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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Feb. 28, 2018	Jun. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Entity Registrant Name	HC2 Holdings, Inc.
Entity Central Index Key	0001006837
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding (in shares)		44,225,695
Entity Public Float (in shares)			$ 239,529,238

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Revenue	$ 1,482,546	$ 1,415,669	$ 1,117,941
Life, accident and health earned premiums, net	80,524	79,406	1,578
Net investment income	66,070	58,032	1,031
Net realized and unrealized gains on investments	4,983	5,019	256
Net revenue	1,634,123	1,558,126	1,120,806
Operating expenses
Cost of revenue	1,313,069	1,254,041	982,623
Policy benefits, changes in reserves, and commissions	108,695	123,182	2,245
Selling, general and administrative	182,880	152,890	108,527
Depreciation and amortization	31,315	24,493	24,796
Other operating (income) expenses	(704)	4,941	1,902
Total operating expenses	1,635,255	1,559,547	1,120,093
Income (loss) from operations	(1,132)	(1,421)	713
Interest expense	(55,098)	(43,375)	(39,017)
Gain (loss) on contingent consideration	11,411	(8,929)	0
Income (loss) from equity investees	17,840	10,768	(1,499)
Other expenses, net	(12,772)	(2,836)	(6,820)
Loss from continuing operations before income taxes	(39,751)	(45,793)	(46,623)
Income tax (expense) benefit	(10,740)	(51,638)	10,882
Loss from continuing operations	(50,491)	(97,431)	(35,741)
Loss from discontinued operations	0	0	(21)
Net loss	(50,491)	(97,431)	(35,762)
Less: Net loss attributable to noncontrolling interest and redeemable noncontrolling interest	3,580	2,882	197
Net loss attributable to HC2 Holdings, Inc.	(46,911)	(94,549)	(35,565)
Less: Preferred stock and deemed dividends from conversions	2,767	10,849	4,285
Net loss attributable to common stock and participating preferred stockholders	$ (49,678)	$ (105,398)	$ (39,850)
Basic and diluted loss per common share
Loss from continuing operations (in dollars per share)	$ (1.16)	$ (2.83)	$ (1.50)
Loss from discontinued operations (in dollars per share)	0.00	0.00	0.00
Basic and diluted loss per share (in dollars per share)	$ (1.16)	$ (2.83)	$ (1.50)
Weighted average common shares outstanding:
Basic and diluted (in shares)	42,824	37,260	26,482

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (50,491)	$ (97,431)	$ (35,762)
Other comprehensive income (loss)
Foreign currency translation adjustment	7,857	(4,911)	(8,591)
Unrealized gain (loss) on available-for-sale securities	55,556	21,245	(8,029)
Actuarial loss on pension plan	(78)	(2,606)	(512)
Other comprehensive income (loss)	63,335	13,728	(17,132)
Comprehensive income (loss)	12,844	(83,703)	(52,894)
Less: Net loss attributable to noncontrolling interest and redeemable noncontrolling interest	3,580	2,882	197
Comprehensive income (loss) attributable to HC2 Holdings, Inc.	$ 16,424	$ (80,821)	$ (52,697)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments:
Fixed maturity securities, available-for-sale at fair value	$ 1,340,626	$ 1,278,958
Equity securities, available-for-sale at fair value	47,500	51,519
Mortgage loans	52,109	16,831
Policy loans	17,944	18,247
Other invested assets	85,419	62,363
Total investments	1,543,598	1,427,918
Cash and cash equivalents	97,885	115,371
Accounts receivable, net	322,446	267,598
Recoverable from reinsurers	526,337	524,201
Deferred tax asset	1,661	1,108
Property, plant, and equipment, net	374,660	286,458
Goodwill	131,741	98,086
Intangibles, net	117,105	39,722
Other assets	102,258	74,814
Total assets	3,217,691	2,835,276
Liabilities, temporary equity and stockholders’ equity
Life, accident and health reserves	1,693,961	1,648,565
Annuity reserves	243,156	251,270
Value of business acquired	42,969	47,613
Accounts payable and other current liabilities	347,492	251,733
Deferred tax liability	10,740	15,304
Debt obligations	593,172	428,496
Other liabilities	70,174	92,871
Total liabilities	3,001,664	2,735,852
Commitments and contingencies
Temporary equity
Preferred stock	26,296	29,459
Redeemable noncontrolling interest	1,609	2,526
Total temporary equity	27,905	31,985
Stockholders’ equity
Common stock	44	42
Additional paid-in capital	254,685	241,485
Treasury stock, at cost; 379,178 and 259,387 shares at December 31, 2017 and December 31, 2016, respectively	(2,057)	(1,387)
Accumulated deficit	(221,189)	(174,278)
Accumulated other comprehensive income (loss)	41,688	(21,647)
Total HC2 Holdings, Inc. stockholders’ equity	73,171	44,215
Noncontrolling interest	114,951	23,224
Total stockholders’ equity	188,122	67,439
Total liabilities, temporary equity and stockholders’ equity	$ 3,217,691	$ 2,835,276

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock (in shares)	80,000,000	80,000,000
Common stock, shares issued (in shares)	44,570,004	42,070,675
Common stock, shares outstanding (in shares)	44,190,826	41,811,288
Treasury stock (in shares)	379,178	259,387

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Treasury Stock	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Total HC2 Stockholders' Equity	Non- controlling Interest	Temporary Equity
Beginning balance (in shares) at Dec. 31, 2014		23,813,000
Beginning balance at Dec. 31, 2014	$ 104,395	$ 24	$ 141,948	$ (378)	$ (44,164)	$ (18,243)	$ 79,187	$ 25,208	$ 43,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to noncontrolling interest	(1,835)							(1,835)
Share-based compensation expense	11,102		11,102				11,102
Preferred stock dividend and accretion	(4,285)		(4,285)				(4,285)
Amortization of issuance costs and beneficial conversion feature	(375)		(375)				(375)		(420)
Issuance of common stock for acquisition of business (in shares)		1,007,000
Issuance of common stock for acquisition of business	5,381	$ 1	5,380				5,381
Issuance of common stock (in shares)		9,998,000
Issuance of restricted stock	53,789	$ 10	53,779				53,789		14,033
Conversion of preferred stock to common stock (in shares)		432,000
Conversion of preferred stock to common stock	1,839		1,839				1,839		(839)
Transactions with noncontrolling interests	(386)		89				89	(475)	(89)
Net loss	(35,762)								(793)
Net loss	(34,969)				(35,565)		(35,565)	596
Other comprehensive income	(17,132)					(17,132)	(17,132)
Ending balance (in shares) at Dec. 31, 2015		35,250,000
Ending balance at Dec. 31, 2015	117,524	$ 35	209,477	(378)	(79,729)	(35,375)	94,030	23,494	55,741
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to noncontrolling interest	(759)							(759)
Share-based compensation expense	8,348		8,348				8,348
Fair value adjustment of redeemable noncontrolling interest	$ (489)		(489)				(489)		489
Exercise of stock options (in shares)	2,000	2,000
Exercise of stock options	$ 8		8				8
Taxes paid in lieu of shares issued for share-based compensation, shares		(228,000)
Taxes paid in lieu of shares issued for share-based compensation	(1,009)			(1,009)			(1,009)
Preferred stock dividend and accretion	(2,948)		(2,948)				(2,948)
Amortization of issuance costs and beneficial conversion feature	(608)		(608)				(608)		608
Issuance of common stock (in shares)		269,000
Conversion of preferred stock to common stock (in shares)		6,518,000
Conversion of preferred stock to common stock	21,372	$ 7	21,365				21,372		(23,768)
Transactions with noncontrolling interests	8,283		6,332				6,332	1,951	335
Net loss	(97,431)								(1,420)
Net loss	(96,011)				(94,549)		(94,549)	(1,462)
Other comprehensive income	13,728					13,728	13,728
Ending balance (in shares) at Dec. 31, 2016		41,811,000
Ending balance at Dec. 31, 2016	67,439	$ 42	241,485	(1,387)	(174,278)	(21,647)	44,215	23,224	31,985
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividend to noncontrolling interest	(756)							(756)
Share-based compensation expense	7,305		7,305				7,305
Fair value adjustment of redeemable noncontrolling interest	$ (1,126)		(1,126)				(1,126)		1,126
Exercise of stock options (in shares)	134,539	135,000
Exercise of stock options	$ 486		486				486
Taxes paid in lieu of shares issued for share-based compensation, shares		(120,000)
Taxes paid in lieu of shares issued for share-based compensation	(670)			(670)			(670)
Preferred stock dividend and accretion	(2,063)		(2,063)				(2,063)
Amortization of issuance costs and beneficial conversion feature	(65)		(65)				(65)		65
Issuance of common stock for acquisition of business (in shares)		1,006,000
Issuance of common stock for acquisition of business	4,994	$ 1	4,993				4,994
Issuance of common stock (in shares)		555,000
Issuance of restricted stock	269		269				269
Conversion of preferred stock to common stock (in shares)		803,000
Conversion of preferred stock to common stock	2,666	$ 1	2,665				2,666		(3,228)
Transactions with noncontrolling interests	94,089		736				736	93,353	667
Net loss	(50,491)								(2,710)
Net loss	(47,781)				(46,911)		(46,911)	(870)
Other comprehensive income	63,335					63,335	63,335
Ending balance (in shares) at Dec. 31, 2017		44,190,000
Ending balance at Dec. 31, 2017	$ 188,122	$ 44	$ 254,685	$ (2,057)	$ (221,189)	$ 41,688	$ 73,171	$ 114,951	$ 27,905

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (50,491)	$ (97,431)	$ (35,762)
Adjustments to reconcile net loss to cash provided by (used in) operating activities:
Provision for doubtful accounts receivable	127	2,862	99
Share-based compensation expense	5,243	8,348	11,102
Depreciation and amortization	36,569	28,863	32,455
Amortization of deferred financing costs and debt discount	6,121	3,253	1,420
Amortization of (discount) premium on investments	8,032	11,373	301
(Gain) loss on sale or disposal of assets	(2,780)	2,362	170
Lease termination costs	266	179	1,185
Asset impairment expense	1,810	2,400	547
(Income) loss from equity investees	(17,840)	(10,768)	1,499
Impairment of investments	9,969	4,322	0
Net realized (gains) losses on investments	(5,149)	(2,528)	6,053
Net gain (loss) on contingent consideration	(11,411)	8,929	0
Receipt of dividends from equity investees	4,668	8,723	4,647
Deferred income taxes	(10,453)	27,136	(13,102)
Annuity benefits	8,674	8,962	0
Other operating activities	7,576	(878)	5,451
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(47,073)	(55,907)	(60,720)
Recoverable from reinsurers	(2,136)	(1,947)	0
Other assets	(23,471)	46,757	8,063
Life, accident and health reserves	45,261	56,338	608
Accounts payable and other current liabilities	54,373	11,905	36,216
Other liabilities	(11,743)	15,895	(28,146)
Cash provided by (used in) operating activities:	6,142	79,148	(27,914)
Cash flows from investing activities:
Purchase of property, plant and equipment	(31,925)	(29,048)	(21,324)
Disposal of property, plant and equipment	1,981	8,824	5,034
Purchase of investments	(341,859)	(229,738)	(51,598)
Sale of investments	157,198	89,392	12,248
Maturities and redemptions of investments	143,331	97,375	0
Purchase of equity method investments	(10,590)	(10,203)	(3,000)
Cash paid for business acquisitions, net of cash acquired	(57,828)	(66,346)	39,726
Other investing activities	439	(474)	0
Cash used in investing activities:	(139,253)	(140,218)	(18,914)
Cash flows from financing activities:
Proceeds from debt obligations	186,856	56,058	54,042
Principal payments on debt obligations	(51,596)	(22,252)	(19,287)
Annuity receipts	2,885	3,399	78
Annuity surrenders	(19,539)	(21,654)	0
Proceeds from sale of preferred stock, net	0	0	14,033
Proceeds from sale of common stock, net	0	0	53,975
Transactions with noncontrolling interests	677	6,167	(475)
Change in restricted cash	0	0	6,014
Payment of dividends	(3,641)	(4,220)	(5,687)
Net cash received for contingent consideration	0	2,335	0
Taxes paid in lieu of shares issued for share-based compensation	(670)	(1,009)	0
Other financing activities	369	(36)	0
Cash provided by financing activities:	115,341	18,788	102,693
Effects of exchange rate changes on cash and cash equivalents	284	(971)	(5,219)
Net change in cash and cash equivalents	(17,486)	(43,253)	50,646
Cash and cash equivalents, beginning of period	115,371	158,624	107,978
Cash and cash equivalents, end of period	97,885	115,371	158,624
Supplemental cash flow information:
Cash paid for interest	47,634	39,193	39,451
Cash paid for taxes	19,164	20,859	1,134
Non-cash investing and financing activities:
Purchases of property, plant and equipment under financing arrangements	0	0	1,808
Property, plant and equipment included in accounts payable	1,396	1,581	911
Investments included in accounts payable	6,323	2,494	0
Conversion of preferred stock to common stock	4,433	28,534	1,839
Deemed dividend from conversion of preferred stock	532	6,867	0
Dividends payable to shareholders	500	1,322	1,005
Business acquisition through the issuance of common stock, debt and warrants	20,148	0	11,591
Issuance of debt obligations	0	0	5,000
Fair value of contingent assets assumed in other acquisitions	0	2,992	0
Fair value of deferred liabilities assumed in other acquisitions	0	2,995	0
Debt assumed in acquisitions	$ 2,480	$ 20,813	$ 0

Business Combinations

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Business Combinations

3. Business Combinations

Construction Segment

On November 1, 2017, DBMG consummated the acquisition of 100% of shares of North American operations of Candraft VSI ("Candraft"). Candraft is a premier bridge infrastructure detailing and modeling company. On December 1, 2017, DBMG consummated the acquisition of the assets from Mountain States Steel, Inc. ("MSS") including inventory, machinery & equipment, real estate, employees and certain intangible assets. MSS is a premier custom structural steel fabricator for constructions projects including bridges, stadiums and power plants. The aggregate fair value of the consideration paid in connection with the acquisitions of Candraft and MSS was $17.8 million, including $16.3 million in cash. Both transactions were accounted for as business acquisitions.

On October 13, 2016, DBMG acquired the detailing and BIM management business of PDC Global Pty Ltd. ("PDC"). The new businesses provide steel detailing, BIM modelling and BIM management services for industrial and commercial construction projects in Australia and North America. On November 1, 2016, DBMG acquired BDS VirCon ("BDS"). BDS provides steel detailing, rebar detailing and BIM modelling services for industrial and commercial projects in Australia, New Zealand, North America and Europe. The aggregate fair value of the consideration paid in connection with the acquisitions of PDC and BDS was $25.5 million, including $21.4 million in cash. Both transactions were accounted for as business acquisitions.

Fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed, intangibles and residual goodwill are summarized as follows (in thousands):



	December 31,
Purchase price allocation	2017			2016
Cash and cash equivalents	$	—		$	621
Accounts receivable	448			5,558
Property, plant and equipment	12,730			8,043
Goodwill	2,290			11,827
Intangibles	1,608			3,955
Other assets	909			2,895
Total assets acquired	17,985			32,899
Accounts payable and other current liabilities	(28		)	(5,924		)
Deferred tax liability	—			(169		)
Other liabilities	(167		)	(1,302		)
Total liabilities assumed	(195		)	(7,395		)
Total net assets acquired	$	17,790		$	25,504

Goodwill was determined based on the residual differences between fair value of consideration transferred and the value assigned to tangible and intangible assets and liabilities. Among the factors that contributed to goodwill was approximately $1.5 million and $2.9 million assigned to the assembled and trained workforce for 2017 and 2016, respectively. Goodwill is not amortized and is not deductible for tax purposes.

Acquisition costs incurred by DMBG in connection with the 2017 and 2016 acquisitions were approximately $3.3 million and $2.3 million, respectively, which were included in selling, general and administrative expenses. The acquisition costs were primarily related to legal, accounting and valuation services.

Results of acquired businesses were included in our Consolidated Statements of Operations since their respective acquisition dates. Pro forma results of operations have not been presented because they are not material to our consolidated results of operations.

Marine Services Segment

On November 30, 2017 GMSL acquired 5 assets and 19 employees and contractors based in Aberdeen, Scotland from Fugro N.V. The fair value of the purchase consideration was $87.2 million and comprised of 23.6% share in GMH LLC and a short-term loan of $7.5 million to Fugro N.V. The decision to acquire was made to support the overall group strategy of growing the Power and Oil & Gas businesses. The transaction was accounted for as business acquisition.

The limited liability company agreement of GMH was amended and restated upon consummation of the Acquisition to reflect such issuance and to provide the Fugro Member with certain rights, including the right to designate two out of the up to seven members of its board of directors, the right to approve certain actions outside the ordinary course of business, certain "tag-along" rights to participate in sales of membership units by other members and, after five years and subject to the Fugro Member first offering its membership units to the other members at a price based upon independent valuations, the right to cause GMHL to be put up for sale in a process led by an investment banking firm.

During the year ended December 31, 2016, GMSL acquired a 60% controlling interest in CWind Limited ("CWind") with an obligation to purchase the remaining 40% in equal amounts on September 30, 2016 and September 30, 2017 (based on agreed financial targets). The total consideration transferred for these acquisitions was $7.8 million. On November 1, 2016, GMSL completed the renegotiation of the deferred purchase obligation to purchase the outstanding 40% minority interest of CWind and purchased the remaining 40% on that date. Transaction was accounted for as business acquisition.

Fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed, intangibles, and residual goodwill are summarized as follows (in thousands):



	December 31,
Purchase price allocation	2017			2016
Cash and cash equivalents	$	2,212		$	1,188
Accounts receivable	—			6,397
Property, plant and equipment	73,320			28,273
Goodwill	11,783			1,334
Intangibles	—			690
Other assets	596			2,542
Total assets acquired	87,911			40,424
Accounts payable and other current liabilities	(676		)	(10,891		)
Deferred tax liability	—			(123		)
Debt obligations	—			(20,813		)
Noncontrolling interest	—			(815		)
Total liabilities assumed	(676		)	(32,642		)
Total net assets acquired	$	87,235		$	7,782

Acquisition costs incurred by GMSL in connection with the 2017 and 2016 acquisitions were approximately $1.8 million and $0.3 million, respectively, which were included in selling, general and administrative expenses. The acquisition costs were primarily related to legal, accounting and valuation services.

Results of acquired businesses were included in our Consolidated Statements of Operations since their respective acquisition dates. Pro forma results of operations are also presented because the Fugro acquisition was material to our consolidated results of operations.

Energy Segment

For the year ended December 31, 2016, ANG completed four acquisitions comprised of an aggregate of twenty-one fueling stations. The total fair value of the consideration transferred by ANG in connection with the acquisitions was $42.1 million, comprised of $39.2 million in cash and a $2.9 million 4.25% seller note, due in 2022. See Note 13. Debt Obligations for further details. Two of the transactions were accounted for as asset acquisitions because substantially all of the fair value of the gross assets acquired were concentrated in a group of similar identifiable assets related to acquired stations.

For the transactions accounted for as a business combination, the fair value of consideration transferred was allocated among the identified assets acquired, liabilities assumed, intangibles and residual goodwill. For the two transactions accounted for as asset acquisitions the preliminary fair value of consideration transferred was preliminarily allocated based on the relative fair value (in thousands):



Purchase price allocation	December 31, 2016
Accounts receivable	$	1,303
Property, plant and equipment, net	40,758
Goodwill	748
Intangibles	4,984
Other assets	79
Total assets acquired	47,872
Accounts payable and other current liabilities	(897		)
Deferred tax liability	(4,578		)
Total liabilities assumed	(5,475		)
Bargain purchase gain	(340		)
Total net assets acquired	$	42,057

Approximately $5.0 million of the fair value of consideration transferred has been provisionally assigned to customer contracts with an estimated useful life ranging between four and fifteen years. The multi-period excess earnings method was used to assign fair value to the acquired customer contracts.

Results of operations from the acquired stations since acquisition dates have been included in our Consolidated Statements of Operations. Pro forma results of operations for ANG's acquisitions have not been presented because they are not material to our consolidated results of operations.

Other Acquisitions

During the year ended December 31, 2017, Broadcasting and its subsidiaries completed a series of transactions for a total consideration of $91.2 million (in thousands):



	DTV		Mako		Azteca		Other		Total
Cash	$	13,467	$	18,192	$	—	$	12,104	$	43,763
Accounts payable	—		—		33,000		—		33,000
Equity	—		4,994		—		—		4,994
Debt obligations	2,405		5,250		—		—		7,655
Fair value of previously held interest	1,780		—		—		—		1,780
Fair value of consideration	$	17,652	$	28,436	$	33,000	$	12,104	$	91,192

DTV

In November 2017, we closed a series of transactions that resulted in HC2 and its subsidiaries owning over 50% of the shares of common stock of DTV for a total consideration of $17.7 million. DTV is an aggregator and operator of Low Power Television ("LPTV") licenses and stations across the United States. DTV currently owns and operates 52 LPTV stations in more than 40 cities. DTV’s distribution platform currently provides carriage for more than 30 television broadcast networks. DTV maintains a focus on technological innovation. DTV exclusively adopted Internet Protocol (IP) as a transport to provide Broadcast-as-a-Service, making it the only adopter of all IP-transport to the home. The transaction was accounted for as business acquisition.

Mako

In November 2017, a wholly-owned subsidiary of Broadcasting, closed on a transaction with Mako Communications, LLC and certain of its affiliates ("Mako") to purchase all the assets in connection with Mako’s ownership and operation of LPTV stations that resulted in HC2 acquiring 38 operating stations in 28 cities, for a total consideration of $28.4 million. Mako is a family owned and operated business headquartered in Corpus Christi, Texas, that has been acquiring, building, and maintaining Class A and LPTV stations all across the United States since 2000. The transaction was accounted for as business acquisition.

Azteca

In November 2017, a wholly-owned subsidiary of Broadcasting acquired Azteca America, a Spanish-language broadcast network, from affiliates of TV Azteca, S.A.B. de C.V. ("Azteca") (AZTECACPO.MX) (Latibex:XTZA). As part of the bifurcated transaction structure, a wholly-owned subsidiary of Broadcasting signed a definitive acquisition agreement with Northstar Media, LLC ("Northstar"), a licensee of numerous broadcast television licenses in the United States. Under the agreement with Northstar, a wholly-owned subsidiary of Broadcasting will acquire Northstar’s broadcast television stations, which carry Azteca America programming. The total consideration accrued by the Company as of December 31, 2017 pending the close of the Northstar acquisition was $33.0 million. In February 2018, a wholly-owned subsidiary of Broadcasting closed on the acquisition of Northstar's broadcast television stations and funded the $33.0 million consideration balance. The transaction was accounted for as business acquisition.

Other

In November and December of 2017, a wholly-owned subsidiary of Broadcasting closed three additional acquisitions for a total consideration of $12.1 million. All three transactions were accounted as asset acquisitions.

During the year ended December 31, 2016, we completed the acquisition of additional interests in and thereby control of NerVve and BeneVir. The total consideration transferred for these acquisitions was $7.2 million, including $1.4 million in cash. Both transactions were accounted for as business acquisitions.

The following table summarizes the allocation of the purchase price to the fair value of identifiable assets acquired, liabilities assumed, intangibles and residual goodwill (in thousands):



	December 31,
Purchase price allocation	2017			2016
Cash and cash equivalents	$	61		$	1,775
Restricted cash	—			3
Accounts receivable	9,134			3
Property, plant and equipment	12,097			1,623
Goodwill	20,678			4,207
Intangibles	81,016			6,392
Other assets	1,290			37
Total assets acquired	124,276			14,040
Accounts payable and other current liabilities	(8,036		)	(289		)
Deferred tax liability	(6,072		)	(2,696		)
Debt obligations	(4,480		)	—
Other liabilities	—			(3		)
Total liabilities assumed	(18,588		)	(2,988		)
Enterprise value	105,688			11,052
Less fair value of noncontrolling interest	14,496			3,889
Total net assets acquired	$	91,192		$	7,163

Debt obligations includes $2.0 million note with CGI, which is eliminated on the Consolidated Balance Sheet.

The following table summarizes acquired intangible assets (in thousands):



	December 31,
	2017		2016
FCC licenses	$	76,490	$	—
Developed technology	—		6,392
Trade name	208		—
Other	4,318		—
Total intangibles	$	81,016	$	6,392

Results of operations from other acquisitions since respective acquisition dates have been included in our Consolidated Statements of Operations.

Pro Forma Adjusted Summary

Disclosure of proforma information under ASC 805 related to the Azteca acquisition has not been provided as it would be impracticable to do so. After making every reasonable effort to do so, the Company is unable to obtain reliable historical GAAP financial statements for Azteca. Amounts would require estimates so significant as to render the disclosure irrelevant.

The following schedule presents unaudited consolidated pro forma results of operations data as if the acquisition of Fugro had occurred on January 1, 2016. This information does not purport to be indicative of the actual results that would have occurred if the acquisitions had actually been completed on the date indicated, nor is it necessarily indicative of the future operating results or the financial position of the combined company (in thousands):



	Years Ended December 31,
	2017			2016
Net revenue	$	1,674,688		$	1,596,275
Net income (loss) from continuing operations	$	(41,098	)	$	(69,230	)
Net income (loss) attributable to HC2 Holdings, Inc.	$	(48,256	)	$	(118,235	)

Investments

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Investments

4. Investments

Fixed Maturity and Equity Securities Available-for-Sale

The following tables provide information relating to investments in fixed maturity and equity securities (in thousands):



December 31, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Fixed maturity securities
U.S. Government and government agencies	$	15,283	$	470	$	(31	)	$	15,722
States, municipalities and political subdivisions	377,549		18,953		(1,052		)	395,450
Foreign government	6,331		—		(333		)	5,998
Residential mortgage-backed securities	101,974		4,185		(1,264		)	104,895
Commercial mortgage-backed securities	30,152		269		(16		)	30,405
Asset-backed securities	145,479		2,610		(163		)	147,926
Corporate and other	589,803		51,891		(1,464		)	640,230
Total fixed maturity securities	$	1,266,571	$	78,378	$	(4,323	)	$	1,340,626
Equity securities
Common stocks	$	4,938	$	116	$	(126	)	$	4,928
Perpetual preferred stocks	40,902		1,735		(65		)	42,572
Total equity securities	$	45,840	$	1,851	$	(191	)	$	47,500



December 31, 2016	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Fixed maturity securities
U.S. Government and government agencies	$	15,910	$	135	$	(95	)	$	15,950
States, municipalities and political subdivisions	374,527		4,408		(3,858		)	375,077
Foreign government	6,380		—		(402		)	5,978
Residential mortgage-backed securities	136,126		2,634		(564		)	138,196
Commercial mortgage-backed securities	48,715		427		(89		)	49,053
Asset-backed securities	76,303		1,934		(572		)	77,665
Corporate and other	600,458		23,635		(7,054		)	617,039
Total fixed maturity securities	$	1,258,419	$	33,173	$	(12,634	)	$	1,278,958
Equity securities
Common stocks	$	16,236	$	—	$	(1,371	)	$	14,865
Perpetual preferred stocks	37,041		191		(578		)	36,654
Total equity securities	$	53,277	$	191	$	(1,949	)	$	51,519

The Company has investments in mortgage-backed securities ("MBS") that contain embedded derivatives (primarily interest-only MBS) that do not qualify for hedge accounting. The Company recorded the change in the fair value of these securities within Net realized gains (losses) on investments. These investments had a fair value of $12.3 million, $15.2 million, and $21.0 million as of December 31, 2017, 2016, and 2015 respectively. The change in fair value related to these securities resulted in a gain of $0.9 million, a loss of $1.2 million, and a loss of $0.3 million for the years ended December 31, 2017, 2016, and 2015 respectively.

Maturities of Fixed Maturity Securities Available-for-Sale

The amortized cost and fair value of fixed maturity securities available-for-sale as of December 31, 2017 are shown by contractual maturity in the table below (in thousands). Actual maturities can differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Asset and mortgage-backed securities are shown separately in the table below, as they are not due at a single maturity date:



	Amortized Cost		Fair Value
Corporate, Municipal, U.S. Government and Other securities
Due in one year or less	$	19,306	$	19,017
Due after one year through five years	103,803		106,178
Due after five years through ten years	153,927		159,615
Due after ten years	711,930		772,590
Subtotal	988,966		1,057,400
Mortgage-backed securities	132,126		135,300
Asset-backed securities	145,479		147,926
Total	$	1,266,571	$	1,340,626

Corporate and Other Fixed Maturity Securities

The tables below show the major industry types of the Company’s corporate and other fixed maturity securities (in thousands):



	December 31, 2017						December 31, 2016
	Amortized Cost		Fair Value		% of Total		Amortized Cost		Fair Value		% of Total
Finance, insurance, and real estate	$	191,234	$	203,735	31.8	%	$	214,911	$	211,834	34.3	%
Transportation, communication and other services	186,114		201,802		31.5	%	180,647		189,163		30.7	%
Manufacturing	100,942		111,391		17.4	%	112,644		118,440		19.2	%
Other	111,513		123,302		19.3	%	92,256		97,602		15.8	%
Total	$	589,803	$	640,230	100.0	%	$	600,458	$	617,039	100.0	%

Other-Than-Temporary Impairments - Fixed Maturity and Equity Securities

A portion of certain other-than-temporary impairment ("OTTI") losses on fixed maturity securities is recognized in AOCI. For these securities the net amount, which is recognized in the Consolidated Statements of Operations in the below line items, represents the difference between the amortized cost of the security and the net present value of its projected future cash flows discounted at the effective interest rate implicit in the debt security prior to impairment. Any remaining difference between the fair value and amortized cost is recognized in AOCI. The Company recorded the following (in thousands):



	Years Ended December 31,
	2017		2016		2015
Net realized gains (losses) on investments	$	—	$	163	$	—
Other expenses, net	6,550		2,451		—
Total Other-Than-Temporary Impairments	$	6,550	$	2,614	$	—

Unrealized Losses for Fixed Maturity and Equity Securities Available-for-Sale

The following table presents the total unrealized losses for the 126, 269, and 528 fixed maturity and equity securities held by the Company as of December 31, 2017, 2016, and 2015, respectively, where the estimated fair value had declined and remained below amortized cost by the indicated amount (in thousands):



	December 31, 2017					December 31, 2016					December 31, 2015
	Unrealized Losses			% of Total		Unrealized Losses			% of Total		Unrealized Losses			% of Total
Fixed maturity and equity securities
Less than 20%	$	(4,230	)	93.7	%	$	(10,069	)	69.0	%	$	(5,667	)	52.2	%
20% or more for less than six months	(174		)	3.9	%	(482		)	3.3	%	—			—	%
20% or more for six months or greater	(110		)	2.4	%	(4,032		)	27.7	%	(5,198		)	47.8	%
Total	$	(4,514	)	100.0	%	$	(14,583	)	100.0	%	$	(10,865	)	100.0	%

The determination of whether unrealized losses are "other-than-temporary" requires judgment based on subjective as well as objective factors. Factors considered and resources used by management include (i) whether the unrealized loss is credit-driven or a result of changes in market interest rates, (ii) the extent to which fair value is less than cost basis, (iii) cash flow projections received from independent sources, (iv) historical operating, balance sheet and cash flow data contained in issuer SEC filings and news releases, (v) near-term prospects for improvement in the issuer and/or its industry, (vi) third party research and communications with industry specialists, (vii) financial models and forecasts, (viii) the continuity of dividend payments, maintenance of investment grade ratings and hybrid nature of certain investments, (ix) discussions with issuer management, and (x) ability and intent to hold the investment for a period of time sufficient to allow for anticipated recovery in fair value.

The Company analyzes its MBS for OTTI each quarter based upon expected future cash flows. Management estimates expected future cash flows based upon its knowledge of the MBS market, cash flow projections (which reflect loan-to-collateral values, subordination, vintage and geographic concentration) received from independent sources, implied cash flows inherent in security ratings and analysis of historical payment data.

The Company believes it will recover its cost basis in the non-impaired securities with unrealized losses and that the Company has the ability to hold the securities until they recover in value. The Company neither intends to sell nor does it expect to be required to sell the securities with unrealized losses as of December 31, 2017. However, unforeseen facts and circumstances may cause the Company to sell fixed maturity and equity securities in the ordinary course of managing its portfolio to meet certain diversification, credit quality and liquidity guidelines.

The following tables present the estimated fair values and gross unrealized losses for the 126, 269, and 528 fixed maturity and equity securities held by the Company that have estimated fair values below amortized cost as of each of December 31, 2017, 2016, and 2015, respectively. The Company does not have any OTTI losses reported in AOCI. These investments are presented by investment category and the length of time the related fair value has remained below amortized cost (in thousands):



December 31, 2017	Less than 12 months					12 months of greater					Total
December 31, 2017	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed maturity securities
U.S. Government and government agencies	$	5,044	$	(17	)	$	2,199	$	(14	)	$	7,243	$	(31	)
States, municipalities and political subdivisions	32,939		(834		)	10,757		(218		)	43,696		(1,052		)
Foreign government	—		—			5,999		(333		)	5,999		(333		)
Residential mortgage-backed securities	5,139		(546		)	16,150		(718		)	21,289		(1,264		)
Commercial mortgage-backed securities	5,053		(12		)	1,003		(4		)	6,056		(16		)
Asset-backed securities	19,771		(64		)	3,963		(99		)	23,734		(163		)
Corporate and other	18,478		(824		)	19,433		(640		)	37,911		(1,464		)
Total fixed maturity securities	$	86,424	$	(2,297	)	$	59,504	$	(2,026	)	$	145,928	$	(4,323	)
Equity securities
Common stocks	$	1,057	$	(126	)	$	—	$	—		$	1,057	$	(126	)
Perpetual preferred stocks	1,614		(13		)	1,048		(52		)	2,662		(65		)
Total equity securities	$	2,671	$	(139	)	$	1,048	$	(52	)	$	3,719	$	(191	)



December 31, 2016	Less than 12 months					12 months of greater					Total
December 31, 2016	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed maturity securities
U.S. Government and government agencies	$	4,392	$	(95	)	$	—	$	—		$	4,392	$	(95	)
States, municipalities and political subdivisions	207,740		(3,858		)	—		—			207,740		(3,858		)
Foreign government	5,978		(402		)	—		—			5,978		(402		)
Residential mortgage-backed securities	54,385		(564		)	—		—			54,385		(564		)
Commercial mortgage-backed securities	13,159		(89		)	—		—			13,159		(89		)
Asset-backed securities	12,443		(572		)	—		—			12,443		(572		)
Corporate and other	147,653		(3,022		)	3,579		(4,032		)	151,232		(7,054		)
Total fixed maturity securities	$	445,750	$	(8,602	)	$	3,579	$	(4,032	)	$	449,329	$	(12,634	)
Equity securities
Common stocks	$	14,585	$	(1,371	)	$	—	$	—		$	14,585	$	(1,371	)
Perpetual preferred stocks	20,464		(578		)	—		—			20,464		(578		)
Total equity securities	$	35,049	$	(1,949	)	$	—	$	—		$	35,049	$	(1,949	)



December 31, 2015	Less than 12 months					12 months of greater				Total
December 31, 2015	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Fixed maturity securities
U.S. Government and government agencies	$	15,409	$	(49	)	$	—	$	—	$	15,409	$	(49	)
States, municipalities and political subdivisions	294,105		(1,227		)	—		—		294,105		(1,227		)
Residential mortgage-backed securities	77,695		(588		)	—		—		77,695		(588		)
Commercial mortgage-backed securities	44,618		(96		)	—		—		44,618		(96		)
Asset-backed securities	22,550		(51		)	—		—		22,550		(51		)
Corporate and other	466,293		(7,537		)	—		—		466,293		(7,537		)
Total fixed maturity securities	$	920,670	$	(9,548	)	$	—	$	—	$	920,670	$	(9,548	)
Equity securities
Common stocks	$	13,657	$	(1,311	)	$	—	$	—	$	13,657	$	(1,311	)
Perpetual preferred stocks	7,378		(6		)	—		—		7,378		(6		)
Total equity securities	$	21,035	$	(1,317	)	$	—	$	—	$	21,035	$	(1,317	)

As of December 31, 2017, investment grade fixed maturity securities (as determined by nationally recognized rating agencies) represented approximately 7.3% of the gross unrealized loss and 10.4% of the fair value. As of December 31, 2016, investment grade fixed maturity securities represented approximately 54.5% of the gross unrealized loss and 83.0% of the fair value. As of December 31, 2015, investment grade fixed maturity securities represented approximately 33.2% of the gross unrealized loss and 88.3% of the fair value.

Certain risks are inherent in connection with fixed maturity securities, including loss upon default, price volatility in reaction to changes in interest rates, and general market factors and risks associated with reinvestment of proceeds due to prepayments or redemptions in a period of declining interest rates.

Other Invested Assets

Carrying values of other invested assets accounted for under cost and equity method are as follows (in thousands):



	December 31, 2017						December 31, 2016
	Cost Method		Equity Method		Fair Value		Cost Method		Equity Method		Fair Value
Common Equity	$	—	$	1,484	$	—	$	138	$	1,047	$	—
Preferred Equity	2,484		14,197		—		2,484		9,971		—
Derivatives	422		—		260		3,097		—		3,813
Limited Partnerships	—		—		—		—		1,116		—
Joint Ventures	—		66,572		—		—		40,697		—
Total	$	2,906	$	82,253	$	260	$	5,719	$	52,831	$	3,813

Summarized financial information for equity method investees not consolidated for the years ended December 31, 2017, 2016, and 2015 is as follows (information for two of the investees is reported on a one month lag, in thousands):



	Years Ended December 31,
	2017			2016			2015
Net revenue	$	481,528		$	558,180		$	502,122
Gross profit	$	122,103		$	164,853		$	103,236
Income (loss) from continuing operations	$	7,597		$	51,690		$	(18,743	)
Net income (loss)	$	(17,530	)	$	(11,123	)	$	(36,873	)

Current assets	$	357,329		$	285,466		$	256,372
Noncurrent assets	$	188,319		$	278,766		$	219,434
Current liabilities	$	227,229		$	184,068		$	169,002
Noncurrent liabilities	$	161,014		$	131,587		$	132,934

Net Investment Income

The major sources of net investment income were as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Fixed maturity securities, available-for-sale at fair value	$	59,403		$	54,685		$	964
Equity securities, available-for-sale at fair value	2,620			2,263			93
Mortgage loans	2,474			491			—
Policy loans	1,150			1,173			18
Other invested assets	628			321			—
Gross investment income	66,275			58,933			1,075
External investment expense	(205		)	(901		)	(44		)
Net investment income	$	66,070		$	58,032		$	1,031

Net Realized and Unrealized Gains (Losses) on Investments

The major sources of net realized gains (losses) on investments were as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Realized gains on fixed maturity securities	$	4,393		$	4,868		$	256
Realized losses on fixed maturity securities	(1,045		)	(2,367		)	—
Realized gains on equity securities	(566		)	4,525			—
Realized losses on equity securities	981			(352		)	—
Net unrealized and realized gains (losses) on derivative instruments	1,220			(1,492		)	—
Impairment loss	—			(163		)	—
Net realized gains (losses)	$	4,983		$	5,019		$	256

Organization and Business	12 Months Ended
Organization and Business	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	1. Organization and Business HC2 Holdings, Inc. ("HC2" and, together with its subsidiaries, the "Company", "we" and "our") is a diversified holding company which seeks to acquire and grow attractive businesses that we believe can generate long-term sustainable free cash flow and attractive returns. While the Company generally intends to acquire controlling equity interests in its operating subsidiaries, the Company may invest to a limited extent in a variety of debt instruments or noncontrolling equity interest positions. The Company’s shares of common stock trade on the NYSE under the symbol "HCHC". The Company currently has seven reportable segments based on management’s organization of the enterprise - Construction, Marine Services, Energy, Telecommunications, Insurance, Life Sciences, and Other, which includes businesses that do not meet the separately reportable segment thresholds. 1.Our Construction segment is comprised of DBM Global Inc. ("DBMG") and its wholly-owned subsidiaries. DBMG is a fully integrated Building Information Modelling ("BIM") modeler, detailer, fabricator and erector of structural steel and heavy steel plate. DBMG models, details, fabricates and erects structural steel for commercial and industrial construction projects such as high- and low-rise buildings and office complexes, hotels and casinos, convention centers, sports arenas, shopping malls, hospitals, dams, bridges, mines and power plants. DBMG also fabricates trusses and girders and specializes in the fabrication and erection of large-diameter water pipe and water storage tanks. Through Aitken, DBMG manufactures pollution control scrubbers, tunnel liners, pressure vessels, strainers, filters, separators and a variety of customized products. The Company maintains approximately 92% controlling interest in DBMG. 2.Our Marine Services segment is comprised of Global Marine Systems Limited ("GMSL"). GMSL is a leading provider of engineering and underwater services on submarine cables. GMSL aims to maintain its leading market position in the telecommunications maintenance segment and seeks opportunities to grow its installation activities in the three market sectors (telecommunications, offshore power, and oil and gas) while capitalizing on high market growth in the offshore power sector through expansion of its installation and maintenance services in that sector. The Company maintains approximately 73% controlling interest in GMSL. 3.Our Energy segment is comprised of American Natural Gas ("ANG"). ANG is a premier distributor of natural gas motor fuel. ANG designs, builds, owns, acquires, operates and maintains compressed natural gas fueling stations for transportation vehicles. The Company maintains approximately 68% controlling interest in ANG. 4.Our Telecommunications segment is comprised of PTGi International Carrier Services, ("ICS"). ICS operates a telecommunications business including a network of direct routes and provides premium voice communication services for national telecommunications operators, mobile operators, wholesale carriers, prepaid operators, voice over internet protocol service operators and internet service providers. ICS provides a quality service via direct routes and by forming strong relationships with carefully selected partners. The Company maintains 100% interest in ICS. 5.Our Insurance segment is comprised of Continental General Insurance Company ("CGI" or the "Insurance Company"). CGI provides long-term care, life and annuity coverage that help protect policy and certificate holders from the financial hardships associated with illness, injury, loss of life, or income continuation. The Company maintains 100% interest in CGI. 6.Our Life Sciences segment is comprised of Pansend Life Sciences, LLC ("Pansend"). Pansend maintains controlling interest of (i) approximately 80% interest in Genovel Orthopedics, Inc. ("Genovel"), which seeks to develop products to treat early osteoarthritis of the knee, (ii) approximately 74% interest in R2 Dermatology Inc. ("R2"), which develops skin lightening technology, and (iii) approximately 80% interest in BeneVir Biopharm, Inc. ("BeneVir"), which focuses on immunotherapy for the treatment of solid tumors. Pansend also invests in other early stage or developmental stage healthcare companies including a 50% interest in Medibeacon Inc., and an investment in Triple Ring Technologies, Inc. 7.In our Other segment, we invest in and grow developmental stage companies that we believe have significant growth potential. Among the businesses included in this segment is the Company's 56% controlling interest in 704Games Company ("704Games" f/k/a DMi, Inc.), which owns licenses to create and distribute NASCAR® video games; a 100% ownership of HC2 Broadcasting Holdings, Inc. ("Broadcasting"), which strategically acquires broadcast assets across the United States. Broadcasting maintains approximately 50% controlling interest in DTV America Corporation ("DTV").

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company, its wholly owned subsidiaries and all other subsidiaries over which the Company exerts control. All intercompany profits, transactions and balances have been eliminated in consolidation. As of December 31, 2017, the results of DBMG, GMSL, ANG, ICS, CGI, Genovel, R2, BeneVir, Broadcasting, and 704Games have been consolidated into the Company’s results based on guidance from the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC" 810, Consolidation. The remaining interests not owned by the Company are presented as a noncontrolling interest component of total equity. Cash and Cash Equivalents Cash and cash equivalents are comprised principally of amounts in money market accounts, operating accounts, certificates of deposit, and overnight repurchase agreements with original maturities of three months or less. Acquisitions The Company’s acquisitions are accounted for using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date. Estimates of fair value included in the Consolidated Financial Statements, in conformity with ASC 820, Fair Value Measurements and Disclosures, represent the Company’s best estimates and valuations developed, when needed, with the assistance of independent appraisers or, where such valuations have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The following estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially. Any changes to the initial estimates of the fair value of the assets and liabilities will be recorded as adjustments to those assets and liabilities, and residual amounts will be allocated to goodwill. In accordance with ASC 805 Business Combinations ("ASC 805"), if additional information is obtained about the initial estimates of the fair value of the assets acquired and liabilities assumed within the measurement period (not to exceed one year from the date of acquisition), including finalization of asset appraisals, the Company will refine its estimates of fair value to allocate the purchase price more accurately. Investments The Company determines the appropriate classification of investments in fixed maturity and equity securities at the acquisition date and re-evaluates the classification at each balance sheet date. Substantially all of our investments in equity and fixed maturity securities are classified as available-for-sale. The Company utilizes the equity method to account for investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. The Company applies the equity method to investments in common stock and to other investments when such other investments possess substantially identical subordinated interests to common stock. In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying amount of the investment by its proportionate share of the net earnings or losses and other comprehensive income of the investee. The Company records dividends or other equity distributions as reductions in the carrying value of the investment. In the event that net losses of the investee reduce the carrying amount to zero, additional net losses may be recorded if other investments in the investee are at-risk, even if the Company has not committed to provide financial support to the investee. Such additional equity method losses, if any, are based upon the change in the Company's claim on the investee’s book value. Fixed maturity securities, available-for-sale at fair value include bonds and redeemable preferred stocks. The Company carries these investments at fair value with net unrealized gains or losses, net of tax and related adjustments, reported as a component of Accumulated Other Comprehensive Income (Loss) ("AOCI"). Equity securities, available-for-sale at fair value include investments in common stock and non-redeemable preferred stock. The Company carries these investments at fair value with net unrealized gains or losses, net of tax and related adjustments, reported as a component of AOCI. Mortgage loans are carried at amortized unpaid balances, net of provisions for estimated losses. Interest income is accrued on the principal amount of the loan based on the loan's contractual interest rate. Policy loans are stated at current unpaid principal balances. Policy loans are collateralized by the cash surrender value of the policy. Interest income is recorded as earned using the contractual interest rate. Other invested assets include (i) common stock of publicly traded companies accounted for using the equity method; (ii) common and preferred stock of privately held companies accounted for using the equity or cost method; (ii) limited partnerships and joint ventures accounted for using the equity method; (iii) equity purchase warrants and call options accounted for as a derivative (as discussed below); and, (iv) equity purchase warrants accounted for under the cost method. Premiums and discounts on fixed maturity securities are amortized using the interest method; mortgage-backed securities are amortized over a period based on estimated future principal payments, including prepayments. Prepayment assumptions are reviewed periodically and adjusted to reflect actual prepayments and changes in expectations. Dividends on equity securities are recognized when declared. When the Company sells a security, the difference between the sale proceeds and amortized cost (determined based on specific identification) is reported as a realized investment gain or loss. When a decline in the value of a specific investment is considered to be other-than-temporary at the balance sheet date, a provision for impairment is charged to earnings (included in realized gains (losses) on investments) and the cost basis of that investment is reduced. If the Company can assert that it does not intend to sell an impaired fixed maturity security and it is not more likely than not that it will have to sell the security before recovery of its amortized cost basis, then the other-than-temporary impairment is separated into two components: (i) the amount related to credit losses (recorded in earnings) and (ii) the amount related to all other factors (recorded in AOCI). The credit-related portion of an other-than-temporary impairment is measured by comparing a security’s amortized cost to the present value of its current expected cash flows discounted at its effective yield prior to the impairment charge. If the Company intends to sell an impaired security, or it is more likely than not that it will be required to sell the security before recovery, an impairment charge to earnings is recorded to reduce the amortized cost of that security to fair value. Derivatives Equity purchase warrants, equity call options and the Company's issued warrant to purchase its common stock qualify as a derivative under ASC 815, Derivatives and Hedging. All of such derivative instruments are recognized as either assets or liabilities at fair value. Subsequent changes in fair value are recognized within earnings. Fair Value Measurements General accounting principles for Fair Value Measurements and Disclosures define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. These principles also establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and describes three levels of inputs that may be used to measure fair value: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Active markets are defined as having the following characteristics for the measured asset/liability: (i) many transactions, (ii) current prices, (iii) price quotes not varying substantially among market makers, (iv) narrow bid/ask spreads and (v) most information publicly available. The Company’s Level 1 financial instruments consist primarily of publicly traded equity securities and highly liquid government bonds for which quoted market prices in active markets are available. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or market standard valuation techniques and assumptions with significant inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Such observable inputs include benchmarking prices for similar assets in active, liquid markets, quoted prices in markets that are not active and observable yields and spreads in the market. The Company’s Level 2 financial instruments include corporate and municipal fixed maturity securities, mortgage-backed non-affiliated common stocks priced using observable inputs. Level 2 inputs include benchmark yields, reported trades, corroborated broker/dealer quotes, issuer spreads and benchmark securities. When non-binding broker quotes can be corroborated by comparison to similar securities priced using observable inputs, they are classified as Level 2. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the related assets or liabilities. Level 3 assets and liabilities include those whose value is determined using market standard valuation techniques. When observable inputs are not available, the market standard techniques for determining the estimated fair value of certain securities that trade infrequently, and therefore have little transparency, rely on inputs that are significant to the estimated fair value and that are not observable in the market or cannot be derived principally from or corroborated by observable market data. These unobservable inputs can be based in large part on management judgment or estimation and cannot be supported by reference to market activity. Even though unobservable, management believes these inputs are based on assumptions deemed appropriate given the circumstances and consistent with what other market participants would use when pricing similar assets and liabilities. For the Company’s invested assets, this category primarily includes private placements, asset-backed securities, and to a lesser extent, certain residential and commercial mortgage-backed securities, among others. Prices are determined using valuation methodologies such as discounted cash flow models and other similar techniques. Non-binding broker quotes, which are utilized when pricing service information is not available, are reviewed for reasonableness based on the Company’s understanding of the market, and are generally considered Level 3. Under certain circumstances, based on its observations of transactions in active markets, the Company may conclude the prices received from independent third-party pricing services or brokers are not reasonable or reflective of market activity. In those instances, the Company would apply internally developed valuation techniques to the related assets or liabilities. Other than transactions described within Note 3. Business Combinations, the Company did not have any significant nonrecurring fair value measurements of non-financial assets and liabilities in 2017 or 2016. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest 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 financial instrument. The Company may utilize information from third parties, such as pricing services and brokers, to assist in determining the fair value for certain assets and liabilities; however, management is ultimately responsible for all fair values presented in the Company’s financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices and pricing of assets and liabilities, and approving changes to valuation methodologies and pricing sources. The selection of the valuation technique(s) to apply considers the definition of an exit price and the nature of the asset or liability being valued and significant expertise and judgment is required. Accounts Receivable Accounts receivable are stated at amounts due from customers net of an allowance for doubtful accounts. Our allowance for doubtful accounts considers historical experience, the age of certain receivable balances, credit history, current economic conditions and other factors that may affect the counterparty’s ability to pay. Inventory Inventory is valued at the lower of cost or net realizable value under the first-in, first-out method. Provision for obsolescence is made where appropriate and is charged to cost of revenue in the consolidated statements of operations. Short-term work in progress on contracts is stated at cost less foreseeable losses. These costs include only direct labor and expenses incurred to date and exclude any allocation of overhead. The policy for long-term work in progress contracts is disclosed within the Revenue and Cost Recognition accounting policy. Reinsurance Premium revenue and benefits are reported net of the amounts related to reinsurance ceded to and assumed from other companies. Expense allowances from reinsurers are included in other operating and general expenses. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability associated with the reinsured policies. Accounting for Income Taxes We recognize deferred tax assets and liabilities for the expected future tax consequences of transactions and events. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement bases and the tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. If necessary, deferred tax assets are reduced by a valuation allowance to an amount that is determined to be more likely than not recoverable. We must make significant estimates and assumptions about future taxable income and future tax consequences when determining the amount of the valuation allowance. The additional guidance provided by ASC 740, Income Taxes ("ASC 740"), clarifies the accounting for uncertainty in income taxes recognized in the financial statements. Expected outcomes of current or anticipated tax examinations, refund claims and tax-related litigation and estimates regarding additional tax liability (including interest and penalties thereon) or refunds resulting therefrom will be recorded based on the guidance provided by ASC 740 to the extent applicable. At December 31, 2017, our U.S. and foreign companies have significant deferred tax assets resulting from tax loss carryforwards. The foreign deferred tax assets with minor exceptions are fully offset with valuation allowances. Additionally, the deferred tax assets generated by certain businesses that do not qualify to be included in the HC2 U.S. consolidated income tax return have been reduced by a full valuation allowance. Based on consideration of both positive and negative evidence, we determined that it was more likely than not that the net deferred tax assets of the HC2 U.S. consolidated filing group and the Insurance Company's’ will not be realized. Therefore, a full valuation allowance was maintained against the HC2 U.S. consolidated filing group’s and Insurance Company's net deferred tax assets as of December 31, 2017. The appropriateness and amount of these valuation allowances are based on cumulative history of losses and our assumptions about the future taxable income of each affiliate and the timing of the reversal of deferred tax assets and liabilities. Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation, which is provided on the straight-line method over the estimated useful lives of the assets. Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity of the assets as well as expenditures necessary to place assets into readiness for use. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Cost includes finance costs incurred prior to the asset being available for use. Expenditures for maintenance and repairs are expensed as incurred. Costs for internal use software that are incurred in the preliminary project stage and in the post-implementation stage are expensed as incurred. Costs incurred during the application development stage are capitalized and amortized over the estimated useful life of the software, beginning when the software project is ready for its intended use, over the estimated useful life of the software Depreciation is determined on a straight-line basis over the estimated useful lives of the assets, which range from 5 to 40 years for buildings and leasehold improvements, up to 35 years for cable-ships and submersibles, 3 to 15 years for equipment, furniture and fixtures, and 3 to 20 years for plant and transportation equipment. Plant includes equipment on the cable-ships that is portable and can be moved around the fleet and computer equipment. Leasehold improvements are amortized over the lives of the leases or estimated useful lives of the assets, whichever is shorter. Assets under construction are not depreciated until they are complete and available for use. When assets are sold or otherwise retired, the costs and accumulated depreciation are removed from the books and the resulting gain or loss is included in operating results. Property, plant and equipment that have been included as part of the assets held for sale are no longer depreciated from the time that they are classified as such. The Company periodically evaluates the carrying value of its property, plant and equipment based upon the estimated cash flows to be generated by the related assets. If impairment is indicated, a loss is recognized. Goodwill and Other Intangible Assets Under ASC 350, Intangibles - Goodwill and Other ("ASC 350"), goodwill and indefinite lived intangible assets are not amortized but are reviewed annually for impairment, or more frequently, if impairment indicators arise. Intangible assets that have finite lives are amortized over their estimated useful lives and are subject to the provisions of ASC 360, Property, plant, and equipment ("ASC 360"). In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. Topic 350, Intangibles - Goodwill and Other (Topic 350), currently requires an entity that has not elected the private company alternative for goodwill to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of the goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. To address concerns over the cost and complexity of the two-step goodwill impairment test, the amendments in this ASU remove the second step of the test. An entity will now apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The Company elected to early adopt ASU 2017-04 effective March 31, 2017, resulting in no impact to the Consolidated Financial Statements. Goodwill impairment is tested at least annually (October 1st) or when factors indicate potential impairment using a two-step process that begins with a qualitative evaluation of each reporting unit. If such test indicates potential for impairment, a one-step quantitative test is performed and if there is excess of a reporting unit's carrying amount over its fair value, impairment is recorded, not to exceed the total amount of goodwill allocated to the reporting unit. Estimating the fair value of a reporting unit requires various assumptions including projections of future cash flows, perpetual growth rates and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s assessment of a number of factors, including the reporting unit’s recent performance against budget, performance in the market that the reporting unit serves, and industry and general economic data from third-party sources. Discount rate assumptions are based on an assessment of the risk inherent in those future cash flows. Changes to the underlying businesses could affect the future cash flows, which in turn could affect the fair value of the reporting unit. Intangible assets not subject to amortization consist of certain licenses. Such indefinite lived intangible assets are tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test shall consist of a comparison of the fair value of an intangible asset with its carrying amount. If the carrying amount of the intangible asset exceeds its fair value, an impairment loss shall be recognized in an amount equal to the excess. Intangible assets subject to amortization consists of certain trade names, customer contracts and developed technology. These finite lived intangible assets are amortized based on their estimated useful lives. Such assets are subject to the impairment provisions of ASC 360, wherein impairment is recognized and measured only if there are events and circumstances that indicate that the carrying amount may not be recoverable. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset group. An impairment loss is recorded if after determining that it is not recoverable, the carrying amount exceeds the fair value of the asset. In addition to the foregoing, the Company reviews its goodwill and intangible assets for possible impairment whenever events or circumstances indicate that the carrying amounts of assets may not be recoverable. The factors that the Company considers important, and which could trigger an impairment review, include, but are not limited to: a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit; a significant decline in the market value of our common stock or debt securities for a sustained period; a material adverse change in economic, financial market, industry or sector trends; a material failure to achieve operating results relative to historical levels or projected future levels; and significant changes in operations or business strategy. Active License Holdings. As of December 31, 2017, Broadcasting and its subsidiaries held 294 Active television broadcast licenses issued by the FCC, which are included in Intangibles, net in the consolidated financial statements. The weighted average renewal period for these licenses was 2.96 years. Valuation of Long-lived Assets The Company reviews long-lived assets for impairment whenever events or changes indicate that the carrying amount of an asset may not be recoverable. In making such evaluations, the Company compares the expected undiscounted future cash flows to the carrying amount of the assets. If the total of the expected undiscounted future cash flows is less than the carrying amount of the assets, the Company is required to make estimates of the fair value of the long-lived assets in order to calculate the impairment loss equal to the difference between the fair value and carrying value of the assets. The Company makes significant assumptions and estimates in this process regarding matters that are inherently uncertain, such as determining asset groups and estimating future cash flows, remaining useful lives, discount rates and growth rates. The resulting undiscounted cash flows are projected over an extended period of time, which subjects those assumptions and estimates to an even larger degree of uncertainty. While the Company believes that its estimates are reasonable, different assumptions could materially affect the valuation of the long-lived assets. The Company derives future cash flow estimates from its historical experience and its internal business plans, which include consideration of industry trends, competitive actions, technology changes, regulatory actions, available financial resources for marketing and capital expenditures and changes in its underlying cost structure. The Company makes assumptions about the remaining useful life of its long-lived assets. The assumptions are based on the average life of its historical capital asset additions and its historical asset purchase trend. In some cases, due to the nature of a particular industry in which the company operates, the Company may assume that technology changes in such industry render all associated assets, including equipment, obsolete with no salvage value after their useful lives. In certain circumstances in which the underlying assets could be leased for an additional period of time or salvaged, the Company includes such estimated cash flows in its estimate. The estimate of the appropriate discount rate to be used to apply the present value technique in determining fair value was the Company’s weighted average cost of capital which is based on the effective rate of its debt obligations at the current market values (for periods during which the Company had debt obligations) as well as the current volatility and trading value of the Company’s common stock. Value of Business Acquired ("VOBA") VOBA is a liability 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. A VOBA liability (negative asset) occurs when the estimated fair value of in-force contracts in a life insurance company acquisition is less than the amount recorded as insurance contract liabilities. Amortization is based on assumptions consistent with those used in the development of the underlying contract adjusted for emerging experience and expected trends. VOBA amortization are reported within depreciation and amortization in the accompanying consolidated statements of operations. The VOBA balance is 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. Annuity Benefits Accumulated Annuity receipts and benefit payments are recorded as increases or decreases in annuity benefits accumulated rather than as revenue and expense. Increases in this liability (primarily interest credited) are charged to expense and decreases for charges are credited to annuity policy charges revenue. Reserves for traditional fixed annuities are generally recorded at the stated account value. Life, Accident and Health Reserves Liabilities for future policy benefits under traditional life, accident and health policies are computed using the net level premium method. Computations are based on the original projections of investment yields, mortality, morbidity and surrenders and include provisions for unfavorable deviations unless a loss recognition event (premium deficiency) occurs. Claim reserves and liabilities established for accident and health claims are modified as necessary to reflect actual experience and developing trends. For long-duration contracts (such as traditional life and long-term care insurance policies), loss recognition occurs when, based on current expectations as of the measurement date, existing contract liabilities plus the present value of future premiums (including reasonably expected rate increases) are not expected to cover the present value of future claims payments and related settlement and maintenance costs (excluding overhead) as well as unamortized acquisition costs. If a block of business is determined to be in loss recognition, a charge is recorded in earnings in an amount equal to the excess of the present value of expected future claims costs and unamortized acquisition costs over existing reserves plus the present value of expected future premiums (with no provision for adverse deviation). The charge is recorded as an additional reserve (if unamortized acquisition costs have been eliminated). In addition, reserves for traditional life and long-term care insurance policies are subject to adjustment for loss recognition charges that would have been recorded if the unrealized gains from securities had actually been realized. This adjustment is included in unrealized gains (losses) on marketable securities, a component of AOCI. Presentation of Taxes Collected The Company reports a value-added tax assessed by a governmental authority that is directly imposed on a revenue-producing transaction between the Company and a customer on a net basis (excluded from revenues). Foreign Currency Transactions Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rates between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. That increase or decrease in expected functional currency cash flows is reported by the Company as a foreign currency transaction gain (loss). The primary component of the Company’s foreign currency transaction gain (loss) is due to agreements in place with certain subsidiaries in foreign countries regarding intercompany transactions. The Company anticipates repayment of these transactions in the foreseeable future, and recognizes the realized and unrealized gains or losses on these transactions that result from foreign currency changes in the period in which they occur as foreign currency transaction gain (loss). Foreign Currency Translation The assets and liabilities of the Company’s foreign subsidiaries are translated at the exchange rates in effect on the reporting date. Income and expenses are translated at the average exchange rate during the period. The net effect of such translation gains and losses are reflected within AOCI in the stockholders’ equity section of the consolidated balance sheets. Deferred Financing Costs The Company capitalizes certain expenses incurred in connection with its debt and line of credit obligations and amortizes them over the term of the respective debt agreement. The amortization expense of the deferred financing costs is included in interest expense on the consolidated statements of operations. If the Company extinguishes portions of its debt prior to the maturity date, deferred financing costs are charged to expense on a pro-rata basis and are included in loss on early extinguishment or restructuring of debt on the consolidated statements of operations. Subsequent to our early adoption of ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30) (see "New Accounting Pronouncements") effective on December 31, 2015, we reclassified our deferred financing costs to debt obligations and aggregate them with the original issue discount on the consolidated balance sheets. Previously the Company's deferred financing costs had been included in other assets. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of net revenue and expenses during the reporting period. Actual results may differ from these estimates. Significant estimates include allowance for doubtful accounts receivable, the extent of progress towards completion on contracts, contract revenue and costs on long-term contracts, valuation of certain investments and the insurance reserves, market assumptions used in estimating the fair values of certain assets and liabilities, the calculation used in determining the fair value of HC2’s stock options required by ASC 718, Compensation - Stock Compensation ("ASC 718"), income taxes and various other contingencies. Estimates of fair value represent the Company’s best estimates developed with the assistance of independent appraisals or various valuation techniques and, where the foregoing have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially. Revenue and Cost Recognition DBMG DBMG performs its services primarily under fixed-price contracts and recognizes revenues and costs from construction projects using the percentage of completion method. Under this method, revenue is recognized based upon either the ratio of the costs incurred to date to the total estimated costs to complete the project or the ratio of tons fabricated to date to total estimated tons. Revenue recognition begins when work has commenced. Costs include all direct material and labor costs related to contract performance, subcontractor costs, indirect labor, and fabrication plant overhead costs, which are charged to contract costs as incurred. Revenues relating to changes in the scope of a contract are recognized when the Company and customer or general contractor have agreed on both the scope and price of changes, the work has commenced, it is probable that the costs of the changes will be recovered and that realization of revenue exceeding the costs is assured beyond a reasonable doubt. Revisions in estimates during the course of contract work are reflected in the accounting period in which the facts requiring the revision become known. Provisions for estimated losses on uncompleted contracts are made in the period a loss on a contract becomes determinable. Construction contracts with customers generally provide that billings are to be made monthly in amounts which are commensurate with the extent of performance under the contracts. Contract receivables arise principally from the balance of amounts due on progress billings on jobs under construction. Retentions on contract receivables are amounts due on progress billings, which are withheld until the completed project has been accepted by the customer. Costs and recognized earnings in excess of billings on uncompleted contracts primarily represent revenue earned under the percentage of completion method which has not been billed. Billings in excess of related costs and recognized earnings on uncompleted contracts represent amounts billed on contracts in excess of the revenue allowed to be recognized under the percentage of completion method on those contracts. GMSL GMSL generates revenue by providing maintenance services for subsea telecommunications cabling. GMSL also generates revenues from the design and installation of subsea cables under contracts. GMSL also provides installation, maintenance and repair of fiber optic communication and power infrastructure to offshore oil and gas platforms and installs inter-array power cables for use in offshore wind farms and in the offshore wind market. Telecommunication/Maintenance GMSL provides vessels on standby to repair fiber optic telecommunications cables in defined geographic zones, and its maintenance business is provided through contracts with consortia of approximately 60 global telecommunications providers. Typically, GMSL enters into five to seven years contracts to provide maintenance to cable systems that are located in specific geographical areas. Revenue from these maintenance agreements is recognized on a straight line basis unless the pattern of costs associated with repairs indicates otherwise. Telecommunications/Installation GMSL provides installation of cable systems including route planning, mapping, route engineering, cable laying, and trenching and burial. GMSL’s installation business is project-based with fixed price contracts typically lasting one to five months. Revenue is recognized on a time apportioned basis over the length of installation. Charter hire Rentals from short-term operating leases in respect of vessels are recognized as revenue on a straight line basis over the term of the lease. Oil and Gas GMSL provides installation, maintenance and repair of fiber optic communication and power infrastructure to offshore platforms. Its primary activities include providing power from shore, enabling fiber-based communication between platforms and shore-based systems and installing permanent reservoir monitoring systems which allow customers to monitor subsea seismic data. The majority of GMSL’s oil and gas business is contracted on a project-by-project basis with major energy producers or tier I engineering, procurement and construction (EPC) contractors. Revenue is recognized as time and costs are incurred. A loss is recognized immediately if the expected costs during any contract exceed expected revenues. Amounts billed in advance of revenue recognition are recorded as deferred revenue. Insurance Unearned premiums represent that portion of premiums written, which is applicable to the unexpired terms of policies in force. On reinsurance assumed from other insurance companies or written through various underwriting organizations, unearned premiums are based on information received from such companies and organizations. For traditional life, accident and health products, premiums are recognized as revenue when legally collectible from policyholders. For interest-sensitive life and universal life products, premiums are recorded in a policyholder account, which is reflected as a liability. Revenue is recognized as amounts are assessed against the policyholder account for mortality coverage and contract expenses. ICS Net revenue is derived from carrying a mix of business, residential and carrier long-distance traffic, data and Internet traffic. For certain voice services, net revenue is earned based on the number of minutes during a call, and is recorded upon completion of a call. Revenue for a period is calculated from information received through the Company’s network switches. Customized software has been designed to track the information from the switch and analyze the call detail records against stored detailed information about revenue rates. This software provides the Company the ability to do a timely and accurate analysis of revenue earned in a period. Net revenue represents gross revenue, net of allowance for doubtful accounts receivable, service credits and service adjustments. Cost of revenue includes network costs that consist of access, transport and termination costs. The majority of the Company’s cost of revenue is variable, primarily based upon minutes of use, with transmission and termination costs being the most significant expense. Pensions GMSL operates various pension schemes comprising both defined benefit plans and defined contribution plans. GMSL also makes contributions on behalf of employees who are members of the Merchant Navy Officers Pension Fund ("MNOPF"). For the defined benefit plans and the MNOPF plan, the amounts charged to income (loss) from operations are the current service costs and the gains and losses on settlements and curtailments. These are included as part of staff costs. Past service costs are recognized immediately if the benefits have vested. If the benefits have not vested immediately, the costs are recognized over the period vesting occurs. The interest costs and expected return of assets are shown as a net amount and included in interest income and other income (expense). Actuarial gains and losses are recognized immediately in the consolidated statements of operations. Defined benefit plans are funded with the assets of the plan held separately from those of GMSL, in separate trustee administered funds. Pension plan assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method discounted at a rate of equivalent currency and term to the plan liabilities. The actuarial valuations are obtained annually. For the defined contribution plans, the amount charged to income (loss) from operations in respect of pension costs is the contributions payable in the period. Differences between contributions payable in the period and contributions actually paid are shown as either accruals or prepayments in the consolidated balance sheets. Share-Based Compensation The Company accounts for share-based compensation issued to employees in accordance with the provisions of ASC 718 and to non-employees pursuant to ASC 505-50, Equity-based payments to non-employees. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for using a fair-value based method. The Company records share-based compensation expense for all new and unvested stock options that are ultimately expected to vest as the requisite service is rendered. The Company issues new shares of common stock upon the exercise of stock options. The Company elected to adopt the alternative transition method for calculating the tax effects of share-based compensation. The alternative transition method includes simplified methods to determine the beginning balance of the APIC pool related to the tax effects of share-based compensation and to determine the subsequent impact on the APIC pool and the statement of cash flows of the tax effects of share-based awards that were fully vested and outstanding upon the adoption of ASC 718. The Company uses a Black-Scholes option valuation model to determine the grant date fair value of share-based compensation under ASC 718. The Black-Scholes model incorporates various assumptions including the expected term of awards, volatility of stock price, risk-free rates of return and dividend yield. The expected term of an award is no less than the option vesting period and is based on the Company’s historical experience. Expected volatility is based upon the historical volatility of the Company’s stock price. The risk-free interest rate is approximated using rates available on U.S. Treasury securities with a remaining term similar to the option’s expected life. The Company uses a dividend yield of zero in the Black-Scholes option valuation model as it does not anticipate paying cash dividends in the foreseeable future that do not contain anti-dilution provisions requiring the adjustment of exercise prices and option shares. Share-based compensation is recorded net of expected forfeitures. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk principally consist of trade accounts receivable. The Company performs ongoing credit evaluations of its customers but generally does not require collateral to support customer receivables. The Company maintains its cash with high quality credit institutions, and its cash equivalents are in high quality securities. Income (Loss) Per Common Share Basic income (loss) per common share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per common share is computed using the weighted average number of shares of common stock, adjusted for the dilutive effect of potential common stock and related income from continuing operations, net of tax. Potential common stock, computed using the treasury stock method or the if-converted method, includes options, warrants, restricted stock, restricted stock units and convertible preferred stock. In periods when the Company generates income, the Company calculates basic Earnings Per Share ("EPS") using the two-class method, pursuant to ASC No. 260, Earnings Per Share. The two-class method is required as the shares of the Company’s preferred stock qualify as participating securities, having the right to receive dividends should dividends be declared on common stock. Under this method, earnings for the period are allocated to the common stock and preferred stock to the extent that each security may share in earnings as if all of the earnings for the period had been distributed. The Company does not use the two-class method in periods when it generates a loss as the holders of the preferred stock do not participate in losses. Reclassification Certain previous year amounts have been reclassified to conform with current year presentations, as related to the reporting of new balance sheet line items. Adjustments During the second quarter of 2016, the Company identified an immaterial error in its calculation of depreciation expense for the twelve months ended December 31, 2015 and 2014 and the three months ended March 31, 2016 related to purchase accounting associated with the acquisition of DBMG in May 2014. This resulted in an excess depreciation expense being recorded in each of the periods noted. In addition, certain gains and losses on assets that were disposed of by DBMG were incorrectly recorded during the same periods as a result of these adjustments. The net impact of these adjustments to net income would have been an increase of $0.7 million and a decrease of $0.2 million for the twelve months ended December 31, 2015 and 2014, respectively, and an increase of $0.8 million for the year ended December 31, 2016. The Company determined to correct the cumulative effect of these adjustments in the second quarter of 2016, which resulted in a net adjustment to net income (loss) attributable to common and participating preferred stockholders for the year ended December 31, 2016 of $1.3 million. Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its Consolidated Financial Statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial condition, results of operations or liquidity. Accounting Pronouncements Early Adopted During the Fiscal Year Testing for Goodwill Impairment In January 2017, the FASB issued Accounting Standards Updates ("ASU") 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. Topic 350, Intangibles - Goodwill and Other (Topic 350), currently requires an entity that has not elected the private company alternative for goodwill to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of the goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. To address concerns over the cost and complexity of the two-step goodwill impairment test, the amendments in this ASU remove the second step of the test. An entity will now apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The Company elected to early adopt ASU 2017-04 effective March 31, 2017, resulting in no impact to the Consolidated Financial Statements. New Accounting Pronouncements to be Adopted Subsequent to December 31, 2017 Reporting Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI. The new guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years and should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate or law in U.S. Tax Reform is recognized. Early adoption is permitted. Current GAAP guidance requires that the effect of a change in tax laws or rates on deferred tax liabilities or assets to be included in income from continuing operations in the reporting period that includes the enactment date, even if the related income tax effects were originally charged or credited directly to AOCI. The new guidance allows a reclassification of AOCI to retained earnings for stranded tax effects resulting from U.S. Tax Reform. Also, the new guidance requires certain disclosures about stranded tax effects. The Company is currently in the process of evaluating the impact of this guidance on our consolidated financial statements and expects minimal impact. Accounting for Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The guidance requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected by deducting an allowance for credit losses from the amortized cost basis of the financial assets. For available-for-sale debt securities, the new guidance aligns the income statement recognition of credit losses with the reporting period in which changes occur by recording credit losses through an allowance rather than a write-down and allowing subsequent reversals in credit loss estimates to be recognized in current income. The measurement of expected credit losses will be based on historical experience, current conditions and reasonable and supportable forecasts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The guidance should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. For certain assets, a prospective transition approach is required. The Company expects to adopt this ASU in its Consolidated Financial Statements beginning January 1, 2020 and is currently unable to quantify the impact of adopting this guidance. The ultimate impact will depend on the Company’s investment portfolio at the time the new standard is adopted. Accounting for Leases In February 2016, the FASB issued ASU 2016-02, Leases. The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. The Company has started evaluating its lease arrangements to determine the impact of this amendment on the financial statements. The evaluation includes an extensive review of the leases, which are primarily related to our vessels and office space. Additionally, the Company has begun tracking separate accounting records for leases entered into starting January 1, 2017 under the new guidance to facilitate future implementation. In January 2018, the FASB issued ASU 2018-01, Leases (Topic 842) - Land Easement Practical Expedient for Transition to Topic 842, which provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. The effective date and transition requirements for ASU 2018-01 are the same as ASU 2016-02. Early adoption is permitted. The Company expects to adopt this and related ASUs in its Consolidated Financial Statements beginning January 1, 2019 and is currently in the process of evaluating the impact of this guidance on its consolidated financial statements. The ultimate impact will depend on the Company’s lease portfolio at the time the new standard is adopted. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, as amended by ASU 2018-03, Financial Instruments-Overall: Technical Corrections and Improvements, issued in February 2018 on the recognition and measurement of financial instruments. The new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for the instrument-specific credit risk provision. The new guidance changes the current accounting guidance related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Additionally, there will no longer be a requirement to assess equity securities for impairment since such securities will be measured at fair value through net income. The Company has assessed the population of financial instruments that are subject to the new guidance and has determined that the most significant impact will be the requirement to report changes in fair value in net income each reporting period for all equity securities currently classified as available for sale. The Company utilized a modified retrospective approach to adopt the new guidance effective January 1, 2018. The expected impact related to the change in accounting for equity securities will be approximately $1.1 million of net unrealized investment gains, net of income tax, which will be reclassified from AOCI to retained earnings. Revenue Recognition In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU supersedes the revenue recognition requirements in Revenue Recognition (Topic 605). Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal Versus Agent Considerations, which clarifies the guidance in ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, an update on identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, which includes amendments for enhanced clarification of the guidance. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Revenue from Contracts with Customers (Topic 606), which includes amendments of a similar nature to the items typically addressed in the technical corrections and improvements project. Lastly, in February 2017, the FASB issued ASU 2017-05, clarifying the scope of asset derecognition guidance and accounting for partial sales of nonfinancial assets to clarify the scope of ASC 610-20, Other Income - Gains and Losses from Derecognition of Nonfinancial Assets, and provide guidance on partial sales of nonfinancial assets. This ASU clarifies that the unit of account under ASU 610-20 is each distinct nonfinancial or in substance nonfinancial asset and that a financial asset that meets the definition of an "in substance nonfinancial asset" is within the scope of ASC 610-20. This ASU eliminates rules specifically addressing sales of real estate and removes exceptions to the financial asset derecognition model. The ASUs described above are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company adopted the new standard effective January 1, 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. We have completed our evaluation of the standard’s impact on our revenue streams, including updating internal controls and the related qualitative disclosures regarding the potential impact of the effects of the accounting policies and a comparison to the Company’s current revenue recognition policies. While not material to the Company, the adoption of ASU 2014-09 will have an impact on 704Games' results of operations. As the Company is adopting ASU 2014-09 utilizing the modified retrospective approach, the Company will recognize previously deferred revenue in retained earnings on January 1, 2018, and going forward, software revenues, which were previously deferred, will be recognized upon sale to the customer. The adoption of this standard did not have a material impact on our consolidated financial statements as of the adoption date. The Company expects to expand its qualitative disclosures within the notes to the consolidated financial statements. Instruments with down round feature In July 2017, the FASB issued ASU 2017-11 Earnings Per Share (Topic 260) Distinguishing Liabilities from Equity (Topic 480) Derivatives and Hedging (Topic 815), which changes the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. ASU 2017-11 also clarifies existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, ASU 2017-11 requires entities that present EPS in accordance with ASC Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. For the Company, ASU 2017-11 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the implementation date and the impact of this amendment on its financial statements.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

5. Fair Value of Financial Instruments

Assets by Hierarchy Level

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):



December 31, 2017			Fair Value Measurement Using:
December 31, 2017	Total		Level 1		Level 2		Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	15,722	$	5,094	$	10,628	$	—
States, municipalities and political subdivisions	395,450		—		389,439		6,011
Foreign government	5,998		—		5,998		—
Residential mortgage-backed securities	104,895		—		90,283		14,612
Commercial mortgage-backed securities	30,405		—		18,248		12,157
Asset-backed securities	147,926		—		14,184		133,742
Corporate and other	640,230		2,098		611,844		26,288
Total fixed maturity securities	1,340,626		7,192		1,140,624		192,810
Equity securities
Common stocks	4,928		4,771		—		157
Perpetual preferred stocks	42,572		7,665		28,470		6,437
Total equity securities	47,500		12,436		28,470		6,594
Derivatives	260		—		—		260
Total assets accounted for at fair value	$	1,388,386	$	19,628	$	1,169,094	$	199,664



Liabilities
Warrant liability	$	3,826	$	—	$	—	$	3,826
Other	944		—		—		944
Total liabilities accounted for at fair value	$	4,770	$	—	$	—	$	4,770



December 31, 2016			Fair Value Measurement Using:
December 31, 2016	Total		Level 1		Level 2		Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	15,950	$	5,140	$	10,778	$	32
States, municipalities and political subdivisions	375,077		—		369,387		5,690
Foreign government	5,978		—		5,978		—
Residential mortgage-backed securities	138,196		—		82,242		55,954
Commercial mortgage-backed securities	49,053		—		6,035		43,018
Asset-backed securities	77,665		—		4,448		73,217
Corporate and other	617,039		2,020		594,653		20,366
Total fixed maturity securities	1,278,958		7,160		1,073,521		198,277
Equity securities
Common stocks	14,865		10,290		—		4,575
Perpetual preferred stocks	36,654		9,312		27,342		—
Total equity securities	51,519		19,602		27,342		4,575
Derivatives	3,813		—		—		3,813
Total assets accounted for at fair value	$	1,334,290	$	26,762	$	1,100,863	$	206,665



Liabilities
Warrant liability	$	4,058	$	—	$	—	$	4,058
Contingent liability	11,411		—		—		11,411
Other	816		—		—		816
Total liabilities accounted for at fair value	$	16,285	$	—	$	—	$	16,285

The Company 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 during the year ended December 31, 2017. The Company transferred $1.1 million of corporate and other bonds and $0.5 million of preferred stock from Level 1 into Level 2 during the year ended December 31, 2016, reflecting the level of market activity in these instruments.

Availability of secondary market activity and consistency of pricing from third-party sources impacts the Company's ability to classify securities as Level 2 or Level 3. The Company’s assessment resulted in a net transfer out of Level 3 of $62.9 million and into of Level 3 of $3.3 million, primarily related to structured securities, during the years ended December 31, 2017 and 2016, respectively.

The methods and assumptions the Company uses to estimate the fair value of assets and liabilities measured at fair value on a recurring basis are summarized below:

Fixed Maturity Securities. The fair values of the Company’s publicly-traded fixed maturity securities are generally based on prices obtained from independent pricing services. Prices from pricing services are sourced from multiple vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise. In some cases, the Company receives prices from multiple pricing services for each security, but ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type. Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2, as they are primarily based on observable pricing for similar assets and/or other market observable inputs.

If the Company ultimately concludes that pricing information received from the independent pricing service is not reflective of market activity, non-binding broker quotes are used, if available. If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may override the information from the pricing service or broker with an internally developed valuation, however, this occurs infrequently. Internally developed valuations or non-binding broker quotes are also used to determine fair value in circumstances where vendor pricing is not available. These estimates may use significant unobservable inputs, which reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset. Pricing service overrides, internally developed valuations and non-binding broker quotes are generally based on significant unobservable inputs and are reflected as Level 3 in the valuation hierarchy.

The inputs used in the valuation of corporate and government securities include, but are not limited to, standard market observable inputs which are derived from, or corroborated by, market observable data including market yield curve, duration, call provisions, observable prices and spreads for similar publicly traded or privately traded issues that incorporate the credit quality and industry sector of the issuer.

For structured securities, valuation is based primarily on matrix pricing or other similar techniques using standard market inputs including spreads for actively traded securities, spreads off benchmark yields, expected prepayment speeds and volumes, current and forecasted loss severity, rating, weighted average coupon, weighted average maturity, average delinquency rates, geographic region, debt-service coverage ratios and issuance-specific information including, but not limited to: collateral type, payment terms of the underlying assets, payment priority within the tranche, structure of the security, deal performance and vintage of loans.

When observable inputs are not available, the market standard valuation techniques for determining the estimated fair value of certain types of securities that trade infrequently, and therefore have little or no price transparency, rely on inputs that are significant to the estimated fair value but that are not observable in the market or cannot be derived principally from or corroborated by observable market data. These unobservable inputs are sometimes based in large part on management judgment or estimation, and cannot be supported by reference to market activity. Even though unobservable, these inputs are based on assumptions deemed appropriate given the circumstances and are believed to be consistent with what other market participants would use when pricing such securities.

The fair values of private placement securities are primarily determined using a discounted cash flow model. In certain cases, these models primarily use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements. Generally, these securities have been reflected within Level 3. For certain private fixed maturity securities, the discounted cash flow model may also incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the security. To the extent management determines that such unobservable inputs are not significant to the price of a security, a Level 2 classification is made. Otherwise, a Level 3 classification is used.

Equity Securities. The balance consists principally of common and preferred stock of publicly and privately traded companies. The fair values of publicly traded equity securities are primarily based on quoted market prices in active markets and are classified within Level 1 in the fair value hierarchy. The fair values of preferred equity securities, for which quoted market prices are not readily available, are based on prices obtained from independent pricing services and these securities are generally classified within Level 2 in the fair value hierarchy. The fair value of common stock of privately held companies was determined using unobservable market inputs, including volatility and underlying security values and was classified as Level 3.

Cash Equivalents. The balance consists of money market instruments, which are generally valued using unadjusted quoted prices in active markets that are accessible for identical assets and are primarily classified as Level 1. Various time deposits carried as cash equivalents are not measured at estimated fair value and, therefore, are excluded from the tables presented.

Derivatives. The balance consists of common stock purchase warrants and call options. The fair values of the call options are primarily based on quoted market prices in active markets and are classified within Level 1 in the fair value hierarchy. Depending on the terms, the common stock warrants were valued using either Black-Scholes analysis or Monte Carlo Simulation. Fair value was determined using unobservable market inputs, including volatility and underlying security values. As such, the common stock purchase warrants were classified as Level 3.

Warrant Liability. The balance represents warrants issued in connection with the acquisition of the Insurance business and recorded within other liabilities on the Consolidated Balance Sheets. Fair value was determined using the Monte Carlo Simulation because the adjustments for exercise price and warrant shares represent path dependent features; the exercise price from comparable periods needs to be known to determine whether a subsequent sale of shares occurs at a price that is lower than the then current exercise price. The analysis entails a Geometric Brownian Motion based simulation of 100 unique price paths of the Company's stock for each combination of assumptions. Fair value was determined using unobservable market inputs, including volatility, and a range of assumptions regarding a possibility of an equity capital raise each year and the expected size of future equity capital raises. The present value of a given simulated scenario was based on intrinsic value at expiration discounted to the valuation date, taking into account any adjustments to the exercise price or warrant shares issuable. The average present value across all 100 independent price paths represents the estimate of fair value for each combination of assumptions. Therefore, the warrant liability was classified as Level 3.

Contingent Liability. The balance represents the present value of the estimated obligation pursuant to the acquisition of the Insurance business. Fair value was determined using unobservable market inputs, including probability of rate increases as approved by state regulators. The liability was classified as Level 3.

Level 3 Measurements and Transfers

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 the years ended December 31, 2017 and 2016, respectively (in thousands):



				Total realized/unrealized gains (losses) included in
	Balance at December 31, 2016				Net earnings (loss)			Other comp. income (loss)				Purchases and issuances		Sales and settlements				Transfer to Level 3			Transfer out of Level 3			Balance at December 31, 2017
Assets
Fixed maturity securities
U.S. Government and government agencies		$	32		$	—			$	—		$	—		$	(17	)		$	—	$	(15	)	$	—
States, municipalities and political subdivisions		5,690			(113		)		(143		)	573			—				1,636		(1,632		)	6,011
Residential mortgage-backed securities		55,954			(370		)		1,169			3,465			(8,964		)		3,203		(39,845		)	14,612
Commercial mortgage-backed securities		43,018			(314		)		345			—			(10,072		)		8,620		(29,440		)	12,157
Asset-backed securities		73,217			1,151				1,495			149,163			(80,615		)		1,065		(11,734		)	133,742
Corporate and other		20,366			(3,361		)		3,776			12,741			(7,914		)		10,606		(9,926		)	26,288
Total fixed maturity securities		198,277			(3,007		)		6,642			165,942			(107,582		)		25,130		(92,592		)	192,810
Equity securities
Common stocks		4,575			(3,151		)		232			—			—				281		(1,780		)	157
Perpetual preferred stocks		—			—				336			—			—				6,101		—			6,437
Total equity securities		4,575			(3,151		)		568			—			—				6,382		(1,780		)	6,594
Derivatives		3,813			(1,588		)		—			—			(1,965		)		—		—			260
Total financial assets		$	206,665		$	(7,746	)		$	7,210		$	165,942		$	(109,547	)		$	31,512	$	(94,372	)	$	199,664



				Total realized/unrealized (gains) losses included in
	Balance at December 31, 2016			Net (earnings) loss			Other comp. (income) loss			Purchases and issuances		Sales and settlements			Transfer to Level 3			Transfer out of Level 3		Balance at December 31, 2017
Liabilities
Warrant liability		$	4,058	$	(232	)		$	—	$	—		$	—		$	—	$	—	$	3,826
Contingent liability		11,411		(11,411		)		—		—			—			—		—		—
Other		816		128				—		—			—			—		—		944
Total financial liabilities		$	16,285	$	(11,515	)		$	—	$	—		$	—		$	—	$	—	$	4,770



				Total realized/unrealized gains (losses) included in
	Balance at December 31, 2015			Net earnings (loss)			Other comp. income (loss)				Purchases and issuances		Sales and settlements				Transfer to Level 3			Transfer out of Level 3			Balance at December 31, 2016
Assets
Fixed maturity securities
U.S. Government and government agencies		$	73	$	—			$	2		$	—		$	(43	)		$	—	$	—			$	32
States, municipalities and political subdivisions		5,659		401				(370		)	—			—				—		—				5,690
Residential mortgage-backed securities		79,019		(1,928		)		1,374			—			(14,656		)		16,878		(24,733		)		55,954
Commercial mortgage-backed securities		60,525		(958		)		275			—			(21,548		)		12,515		(7,791		)		43,018
Asset-backed securities		27,653		963				1,413			59,379			(23,457		)		14,426		(7,160		)		73,217
Corporate and other		13,944		16				(1,610		)	13,369			(4,475		)		2,091		(2,969		)		20,366
Total fixed maturity securities		186,873		(1,506		)		1,084			72,748			(64,179		)		45,910		(42,653		)		198,277
Equity securities																								—
Common stocks		4,932		—				(357		)	—			—				—		—				4,575
Total equity securities		4,932		—				(357		)	—			—				—		—				4,575
Derivatives		4,211		(580		)		—			230			(48		)		—		—				3,813
Contingent asset		—		(156		)		—			2,992			(2,836		)		—		—				—
Total financial assets		$	196,016	$	(2,242	)		$	727		$	75,970		$	(67,063	)		$	45,910	$	(42,653	)		$	206,665



				Total realized/unrealized (gains) losses included in
	Balance at December 31, 2015			Net (earnings) loss			Other comp. (income) loss			Purchases and issuances		Sales and settlements				Transfer to Level 3			Transfer out of Level 3		Balance at December 31, 2016
Liabilities
Warrant liability		$	4,332	$	(274	)		$	—	$	—		$	—			$	—	$	—		$	4,058
Contingent liability		—		8,773				—		2,995			(357		)		—		—			11,411
Other		—		(674		)		—		1,490			—				—		—			816
Total financial liabilities		$	4,332	$	7,825			$	—	$	4,485		$	(357	)		$	—	$	—		$	16,285

Internally developed fair values of Level 3 assets represent less than 1% of the Company’s total assets. Any justifiable changes in unobservable inputs used to determine internally developed fair values would not have a material impact on the Company’s financial position.

Fair Value of Financial Instruments Not Measured at Fair Value

The following table presents the carrying amounts and estimated fair values of the Company’s financial instruments, which were not measured at fair value on a recurring basis. The table excludes carrying amounts for cash, accounts receivable, costs and recognized earnings in excess of billings, accounts payable, accrued expenses, billings in excess of costs and recognized earnings, and other current assets and liabilities approximate fair value due to relatively short periods to maturity (in thousands):



December 31, 2017					Fair Value Measurement Using:
December 31, 2017	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans	$	52,109	$	52,110	$	—	$	—	$	52,110
Policy loans	17,944		17,944		—		17,944		—
Other invested assets	2,906		3,757		—		—		3,757
Total assets not accounted for at fair value	$	72,959	$	73,811	$	—	$	17,944	$	55,867
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	243,156	$	240,361	$	—	$	—	$	240,361
Debt obligations ⁽²⁾	544,211		552,413		—		552,413		—
Total liabilities not accounted for at fair value	$	787,367	$	792,774	$	—	$	552,413	$	240,361



December 31, 2016					Fair Value Measurement Using:
December 31, 2016	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans	$	16,831	$	16,832	$	—	$	—	$	16,832
Policy loans	18,247		18,247		—		18,247		—
Other invested assets	5,719		4,597		—		—		4,597
Total assets not accounted for at fair value	$	40,797	$	39,676	$	—	$	18,247	$	21,429
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	251,270	$	249,372	$	—	$	—	$	249,372
Debt obligations ⁽²⁾	378,780		376,081		—		376,081		—
Total liabilities not accounted for at fair value	$	630,050	$	625,453	$	—	$	376,081	$	249,372

⁽¹⁾Excludes life contingent annuities in the payout phase.

⁽²⁾ Excludes certain lease obligations accounted for under ASC 840, Leases.

Mortgage Loans on Real Estate. The fair value of mortgage loans on real estate is estimated by discounting cash flows, both principal and interest, using current interest rates for mortgage loans with similar credit ratings and similar remaining maturities. As such, inputs include current treasury yields and spreads, which are based on the credit rating and average life of the loan, corresponding to the market spreads. The valuation of mortgage loans on real estate is considered Level 3 in the fair value hierarchy.

Policy Loans. The policy loans are reported at the unpaid principal balance and carry a fixed interest rate. The Company determined that the carrying value approximates fair value because (i) policy loans present no credit risk as the amount of the loan cannot exceed the obligation due upon the death of the insured or surrender of the underlying policy; (ii) there is no active market for policy loans (i.e., there is no commonly available exit price to determine the fair value of policy loans in the open market); (iii) policy loans are intricately linked to the underlying policy liability and, in many cases, policy loan balances are recovered through offsetting the loan balance against the benefits paid under the policy; and (iv) policy loans can be repaid by policyholders at any time, and this prepayment uncertainty reduces the potential impact of a difference between amortized cost (carrying value) and fair value. The valuation of policy loans is considered Level 2 in the fair value hierarchy.

Other Invested Assets. The balance primarily includes common stock purchase warrants. The fair values were derived using Black-Scholes analysis using unobservable market inputs, including volatility and underlying security values; therefore, the common stock purchase warrants were classified as Level 3.

Annuity Benefits Accumulated. The fair value of annuity benefits was determined using the surrender values of the annuities and classified as Level 3.

Debt Obligations. The fair value of the Company’s debt obligations was determined using Bloomberg Valuation Service BVAL. The methodology combines direct market observations from contributed sources with quantitative pricing models to generate evaluated prices and classified as Level 2.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accounts Receivable

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Accounts Receivable

6. Accounts Receivable

Accounts receivable consists of the following (in thousands):



	December 31,
	2017			2016
Contracts in progress	$	167,809		$	121,666
Trade receivables	106,937			113,380
Unbilled retentions	50,957			35,069
Other receivables	476			1,102
Allowance for doubtful accounts	(3,733		)	(3,619		)
Total accounts receivable	$	322,446		$	267,598

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Inventory

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Inventory

7. Inventory

Inventory is recognized in the consolidated balance sheets within Other assets, and consists of the following (in thousands):



	December 31,
	2017		2016
Raw materials and consumables	$	11,832	$	8,572
Work in process	696		850
Finished goods	211		226
	$	12,739	$	9,648

Recoverable from Reinsurers

12 Months Ended

Dec. 31, 2017

Insurance [Abstract]

Recoverable from Reinsurers

8. Recoverable from Reinsurers

Recoverable from reinsurers consists of the following (in thousands):



		December 31, 2017				December 31, 2016
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Hannover Life Reassurance Co	A+	$	336,852	64.0	%	$	337,967	64.5	%
Loyal American Life Insurance Co (Cigna)	A-	140,552		26.7	%	139,269		26.5	%
Great American Life Insurance Co	A	48,933		9.3	%	46,965		9.0	%
Total		$	526,337	100.0	%	$	524,201	100.0	%

Property, Plant, and Equipment, net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment, net

9. Property, Plant, and Equipment, net

Property, plant, and equipment consists of the following (in thousands):



	December 31,
	2017		2016
Land	$	30,313	$	21,006
Building and leasehold improvements	34,632		31,713
Plant and transportation equipment	6,631		5,551
Cable-ships and submersibles	251,840		169,034
Equipment, furniture and fixtures, and software	127,409		101,421
Construction in progress	19,927		19,889
	470,752		348,614
Less: Accumulated depreciation	96,092		62,156
	$	374,660	$	286,458

Depreciation expense was $35.8 million, $28.9 million, and $26.8 million for the years ended December 31, 2017, 2016, and 2015, respectively. These amounts included $5.3 million, $4.4 million, and $7.9 million of depreciation expense within cost of revenue for the years ended December 31, 2017, 2016, and 2015, respectively. For the year ended December 31, 2016, the Company corrected the cumulative effect of an adjustment related to purchase accounting associated with the acquisition of DBMG in May 2014. See Note 2 for further details.

As of December 31, 2017 and December 31, 2016, total net book value of equipment under capital leases consisted of $45.3 million and $51.0 million of cable-ships, submersibles, and equipment.

In June 2017, the NerVve recorded an impairment of $1.2 million. Computer software and other fixed assets were written down to zero as a result of deteriorated business conditions. This impairment charge is included in Other operating (income) expenses in our Consolidated Statements of Operations for the year ended December 31, 2017.

Goodwill and Intangibles, net

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles, net

10. Goodwill and Intangibles, net

Goodwill

The changes in the carrying amount of goodwill by segment are as follows (in thousands):



	Construction			Marine Services		Energy			Telecom		Insurance		Life Sciences		Other			Total
Balance at December 31, 2015		$	24,490	$	1,134	$	1,374		$	3,378	$	29,021	$	—	$	1,781		$	61,178
Reclassification		—		—		—			—		—		—		14			14
Acquisitions		11,827		1,334		1,257			—		18,269		3,620		587			36,894
Balance at December 31, 2016		$	36,317	$	2,468	$	2,631		$	3,378	$	47,290	$	3,620	$	2,382		$	98,086
Measurement period adjustment		—		—		(509		)	—		—		—		—			(509		)
Acquisitions		2,290		11,783		—			—		—		—		20,678			34,751
Impairments		—		—		—			—		—		—		(587		)	(587		)
Balance at December 31, 2017		$	38,607	$	14,251	$	2,122		$	3,378	$	47,290	$	3,620	$	22,473		$	131,741

On an annual basis, the Company performs it's Goodwill impairment review. After considering all quantitative and qualitative factors, other than noted below, the Company has determined that it is more likely than not that the reporting units' fair values exceed carrying values as of the period end.

During the second quarter of 2017, the Company concluded that a step 1 test of goodwill for NerVve was necessary. This conclusion was based on certain indicators of impairment related to NerVve's deteriorated business conditions. The Company estimated the fair value of the NerVve reporting unit, using the income approach, at an implied fair value of goodwill of $0 and an impairment charge of $0.6 million was recorded. This impairment charge is included in Other operating (income) expenses in our Consolidated Statements of Operations for the year ended December 31, 2017.

Indefinite-lived Intangible Assets

The acquisition of the Insurance Company resulted in state licenses which are considered indefinite-lived intangible assets not subject to amortization. The consolidation of BeneVir in 2016 resulted in the recording of developed technology not subject to amortization.

Indefinite-lived intangible assets consists of the following (in thousands):



	December 31,
	2017		2016
State licenses	$	2,450	$	2,450
FCC licenses	76,490		—
Developed technology	6,392		6,392
Total	$	85,332	$	8,842

In 2017, Broadcasting and its subsidiaries strategically acquired broadcast assets across the United States resulting in the recording of FCC licenses. As long as the Company acts within the requirements and constraints of the regulatory authorities, the renewal and extension of these licenses is reasonably certain at minimal costs. Accordingly we have concluded that FCC licenses are indefinite-lived intangible assets.

In 2016, the Insurance Company filed applications with the ODOI and the TDOI to redomesticate CGI from Ohio to Texas. In conjunction with the redomestication, the Insurance Companies filed a request with the TDOI to merge the two companies (with CGI as the surviving entity), which was approved as of December 31, 2016. As a result of the merger the Company recorded a $2.4 million impairment to the indefinite-lived state licenses in 2016. The impairment was included within Asset impairment expense in the Consolidated Statement of Operations.

The consolidation of BeneVir in 2016 resulted in the recording of an in-process research and development intangible asset not subject to amortization valued at $6.4 million.

Definite Lived Intangible Assets

The gross carrying amount and accumulated amortization of amortizable intangible assets by major intangible asset class is as follows (in thousands):



	Weighted-Average Original Useful Life	December 31, 2017							December 31, 2016
	Weighted-Average Original Useful Life	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Trade names	11 Years	$	13,981	$	(4,527	)	$	9,454	$	13,004	$	(3,113	)	$	9,891
Customer relationships	12 Years	21,657		(4,681		)	16,976		20,865		(2,194		)	18,671
Developed technology	4 Years	3,823		(3,601		)	222		4,739		(3,197		)	1,542
Other	4 Years	5,374		(253		)	5,121		787		(11		)	776
Total		$	44,835	$	(13,062	)	$	31,773	$	39,395	$	(8,515	)	$	30,880

Amortization expense for amortizable intangible assets was $5.4 million, $3.8 million, and $4.4 million for the years ended December 31, 2017, 2016, and 2015 respectively, and was included in Depreciation and amortization in the Consolidated Statements of Operations.

VOBA

VOBA is amortized in relation to the projected future premium of the acquired long-term care blocks of business and recorded amortization increases net income for the respective period. Total negative amortization recorded for the years ended December 31, 2017, 2016, and 2015 was $4.6 million, $3.9 million and $0.1 million, respectively.

Excluding the impact of any future acquisitions or change in foreign currency, the Company estimates annual amortization of amortizable intangible assets and VOBA for the next five fiscal years will be as follows (in thousands):



	Estimated Amortization Expense		VOBA
2018	$	4,160	$	(2,475	)
2019	3,887		(2,458		)
2020	3,762		(2,555		)
2021	3,575		(2,539		)
2022	3,470		(2,522		)
Thereafter	12,919		(30,420		)
Total	$	31,773	$	(42,969	)

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Life, Accident and Health Reserves

12 Months Ended

Dec. 31, 2017

Insurance [Abstract]

Life, Accident and Health Reserves

11. Life, Accident and Health Reserves

Life, accident and health reserves consist of the following (in thousands):



	December 31,
	2017		2016
Long-term care insurance reserves	$	1,453,442	$	1,407,848
Other accident and health insurance reserves	140,568		138,640
Traditional life insurance reserves	99,951		102,077
Total life, accident and health reserves	$	1,693,961	$	1,648,565

The following table sets forth changes in the liability for claims for the portion of our long-term care insurance reserves in scope of the ASU 2015-09 disclosure requirements (in thousands):



	Years Ended December 31,
	2017			2016
Beginning balance	$	226,970		$	208,150
Less: recoverable from reinsurers	(97,858		)	(94,041		)
Beginning balance, net	129,112			114,109
Incurred related to insured events of:
Current year	55,371			54,521
Prior years	(1,254		)	631
Total incurred	54,117			55,152
Paid related to insured events of:
Current year	(6,678		)	(8,097		)
Prior years	(38,578		)	(36,457		)
Total paid	(45,256		)	(44,554		)
Interest on liability for policy and contract claims	4,872			4,405
Ending balance, net	142,845			129,112
Add: recoverable from reinsurers	100,611			97,858
Ending balance	$	243,456		$	226,970

The Company experienced favorable claims reserve development of $1.3 million in 2017 and unfavorable claims reserve development of $0.6 million in 2016.

Accounts Payable and Other Current Liabilities

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Accounts Payable and Other Current Liabilities

12. Accounts Payable and Other Current Liabilities

Accounts payable and other current liabilities consist of the following (in thousands):



	December 31,
	2017		2016
Accounts payable	$	119,236	$	66,792
Accrued expenses and other current liabilities	99,489		55,573
Accrued interconnection costs	73,383		93,661
Accrued payroll and employee benefits	44,312		28,668
Accrued interest	4,636		3,056
Accrued income taxes	6,436		3,983
Total accounts payable and other current liabilities	$	347,492	$	251,733

Debt Obligations

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Debt Obligations

13. Debt Obligations

Debt obligations consist of the following (in thousands):



	December 31,
	2017			2016
Corporate
11.0% Senior Secured Notes due in 2019	$	400,000		$	307,000
Construction
LIBOR plus 2.5% Notes due in 2018 and 2019	6,738			9,439
LIBOR plus 2.0% Line of Credit	19,670			—
Marine Services
Notes payable and revolving lines of credit, various maturity dates	23,748			17,522
LIBOR plus 3.65% Notes, due in 2019	—			3,026
Obligations under capital leases	48,500			49,717
Energy
4.5% Note due in 2022⁽¹⁾	12,454			13,343
5.04% Term Loan due in 2022	13,706			—
4.25% Seller Note due in 2022	2,336			2,796
LIBOR plus 3.0% Pioneer Demand Note	1,031			—
Other	996			576
Life Sciences
Notes due in 2018	1,750			—
Other
11.0% Senior Secured Bridge Note, due in 2019 (the "11.0% Bridge Notes")	—			35,000
LIBOR plus applicable margin Bridge Note, due in 2018⁽²⁾	60,000			—
Notes payable, various maturity dates	10,189			—
Total	601,118			438,419
Issuance discount, net and deferred financing costs	(7,946		)	(9,923		)
Debt obligations	$	593,172		$	428,496

⁽¹⁾ANG refinanced and consolidated all three of its loans with Pioneer during the first quarter of 2017.

⁽²⁾On February 6, 2018, Broadcasting borrowed $42.0 million in principal amount of Bridge Loans.

Aggregate capital lease and debt payments, including interest are as follows (in thousands):



	Capital Leases			Debt			Total
2018	$	10,211		$	144,440		$	154,651
2019	9,996			459,570			469,566
2020	10,202			9,234			19,436
2021	10,045			6,415			16,460
2022	10,038			6,077			16,115
Thereafter	8,027			19,101			27,128
Total minimum principal & interest payments	58,519			644,837			703,356
Less: Amount representing interest	(9,562		)	(92,676		)	(102,238		)
Total aggregate capital lease and debt payments	$	48,957		$	552,161		$	601,118

The interest rates on the capital leases range from approximately 4% to 10.4%.

Corporate and Other

HC2 and HC22

On November 20, 2014, HC2 issued $250.0 million in aggregate principal amount of 11.0% Senior Secured Notes due 2019 (the "November 2014 Notes"). The November 2014 Notes were issued at a price of 99.05% of principal amount, which resulted in a discount of $2.4 million. The net proceeds from the issuance of the November 2014 Notes were used to repay a senior secured credit facility, which had provided for a twelve-month, floating interest rate term loan of $214 million and a delayed draw term loan of $36 million, entered into in connection with the Company's acquisition of GMSL. On March 26, 2015, HC2 issued an additional $50.0 million in aggregate principal amount of 11.0% Senior Secured Notes due 2019 (the "March 2015 Notes"). The March 2015 Notes were issued at a price of 100.5% of principal amount, plus accrued interest from November 20, 2014, which resulted in a premium of $0.3 million. On August 5, 2015, HC2 issued an additional $5.0 million aggregate principal amount of its 11.0% Senior Secured Notes due 2019 (the "August 2015 Notes"). The August 2015 Notes were issued in consideration for a release of claims by holders of the Preferred Stock discussed below (see Note 18. Equity for additional information). On December 24, 2015, the Company issued an additional $2.0 million aggregate principal amount of its 11.0% Senior Secured Notes due 2019. All of the 11.0% Senior Secured Notes due 2019 (collectively, the "11.0% Notes") were issued under an indenture dated November 20, 2014, by and among HC2, the guarantors party thereto and U.S. Bank National Association, a national banking association ("U.S. Bank"), as trustee (the "11.0% Notes Indenture").

On December 16, 2016, HC2 Holdings 2, Inc. (‘‘HC2 2’’), a wholly-owned subsidiary, issued a $35.0 million aggregate principal 11.0% bridge note due December 1, 2019, under the same terms as the 11.0% Senior Secured Notes, to Jefferies LLC in a private placement. The 11.0% bridge note was guaranteed by HC2 and each of the other guarantors of the 11.0% Notes and ranked pari passu to, and was equally and ratably secured with HC2's existing 11.0% Notes.

In January 2017, the Company issued an additional $55.0 million in aggregate principal amount of its 11.0% Notes. HC2 used a portion of the proceeds from the issuance to repay all $35.0 million in outstanding aggregate principal amount of HC22's 11.0% bridge note.

In June 2017, the Company issued an additional $38.0 million of aggregate principal amount of its 11.0% Notes to investment funds affiliated with three institutional investors in a private placement offering.

Broadcasting

On November 9, 2017, Broadcasting entered into a $75.0 million bridge loan (the "Bridge Loan") pari pasu with the 11.0% Senior Secured Notes. The Bridge Loan is guaranteed by HC2 and each of the other guarantors of the 11.0% Notes and ranks pari passu to, and is equally and ratably secured with HC2's existing 11.0% Notes. The Bridge Loan was used to finance acquisitions in the broadcast television distribution market.

The Company entered into the Bridge Loan to provide short term funding to invest in certain broadcasting assets permitted pursuant to the terms of the Bridge Loan and for general corporate purposes, as provided therein. The Bridge Loan matures one year from the original issuance. Given the short term nature of the Bridge Loan, management’s, original and current, intent is to refinance the Bridge Loan prior to maturity. Although the Company believes that it will be able to raise additional equity capital, refinance indebtedness (including, without limitation, the Bridge Loan) or Preferred Stock, enter into other financing arrangements or engage in asset sales and sales of certain investments sufficient to fund any cash needs that we are not able to satisfy with the funds expected to be provided by our subsidiaries, there can be no assurance that it will be able to do so on terms satisfactory to the Company, or at all. Such financing options, if pursued, may also ultimately have the effect of negatively impacting our liquidity profile and prospects over the long-term. In addition, the sale of assets or the Company’s investments may also make the Company less attractive to potential investors or future financing partners.

Broadcasting borrowed $45.0 million of principal amount of the Bridge Loan on the same day at LIBOR plus applicable margin. On December 15, 2017, Broadcasting borrowed an additional $15.0 million of principal amount at LIBOR plus applicable margin.

On February 4, 2018, Broadcasting entered into a First Amendment to the Bridge Loan to extend the Agreement to add an additional $27.0 million in principal borrowing capacity to the existing credit agreement.

On February 6, 2018, Broadcasting borrowed $42.0 million in principal amount of the Bridge Loan at LIBOR plus applicable margin, the net proceeds of which were or will be used to finance certain acquisitions, to pay fees, costs and expenses relating to the Bridge Loan, and for general corporate purposes.

Senior Secured Notes Indenture

As of December 31, 2017 HC2 has issued an aggregate of $400.0 million of its 11.0% Notes, and Broadcasting issued an aggregate of $60.0 million LIBOR plus 7.50% notes, both pursuant to the indenture dated November 20, 2014, by and among HC2, the guarantors party thereto and U.S. Bank National Association, a national banking association, as trustee (the "11.0% Notes Indenture").

The 11.0% Notes Indenture contains certain covenants limiting, among other things, the ability of the Company and certain subsidiaries of the Company to incur additional indebtedness; create liens; engage in sale-leaseback transactions; pay dividends or make distributions in respect of capital stock and make certain restricted payments; sell assets; engage in transactions with affiliates; or consolidate or merge with, or sell substantially all of its assets to, another person. The 11.0% Notes Indenture also includes two maintenance covenants: (1) a liquidity covenant; and (2) a collateral coverage covenant. The 11.0% Notes Indenture contains customary events of default. The Company was in compliance with all covenants for the period.

Maturity and Interest. The 11.0% Notes mature on December 1, 2019. The 11.0% Notes accrue interest at a rate of 11.0% per year. Interest on the Senior Secured Notes are paid semi-annually on December 1st and June 1st of each year.

Ranking. The 11.0% Notes and the guarantees thereof are HC2’s and certain of its direct and indirect domestic subsidiaries’ (the "Subsidiary Guarantors") general senior secured obligations. The 11.0% Notes and the guarantees thereof rank: (i) senior in right of payment to all of HC2’s and the Subsidiary Guarantors’ future subordinated debt; (ii) equal in right of payment with all of HC2’s and the Subsidiary Guarantors’ existing and future senior debt and effectively senior to all of the Company's unsecured debt to the extent of the value of the collateral; and (iii) effectively subordinated to all liabilities of its non-guarantor subsidiaries.

Collateral. The 11.0% Notes and the guarantees thereof are collateralized on a first-priority basis by substantially all of HC2’s assets and the assets of the Subsidiary Guarantors (except for certain "Excluded Assets," and subject to certain "Permitted Liens," each as defined in the 11.0% Notes Indenture). The 11.0% Notes Indenture and the 11.0% Bridge Note permit the Company, under specified circumstances, to incur additional debt that could equally and ratably share in the collateral. The amount of such debt is limited by the covenants contained in the 11.0% Notes Indenture and the 11.0% Bridge Note.

Certain Covenants. The 11.0% Notes contain covenants limiting, among other things, the ability of HC2 and, in certain cases, HC2’s subsidiaries, to incur additional indebtedness or issue certain types of redeemable equity interests; create liens; engage in sale-leaseback transactions; pay dividends; make distributions in respect of capital stock and make certain other restricted payments; sell assets; engage in transactions with affiliates; or consolidate or merge with, or sell substantially all of its assets to, another person. These covenants are subject to a number of important exceptions and qualifications. HC2 is also required to maintain compliance with certain financial tests, including minimum liquidity and collateral coverage ratios. As of December 31, 2017, HC2 was in compliance with these covenants.

Redemption Premiums. Until November 30, 2018 may redeem the 11.0% Notes at a redemption price equal to 105.50% of the principal amount plus accrued and unpaid interest. Beginning December 1, 2018, HC2 may redeem the 11.0% Notes at a redemption price equal to 100% plus accrued and unpaid interest. HC2 is required to make an offer to purchase the 11.0% Notes upon a change of control at a purchase price equal to 101% of the principal amount of the 11.0% Notes on the date of purchase plus accrued and unpaid interest. The 11.0% Bridge Note may be redeemed at any time at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest.

Construction

DBMG Credit Facilities

DBMG has a Credit and Security Agreement ("DBMG Facility") with Wells Fargo Credit, Inc. ("Wells Fargo"). DBMG entered into the Third Amendment with Wells Fargo Credit, Inc. ("Wells Fargo") on November 6, 2017, which amends and restates the Second Amended and Restated Credit Agreement in its entirety. Pursuant to the agreement, Wells Fargo agreed to advance up to a maximum amount of $50.0 million to DBMG, including up to $14.5 million of letters of credit (the "Revolving Line"). The Revolving Line has a floating interest rate based on LIBOR plus 2.0%, requires monthly interest payments, and matures in April 2019.

The amended DBMG Facility allows for the issuance by DBMG of additional loans in the form of notes of up to $10.0 million ("Real Estate Term Advance"), at LIBOR plus 2.5% and the issuance of a note payable of up to $15.0 million, ("Real Estate Term Advance 2") at LIBOR plus 2.5%, each as separate tranches of debt under the DBMG Facility.

The DBMG Facility is secured by a first priority, perfected security interest in all of DBMG’s and its present and future subsidiaries' assets, excluding real estate, and a second priority, perfected security interest in all of DBMG’s real estate. The security agreements pursuant to which DBMG’s assets are pledged prohibit any further pledge of such assets without the written consent of the bank. The DBMG Facility contains various restrictive covenants. At December 31, 2017, DBMG was in compliance with these covenants.

As of December 31, 2017, DBMG had drawn $19.7 million under the Revolving Line and had $8.8 million in outstanding letters of credit issued under the DBMG Facility, of which zero has been drawn. At December 31, 2017 there was $2.7 million outstanding under the Real Estate Term Advance and $4.0 million borrowings outstanding under the Real Estate Term Advance 2.

Marine Services

GMSL Credit Facility

GMSL established a $20.0 million term loan with DVB Bank in January 2014 (the "GMSL Facility"). The GMSL Facility has a 4.5 year term and bears interest at the rate of USD LIBOR plus 3.65% rate. As of December 31, 2017 and 2016, zero and $3.0 million, respectively, remained outstanding under the GMSL Facility. The GMSL Facility contains various restrictive covenants. At December 31, 2017, GMSL was in compliance with these covenants.

Fugro Acquisition

As part of the Fugro trenching business acquisition, GMSL issued to Fugro a $7.5 million secured loan, which bears interest, payable quarterly, at 4% per annum through January 11, 2018, and at 10% per annum thereafter, and matures 363 days following the acquisition. One of the assets acquired, a Q1400 Trenching System, serves as collateral security for the repayment of the loan pursuant to the terms of a lien agreement.

CWind Credit Facilities

GMSL acquired CWind in February 2016 and assumed liability for all of CWind's outstanding loans. CWind currently maintains 14 notes payable related to its vessels, with maturities ranging between 2020 and 2024 and interest rates varying between 7.50% and 7.62%. The initial aggregate principle amount outstanding under all 14 notes was GBP 16.3 million.

CWind also has two revolving lines of credit, one based in the UK and one based in Germany with an aggregate capacity of GBP 1.5 million and an interest rate of 2.0% over Barclays' Base Rate of 0.5%.

In U.S. dollars, CWind had total borrowings of $16.2 million as of December 31, 2017.

GMSL Capital Leases

GMSL is a party to two leases to finance the use of two vessels: the Innovator (the "Innovator Lease") and the Cable Retriever (the "Cable Lease," and together with the Innovator Lease, the "GMSL Leases"). The Innovator Lease was restructured effective May 31, 2016, extending the lease to 2025. The principal amount thereunder bears interest at the rate of approximately 10.4%. The Cable Lease expires in 2023. The principal amount thereunder bears interest at the rate of approximately 4.0%.

As of December 31, 2017, $48.5 million in aggregate principal amount remained outstanding under the GMSL Leases.

Energy

M&T Term Loan

In May 2017, ANG entered into a term loan with M&T Bank for $12.0 million. The loan bears fixed interest annually at 5.04% and matures in 2022. During the third quarter 2017, ANG drew on the term loan for an additional $2.5 million at 4.85%. As of December 31, 2017, ANG had $13.7 million in aggregate principal outstanding under the loan.

Pioneer Term Loan

On June 13, 2016, ANG entered into a delayed draw term note for $6.5 million with Pioneer Savings Bank ("Pioneer"). The note included an interest only provision for the first year. The interest rate on this loan was LIBOR plus 3.0% for the first year and a fixed rate of 4.3% thereafter. The agreement with Pioneer also includes a revolving demand note for $1.0 million with an annual renewal provision and interest at monthly LIBOR plus 3.0%. On September 19, 2016 ANG entered into a term note for $2.5 million with Pioneer. The interest rate on this loan was 4.3%. On December 12, 2016 ANG entered into a term note for $4.5 million with Pioneer. The interest rate on this loan was 4.7%.

In January 2017, ANG refinanced and consolidated all three of its loans with Pioneer into a new term loan. The principal balance outstanding bears fixed interest at a fixed rate annually equal to 4.5% and matures in 2022. The agreement with Pioneer also includes a revolving demand note for $1.0 million with an annual renewal provision that bears interest at monthly LIBOR plus 3.0% (the "Pioneer Demand Note"). In September 2017, ANG increased the availability under the Pioneer Demand Note to $1.5 million. As of December 31, 2017, there was $12.5 million aggregate principal outstanding under the Pioneer term loan and $1.0 million drawn under the Pioneer Demand Note.

Signature Term Loan

ANG established a term loan with Signature Financial in October 2013. This term loan has a five year term and bears interest at the rate of 5.5% per annum. As of December 31, 2017, $0.3 million remained outstanding under this term loan.

Seller Note

On August 5, 2016, ANG entered into a six year seller note for $3.0 million with the seller of a station, maturing on February 1, 2022. The interest rate on this seller note is a fixed rate of 4.25%. Interest was pre-paid for the first month of the loan. As of December 31, 2017, $2.3 million remained outstanding under this seller note.

Covenants

As of December 31, 2017, ANG did not meet covenants for the debt service coverage ratio with Pioneer and the fixed charge coverage ratio with M&T Bank. ANG continues to pay applicable recurring principal and interest payments, and there has not been any default in the payment of principal or interest in either of the loans. As of March 14, 2018 waivers from both Pioneer and M&T were received, covering the period of this report. Management expects to be in compliance with both covenants in subsequent periods.

Life Sciences

R2 Notes

On December 7, 2017 R2 issued secured convertible notes for $1.25 million and other notes for $0.5 million to its licensors in satisfaction for amounts owed as part of a milestone payment, together with interest accruing on the unpaid principal balance at a rate of 11% per year. The $1.25 million principal balance matures on December 7, 2018 and the $0.5 million principal balance matures on or before June 1, 2018.

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

14. Income Taxes

The provisions (benefits) for income taxes for the years ended December 31, 2017, 2016 and 2015 are as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Current: Federal	$	17,426		$	20,937		$	361
State	3,183			2,103			1,215
Foreign	584			1,462			644
Subtotal Current	21,193			24,502			2,220
Deferred: Federal	(9,461		)	26,735			(12,604		)
State	175			444			(99		)
Foreign	(1,167		)	(43		)	(399		)
Subtotal Deferred	(10,453		)	27,136			(13,102		)
Income tax (benefit) expense	$	10,740		$	51,638		$	(10,882	)

The US and foreign components of income (loss) from continuing operations before income taxes for the years ended December 31, 2017, 2016 and 2015 are as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
US	$	(56,288	)	$	(71,626	)	$	(66,038	)
Foreign	16,537			25,833			19,415
Loss from continuing operations before income taxes	$	(39,751	)	$	(45,793	)	$	(46,623	)

The provision for (benefit from) income taxes differed from the amount computed by applying the federal statutory income tax rate to income (loss) before income taxes due to the following items for the years ended December 31, 2017, 2016 and 2015 (in thousands):



	Years Ended December 31,
	2017			2016			2015
Tax provision (benefit) at federal statutory rate	$	(13,914	)	$	(16,027	)	$	(16,318	)
Permanent differences	500			1,635			(272		)
State tax (net of federal benefit)	2,374			1,843			1,068
Foreign rate differential	(1,461		)	1,504			287
Foreign withholding taxes (net of federal)	—			—			1,229
Executive and stock compensation	565			1,439			1,044
Adjustment to net operating losses	(7,574		)	—			(1,104		)
Increase (decrease) in valuation allowance	6,263			57,830			2,949
Transaction costs	2,258			1,189			473
Tax credits generated/utilized	(155		)	(386		)	(185		)
Transition to U.S. Tax Cuts and Jobs Act	21,079			—			—
Outside basis difference	1,144			2,655			—
Other	(339		)	(44		)	(53		)
Income tax (benefit) expense	$	10,740		$	51,638		$	(10,882	)

On December 22, 2017, the U.S. enacted Public Law 115-97, known informally as the Tax Cuts and Jobs Act (the "TCJA"), making significant changes to the Internal Revenue Code. Changes include, but are not limited to, reducing the federal corporate tax rate from 35% to 21%, creating a new limitation on deductible interest expense, eliminating the corporate alternative minimum tax (AMT), 100% expensing for certain business assets, repealing the Sec. 199 deduction, changing the rules related to uses and limitation of NOLs for tax years beginning after December 31, 2017 and a one-time transition tax on the mandatory deemed repatriation of foreign earnings.

The write down adjustment of deferred tax assets due to the rate change and reversal of deferred tax liabilities associated with unremitted earnings had no impact to the income tax provision due to the Company’s valuation allowance position for the HC2 U.S. consolidated filing group and for the Insurance Company. Similarly, for the other entities not included in the HC2 U.S. consolidated filing group with a full valuation allowance, the write down adjustment of deferred tax assets due to the rate change had no impact to the income tax provision. There are certain non-consolidated entities in a net deferred tax liability position for which the re-measurement of deferred taxes resulted in a tax benefit being recorded. In connection with the one-time transition tax on the mandatory deemed repatriation of foreign earnings, the Company is utilizing existing NOL carryforwards to settle the toll charge so there is no income tax provision impact.

As a result of the enactment of TCJA on December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 ("SAB 118") to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the TCJA. SAB 118 provides that the measurement period is complete when a company’s accounting is complete, but should not extend beyond one year from the enactment date.

The Company has made a reasonable estimate of the impact to income taxes incurred. However, these estimates are incomplete because information has yet to be fully prepared or analyzed relating to the impact to our projections of future taxable income used in and analyzing realizability of the Insurance Company's deferred tax assets. There are specific insurance industry provisions, including changes in computations of life insurance reserves, amortization of policy acquisition expenses, and modifications to net operating loss ("NOLs") provisions. Provisional estimates have been included in our future taxable income projections for these insurance industry specific provisions to reflect application of the new tax law.

There are modifications to the determination of the tax basis of life insurance reserves and the change in the tax basis reserves as of January 1, 2018 will be spread over eight tax years (the "transition liability"). Although we have not completed our analysis of contract level reserve calculations, based upon the work completed, we have made a reasonable estimate of the transition liability and its impact on the deferred income tax balances. The estimate will be revised in the period that we have completed our analysis of the impact of the modifications on our life insurance reserves.

For the year ended December 31, 2016, the Company’s effective tax rate was unfavorably impacted by the establishment of valuation allowances totaling $57.8 million, primarily attributed to management’s conclusion that it was more-likely-than-not that the deferred tax assets of our HC2 U.S. consolidated group and the Insurance Company would not be realized.

Deferred income taxes reflect the net income tax effect of temporary differences between the basis of assets and liabilities for financial reporting purposes and for income tax purposes. Net deferred tax balances are comprised of the following as of December 31, 2017 and 2016 (in thousands):



	December 31,
	2017			2016
Deferred tax assets	$	210,250		$	257,231
Valuation allowance	(133,504		)	(138,044		)
Deferred tax liabilities	(85,825		)	(133,383		)
Net deferred taxes	$	(9,079	)	$	(14,196	)



	December 31,
	2017			2016
Allowance for bad debt	$	223		$	151
Basis difference in intangibles	(11,623		)	(11,924		)
Equity investments	5,650			6,877
Net operating loss carryforwards	49,018			43,080
Basis difference in fixed assets	(2,851		)	(8,616		)
Deferred compensation	14,046			11,375
Foreign tax credit	1,190			1,190
Capital loss carryforwards	2,194			1,381
Insurance company investments	(59,307		)	(86,811		)
Foreign earnings	—			(11,748		)
UK trading loss carryforward	49,690			50,151
Unrealized gain/loss in OCI	102			3,930
Insurance claims and reserves	57,030			95,883
Value of insurance business acquired ("VOBA")	9,071			16,712
Start-up cost	1,240			1,778
Deferred Acquisition Costs	5,739			5,248
Other	3,013			5,191
Valuation allowance	(133,504		)	(138,044		)
Total deferred taxes	$	(9,079	)	$	(14,196	)

Deferred tax assets refer to assets that are attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets in essence represent future savings of taxes that would otherwise be paid in cash. The realization of the deferred tax assets is dependent upon the generation of sufficient future taxable income, including capital gains. If it is determined that the deferred tax assets cannot be realized, a valuation allowance must be established, with a corresponding charge to net income.

In accordance with ASC 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 or loss and other positive and negative evidence by individual tax jurisdiction. Changes in industry and economic conditions and the competitive environment may impact these projections. In accordance with ASC 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.

Management evaluated the need to maintain the valuation allowance against the deferred taxes of the HC2 Holdings, Inc. U.S. consolidated tax group ("the group") for each of the reporting periods based on the positive and negative evidence available. The objective negative evidence evaluated was the group’s historical operating results over the prior three-year period. The group is in a cumulative three year loss as of December 31, 2017 and is forecasting losses in the near future, which provide negative evidence that is difficult to overcome and would require a substantial amount of objectively verifiable positive evidence of future income to support the realizability of the group’s deferred tax assets. While positive evidence exists by way of unrealized gains in the Company’s investments, management concluded that the negative evidence now outweighs the positive evidence. Thus, it is more likely than not that the group’s U.S. deferred tax assets will not be realized.

Management evaluated the need to maintain the valuation allowance against the deferred taxes of the Insurance Company for each of the reporting periods. Included in this assessment was the Insurance Company’s historical operating results over the prior three-year period. Additional positive and negative evidence was considered including the timing of the reversal of the deferred tax assets and liabilities, and projections of future income from the runoff of the insurance business. During 2017, the Insurance Company moved from a cumulative loss position over the previous three years to a cumulative income position for the first time since the Insurance Company established a full valuation allowance. Based on the weight of the positive and negative evidence, Management concluded that it is more likely than not that the Insurance Company’s net deferred tax assets will not be realized. Management continues to evaluate the Insurance Company’s cumulative income position and income trend as well as future projections of sustained profitability and whether this profitability trend constitutes sufficient positive evidence to support a reversal of our valuation allowance (in full or in part).

Valuation allowances have been maintained against deferred tax assets of the European entities, including GMSL’s UK non-tonnage tax trading losses, and losses generated by certain businesses that do not qualify to be included in the HC2 Holdings, Inc. U.S. consolidated income tax return.

On December 24, 2015, the Company completed its acquisition of the long-term care and life insurance businesses, United Teacher Associates Insurance Company ("UTA") and CGI, pursuant to an agreement ("Stock Purchase Agreement") with subsidiaries of American Financial Group, Inc. ("AFG"). The Company made a joint election with AFG under Section 338(h)(10) to treat the stock purchase as an asset purchase for U.S. Federal income tax purposes. The Company's resulting step-down in the tax basis of the invested assets of UTA and CGI (primarily fixed income securities) is reflected in the above deferred tax liability of $99.6 million for differences between the fair value and tax basis of the insurance company investments. The Company estimates that none of the goodwill that was recorded will be deductible for income tax purposes.

As of December 31, 2017, the Company had foreign operating loss carryforwards of approximately $295.1 million. Of the foreign NOLs, $221.2 million were generated by GMSL’s historical non-tonnage tax operations.

At December 31, 2017, the Company has U.S. net operating loss carryforwards available to reduce future taxable income in the amount of $100.4 million, of which $77.8 million is subject to an annual limitation under Section 382 of the Internal Revenue Code. Additionally, the Company has $108.3 million of U.S. net operating loss carryforwards from its subsidiaries that do not qualify to be included in the HC2 U.S. consolidated income tax return.

Pursuant to the rules under Section 382, the Company believes that it underwent an ownership change on May 29, 2014. This conclusion is based on an analysis of Schedule 13D and Schedule 13G filings over the prior three years made with the SEC and the impact resulting from the May 29 preferred stock issuance. Due to the Section 382 limit resulting from the ownership change, approximately $146.2 million of the Company’s net operating losses will expire unused. The $146.2 million in expiring NOLs have been derecognized in the consolidated financial statements as of December 31, 2014. The remaining pre-change NOL’s of $46.1 million recorded in the consolidated financial statements are subject to an annual limitation under IRC Sec. 382 of approximately $2.3 million.

On November 4, 2015, HC2 issued 8,452,500 shares of its stock in a primary offering which the Company believes resulted in a Section 382 ownership change resulting in an additional annual limitation to the cumulative NOL carryforward of the HC2 U.S. consolidated tax group. The amount of the annual limitation is based on a number of factors, including the value of HC2’s stock and the amount of unrealized gains on the date of the ownership change.

The Company follows the provision of ASC 740 which prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return. The Company is subject to challenge from various taxing authorities relative to certain tax planning strategies, including certain intercompany transactions as well as regulatory taxes.

The Company did not have any unrecognized tax benefits as of December 31, 2017, 2016 and 2015, related to uncertain tax positions.

The Company conducts business globally, and as a result, HC2 or one or more of its subsidiaries files income tax returns in the United States federal jurisdiction and various state and foreign jurisdictions. In the normal course of business the Company is subject to examination by taxing authorities throughout the world. Tax years 2002-2017 remain open for examination.

The Company is currently under examination in various domestic and foreign tax jurisdictions. The open tax years contain matters that could be subject to differing interpretations of applicable tax laws and regulations as they relate to the amount, character, timing or inclusion of revenue and expenses or the applicability of income tax credits for the relevant tax period. Given the nature of tax audits, there is a risk that disputes may arise.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

15. Commitments and Contingencies

Future minimum lease payments under purchase obligations and non-cancellable operating leases are as follows (in thousands):



	Purchase Obligations		Operating Leases
2018	$	124,418	$	16,679
2019	1,323		16,222
2020	1,103		14,304
2021	27		11,417
2022	27		5,365
Thereafter	46		12,549
Total obligations	$	126,944	$	76,536

The Company has contractual obligations to utilize an external vendor for certain customer support functions and to utilize network facilities from certain carriers with terms greater than one year.

The Company’s expense under operating leases was $11.6 million, $5.3 million and $5.0 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Litigation

The Company is subject to claims and legal proceedings that arise in the ordinary course of business. Such matters are inherently uncertain, and there can be no guarantee that the outcome of any such matter will be decided favorably to the Company or that the resolution of any such matter will not have a material adverse effect upon the Company’s Consolidated Financial Statements. The Company does not believe that any of such pending claims and legal proceedings will have a material adverse effect on its Consolidated Financial Statements. The Company records a liability in its Consolidated Financial Statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in a liability and the amounts of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss to the extent necessary for its Consolidated Financial Statements not to be misleading. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in its Consolidated Financial Statements.

CGI Producer Litigation

On November 28, 2016, CGI, a subsidiary of the Company, Great American Financial Resource, Inc. ("GAFRI"), American Financial Group, Inc., and CIGNA Corporation were served with a putative class action complaint filed by John Fastrich and Universal Investment Services, Inc. in The United States District Court for the District of Nebraska alleging breach of contract, tortious interference with contract and unjust enrichment. The plaintiffs contend that they were agents of record under various CGI policies and that CGI allegedly instructed policyholders to switch to other CGI products and caused the plaintiffs to lose commissions, renewals, and overrides on policies that were replaced. The complaint also alleges breach of contract claims relating to allegedly unpaid commissions related to premium rate increases implemented on certain long-term care insurance policies. Finally, the complaint alleges breach of contract claims related to vesting of commissions. On August 21, 2017 the Court dismissed the plaintiffs’ tortious interference with contract claim. CGI believes that the remaining allegations and claims set forth in the complaint are without merit and intends to vigorously defend against them.

The case has been set for voluntary mediation, which occurred on January 26, 2018. Meanwhile, the Court has stayed discovery pending the outcome of the mediation. On February 12, 2018, the parties notified the Court that mediation did not resolve the case and that the parties’ discussions regarding a possible settlement of the action were still ongoing. The Court ordered the parties to submit a status report regarding the status of their settlement negotiations to the Court in advance of the upcoming status conference scheduled on March 22, 2018.

Further, the Company and CGI are seeking defense costs and indemnification for plaintiffs’ claims from GAFRI and Continental General Corporation ("CGC") under the terms of an Amended and Restated Stock Purchase Agreement ("SPA") related to the Company’s acquisition of CGI in December 2015. GAFRI and CGC rejected CGI’s demand for defense and indemnification and, on January 18, 2017, the Company and CGI filed a Complaint against GAFRI and CGC in the Superior Court of Delaware seeking a declaratory judgment to enforce their indemnification rights under the SPA. On February 23, 2017, Great American answered CGI’s complaint, denying the allegations. The dispute is ongoing and CGI will continue to pursue its right to a defense and indemnity under the SPA.

VAT assessment

On February 20, 2017, and on August 15, 2017, the Company's subsidiary, ICS, received notices from Her Majesty’s Revenue and Customs office in the U.K. (the "HMRC") indicating that it was required to pay certain Value-Added Taxes ("VAT") for the 2015 and 2016 tax years. ICS disagrees with HMRC’s assessments on technical and factual grounds and intends to dispute the assessed liabilities and vigorously defend its interests. We do not believe the assessment to be probable and expect to prevail based on the facts and merits of our existing VAT position.

DBMG Class Action

On November 6, 2014, a putative stockholder class action complaint challenging the tender offer by which HC2 acquired approximately 721,000 of the issued and outstanding common shares of DBMG was filed in the Court of Chancery of the State of Delaware, captioned Mark Jacobs v. Philip A. Falcone, Keith M. Hladek, Paul Voigt, Michael R. Hill, Rustin Roach, D. Ronald Yagoda, Phillip O. Elbert, HC2 Holdings, Inc., and Schuff International, Inc., Civil Action No. 10323 (the "Complaint"). On November 17, 2014, a second lawsuit was filed in the Court of Chancery of the State of Delaware, captioned Arlen Diercks v. Schuff International, Inc. Philip A. Falcone, Keith M. Hladek, Paul Voigt, Michael R. Hill, Rustin Roach, D. Ronald Yagoda, Phillip O. Elbert, HC2 Holdings, Inc., Civil Action No. 10359. On February 19, 2015, the court consolidated the actions (now designated as Schuff International, Inc. Stockholders Litigation) and appointed lead plaintiff and counsel. The currently operative complaint is the Complaint filed by Mark Jacobs. The Complaint alleges, among other things, that in connection with the tender offer, the individual members of the DBMG Board of Directors and HC2, the now-controlling stockholder of DBMG, breached their fiduciary duties to members of the plaintiff class. The Complaint also purports to challenge a potential short-form merger based upon plaintiff’s expectation that the Company would cash out the remaining public stockholders of DBMG following the completion of the tender offer. The Complaint seeks rescission of the tender offer and/or compensatory damages, as well as attorney’s fees and other relief. The defendants filed answers to the Complaint on July 30, 2015.

On February 24, 2017, the parties agreed to a framework for the potential settlement of the litigation. Plaintiff advised defendants on June 7, 2017 that plaintiff was not proceeding with the February 2017 potential settlement framework. The parties have been exploring alternative frameworks for a potential settlement. There can be no assurance that a settlement will be finalized or that the Court would approve such a settlement even if the parties were to enter into a settlement stipulation or agreement. If a settlement cannot be reached, the Company believes it has meritorious defenses and intends to vigorously defend this matter.

Global Marine Dispute

GMSL is in dispute with Alcatel-Lucent Submarine Networks Limited ("ASN") related to a Marine Installation Contract between the parties, dated March 11, 2016 (the "ASN Contract"). Under the ASN Contract, GMSL's obligations were to install and bury an optical fiber cable in Prudhoe Bay, Alaska. As of the date hereof, neither party has commenced legal proceedings. Pursuant to the ASN Contract any such dispute would be governed by English law and would be required to be brought in the English courts in London. ASN has alleged that GMSL committed material breaches of the ASN Contract, which entitles ASN to terminate the ASN Contract, take over the work themselves, and claim damages for their losses arising as a result of the breaches. The alleged material breaches include failure to use appropriate equipment and procedures to perform the work and failure to accurately estimate the amount of weather downtime needed. ASN has indicated to GMSL it has incurred $30 million in damages and $1.2 million in liquidated damages for the period from September 2016 to October 2016, plus interest and costs. GMSL believes that it has not breached the terms and conditions of the contract and also believes that ASN has not properly terminated the contract in a manner that would allow it to make a claim. However, ASN has ceased making payments to GMSL and as of December 31, 2017, the total sum of GMSL invoices raised and issued are $17.0 million, of which $8.1 million were settled by ASN and the balance of $8.9 million remains at risk. We believe that the allegations and claims by ASN are without merit, and that ASN is required to make all payments under unpaid invoices and we intend to defend our interests vigorously.

Tax Matters

Currently, the Canada Revenue Agency ("CRA") is auditing a subsidiary previously held by the Company. The Company intends to cooperate in audit matters. To date, CRA has not proposed any specific adjustments and the audit is ongoing.

Employee Retirement Plans

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Employee Retirement Plans

16. Employee Retirement Plans

HC2

The Company sponsors a 401(k) employee benefit plan (the "401(k) Plan") that covers substantially all United States based employees. Employees may contribute amounts to the 401(k) Plan not to exceed statutory limitations. The 401(k) Plan provides an employer matching contribution in cash of 50% of the first 6% of employee annual salary contributions capped at $6,000.

The matching contribution made during each of the years ended December 31, 2017, 2016 and 2015 was $0.1 million.

DBMG

Certain of DBMG’s fabrication and erection workforce are subject to collective bargaining agreements. DBMG contributes to union-sponsored, multi-employer pension plans. Contributions are made in accordance with negotiated labor contracts. The passage of the Multi-Employer Pension Plan Amendments Act of 1980 (the "Act") may, under certain circumstances, cause DBMG to become subject to liabilities in excess of contributions made under collective bargaining agreements. Generally, liabilities are contingent upon the termination, withdrawal, or partial withdrawal from the plans. Under the Act, liabilities would be based upon DBMG’s proportionate share of each plan’s unfunded vested benefits.

DBMG made contributions to the California Ironworkers Field Pension Trust ("Field Pension") of $7.0 million and $6.9 million during the years ended December 31, 2017 and 2016, respectively. DBMG’s funding policy is to make monthly contributions to the plan. DBMG’s employees represent less than 5% of the participants in the Field Pension. As of December 31, 2017, DBMG has not undertaken to terminate, withdraw, or partially withdraw from the Field Pension.

To replace DBMG's funding into the Steelworkers Pension Trust, DBMG agreed to make profit share contributions to the Union 401(k) defined contribution retirement savings plan (the "Union 401k") beginning on April 1, 2012. Union steelworkers are eligible for the profit share contributions after completing a probationary period (640 hours of work) and are 100% vested in the profit share contributions three years from the date of hire. Union steelworkers are not required to make contributions to the Union 401(k) to receive the profit share contributions. Profit share contributions are made for each hour worked by each eligible union steelworker at a rate of $0.55 per hour. Profit share contributions amounted to approximately $0.1 million and $0.1 million for the years ended December 31, 2017 and 2016, respectively.

DBMG maintains a 401(k) retirement savings plan which covers eligible employees and permits participants to contribute to the plan, subject to Internal Revenue Code restrictions and which features matching contributions of 100% of the first 1%, and 50% of the next 5% of employee annual salary contributions. The matching contributions for the years ended December 31, 2017 and 2016 was $1.4 million and $1.1 million, respectively.

GMSL

GMSL has established a number of pension schemes and contribute to other pension schemes around the world covering many of its employees. The principal funds are those in the UK comprising The Global Marine Systems Pension Plan, The Global Marine Personal Pension Plan (established in 2008), and Global Marine Systems (Guernsey) Pension Plan. A small number of employees are members of the MNOPF, a centralized defined benefit scheme to which the GMSL contributes.

The Global Marine Systems Pension Plan, the Global Marine Systems (Guernsey) Pension Plan and the MNOPF are defined benefit plans with assets held in separate trustee administered funds. However as the Global Marine Systems (Guernsey) Pension Plan, which operates both a Career Average Re-valued Earnings ("CARE") defined benefit section and a defined contribution section is small with few members, the scheme is accounted for as defined contribution type plan. The Global Marine Personal Pension Plan is predominantly of the money purchase type.

The Global Marine Systems Pension Plan was a hybrid, exempt approved, occupational pension scheme for the majority of staff, which provides pension and death in service benefits. The defined benefit section of the Plan provided final salary benefits up to December 31, 2003 and CARE benefits from January 1, 2004. In 2008 the defined contribution section was closed to new contributions and all the accumulated funds attributable to the defined contribution members were transferred to a Contracted in Money Purchase Scheme ("CIMP") set up by GMSL. These funds were held on behalf of the defined contribution members and were all transferred to the Global Marine Personal Pension plan of each member on or before June 30, 2009. From August 31, 2006 the defined benefit section of the Scheme closed to future accrual and active members were offered membership of the existing defined contribution section (with some enhanced benefits).

Global Marine Systems Pension Plan - Defined Benefit Section

The defined benefit section of the Global Marine Systems Plan (prior to its closure on August 31, 2006) was contributory, with employees contributing between 5% and 8% (depending on their age) and the employer contributing at a rate of 9.2% of pensionable salary plus deficit contributions of $1.4 million per year.

The defined benefit section of the Global Marine Systems Pension Plan is funded by the payment of contributions determined with the advice of qualified independent actuaries on the basis of triennial valuations using the projected unit method. The most recent full actuarial valuation was conducted as of December 31, 2013 for the purpose of determining the funding requirements of the plan. The main assumptions used were that Retail Price Inflation would be 3.7% per year, Consumer Price Inflation would be 2.7% per year, the rate of return on investments (pre-retirement) would be would be 5.5% per year, the rate of return on investments (post-retirement) would be 4.5% per year, with pensions increasing by 3% per year. At the actuarial valuation date the market value of the defined benefit section’s assets amounted to $146.7 million. On a statutory funding objective basis the value of these assets covered the value of technical provisions by 74%.

As per the agreement reached in August 2016 between the Trustees and the Company it was agreed that contributions are payable by the Group as follows:


•	$0.4 million payable every month during calendar year 2018


•	$0.6 million payable every month during calendar years 2019 to May 2021 inclusive;


•	Profit-related component. The Company will pay 10% of profits after tax before dividends. This will be paid up to two years following the year end to enable budgeting and cash flow control


•	Dividend-related component. The Company will pay a cash sum equal to 50% of any future dividend payments.

Global Marine Personal Pension Plan

This is a defined contribution pension scheme and is contributory from the employee; the rate of contributions is split as follows:


•	ex-CARE employees contributing between 2.5% and 7.5% and the employer contributing at a matching rate plus an additional 5% fixed contributions; and


•	defined contribution employees contributing between 2% and 7.5% and the employer contributing at a matching rate.

For the years ended December 31, 2017 and 2016, GMSL made matching contributions of $3.0 million and $1.4 million, respectively.

MNOPF

The MNOPF is funded by the payment of contributions determined with the advice of qualified independent actuaries on the basis of triennial valuations using the projected unit method. The most recent available full actuarial valuation was conducted as at March 31, 2015 for the purpose of determining the funding requirements of the plan. The main assumptions used were that Retail Price Inflation would be 3.1% per year, Consumer Price Inflation would be 2.1% per year, the rate of return on investments (pre-retirement) would be 4.75% per year, the rate of return on investments (post-retirement) would be 2.6% per year and with pensions increasing (where relevant) by 2.9% per year.

At the actuarial valuation date the market value of the total assets in the scheme amounted to $3.6 billion of which 0.08% ($2.8 million) relates to the Global Marine Systems Group. On an on-going basis the value of these assets, together with the deficit contributions receivable of $394 million, covered the value of pensioner liabilities, preserved pension liabilities for former employees and the value of benefits for active members based on accrued service and projected salaries, to the extent of 99.7%.

Following the March 31, 2015 actuarial valuation, contributions are payable by the Group as follows:


•	Maintain employer contributions to 20% of pensionable salaries to September 30, 2016, and then no more contributions thereafter.

Global Marine Systems (Guernsey) Pension Plan

The defined benefit section of the Guernsey Scheme is contributory, with employees contributing between 5% and 8% (depending on their age), the employer ceased contributing after July 2004. The defined contribution section is also contributory, with employees contributing between 2% and 7.5% (depending on their age and individual choice) and the employer contributing at a matching rate. The defined benefit section of the Guernsey Scheme is funded by the payment of contributions determined with the advice of qualified independent actuaries on the basis of triennial valuations using the projected unit method.

The most recent full actuarial valuation was conducted as of December 31, 2013 for the purpose of determining the funding requirements of the plan. The principal actuarial assumptions used by the actuary were investment returns of 5.3% per year pre-retirement, 4.4% per year post-retirement, inflation of 3.7% per year and pension increases of 3.3% per year.

At the valuation date the market value of the assets amounted to $3.0 million. The results show a past service shortfall of $0.2 million corresponding to a funding ratio of 93%.

Following the December 31, 2013 actuarial valuation, contributions are as follows:


•	Seven annual contributions of less than $0.1 million from December 31, 2014 to 2020.

Collectively hereafter, the defined benefit plans will be referred to as the "Plans".

Obligations and Funded Status

For all company sponsored defined benefit plans and our portion of the MNOPF, the benefit obligation is the "projected benefit obligation," the actuarial present value, as of our December 31 measurement date, of all benefits attributed by the pension benefit formula to employee service rendered to that date. The amount of benefit to be paid depends on a number of future events incorporated into the pension benefit formula, including estimates of the average life of employees/survivors and average years of service rendered. It is measured based on assumptions concerning future interest rates and future employee compensation levels.

The following table presents this reconciliation and shows the change in the projected benefit obligation for the Plans for the period from December 31, 2015 through December 31, 2017 (in thousands):



Projected benefit obligation at December 31, 2015	$	197,600
Service cost - benefits earning during the period	15
Interest cost on projected benefit obligation	6,659
Contributions	8
Actuarial loss	30,121
Benefits paid	(5,564		)
Foreign currency (gain) loss	(36,240		)
Projected benefit obligation at December 31, 2016	192,599
Service cost - benefits earning during the period	—
Interest cost on projected benefit obligation	5,670
Contributions	—
Actuarial loss	2,704
Benefits paid	(9,949		)
Foreign currency (gain) loss	17,636
Projected benefit obligation at December 31, 2017	$	208,660

The following table presents the change in the value of the assets of the Plans for the period from December 31, 2015 through December 31, 2017 and the plans’ funded status at December 31, 2017 (in thousands):



Fair value of plan assets at December 31, 2015	$	172,511
Actual return on plan assets	34,354
Benefits paid	(5,564		)
Contributions	1,376
Foreign currency gain (loss)	(31,905		)
Fair value of plan assets at December 31, 2016	170,772
Actual return on plan assets	10,392
Benefits paid	(9,949		)
Contributions	3,056
Foreign currency gain (loss)	15,847
Fair value of plan assets at December 31, 2017	190,118
Unfunded status at end of year	$	18,542

Amounts recognized in the consolidated balance sheets within Other assets and Other liabilities at December 31, 2017 and 2016 are listed below (in thousands):



	December 31,
	2017		2016
Pension Asset	$	28	$	192
Pension Liability	18,570		22,019
Net amount recognized	$	18,542	$	21,827

The accumulated benefit obligation for the Plans represents the actuarial present value of benefits based on employee service and compensation as of a certain date and does not include an assumption about future compensation levels. As of December 31, 2017 contributions of $12.6 million were due to be payable to the Plans.

Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income

Periodic Benefit Costs

The aggregate net pension cost recognized in the consolidated statements of operations was a benefit of $2.1 million for the year ended December 31, 2017, and cost of $2.2 million and $0.4 million for the years ended December 31, 2016 and 2015, respectively.

The following table presents the components of net periodic benefit cost are as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Service cost - benefits earning during the period	$	—		$	15		$	61
Interest cost on projected benefit obligation	5,670			6,659			7,330
Expected return on assets	(7,763		)	(7,063		)	(7,507		)
Actuarial loss	75			2,830			512
Foreign currency loss	(87		)	(225		)	(12		)
Net pension (benefit) cost	$	(2,105	)	$	2,216		$	384

Of the amounts presented above, income of $2.1 million has been included in cost of revenue and gain of $0.1 million included in other comprehensive income for the year ended December 31, 2017, and cost of $0.4 million has been included in cost of revenue and gain of $2.6 million included in other comprehensive income for the year ended December 31, 2016.

In determining the net periodic pension cost for the Plans, GMSL used the following weighted average assumptions: the pension increase assumption is that for benefits increasing with RPI limited to 5% per year, to which the majority of the Plan’s liabilities relate. The Group employs a building block approach in determining the long-term rate of return of pension plan assets. Historical markets are studied and assets with higher volatility are assumed to generate higher returns consistent with widely accepted capital market principles. The overall expected rate of return on assets is then derived by aggregating the expected return for each asset class over the actual asset allocation for the Plans as of December 31, 2017.



	Years Ended December 31,
	2017		2016		2015
Discount rate	2.60	%	2.85	%	3.75	%
Rate of compensation increases (MNOPF only)	NA		N/A		4.55	%
Rate of future RPI inflation	3.15	%	3.20	%	3.05	%
Rate of future CPI inflation	2.05	%	2.10	%	1.95	%
Pension increases in payment	3.00	%	3.05	%	2.90	%
Long-term rate of return on assets	4.01	%	3.17	%	4.50	%

Other Changes in Benefit Obligations Recognized in Other Comprehensive Income

The following tables present the after-tax changes in benefit obligations recognized in comprehensive income and the after-tax prior service credits that were amortized from AOCI into net periodic costs are as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Net loss (gain)	$	2,320	$	2,216	$	—
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	2,320	$	2,216	$	384



	Years Ended December 31,
	2017		2016
Actuarial (gain) loss	$	75	$	2,830
Total recognized in other comprehensive (income) loss	$	75	$	2,830

There is zero estimated loss for pension benefits to be amortized from AOCI into net periodic benefit cost in fiscal year 2018.

Estimated Future Benefit Payments

Expected benefit payments are estimated using the same assumptions used in determining the Plan’s benefit obligation at December 31, 2017. Because benefit payments will depend on future employment and compensation levels, average years employed, average life spans, and payment elections, among other factors, changes in any of these factors could significantly affect these expected amounts. The following table provides expected benefit payments under our pension and post-retirement plans (in thousands):



	Expected Benefit Payments
2018	$	6,175
2019	6,344
2020	6,519
2021	6,698
2022	6,882
Thereafter	37,351
Total	$	69,969

Aggregate expected contributions in the coming fiscal year are expected to be $3.8 million.

Plan Assets - Description of plan assets and investment objectives

The assets of the Plans consist primarily of private and public equity, government and corporate bonds, among others. The asset allocations of the Plans are maintained to meet regulatory requirements where applicable. Any contributions to the Plans are made to a pension trust for the benefit of plan participants.

The principal investment objectives are to ensure the availability of funds to pay pension benefits as they become due under a broad range of future economic scenarios, to maximize long-term investment return with an acceptable level of risk based on our pension and post-retirement obligations, and to be broadly diversified across and within the capital markets to insulate asset values against adverse experience in any one market. Each asset class has broadly diversified characteristics. Substantial biases toward any particular investing style or type of security are sought to be avoided by managing the aggregation of all accounts with portfolio benchmarks. Asset and benefit obligation forecasting studies are conducted periodically, generally every two to three years, or when significant changes have occurred in market conditions, benefits, participant demographics or funded status. Decisions regarding investment policy are made with an understanding of the effect of asset allocation on funded status, future contributions and projected expenses.

The plans’ weighted-average asset targets and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories at December 31, 2017, are as follows:



	Target		December 31, 2017
Liability hedging	36.1	%	51.2	%
Equities	20.5	%	16.6	%
Hedge funds	24.5	%	23.8	%
Corporate bonds	13.9	%	7.5	%
Property	5.0	%	0.9	%
Total	100.0	%	100.0	%

Investment Valuation

GMSL’s plan investments related to the Global Marine Systems Pension Plan consist of the following (in thousands):



	December 31,
	2017			2016
Equities	$	38,568		$	47,623
Liability Hedging Assets	66,723			40,635
Hedge Funds	46,405			47,068
Corporate Bonds	25,736			24,492
Property	8,798			7,544
Other	623			205
Total market value of assets	186,853			167,567
Present value of liabilities	(205,423		)	(189,586		)
Net pension liability	$	(18,570	)	$	(22,019	)

GMSL’s plan investments related to the MNOPF consist of the following (in thousands):



	December 31,
	2017			2016
Equities	$	294		$	526
Liability Hedging Assets	1,861			1,641
Hedge Funds	457			519
Corporate Bonds	507			519
Property	146			—
Total market value of assets	3,265			3,205
Present value of liabilities	(3,237		)	(3,013		)
Net pension asset (liability)	$	28		$	192

Investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Generally, investments are valued based on information provided by fund managers to our trustee as reviewed by management and its investment advisers.

Investments in securities traded on a national securities exchange are valued at the last reported sales price on the last business day of the year. If no sale was reported on that date, they are valued at the last reported bid price. Investments in securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Over-the-counter (OTC) securities and government obligations are valued at the bid price or the average of the bid and asked price on the last business day of the year from published sources where available and, if not available, from other sources considered reliable. Depending on the types and contractual terms of OTC derivatives, fair value is measured using a series of techniques, such as Black-Scholes option pricing model, simulation models or a combination of various models.

Alternative investments, including investments in private equities, private bonds, limited partnerships, hedge funds, real assets and natural resources, do not have readily available market values. These estimated fair values may differ significantly from the values that would have been used had a ready market for these investments existed, and such differences could be material. Private equity, private bonds, limited partnership interests, hedge funds and other investments not having an established market are valued at net asset values as determined by the investment managers, which management has determined approximates fair value. Private equity investments are often valued initially based upon cost; however, valuations are reviewed utilizing available market data to determine if the carrying value of these investments should be adjusted. Such market data primarily includes observations of the trading multiples of public companies considered comparable to the private companies being valued. Investments in real assets funds are stated at the aggregate net asset value of the units of these funds, which management has determined approximates fair value. Real assets and natural resource investments are valued either at amounts based upon appraisal reports prepared by appraisers or at amounts as determined by an internal appraisal performed by the investment manager, which management has determined approximates fair value.

Purchases and sales of securities are recorded as of the trade date. Realized gains and losses on sales of securities are determined on the basis of average cost. Interest income is recognized on the accrual basis. Dividend income is recognized on the ex-dividend date.

The following table sets forth by level, within the fair value hierarchy, the pension assets and liabilities at fair value for the Global Marine Systems Pension Plan (in thousands):



As of December 31, 2017	Fair Value Measurement Using:
	Level 1		Level 2		Total
Equities	$	—	$	38,568	$	38,568
Liability Hedging Assets	—		66,723		66,723
Hedge Funds	—		46,405		46,405
Corporate Bonds	—		25,736		25,736
Property	—		8,798		8,798
Other	243		380		623
Total Plan Net Assets	$	243	$	186,610	$	186,853



As of December 31, 2016	Fair Value Measurement Using:
	Level 1			Level 2		Total
Equities	$	—		$	47,623	$	47,623
Liability Hedging Assets	—			40,635		40,635
Hedge Funds	—			47,068		47,068
Corporate Bonds	—			24,492		24,492
Property	—			7,544		7,544
Other	(37		)	242		205
Total Plan Net Assets	$	(37	)	$	167,604	$	167,567

The following table sets forth by level, within the fair value hierarchy, the pension assets and liabilities at fair value for the MNOPF (in thousands):



As of December 31, 2017	Fair Value Measurement Using:
	Level 3		Total
Equities	$	294	$	294
Hedge Funds	457		457
Corporate Bonds	507		507
Liability Hedging Assets	1,861		1,861
Property	146		146
Total Plan Net Assets	$	3,265	$	3,265



As of December 31, 2016	Fair Value Measurement Using:
	Level 3		Total
Equities	$	525	$	525
Hedge Funds	519		519
Corporate Bonds	519		519
Liability Hedging Assets	1,641		1,641
Total Plan Net Assets	$	3,204	$	3,204

The table below set forth a summary of changes in the fair value of the Level 3 pension assets for the period from December 31, 2015 through December 31, 2017 for the MNOPF (in thousands):



Balance at December 31, 2015	$	2,937
Actual return on plan assets	972
Contributions	20
Benefits paid	(150		)
Foreign currency gain (loss)	(575		)
Balance at December 31, 2016	3,204
Actual return on plan assets	(68		)
Contributions	—
Benefits paid	(157		)
Foreign currency gain (loss)	286
Balance at December 31, 2017	$	3,265

Share-based Compensation

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation

17. Share-based Compensation

On April 11, 2014, HC2’s Board of Directors adopted the HC2 Holdings, Inc. Omnibus Equity Award Plan (the "2014 Plan"), which was originally approved at the annual meeting of stockholders held on June 12, 2014. On April 21, 2017, the Board of Directors, subject to stockholder approval, adopted the Amended and Restated 2014 Omnibus Equity Award Plan (the "Restated 2014 Plan"). The Restated 2014 Plan was approved by HC2's stockholders at the annual meeting of stockholders held on June 14, 2017. Subject to adjustment as provided in the Restated 2014 Plan, the Restated 2014 Plan authorizes the issuance of 3,500,000 shares of common stock of HC2, plus any shares that again become available for awards under the 2014 Plan, plus any shares that again become available for awards under the Restated 2014 Plan.

The Restated 2014 Plan provides that no further awards will be granted pursuant to the 2014 Plan. However, awards previously granted under the 2014 Plan will continue to be subject to and governed by the terms of the 2014 Plan. The Compensation Committee of HC2's Board of Directors administers the 2014 Plan and the Restated 2014 Plan and has broad authority to administer, construe and interpret the plans.

The Restated 2014 Plan provides for the grant of awards of non-qualified stock options, incentive (qualified) stock options, stock appreciation rights, restricted stock awards, restricted stock units, other stock based awards, performance compensation awards (including cash bonus awards) or any combination of the foregoing. The Company typically issues new shares of common stock upon the exercise of stock options, as opposed to using treasury shares.

The Company follows guidance which addresses the accounting for share-based payment transactions whereby an entity receives employee services in exchange for either equity instruments of the enterprise or liabilities that are based on the fair value of the enterprise’s equity instruments or that may be settled by the issuance of such equity instruments. The guidance generally requires that such transactions be accounted for using a fair-value based method and share-based compensation expense be recorded, based on the grant date fair value, estimated in accordance with the guidance, for all new and unvested stock awards that are ultimately expected to vest as the requisite service is rendered.

The Company granted 331,616 and 1,506,848 options during the years ended December 31, 2017 and 2016, respectively. Of the total options granted during the year ended December 31, 2016, 6,848 options were granted to Philip Falcone, pursuant to a standalone option agreement entered in connection with Mr. Falcone’s appointment as Chairman, President and Chief Executive Officer of the Company, and not pursuant to the Omnibus Plan. The anti-dilution protection provision contained in such standalone option agreement was canceled in April 2016 and replaced with an award consisting solely of 1,500,000 premium stock options issued under the Omnibus Plan.

The weighted average fair value at date of grant for options granted during the years ended December 31, 2017, and 2016 was $2.72 and $1.09, respectively, per option. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year:



	Years Ended December 31,
	2017		2016		2015
Expected option life (in years)	0.39 - 6.10		4.70 - 6.00		4.80 - 5.50
Risk-free interest rate	1.11 - 2.22%		1.27 - 1.35%		1.49 - 1.73%
Expected volatility	47.04 - 48.29%		39.58 - 55.58%		36.29 - 53.83%
Dividend yield	—	%	—	%	—	%

Total share-based compensation expense recognized by the Company and its subsidiaries under all equity compensation arrangements was $5.2 million, $8.3 million and $11.1 million for the years ended December 31, 2017 and 2016 and 2015, respectively. All grants are time based and vest either immediately or over a period of up to 4 years. The Company recognizes compensation expense for equity awards, reduced by actual forfeitures, using the straight-line basis.

Restricted Stock

A summary of HC2’s restricted stock activity is as follows:



	Shares		Weighted Average Grant Date Fair Value
Unvested - December 31, 2015	790,688		$	8.14
Granted	301,040		$	3.89
Vested	(959,196	)	$	7.17
Forfeited	(16,611	)	$	5.03
Unvested - December 31, 2016	115,921		$	5.59
Granted	1,847,473		$	5.41
Vested	(374,988	)	$	5.64
Forfeited	—		$	—
Unvested - December 31, 2017	1,588,406		$	5.36

As of December 31, 2017, the unvested restricted stock represented $7.5 million of compensation expense that is expected to be recognized over the weighted average remaining vesting period of approximately 3.0 years. The number of shares of unvested restricted stock expected to vest is 1,588,406.

Stock Options

A summary of HC2’s stock option activity is as follows:



	Shares		Weighted Average Exercise Price
Outstanding - December 31, 2015	5,361,285		$	5.48
Granted	1,506,848		$	10.49
Exercised	(2,000	)	$	4.06
Forfeited	(2,800	)	$	4.06
Expired	(34,236	)	$	6.68
Outstanding - December 31, 2016	6,829,097		$	6.58
Granted	331,616		$	5.50
Exercised	(134,539	)	$	3.53
Forfeited	—		$	—
Expired	(36,318	)	$	9.00
Outstanding - December 31, 2017	6,989,856		$	6.57

Eligible for exercise	5,742,604		$	5.93

As of December 31, 2017, intrinsic value and average remaining life of the Company's outstanding options were $5.6 million and approximately 7.1 years, and intrinsic value and average remaining life of the Company's exercisable options were $5.5 million and approximately 6.8 years.

As of December 31, 2017, unvested stock options outstanding represented $1.2 million of compensation expense and are expected to be recognized over the weighted average remaining vesting period of 1.7 years. There are 1,247,252 unvested stock options expected to vest, with a weighted average remaining life of 8.5 years, a weighted average exercise price of $9.51, and an intrinsic value of $0.1 million.

Equity

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Equity

18. Equity

November 2015 Public Offering of Common Stock by the Company

On November 4, 2015, the Company entered into an underwriting agreement relating to the issuance and sale of 7,350,000 shares of the Company’s common stock in a public offering (the "November 2015 Offering"). In addition, on November 5, 2015 the underwriter in the November 2015 Offering exercised its option to purchase an additional 1,102,500 shares of common stock from the Company. The total number of shares sold by the Company in the November 2015 Offering was 8,452,500 shares. The November 2015 Offering closed on November 9, 2015. The net proceeds to the Company from the November 2015 Offering, after deducting underwriting discounts and commissions and offering expenses, were approximately $54.7 million.

Series A Preferred Stock, Series A-1 Preferred Stock and Series A-2 Preferred Stock

The Company’s preferred shares authorized, issued and outstanding consisted of the following:



	December 31,
	2017	2016
Preferred shares authorized, $0.001 par value	20,000,000	20,000,000
Series A shares issued and outstanding	12,500	14,808
Series A-1 shares issued and outstanding	—	1,000
Series A-2 shares issued and outstanding	14,000	14,000

In connection with the issuance of the Series A Convertible Preferred Stock, the Company adopted a Certificate of Designation of Series A Convertible Participating Preferred Stock adopted on May 29, 2014 (the "Series A Certificate"). In connection with the issuance of the Series A-1 Preferred Stock on September 22, 2014, the Company adopted the Certificate of Designation of Series A-1 Convertible Participating Preferred Stock (the "Series A-1 Certificate") and also amended and restated the Series A Certificate. In connection with the issuance of the Series A-2 Preferred Stock on January 5, 2015, the Company adopted the Certificate of Designation of Series A-2 Convertible Participating Preferred Stock (the "Series A-2 Certificate") and also amended and restated the Series A Certificate and the Series A-1 Certificate. On August 10, 2015, the Company adopted certain Certificates of Correction of the Certificates of Amendment to the Certificates of Designation of the Series A Certificate, the Series A-1 Certificate and the Series A-2 Certificate, and on June 24, 2016 the Company adopted certain amendments to the Series A-1 Certificate of Designation. The Series A Certificate, the Series A-1 Certificate and the Series A-2 Certificate together, as amended, are referred to as the "Certificates of Designation."

The following summary of the terms of the Preferred Stock and the Certificates of Designation is qualified in its entirety by the complete terms of the Certificates of Designation.

Dividends. The Preferred Stock accrues a cumulative quarterly cash dividend at an annualized rate of 7.50%. The accrued value of the Preferred Stock will accrete quarterly at an annualized rate of 4.00% that is reduced to 2.00% or 0.00% if the Company achieves specified rates of growth measured by increases in its net asset value; provided, that the accreting dividend rate will be 7.25% in the event that (i) the daily volume weighted average price ("VWAP") of the common stock is less than a certain threshold amount, (ii) the common stock is not registered under Section 12(b) of the Securities Exchange Act of 1934, as amended, (iii) following May 29, 2015, the common stock is not listed on certain national securities exchanges or (iv) the Company is delinquent in the payment of any cash dividends. The Preferred Stock is also entitled to participate in cash and in-kind distributions to holders of shares of common stock on an as-converted basis.

Optional Conversion. Each share of Preferred Stock may be converted by the holder into common stock at any time based on the then applicable conversion price. Pursuant to the Series A Certificate, each share of Series A Preferred Stock is currently convertible at a conversion price of $4.25. Pursuant to the Series A-2 Certificate, each share of Series A-2 Preferred Stock is currently convertible at a conversion price of $7.75. Such conversion prices are subject to adjustment for dividends, certain distributions, stock splits, combinations, reclassifications, reorganizations, mergers, recapitalizations and similar events, as well as in connection with issuances of equity or equity-linked or other comparable securities by the Company at a price per share (or with a conversion or exercise price or effective issue price) that is below the applicable conversion price (which adjustment shall be made on a weighted average basis).

Redemption by the Holders / Automatic Conversion. On May 29, 2021, holders of the Preferred Stock are entitled to cause the Company to redeem the Preferred Stock at the accrued value per share plus accrued but unpaid dividends (to the extent not included in the accrued value of Preferred Stock). Each share of Preferred Stock that is not so redeemed will be automatically converted into shares of common stock at the conversion price then in effect. Upon a change of control (as defined in the Certificates of Designation) holders of the Preferred Stock are entitled to cause the Company to redeem their Preferred Stock at a price per share of Preferred Stock equal to the greater of (i) the accrued value of the Preferred Stock, which amount would be multiplied by 150% in the event of a change of control occurring on or prior to May 29, 2017, plus any accrued and unpaid dividends (to the extent not included in the accrued value of Preferred Stock), and (ii) the value that would be received if the share of Preferred Stock were converted into common stock immediately prior to the change of control.

Redemption by the Company. At any time after May 29, 2017, the Company may redeem the Preferred Stock, in whole but not in part, at a price per share generally equal to 150% of the original accrued value or on that date, plus accrued but unpaid dividends (to the extent not included in the accrued value of Preferred Stock), subject to the holder’s right to convert prior to such redemption.

Forced Conversion. After May 29, 2017, the Company may force conversion of the Preferred Stock into common stock if the common stock’s thirty-day VWAP exceeds 150% of the then-applicable Conversion Price and the common stock’s daily VWAP exceeds 150% of the then applicable Conversion Price for at least twenty trading days out of the thirty trading day period used to calculate the thirty-day VWAP. In the event of a forced conversion, the holders of Preferred Stock will have the ability to elect cash settlement in lieu of conversion if certain market liquidity thresholds for the common stock are not achieved.

Liquidation Preference. The Series A Preferred Stock ranks at parity with the Series A-1 Preferred Stock and the Series A-2 Preferred Stock. In the event of any liquidation, dissolution or winding up of the Company (any such event, a "Liquidation Event"), the holders of Preferred Stock are entitled to receive per share the greater of (i) the accrued value of the Preferred Stock, which amount would be multiplied by 150% in the event of a Liquidation Event occurring on or prior to May 29, 2017, plus any accrued and unpaid dividends (to the extent not included in the accrued value of Preferred Stock), and (ii) the value that would be received if the share of Preferred Stock were converted into common stock immediately prior to such occurrence. The Preferred Stock will rank junior to any existing or future indebtedness but senior to the common stock and any future equity securities other than any future senior or pari-passu preferred stock issued in compliance with the Certificates of Designation.

Voting Rights. Except as required by applicable law, the holders of the shares of each series of Preferred Stock are entitled to vote on an as-converted basis with the holders of the other series of Preferred Stock (on an as-converted basis) and holders of the Company’s common stock on all matters submitted to a vote of the holders of common stock. Certain series of Preferred Stock are entitled to vote with the holders of certain other series of Preferred Stock on certain matters, and separately as a class on certain limited matters. Subject to maintenance of certain ownership thresholds by the initial purchasers of the Series A Preferred Stock and the initial purchasers of the Series A-1 Preferred Stock (collectively, the "Series A and Series A-1 Preferred Purchasers"), the holders of the shares of Preferred Stock also have the right to vote shares of Preferred Stock as a separate class for at least one director, as discussed below under "Board Rights."

Consent Rights. For so long as any of the Preferred Stock is outstanding, consent of the holders of shares representing at least 75% of certain of the Preferred Stock then outstanding is required for certain material actions.

Participation Rights. Pursuant to the securities purchase agreements entered into with the initial purchasers of the Series A Preferred Stock, the Series A-1 Preferred Stock and the Series A-2 Preferred Stock, subject to meeting certain ownership thresholds, certain purchasers of the Series A Preferred Stock, the Series A-1 Preferred Stock and the Series A-2 Preferred Stock are entitled to participate, on a pro-rata basis in accordance with their ownership percentage, determined on an as-converted basis, in issuances of equity and equity linked securities by the Company. In addition, subject to meeting certain ownership thresholds, certain initial purchasers of the Series A Preferred Stock, the Series A-1 Preferred Stock and the Series A-2 Preferred Stock will be entitled to participate in issuances of preferred securities and in debt transactions of the Company.

Preferred Share Conversions

DG Conversion

On May 2, 2017, the Company entered into an agreement with DG Value Partners, LP and DG Value Partners II Master Funds LP, holders (collectively, "DG Value") of the Company's Series A Preferred Stock and Series A-1 Preferred Stock, to convert and exchange all of DG Value's 2,308 shares of Series A Preferred Stock and 1,000 shares of Series A-1 Preferred Stock into a total of 803,469 shares of the Company's common stock. 17,500 shares of common stock issued in the conversion were issued as consideration for the agreement by DG Value to convert its Preferred Stock. The fair value of the 17,500 shares was $0.1 million on the date of issuance and was recorded within Preferred stock and deemed dividends from conversion line item of the Consolidated Statements of Operations as a deemed dividend.

Luxor and Corrib Conversions

On August 2, 2016, the Company entered into separate agreements with each of Corrib Master Fund, Ltd. ("Corrib"), then a holder of 1,000 shares of Series A Preferred Stock, and certain investment entities managed by Luxor Capital Group, LP ( "Luxor"), that together then held 9,000 shares of Series A-1 Preferred Stock, that govern their respective Preferred Share Conversions. In the Corrib Preferred Share Conversion (i) Corrib converted 1,000 shares of Series A Preferred Stock into 238,492 shares of the Company’s common stock, and (ii) in consideration of Corrib making such conversion, HC2 issued 15,318 newly issued shares of common stock to Corrib (such shares, the "Corrib Conversion Share Consideration"). In the Luxor Preferred Share Conversion, (i) Luxor converted 9,000 shares of Series A-1 Preferred Stock into 2,119,765 shares of the common stock and (ii) in consideration of Luxor making such conversion, HC2 issued 136,149 newly issued shares of common stock to Luxor (such shares, the "Luxor Conversion Share Consideration" and, together with the Corrib Conversion Share Consideration, the "Conversion Share Consideration"). The fair value of the Conversion Share Consideration was $0.7 million on the date of issuance and was recorded within Preferred stock and deemed dividends from conversion line item of the Consolidated Statements of Operations as a deemed dividend.

The Company also agreed to provide the following two forms of additional consideration for as long as the Preferred Stock remained entitled to receive dividend payments (the "Additional Share Consideration").

The Company agreed that in the event that Corrib and Luxor would have been entitled to any Participating Dividends payable, had they not converted the Preferred Stock (as defined in the respective Series A and Series A-1 Certificate of Designation), after the date of their Preferred Share conversion, then the Company will issue to Corrib and Luxor, on the date such Participating Dividends become payable by the Company, in a transaction exempt from the registration requirements of the Securities Act the number of shares of common stock equal to (a) the value of the Participating Dividends Corrib or Luxor would have received pursuant to Sections (2)(c) and (2)(d) of the respective Series A and Series A-1 Certificate of Designation, divided by (b) the Thirty Day VWAP (as defined in the respective Series A and Series A-1 Certificate of Designation) for the period ending two business days prior to the underlying event or transaction that would have entitled Corrib or Luxor to such Participating Dividend had Corrib’s or Luxor’s Preferred Stock remain unconverted.

Further, the Company agreed that it will issue to Corrib and Luxor, on each quarterly anniversary commencing May 29, 2017 (or, if later, the date on which the corresponding dividend payment is made to the holders of the outstanding Preferred Stock), through and until the Maturity Date (as defined in the respective Series A and Series A-1 Certificate of Designation), in a transaction exempt from the registration requirements of the Securities Act the number of shares of common stock equal to (a) 1.875% the Accrued Value (as defined in the respective Series A and Series A-1 Certificate of Designation) of Corrib’s or Luxor’s Preferred Stock as of the Closing Date (as defined in applicable Voluntary Conversion Agreements) divided by (b) the Thirty Day VWAP (as defined in the respective Series A and Series A-1 Certificate of Designation) for the period ending two business days prior to the applicable Dividend Payment Date (as defined in the respective Series A and Series A-1 Certificate of Designation).

For the year ended December 31, 2017, 44,555 and 5,013 shares of the Company's common stock have been issued to Luxor and Corrib, respectively, in conjunction with the Conversion agreement.

The fair value of the Additional Share Consideration was valued by the Company at $1.5 million on the date of issuance and was recorded within Preferred stock and deemed dividends from conversion line item of the Consolidated Statements of Operations as a deemed dividend.

Hudson Bay Conversion

On October 7, 2016, the Company entered into an agreement with Hudson Bay Absolute Return Credit Opportunities Master Fund, LTD. ("Hudson") to convert and exchange all of Hudson's 12,500 shares of the Company's Series A Convertible Participating Preferred Stock into a total of 3,751,838 shares of the Company's common stock.

Pursuant to the terms of the Series A Voluntary Conversion Agreement, HC2 and Hudson mutually agreed that on the closing date of the voluntary conversion, (i) Hudson voluntarily converted 12,499 of the 12,500 shares of Series A Preferred Stock it held into 2,980,912 shares of HC2’s common stock pursuant to the terms of the Certificate of Designation of Series A Convertible Participating Preferred Stock (the "Series A Certificate of Designation"), with such amount representing the number of shares of common stock into which the 12,499 shares of Series A Preferred Stock held by Hudson convertible pursuant to the terms of the Series A Certificate of Designation and (ii) in consideration of the conversion referenced in clause (i) above, the Company issued to the Series A holder in exchange for the single remaining share of Series A Preferred Stock held, in an exchange transaction exempt from the registration requirements of the Securities Act of 1933 and all of the rules and regulations promulgated thereunder (the "Securities Act") under Section 3(a)(9) of the Securities Act, 770,926 shares of common stock. The fair value of the 770,926 shares was $4.4 million on the date of issuance and was recorded within Preferred stock and deemed dividends from conversion line item of the Consolidated Statements of Operations as a deemed dividend.

Preferred Share Dividends

During 2017, HC2's Board of Directors declared cash dividends with respect to HC2’s issued and outstanding Preferred Stock, as presented in the following table (in thousands):

2017

Declaration Date

March 31, 2017

June 30, 2017

September 30, 2017

December 31, 2017

Holders of Record Date

March 31, 2017

June 30, 2017

September 30, 2017

December 31, 2017

Payment Date

April 17, 2017

July 17, 2017

October 16, 2017

January 16, 2018

Total Dividend

563

500

2016

Declaration Date

March 31, 2016

June 30, 2016

September 30, 2016

December 31, 2016

Holders of Record Date

March 31, 2016

June 30, 2016

September 30, 2016

December 31, 2016

Payment/Accrual Date

April 15, 2016

July 15, 2016

October 15, 2016

January 15, 2017

Total Dividend

988

800

563

Related Parties

12 Months Ended

Dec. 31, 2017

Related Parties

19. Related Parties

HC2

In January 2015, the Company entered into a services agreement (the "Services Agreement") with Harbinger Capital Partners, a related party of the Company, with respect to the provision of services that 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. The Company recognized $3.6 million and $3.1 million of expenses under the Services Agreement for the years ended December 31, 2017 and 2016, respectively.

GMSL

In November 2017, GMSL, acquired the trenching a cable lay services business from Fugro N.V. ("Fugro"). As part of the transaction, Fugro became a 23.6% holder of GMSL's parent, Global Marine Holdings, LLC ("GMH"). GMSL, in the normal course of business, incurred expenses with Fugro for various survey and other contractual services. For the year ended December 31, 2017, GMSL recognized $1.7 million of expenses for such services with Fugro.

The parent company of GMSL, GMH, incurred management fees of $0.7 million for each of the years ended December 31, 2017 and 2016, respectively.

GMSL has investments in various entities for which it exercises significant influence. A summary of transactions with such entities and balances outstanding are as follows (in thousands):



	Years Ended December 31,
	2017		2016
Net revenue	$	25,183	$	28,127
Operating expenses	$	7,350	$	7,272
Interest expense	$	1,395	$	1,498
Dividends	$	4,383	$	2,200



	December 31,
	2017		2016
Accounts receivable	$	8,654	$	2,644
Debt obligations	$	35,289	$	34,766
Accounts payable	$	1,925	$	2,760

Life Sciences

R2 incurred $2.0 million related to a milestone. Of the $2.0 million, $1.5 million was associated with Blossom Innovations, LLC, a related party.

Other

As part of the acquisition of DTV, a wholly-owned subsidiary of Broadcasting, issued $2.4 million in Senior Secured Promissory Notes ("Notes") to the sellers of DTV, such notes constituting a portion of the consideration delivered in connection with the transaction. Subsequent to the transaction, the sellers of the Notes entered into consulting agreements with DTV.

Operating Segment and Related Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Operating Segment and Related Information

20. Operating Segment and Related Information

The Company currently has two primary reportable geographic segments - United States and United Kingdom. The Company has seven reportable operating segments based on management’s organization of the enterprise - Construction, Marine Services, Energy, Telecommunications, Insurance, Life Sciences, Other, and a non-operating Corporate segment. Net revenue and long-lived assets by geographic segment is reported on the basis of where the entity is domiciled. All inter-segment revenues are eliminated. The Company has no single customer representing greater than 10% of its revenues.

Summary information with respect to the Company’s geographic and operating segments is as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Net Revenue by Geographic Region
United States	$	1,447,065	$	1,115,337	$	712,498
United Kingdom	158,257		417,933		395,917
Other	28,801		24,856		12,391
Total	$	1,634,123	$	1,558,126	$	1,120,806



	Years Ended December 31,
	2017			2016			2015
Net revenue
Construction	$	578,989		$	502,658		$	513,770
Marine Services	169,453			161,864			134,926
Energy	16,415			6,430			6,765
Telecommunications	701,898			735,043			460,355
Insurance	151,577			142,457			2,865
Other	15,791			9,674			2,125
Total net revenue	1,634,123			1,558,126			1,120,806

Income (loss) from operations
Construction	37,177			49,639			$	42,114
Marine Services	(880		)	(323		)	10,898
Energy	(2,770		)	(330		)	(888		)
Telecommunications	6,359			4,150			238
Insurance	25,353			(812		)	(176		)
Life Sciences	(17,202		)	(10,389		)	(6,404		)
Other	(9,299		)	(5,756		)	(6,198		)
Non-operating Corporate	(39,870		)	(37,600		)	(38,871		)
Total income (loss) from operations	(1,132		)	(1,421		)	713

Interest expense	(55,098		)	(43,375		)	(39,017		)
Gain (loss) on contingent consideration	11,411			(8,929		)	—
Income from equity investees	17,840			10,768			(1,499		)
Other expenses, net	(12,772		)	(2,836		)	(6,820		)
Income (loss) from continuing operations before income taxes	(39,751		)	(45,793		)	(46,623		)
Income tax (expense) benefit	(10,740		)	(51,638		)	10,882
Income (loss) from continuing operations	(50,491		)	(97,431		)	(35,741		)
Loss from discontinued operations	—			—			(21		)
Net loss	(50,491		)	(97,431		)	(35,762		)
Less: Net loss attributable to noncontrolling interest and redeemable noncontrolling interest	3,580			2,882			197
Net loss attributable to HC2 Holdings, Inc.	(46,911		)	(94,549		)	(35,565		)
Less: Preferred stock and deemed dividends from conversions	2,767			10,849			4,285
Net loss attributable to common stock and participating preferred stockholders	$	(49,678	)	$	(105,398	)	$	(39,850	)



	Years Ended December 31,
	2017			2016			2015
Depreciation and Amortization
Construction	$	5,583		$	1,892		$	2,016
Marine Services	22,898			22,007			18,771
Energy	5,071			2,248			1,635
Telecommunications	371			504			417
Insurance ⁽¹⁾	(4,373		)	(3,771		)	2
Life Sciences	186			124			21
Other	1,508			1,489			—
Non-operating Corporate	71			—			1,934
Total	$	31,315		$	24,493		$	24,796

⁽¹⁾ Balance represents amortization of negative VOBA, which increases net income.



	Years Ended December 31,
	2017		2016		2015
Capital Expenditures ⁽²⁾
Construction	$	11,684	$	8,243	$	4,969
Marine Services	10,519		12,231		10,651
Energy	8,569		7,211		4,750
Telecommunications	48		831		449
Insurance	597		128		—
Life Sciences	465		195		271
Other	25		45		234
Non-operating Corporate	18		164		—
Total	$	31,925	$	29,048	$	21,324

⁽²⁾The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations.



	December 31,
	2017			2016
Investments
Construction	$	250		$	—
Marine Services	66,322			40,698
Insurance	1,493,589			1,407,996
Life Sciences	17,771			13,067
Other	1,518			6,778
Eliminations	(35,852		)	(40,621		)
Total	$	1,543,598		$	1,427,918



	December 31,
	2017		2016
Property, Plant, and Equipment, net
United States	$	162,788	$	136,905
United Kingdom	204,866		141,946
Other	7,006		7,607
Total	$	374,660	$	286,458



	December 31,
	2017			2016
Total Assets
Construction	$	342,806		$	295,246
Marine Services	389,500			275,660
Energy	83,607			84,602
Telecommunications	114,445			125,965
Insurance	2,117,045			2,027,059
Life Sciences	31,485			28,868
Other	139,364			10,914
Non-operating Corporate	35,291			27,583
Eliminations	(35,852		)	(40,621		)
Total	$	3,217,691		$	2,835,276

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

21. Quarterly Results of Operations (Unaudited)

The following is a tabulation of the unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 (in thousands, except per share amounts):



	Quarters Ended
	March 31, 2017			June 30, 2017			September 30, 2017			December 31, 2017
Revenue	$	354,542		$	340,383		$	368,672		$	418,949
Other Revenue	36,026			38,269			37,737			39,545
Net revenue	390,568			378,652			406,409			458,494
Cost of revenue	314,414			308,664			324,673			365,318
Other operating expenses	75,182			81,183			71,171			94,650
Income (loss) from operations	972			(11,195		)	10,565			(1,474		)

Net loss attributable to common stock and participating preferred stockholders	$	(15,079	)	$	(18,704	)	$	(6,670	)	$	(9,225	)

Weighted average common shares outstanding-basic and diluted	41,948			42,691			43,013			43,623

Basic and Diluted income (loss) per common share:
Net income (loss) attributable to HC2 Holdings, Inc.	$	(0.36	)	$	(0.44	)	$	(0.16	)	$	(0.21	)



	Quarters Ended
	March 31, 2016			June 30, 2016		September 30, 2016			December 31, 2016
Revenue	$	302,606		$	323,131	$	378,538		$	411,394
Other revenue	29,138			36,162		34,546			42,611
Net revenue	331,744			359,293		413,084			454,005
Cost of revenue	274,550			284,483		333,860			361,148
Other operating expenses	76,567			68,832		72,370			87,737
Income (loss) from operations	(19,373		)	5,978		6,854			5,120

Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - common holders	(31,531		)	891		(7,506		)	(67,252		)
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - preferred holders	—			—		—			—
Net loss attributable to common stock and participating preferred stockholders	$	(31,531	)	$	891	$	(7,506	)	$	(67,252	)

Weighted average common shares outstanding-basic and diluted	35,262			35,518		36,627			41,570

Basic income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - common holders	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - preferred holders	—			—		—			—
Net income (loss) attributable to HC2 Holdings, Inc.	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)

Diluted income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - common holders	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - preferred holders	—			—		—			—
Net income (loss) attributable to HC2 Holdings, Inc.	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)

Quarterly and year-to-date computations of per share amounts are made independently; therefore, the sum of per share amounts for the quarters may not agree with per share amounts for the year.

Basic and Diluted Loss Per Common Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Basic and Diluted Loss Per Common Share

22. Basic and Diluted Loss Per Common Share

EPS is calculated using the two-class method, which allocates earnings among common stock and participating securities to calculate EPS when an entity's capital structure includes either two or more classes of common stock or common stock and participating securities. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities. As such, shares of any unvested restricted stock of the Company are considered participating securities. The dilutive effect of options and their equivalents (including non-vested stock issued under stock-based compensation plans), is computed using the "treasury" method.

The Company had no dilutive common share equivalents during the years ended December 31, 2017, 2016 and 2015, due to the results of operations being a loss from continuing operations, net of tax. The Company issued a warrant, Preferred Stock, as well as outstanding stock options and unvested RSUs granted under the Prior Plan and Omnibus Plan, each of which were potentially dilutive but were excluded from the calculation of diluted loss per common share due to their antidilutive effect.

The following table presents a reconciliation of net income (loss) used in basic and diluted EPS calculations (in thousands, except per share amounts):



	Years Ended December 31,
	2017			2016			2015
Loss from continuing operations attributable to common stock and participating preferred stockholders	$	(49,678	)	$	(105,398	)	$	(39,829	)
Loss from discontinued operations	—			—			(21		)
Net loss attributable to common stock and participating preferred stockholders	$	(49,678	)	$	(105,398	)	$	(39,850	)

Earnings allocable to common shares:
Numerator for basic and diluted EPS
Participating shares at end of period:
Weighted-average Common stock outstanding - basic and diluted	42,824			37,260			26,482

Percentage of loss allocated to:
Common Stock	100		%	100		%	100		%
Preferred Stock	—		%	—		%	—		%

Loss attributable to common shares - basic and diluted:
Loss from continuing operations	$	(49,678	)	$	(105,398	)	$	(39,829	)
Loss from discontinued operations	—			—			(21		)
Net Loss	$	(49,678	)	$	(105,398	)	$	(39,850	)

Denominator for basic and diluted EPS
Weighted average common shares outstanding - basic and diluted	42,824			37,260			26,482

Basic and Diluted EPS
Net loss attributable to common stock and participating preferred stockholders - basic and diluted	$	(1.16	)	$	(2.83	)	$	(1.50	)

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	23. Subsequent Events The Company evaluated subsequent events from December 31, 2017 through March 14, 2018, the date the Consolidated Financial Statements were issued, and noted the following: On February 4, 2018, Broadcasting entered into a First Amendment to the Bridge Loan, which amends the existing Bridge Loan, to add an additional $27.0 million in principal borrowing capacity to the existing credit agreement. On February 6, 2018, Broadcasting borrowed $42.0 million in principal amount of the Bridge Loan, the net proceeds of which will be used to finance certain acquisitions, to pay fees, costs and expenses relating to the Bridge Loans, and for general corporate purposes. The total aggregate principal amount of the Bridge Loan outstanding after the February 6, 2018 borrowing was $102.0 million. On February 7, 2018, a wholly-owned subsidiary of Broadcasting closed on the acquisition of Northstar's broadcast television stations. The total consideration paid in February 2018 was $33.0 million. Prior to December 31, 2017, wholly owned subsidiaries of Broadcasting had signed purchase agreements, which are subject to FCC approval and closing conditions, for a total consideration of $8.3 million. As of March 14, 2018, a portion of the transactions received FCC approval and closed for a total consideration of $4.6 million. Subsequent to December 31, 2017, wholly-owned subsidiaries of Broadcasting had signed purchase agreements to acquire broadcasting assets, subject to FCC approval and closing conditions, for a total consideration of $8.7 million. In February 2018, the United States Congress passed its omnibus budget for 2018, which included a retroactive Alternative Fuel Excise Tax credit through December 31, 2017 and will provide approximately $2.6 million in net income to ANG, to be recorded in 2018.

SCHEDULE I Summary of investments — other than investments in related parties

12 Months Ended

Dec. 31, 2017

Summary of Investments, Other than Investments in Related Parties [Abstract]

SCHEDULE I Summary of investments — other than investments in related parties



	Amortized Cost		Fair Value		Amount at which shown in the balance sheet
Fixed maturity securities
Bonds
United States Government and government agencies and authorities	$	15,283	$	15,722	$	15,722
States, municipalities and political subdivisions	377,549		395,450		395,450
Foreign governments	6,331		5,999		5,999
Public utilities	117,782		128,058		128,058
Convertibles and bonds with warrants attached	7,499		7,409		7,409
All other corporate bonds	742,127		787,988		787,988
Total fixed maturity securities	1,266,571		1,340,626		1,340,626
Equity securities
Industrial, miscellaneous and all other	4,938		4,928		4,928
Nonredeemable preferred stocks	40,902		42,572		42,572
Total equity securities	45,840		47,500		47,500
Mortgage loans	52,109		52,110		52,109
Policy loans	17,944		17,944		17,944
Other invested assets	74,775		243,416		85,419
Total investments	$	1,457,239	$	1,701,596	$	1,543,598

SCHEDULE II Condensed Financial Information of the Registrant - BALANCE SHEETS

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

SCHEDULE II Condensed Financial Information of the Registrant - BALANCE SHEETS



	December 31,
	2017			2016
Assets
Cash and cash equivalents	$	29,433		$	21,722
Other current assets	558			422
Total current assets	29,991			22,144
Investment in subsidiaries	500,634			380,308
Other assets	5,301			5,440
Total assets	$	535,926		$	407,892

Liabilities
Accounts payable	$	689		$	977
Accrued and other current liabilities	21,370			13,255
Total current liabilities	22,059			14,232
Intercompany payable	15,567			3,974
Debt obligations	393,825			299,466
Other liabilities	5,008			16,546
Total liabilities	436,459			334,218

Temporary equity
Preferred stock	26,296			29,459

Stockholders’ equity
Common stock	44			42
Additional paid-in capital	254,685			241,485
Treasury stock	(2,057		)	(1,387		)
Accumulated deficit	(221,189		)	(174,278		)
Accumulated other comprehensive income (loss)	41,688			(21,647		)
Total stockholders’ equity	73,171			44,215
Total liabilities, temporary equity and stockholders’ equity	$	535,926		$	407,892



	For the years ended December 31,
	2017			2016			2015
Revenue	$	—		$	—		$	—
Operating expenses
General and administrative	39,799			37,615			38,410
Depreciation and amortization	71			9			—
Total operating expenses	39,870			37,624			38,410
Loss from operations	(39,870		)	(37,624		)	(38,410		)
Interest expense	(44,136		)	(35,987		)	(33,793		)
Gain (loss) on contingent consideration	11,411			(11,411		)	—
Equity in net income (loss) of subsidiaries	15,407			441			26,879
Other income (expense)	91			1,277			(4,736		)
Loss before income taxes	(57,097		)	(83,304		)	(50,060		)
Tax (benefit) expense	(10,186		)	11,245			(14,495		)
Net loss	$	(46,911	)	$	(94,549	)	$	(35,565	)



	December 31,
	2017			2016			2015
Net cash used by operating activities	$	(32,905	)	$	(21,231	)	$	(31,601	)
Cash flows from investing activities:
Contributions to subsidiaries	(24,112		)	(22,428		)	(62,356		)
Return of capital from subsidiaries	13,245			31,112			—
Cash paid for business acquisitions, net of cash acquired	(2,600		)	—			—
Other investing activity	(136		)	(164		)	(400		)
Net cash provided by (used in) investing activities	(13,603		)	8,520			(62,756		)
Cash flows from financing activities:
Proceeds from debt obligations	91,676			—			50,250
Principal payments on debt obligations	(35,000		)	—			—
Proceeds from sale of common stock, net	—			—			53,975
Proceeds from sale of preferred stock, net	—			—			14,033
Purchase of noncontrolling interest	(29		)	(1,348		)	—
Advances (to) from affiliates	—			—			5,000
Payment of dividends	(2,126		)	(4,220		)	(4,066		)
Proceeds from the exercise of warrants and stock options	486			8			—
Taxes paid in lieu of shares issued for share-based compensation	(670		)	(1,009		)	—
Other financing activity	(118		)	(77		)	(1,298		)
Net cash provided by (used in) financing activities	54,219			(6,646		)	117,894
Net change in cash and cash equivalents	7,711			(19,357		)	23,537
Cash and cash equivalents at beginning of period	21,722			41,079			17,542
Cash and cash equivalents at end of period	$	29,433		$	21,722		$	41,079

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

SCHEDULE II Condensed Financial Information of the Registrant - STATEMENT OF OPERATIONS

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

SCHEDULE II Condensed Financial Information of the Registrant - STATEMENT OF OPERATIONS



	December 31,
	2017			2016
Assets
Cash and cash equivalents	$	29,433		$	21,722
Other current assets	558			422
Total current assets	29,991			22,144
Investment in subsidiaries	500,634			380,308
Other assets	5,301			5,440
Total assets	$	535,926		$	407,892

Liabilities
Accounts payable	$	689		$	977
Accrued and other current liabilities	21,370			13,255
Total current liabilities	22,059			14,232
Intercompany payable	15,567			3,974
Debt obligations	393,825			299,466
Other liabilities	5,008			16,546
Total liabilities	436,459			334,218

Temporary equity
Preferred stock	26,296			29,459

Stockholders’ equity
Common stock	44			42
Additional paid-in capital	254,685			241,485
Treasury stock	(2,057		)	(1,387		)
Accumulated deficit	(221,189		)	(174,278		)
Accumulated other comprehensive income (loss)	41,688			(21,647		)
Total stockholders’ equity	73,171			44,215
Total liabilities, temporary equity and stockholders’ equity	$	535,926		$	407,892



	For the years ended December 31,
	2017			2016			2015
Revenue	$	—		$	—		$	—
Operating expenses
General and administrative	39,799			37,615			38,410
Depreciation and amortization	71			9			—
Total operating expenses	39,870			37,624			38,410
Loss from operations	(39,870		)	(37,624		)	(38,410		)
Interest expense	(44,136		)	(35,987		)	(33,793		)
Gain (loss) on contingent consideration	11,411			(11,411		)	—
Equity in net income (loss) of subsidiaries	15,407			441			26,879
Other income (expense)	91			1,277			(4,736		)
Loss before income taxes	(57,097		)	(83,304		)	(50,060		)
Tax (benefit) expense	(10,186		)	11,245			(14,495		)
Net loss	$	(46,911	)	$	(94,549	)	$	(35,565	)



	December 31,
	2017			2016			2015
Net cash used by operating activities	$	(32,905	)	$	(21,231	)	$	(31,601	)
Cash flows from investing activities:
Contributions to subsidiaries	(24,112		)	(22,428		)	(62,356		)
Return of capital from subsidiaries	13,245			31,112			—
Cash paid for business acquisitions, net of cash acquired	(2,600		)	—			—
Other investing activity	(136		)	(164		)	(400		)
Net cash provided by (used in) investing activities	(13,603		)	8,520			(62,756		)
Cash flows from financing activities:
Proceeds from debt obligations	91,676			—			50,250
Principal payments on debt obligations	(35,000		)	—			—
Proceeds from sale of common stock, net	—			—			53,975
Proceeds from sale of preferred stock, net	—			—			14,033
Purchase of noncontrolling interest	(29		)	(1,348		)	—
Advances (to) from affiliates	—			—			5,000
Payment of dividends	(2,126		)	(4,220		)	(4,066		)
Proceeds from the exercise of warrants and stock options	486			8			—
Taxes paid in lieu of shares issued for share-based compensation	(670		)	(1,009		)	—
Other financing activity	(118		)	(77		)	(1,298		)
Net cash provided by (used in) financing activities	54,219			(6,646		)	117,894
Net change in cash and cash equivalents	7,711			(19,357		)	23,537
Cash and cash equivalents at beginning of period	21,722			41,079			17,542
Cash and cash equivalents at end of period	$	29,433		$	21,722		$	41,079

- Definition

+ References + Details

SCHEDULE II Condensed Financial Information of the Registrant - STATEMENTS OF CASH FLOWS

12 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

SCHEDULE II Condensed Financial Information of the Registrant - STATEMENTS OF CASH FLOWS



	December 31,
	2017			2016
Assets
Cash and cash equivalents	$	29,433		$	21,722
Other current assets	558			422
Total current assets	29,991			22,144
Investment in subsidiaries	500,634			380,308
Other assets	5,301			5,440
Total assets	$	535,926		$	407,892

Liabilities
Accounts payable	$	689		$	977
Accrued and other current liabilities	21,370			13,255
Total current liabilities	22,059			14,232
Intercompany payable	15,567			3,974
Debt obligations	393,825			299,466
Other liabilities	5,008			16,546
Total liabilities	436,459			334,218

Temporary equity
Preferred stock	26,296			29,459

Stockholders’ equity
Common stock	44			42
Additional paid-in capital	254,685			241,485
Treasury stock	(2,057		)	(1,387		)
Accumulated deficit	(221,189		)	(174,278		)
Accumulated other comprehensive income (loss)	41,688			(21,647		)
Total stockholders’ equity	73,171			44,215
Total liabilities, temporary equity and stockholders’ equity	$	535,926		$	407,892



	For the years ended December 31,
	2017			2016			2015
Revenue	$	—		$	—		$	—
Operating expenses
General and administrative	39,799			37,615			38,410
Depreciation and amortization	71			9			—
Total operating expenses	39,870			37,624			38,410
Loss from operations	(39,870		)	(37,624		)	(38,410		)
Interest expense	(44,136		)	(35,987		)	(33,793		)
Gain (loss) on contingent consideration	11,411			(11,411		)	—
Equity in net income (loss) of subsidiaries	15,407			441			26,879
Other income (expense)	91			1,277			(4,736		)
Loss before income taxes	(57,097		)	(83,304		)	(50,060		)
Tax (benefit) expense	(10,186		)	11,245			(14,495		)
Net loss	$	(46,911	)	$	(94,549	)	$	(35,565	)



	December 31,
	2017			2016			2015
Net cash used by operating activities	$	(32,905	)	$	(21,231	)	$	(31,601	)
Cash flows from investing activities:
Contributions to subsidiaries	(24,112		)	(22,428		)	(62,356		)
Return of capital from subsidiaries	13,245			31,112			—
Cash paid for business acquisitions, net of cash acquired	(2,600		)	—			—
Other investing activity	(136		)	(164		)	(400		)
Net cash provided by (used in) investing activities	(13,603		)	8,520			(62,756		)
Cash flows from financing activities:
Proceeds from debt obligations	91,676			—			50,250
Principal payments on debt obligations	(35,000		)	—			—
Proceeds from sale of common stock, net	—			—			53,975
Proceeds from sale of preferred stock, net	—			—			14,033
Purchase of noncontrolling interest	(29		)	(1,348		)	—
Advances (to) from affiliates	—			—			5,000
Payment of dividends	(2,126		)	(4,220		)	(4,066		)
Proceeds from the exercise of warrants and stock options	486			8			—
Taxes paid in lieu of shares issued for share-based compensation	(670		)	(1,009		)	—
Other financing activity	(118		)	(77		)	(1,298		)
Net cash provided by (used in) financing activities	54,219			(6,646		)	117,894
Net change in cash and cash equivalents	7,711			(19,357		)	23,537
Cash and cash equivalents at beginning of period	21,722			41,079			17,542
Cash and cash equivalents at end of period	$	29,433		$	21,722		$	41,079

- Definition

+ References + Details

SCHEDULE III Supplementary Insurance Information

12 Months Ended

Dec. 31, 2017

Supplementary Insurance Information [Abstract]

SCHEDULE III Supplementary Insurance Information



	As of and for the years ended December 31,
	2017		2016		2015
Insurance Company
Deferred policy acquisition cost	$	—	$	—	$	—
Future policy benefits, losses, claims and loss expenses	$	1,937,117	$	1,899,835	$	1,852,790
Unearned premiums	$	—	$	—	$	—
Net earned premiums	$	80,524	$	79,406	$	1,578
Net investment income	$	66,070	$	58,032	$	1,025
Benefits, claims, losses	$	24,293	$	15,667	$	1,293
Amortization of deferred policy acquisition cost	$	—	$	—	$	—
Other operating expenses	$	23,195	$	23,147	$	318
Net written premiums (excluding life)	$	72,522	$	70,597	$	1,399

SCHEDULE IV Reinsurance

12 Months Ended

Dec. 31, 2017

Supplemental Schedule of Reinsurance Premiums for Insurance Companies [Abstract]

SCHEDULE IV Reinsurance

2017



	Gross Amount		Ceded to other companies			Assumed from other companies		Net Amount		Percentage of amount assumed to net
Life insurance in force	$	720,192	$	(467,660	)	$	34,336	$	286,868	12.0	%
Premiums:
Life insurance	$	12,160	$	(4,567	)	$	409	$	8,002	5.1	%
Accident and health insurance	197,981		(129,874		)	4,415		72,522		6.1	%
Total premiums	$	210,141	$	(134,441	)	$	4,824	$	80,524	6.0	%

2016



	Gross Amount		Ceded to other companies			Assumed from other companies		Net Amount		Percentage of amount assumed to net
Life insurance in force	$	764,884	$	(494,987	)	$	36,270	$	306,167	11.8	%
Premiums:
Life insurance	$	13,255	$	(4,856	)	$	410	$	8,809	4.7	%
Accident and health insurance	212,041		(145,905		)	4,461		70,597		6.3	%
Total premiums	$	225,296	$	(150,761	)	$	4,871	$	79,406	6.1	%

2015



	Gross Amount		Ceded to other companies			Assumed from other companies		Net Amount		Percentage of amount assumed to net
Life insurance in force	$	820,217	$	(531,908	)	$	37,779	$	326,088	11.6	%
Premiums:
Life insurance	$	262	$	(91	)	$	8	$	179	4.5	%
Accident and health insurance	9,323		(8,080		)	156		1,399		11.2	%
Total premiums	$	9,585	$	(8,171	)	$	164	$	1,578	10.4	%

SCHEDULE V Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2017

Valuation and Qualifying Accounts [Abstract]

SCHEDULE V Valuation and Qualifying Accounts

Activity in the Company’s allowance accounts for the years ended December 31, 2017, 2016 and 2015 was as follows:



	Doubtful Accounts Receivable
	Balance at Beginning of Period		Charged to Costs and Expenses		Deductions			Other		Balance at End of Period
2015	$	2,760	$	99	$	(2,065	)	$	—	$	794
2016	$	794	$	2,862	$	(37	)	$	—	$	3,619
2017	$	3,619	$	127	$	(13	)	$	—	$	3,733



	Deferred Tax Asset Valuation
	Balance at Beginning of Period		Charged to Costs and Expenses			Deductions		Other			Balance at End of Period
2015	$	68,983	$	(879	)	$	—	$	—		$	68,104
2016	$	68,104	$	57,830		$	—	$	12,110		$	138,044
2017	$	138,044	$	6,263		$	—	$	(10,803	)	$	133,504

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2017
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company, its wholly owned subsidiaries and all other subsidiaries over which the Company exerts control. All intercompany profits, transactions and balances have been eliminated in consolidation. As of December 31, 2017, the results of DBMG, GMSL, ANG, ICS, CGI, Genovel, R2, BeneVir, Broadcasting, and 704Games have been consolidated into the Company’s results based on guidance from the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC" 810, Consolidation. The remaining interests not owned by the Company are presented as a noncontrolling interest component of total equity
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents are comprised principally of amounts in money market accounts, operating accounts, certificates of deposit, and overnight repurchase agreements with original maturities of three months or less.
Acquisitions	Acquisitions The Company’s acquisitions are accounted for using the acquisition method of accounting, which requires, among other things, that assets acquired and liabilities assumed be recognized at their estimated fair values as of the acquisition date. Estimates of fair value included in the Consolidated Financial Statements, in conformity with ASC 820, Fair Value Measurements and Disclosures, represent the Company’s best estimates and valuations developed, when needed, with the assistance of independent appraisers or, where such valuations have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The following estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially. Any changes to the initial estimates of the fair value of the assets and liabilities will be recorded as adjustments to those assets and liabilities, and residual amounts will be allocated to goodwill. In accordance with ASC 805 Business Combinations ("ASC 805"), if additional information is obtained about the initial estimates of the fair value of the assets acquired and liabilities assumed within the measurement period (not to exceed one year from the date of acquisition), including finalization of asset appraisals, the Company will refine its estimates of fair value to allocate the purchase price more accurately
Investments	Investments The Company determines the appropriate classification of investments in fixed maturity and equity securities at the acquisition date and re-evaluates the classification at each balance sheet date. Substantially all of our investments in equity and fixed maturity securities are classified as available-for-sale. The Company utilizes the equity method to account for investments when it possesses the ability to exercise significant influence, but not control, over the operating and financial policies of the investee. The ability to exercise significant influence is presumed when an investor possesses more than 20% of the voting interests of the investee. This presumption may be overcome based on specific facts and circumstances that demonstrate that the ability to exercise significant influence is restricted. The Company applies the equity method to investments in common stock and to other investments when such other investments possess substantially identical subordinated interests to common stock. In applying the equity method, the Company records the investment at cost and subsequently increases or decreases the carrying amount of the investment by its proportionate share of the net earnings or losses and other comprehensive income of the investee. The Company records dividends or other equity distributions as reductions in the carrying value of the investment. In the event that net losses of the investee reduce the carrying amount to zero, additional net losses may be recorded if other investments in the investee are at-risk, even if the Company has not committed to provide financial support to the investee. Such additional equity method losses, if any, are based upon the change in the Company's claim on the investee’s book value. Fixed maturity securities, available-for-sale at fair value include bonds and redeemable preferred stocks. The Company carries these investments at fair value with net unrealized gains or losses, net of tax and related adjustments, reported as a component of Accumulated Other Comprehensive Income (Loss) ("AOCI"). Equity securities, available-for-sale at fair value include investments in common stock and non-redeemable preferred stock. The Company carries these investments at fair value with net unrealized gains or losses, net of tax and related adjustments, reported as a component of AOCI. Mortgage loans are carried at amortized unpaid balances, net of provisions for estimated losses. Interest income is accrued on the principal amount of the loan based on the loan's contractual interest rate. Policy loans are stated at current unpaid principal balances. Policy loans are collateralized by the cash surrender value of the policy. Interest income is recorded as earned using the contractual interest rate. Other invested assets include (i) common stock of publicly traded companies accounted for using the equity method; (ii) common and preferred stock of privately held companies accounted for using the equity or cost method; (ii) limited partnerships and joint ventures accounted for using the equity method; (iii) equity purchase warrants and call options accounted for as a derivative (as discussed below); and, (iv) equity purchase warrants accounted for under the cost method. Premiums and discounts on fixed maturity securities are amortized using the interest method; mortgage-backed securities are amortized over a period based on estimated future principal payments, including prepayments. Prepayment assumptions are reviewed periodically and adjusted to reflect actual prepayments and changes in expectations. Dividends on equity securities are recognized when declared. When the Company sells a security, the difference between the sale proceeds and amortized cost (determined based on specific identification) is reported as a realized investment gain or loss. When a decline in the value of a specific investment is considered to be other-than-temporary at the balance sheet date, a provision for impairment is charged to earnings (included in realized gains (losses) on investments) and the cost basis of that investment is reduced. If the Company can assert that it does not intend to sell an impaired fixed maturity security and it is not more likely than not that it will have to sell the security before recovery of its amortized cost basis, then the other-than-temporary impairment is separated into two components: (i) the amount related to credit losses (recorded in earnings) and (ii) the amount related to all other factors (recorded in AOCI). The credit-related portion of an other-than-temporary impairment is measured by comparing a security’s amortized cost to the present value of its current expected cash flows discounted at its effective yield prior to the impairment charge. If the Company intends to sell an impaired security, or it is more likely than not that it will be required to sell the security before recovery, an impairment charge to earnings is recorded to reduce the amortized cost of that security to fair value.
Derivatives	Derivatives Equity purchase warrants, equity call options and the Company's issued warrant to purchase its common stock qualify as a derivative under ASC 815, Derivatives and Hedging. All of such derivative instruments are recognized as either assets or liabilities at fair value. Subsequent changes in fair value are recognized within earnings.
Fair Value Measurements	Fair Value Measurements General accounting principles for Fair Value Measurements and Disclosures define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. These principles also establish a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value and describes three levels of inputs that may be used to measure fair value: Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities. Active markets are defined as having the following characteristics for the measured asset/liability: (i) many transactions, (ii) current prices, (iii) price quotes not varying substantially among market makers, (iv) narrow bid/ask spreads and (v) most information publicly available. The Company’s Level 1 financial instruments consist primarily of publicly traded equity securities and highly liquid government bonds for which quoted market prices in active markets are available. Level 2 - Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or market standard valuation techniques and assumptions with significant inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Such observable inputs include benchmarking prices for similar assets in active, liquid markets, quoted prices in markets that are not active and observable yields and spreads in the market. The Company’s Level 2 financial instruments include corporate and municipal fixed maturity securities, mortgage-backed non-affiliated common stocks priced using observable inputs. Level 2 inputs include benchmark yields, reported trades, corroborated broker/dealer quotes, issuer spreads and benchmark securities. When non-binding broker quotes can be corroborated by comparison to similar securities priced using observable inputs, they are classified as Level 2. Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the related assets or liabilities. Level 3 assets and liabilities include those whose value is determined using market standard valuation techniques. When observable inputs are not available, the market standard techniques for determining the estimated fair value of certain securities that trade infrequently, and therefore have little transparency, rely on inputs that are significant to the estimated fair value and that are not observable in the market or cannot be derived principally from or corroborated by observable market data. These unobservable inputs can be based in large part on management judgment or estimation and cannot be supported by reference to market activity. Even though unobservable, management believes these inputs are based on assumptions deemed appropriate given the circumstances and consistent with what other market participants would use when pricing similar assets and liabilities. For the Company’s invested assets, this category primarily includes private placements, asset-backed securities, and to a lesser extent, certain residential and commercial mortgage-backed securities, among others. Prices are determined using valuation methodologies such as discounted cash flow models and other similar techniques. Non-binding broker quotes, which are utilized when pricing service information is not available, are reviewed for reasonableness based on the Company’s understanding of the market, and are generally considered Level 3. Under certain circumstances, based on its observations of transactions in active markets, the Company may conclude the prices received from independent third-party pricing services or brokers are not reasonable or reflective of market activity. In those instances, the Company would apply internally developed valuation techniques to the related assets or liabilities. Other than transactions described within Note 3. Business Combinations, the Company did not have any significant nonrecurring fair value measurements of non-financial assets and liabilities in 2017 or 2016. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest 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 financial instrument. The Company may utilize information from third parties, such as pricing services and brokers, to assist in determining the fair value for certain assets and liabilities; however, management is ultimately responsible for all fair values presented in the Company’s financial statements. This includes responsibility for monitoring the fair value process, ensuring objective and reliable valuation practices and pricing of assets and liabilities, and approving changes to valuation methodologies and pricing sources. The selection of the valuation technique(s) to apply considers the definition of an exit price and the nature of the asset or liability being valued and significant expertise and judgment is required.
Accounts Receivable	Accounts Receivable Accounts receivable are stated at amounts due from customers net of an allowance for doubtful accounts. Our allowance for doubtful accounts considers historical experience, the age of certain receivable balances, credit history, current economic conditions and other factors that may affect the counterparty’s ability to pay.
Inventory	Inventory Inventory is valued at the lower of cost or net realizable value under the first-in, first-out method. Provision for obsolescence is made where appropriate and is charged to cost of revenue in the consolidated statements of operations. Short-term work in progress on contracts is stated at cost less foreseeable losses. These costs include only direct labor and expenses incurred to date and exclude any allocation of overhead. The policy for long-term work in progress contracts is disclosed within the Revenue and Cost Recognition accounting policy.
Reinsurance	Reinsurance Premium revenue and benefits are reported net of the amounts related to reinsurance ceded to and assumed from other companies. Expense allowances from reinsurers are included in other operating and general expenses. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability associated with the reinsured policies.
Accounting for Income Taxes	Accounting for Income Taxes We recognize deferred tax assets and liabilities for the expected future tax consequences of transactions and events. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement bases and the tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. If necessary, deferred tax assets are reduced by a valuation allowance to an amount that is determined to be more likely than not recoverable. We must make significant estimates and assumptions about future taxable income and future tax consequences when determining the amount of the valuation allowance. The additional guidance provided by ASC 740, Income Taxes ("ASC 740"), clarifies the accounting for uncertainty in income taxes recognized in the financial statements. Expected outcomes of current or anticipated tax examinations, refund claims and tax-related litigation and estimates regarding additional tax liability (including interest and penalties thereon) or refunds resulting therefrom will be recorded based on the guidance provided by ASC 740 to the extent applicable. At December 31, 2017, our U.S. and foreign companies have significant deferred tax assets resulting from tax loss carryforwards. The foreign deferred tax assets with minor exceptions are fully offset with valuation allowances. Additionally, the deferred tax assets generated by certain businesses that do not qualify to be included in the HC2 U.S. consolidated income tax return have been reduced by a full valuation allowance. Based on consideration of both positive and negative evidence, we determined that it was more likely than not that the net deferred tax assets of the HC2 U.S. consolidated filing group and the Insurance Company's’ will not be realized. Therefore, a full valuation allowance was maintained against the HC2 U.S. consolidated filing group’s and Insurance Company's net deferred tax assets as of December 31, 2017. The appropriateness and amount of these valuation allowances are based on cumulative history of losses and our assumptions about the future taxable income of each affiliate and the timing of the reversal of deferred tax assets and liabilities.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated depreciation, which is provided on the straight-line method over the estimated useful lives of the assets. Cost includes major expenditures for improvements and replacements which extend useful lives or increase capacity of the assets as well as expenditures necessary to place assets into readiness for use. Cost includes the original purchase price of the asset and the costs attributable to bringing the asset to its working condition for its intended use. Cost includes finance costs incurred prior to the asset being available for use. Expenditures for maintenance and repairs are expensed as incurred. Costs for internal use software that are incurred in the preliminary project stage and in the post-implementation stage are expensed as incurred. Costs incurred during the application development stage are capitalized and amortized over the estimated useful life of the software, beginning when the software project is ready for its intended use, over the estimated useful life of the software Depreciation is determined on a straight-line basis over the estimated useful lives of the assets, which range from 5 to 40 years for buildings and leasehold improvements, up to 35 years for cable-ships and submersibles, 3 to 15 years for equipment, furniture and fixtures, and 3 to 20 years for plant and transportation equipment. Plant includes equipment on the cable-ships that is portable and can be moved around the fleet and computer equipment. Leasehold improvements are amortized over the lives of the leases or estimated useful lives of the assets, whichever is shorter. Assets under construction are not depreciated until they are complete and available for use. When assets are sold or otherwise retired, the costs and accumulated depreciation are removed from the books and the resulting gain or loss is included in operating results. Property, plant and equipment that have been included as part of the assets held for sale are no longer depreciated from the time that they are classified as such. The Company periodically evaluates the carrying value of its property, plant and equipment based upon the estimated cash flows to be generated by the related assets. If impairment is indicated, a loss is recognized.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Under ASC 350, Intangibles - Goodwill and Other ("ASC 350"), goodwill and indefinite lived intangible assets are not amortized but are reviewed annually for impairment, or more frequently, if impairment indicators arise. Intangible assets that have finite lives are amortized over their estimated useful lives and are subject to the provisions of ASC 360, Property, plant, and equipment ("ASC 360"). In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. Topic 350, Intangibles - Goodwill and Other (Topic 350), currently requires an entity that has not elected the private company alternative for goodwill to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of the goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. To address concerns over the cost and complexity of the two-step goodwill impairment test, the amendments in this ASU remove the second step of the test. An entity will now apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The Company elected to early adopt ASU 2017-04 effective March 31, 2017, resulting in no impact to the Consolidated Financial Statements. Goodwill impairment is tested at least annually (October 1st) or when factors indicate potential impairment using a two-step process that begins with a qualitative evaluation of each reporting unit. If such test indicates potential for impairment, a one-step quantitative test is performed and if there is excess of a reporting unit's carrying amount over its fair value, impairment is recorded, not to exceed the total amount of goodwill allocated to the reporting unit. Estimating the fair value of a reporting unit requires various assumptions including projections of future cash flows, perpetual growth rates and discount rates. The assumptions about future cash flows and growth rates are based on the Company’s assessment of a number of factors, including the reporting unit’s recent performance against budget, performance in the market that the reporting unit serves, and industry and general economic data from third-party sources. Discount rate assumptions are based on an assessment of the risk inherent in those future cash flows. Changes to the underlying businesses could affect the future cash flows, which in turn could affect the fair value of the reporting unit. Intangible assets not subject to amortization consist of certain licenses. Such indefinite lived intangible assets are tested for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test shall consist of a comparison of the fair value of an intangible asset with its carrying amount. If the carrying amount of the intangible asset exceeds its fair value, an impairment loss shall be recognized in an amount equal to the excess. Intangible assets subject to amortization consists of certain trade names, customer contracts and developed technology. These finite lived intangible assets are amortized based on their estimated useful lives. Such assets are subject to the impairment provisions of ASC 360, wherein impairment is recognized and measured only if there are events and circumstances that indicate that the carrying amount may not be recoverable. The carrying amount is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset group. An impairment loss is recorded if after determining that it is not recoverable, the carrying amount exceeds the fair value of the asset. In addition to the foregoing, the Company reviews its goodwill and intangible assets for possible impairment whenever events or circumstances indicate that the carrying amounts of assets may not be recoverable. The factors that the Company considers important, and which could trigger an impairment review, include, but are not limited to: a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit; a significant decline in the market value of our common stock or debt securities for a sustained period; a material adverse change in economic, financial market, industry or sector trends; a material failure to achieve operating results relative to historical levels or projected future levels; and significant changes in operations or business strategy. Active License Holdings. As of December 31, 2017, Broadcasting and its subsidiaries held 294 Active television broadcast licenses issued by the FCC, which are included in Intangibles, net in the consolidated financial statements
Valuation of Long-lived Assets	Valuation of Long-lived Assets The Company reviews long-lived assets for impairment whenever events or changes indicate that the carrying amount of an asset may not be recoverable. In making such evaluations, the Company compares the expected undiscounted future cash flows to the carrying amount of the assets. If the total of the expected undiscounted future cash flows is less than the carrying amount of the assets, the Company is required to make estimates of the fair value of the long-lived assets in order to calculate the impairment loss equal to the difference between the fair value and carrying value of the assets. The Company makes significant assumptions and estimates in this process regarding matters that are inherently uncertain, such as determining asset groups and estimating future cash flows, remaining useful lives, discount rates and growth rates. The resulting undiscounted cash flows are projected over an extended period of time, which subjects those assumptions and estimates to an even larger degree of uncertainty. While the Company believes that its estimates are reasonable, different assumptions could materially affect the valuation of the long-lived assets. The Company derives future cash flow estimates from its historical experience and its internal business plans, which include consideration of industry trends, competitive actions, technology changes, regulatory actions, available financial resources for marketing and capital expenditures and changes in its underlying cost structure. The Company makes assumptions about the remaining useful life of its long-lived assets. The assumptions are based on the average life of its historical capital asset additions and its historical asset purchase trend. In some cases, due to the nature of a particular industry in which the company operates, the Company may assume that technology changes in such industry render all associated assets, including equipment, obsolete with no salvage value after their useful lives. In certain circumstances in which the underlying assets could be leased for an additional period of time or salvaged, the Company includes such estimated cash flows in its estimate. The estimate of the appropriate discount rate to be used to apply the present value technique in determining fair value was the Company’s weighted average cost of capital which is based on the effective rate of its debt obligations at the current market values (for periods during which the Company had debt obligations) as well as the current volatility and trading value of the Company’s common stock.
Value of Business Acquired VOBA	Value of Business Acquired ("VOBA") VOBA is a liability 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. A VOBA liability (negative asset) occurs when the estimated fair value of in-force contracts in a life insurance company acquisition is less than the amount recorded as insurance contract liabilities. Amortization is based on assumptions consistent with those used in the development of the underlying contract adjusted for emerging experience and expected trends. VOBA amortization are reported within depreciation and amortization in the accompanying consolidated statements of operations. The VOBA balance is 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.
Annuity Benefits Accumulated	Annuity Benefits Accumulated Annuity receipts and benefit payments are recorded as increases or decreases in annuity benefits accumulated rather than as revenue and expense. Increases in this liability (primarily interest credited) are charged to expense and decreases for charges are credited to annuity policy charges revenue. Reserves for traditional fixed annuities are generally recorded at the stated account value.
Life, Accident and Health Reserves	Life, Accident and Health Reserves Liabilities for future policy benefits under traditional life, accident and health policies are computed using the net level premium method. Computations are based on the original projections of investment yields, mortality, morbidity and surrenders and include provisions for unfavorable deviations unless a loss recognition event (premium deficiency) occurs. Claim reserves and liabilities established for accident and health claims are modified as necessary to reflect actual experience and developing trends. For long-duration contracts (such as traditional life and long-term care insurance policies), loss recognition occurs when, based on current expectations as of the measurement date, existing contract liabilities plus the present value of future premiums (including reasonably expected rate increases) are not expected to cover the present value of future claims payments and related settlement and maintenance costs (excluding overhead) as well as unamortized acquisition costs. If a block of business is determined to be in loss recognition, a charge is recorded in earnings in an amount equal to the excess of the present value of expected future claims costs and unamortized acquisition costs over existing reserves plus the present value of expected future premiums (with no provision for adverse deviation). The charge is recorded as an additional reserve (if unamortized acquisition costs have been eliminated). In addition, reserves for traditional life and long-term care insurance policies are subject to adjustment for loss recognition charges that would have been recorded if the unrealized gains from securities had actually been realized. This adjustment is included in unrealized gains (losses) on marketable securities, a component of AOCI.
Presentation of Taxes Collected	Presentation of Taxes Collected The Company reports a value-added tax assessed by a governmental authority that is directly imposed on a revenue-producing transaction between the Company and a customer on a net basis (excluded from revenues).
Foreign Currency Transactions and Translation	Foreign Currency Transactions Foreign currency transactions are transactions denominated in a currency other than a subsidiary’s functional currency. A change in the exchange rates between a subsidiary’s functional currency and the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction. That increase or decrease in expected functional currency cash flows is reported by the Company as a foreign currency transaction gain (loss). The primary component of the Company’s foreign currency transaction gain (loss) is due to agreements in place with certain subsidiaries in foreign countries regarding intercompany transactions. The Company anticipates repayment of these transactions in the foreseeable future, and recognizes the realized and unrealized gains or losses on these transactions that result from foreign currency changes in the period in which they occur as foreign currency transaction gain (loss). Foreign Currency Translation The assets and liabilities of the Company’s foreign subsidiaries are translated at the exchange rates in effect on the reporting date. Income and expenses are translated at the average exchange rate during the period. The net effect of such translation gains and losses are reflected within AOCI in the stockholders’ equity section of the consolidated balance sheets.
Deferred Financing Costs	Deferred Financing Costs The Company capitalizes certain expenses incurred in connection with its debt and line of credit obligations and amortizes them over the term of the respective debt agreement. The amortization expense of the deferred financing costs is included in interest expense on the consolidated statements of operations. If the Company extinguishes portions of its debt prior to the maturity date, deferred financing costs are charged to expense on a pro-rata basis and are included in loss on early extinguishment or restructuring of debt on the consolidated statements of operations. Subsequent to our early adoption of ASU 2015-03, Interest - Imputation of Interest (Subtopic 835-30) (see "New Accounting Pronouncements") effective on December 31, 2015, we reclassified our deferred financing costs to debt obligations and aggregate them with the original issue discount on the consolidated balance sheets. Previously the Company's deferred financing costs had been included in other assets
Use of Estimates and Assumptions	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions. These estimates and assumptions affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of net revenue and expenses during the reporting period. Actual results may differ from these estimates. Significant estimates include allowance for doubtful accounts receivable, the extent of progress towards completion on contracts, contract revenue and costs on long-term contracts, valuation of certain investments and the insurance reserves, market assumptions used in estimating the fair values of certain assets and liabilities, the calculation used in determining the fair value of HC2’s stock options required by ASC 718, Compensation - Stock Compensation ("ASC 718"), income taxes and various other contingencies. Estimates of fair value represent the Company’s best estimates developed with the assistance of independent appraisals or various valuation techniques and, where the foregoing have not yet been completed or are not available, industry data and trends and by reference to relevant market rates and transactions. The estimates and assumptions are inherently subject to significant uncertainties and contingencies beyond the control of the Company. Accordingly, the Company cannot provide assurance that the estimates, assumptions, and values reflected in the valuations will be realized, and actual results could vary materially.
Revenue and Cost Recognition	Revenue and Cost Recognition DBMG DBMG performs its services primarily under fixed-price contracts and recognizes revenues and costs from construction projects using the percentage of completion method. Under this method, revenue is recognized based upon either the ratio of the costs incurred to date to the total estimated costs to complete the project or the ratio of tons fabricated to date to total estimated tons. Revenue recognition begins when work has commenced. Costs include all direct material and labor costs related to contract performance, subcontractor costs, indirect labor, and fabrication plant overhead costs, which are charged to contract costs as incurred. Revenues relating to changes in the scope of a contract are recognized when the Company and customer or general contractor have agreed on both the scope and price of changes, the work has commenced, it is probable that the costs of the changes will be recovered and that realization of revenue exceeding the costs is assured beyond a reasonable doubt. Revisions in estimates during the course of contract work are reflected in the accounting period in which the facts requiring the revision become known. Provisions for estimated losses on uncompleted contracts are made in the period a loss on a contract becomes determinable. Construction contracts with customers generally provide that billings are to be made monthly in amounts which are commensurate with the extent of performance under the contracts. Contract receivables arise principally from the balance of amounts due on progress billings on jobs under construction. Retentions on contract receivables are amounts due on progress billings, which are withheld until the completed project has been accepted by the customer. Costs and recognized earnings in excess of billings on uncompleted contracts primarily represent revenue earned under the percentage of completion method which has not been billed. Billings in excess of related costs and recognized earnings on uncompleted contracts represent amounts billed on contracts in excess of the revenue allowed to be recognized under the percentage of completion method on those contracts. GMSL GMSL generates revenue by providing maintenance services for subsea telecommunications cabling. GMSL also generates revenues from the design and installation of subsea cables under contracts. GMSL also provides installation, maintenance and repair of fiber optic communication and power infrastructure to offshore oil and gas platforms and installs inter-array power cables for use in offshore wind farms and in the offshore wind market. Telecommunication/Maintenance GMSL provides vessels on standby to repair fiber optic telecommunications cables in defined geographic zones, and its maintenance business is provided through contracts with consortia of approximately 60 global telecommunications providers. Typically, GMSL enters into five to seven years contracts to provide maintenance to cable systems that are located in specific geographical areas. Revenue from these maintenance agreements is recognized on a straight line basis unless the pattern of costs associated with repairs indicates otherwise. Telecommunications/Installation GMSL provides installation of cable systems including route planning, mapping, route engineering, cable laying, and trenching and burial. GMSL’s installation business is project-based with fixed price contracts typically lasting one to five months. Revenue is recognized on a time apportioned basis over the length of installation. Charter hire Rentals from short-term operating leases in respect of vessels are recognized as revenue on a straight line basis over the term of the lease. Oil and Gas GMSL provides installation, maintenance and repair of fiber optic communication and power infrastructure to offshore platforms. Its primary activities include providing power from shore, enabling fiber-based communication between platforms and shore-based systems and installing permanent reservoir monitoring systems which allow customers to monitor subsea seismic data. The majority of GMSL’s oil and gas business is contracted on a project-by-project basis with major energy producers or tier I engineering, procurement and construction (EPC) contractors. Revenue is recognized as time and costs are incurred. A loss is recognized immediately if the expected costs during any contract exceed expected revenues. Amounts billed in advance of revenue recognition are recorded as deferred revenue. Insurance Unearned premiums represent that portion of premiums written, which is applicable to the unexpired terms of policies in force. On reinsurance assumed from other insurance companies or written through various underwriting organizations, unearned premiums are based on information received from such companies and organizations. For traditional life, accident and health products, premiums are recognized as revenue when legally collectible from policyholders. For interest-sensitive life and universal life products, premiums are recorded in a policyholder account, which is reflected as a liability. Revenue is recognized as amounts are assessed against the policyholder account for mortality coverage and contract expenses. ICS Net revenue is derived from carrying a mix of business, residential and carrier long-distance traffic, data and Internet traffic. For certain voice services, net revenue is earned based on the number of minutes during a call, and is recorded upon completion of a call. Revenue for a period is calculated from information received through the Company’s network switches. Customized software has been designed to track the information from the switch and analyze the call detail records against stored detailed information about revenue rates. This software provides the Company the ability to do a timely and accurate analysis of revenue earned in a period. Net revenue represents gross revenue, net of allowance for doubtful accounts receivable, service credits and service adjustments. Cost of revenue includes network costs that consist of access, transport and termination costs. The majority of the Company’s cost of revenue is variable, primarily based upon minutes of use, with transmission and termination costs being the most significant expense.
Pensions	Pensions GMSL operates various pension schemes comprising both defined benefit plans and defined contribution plans. GMSL also makes contributions on behalf of employees who are members of the Merchant Navy Officers Pension Fund ("MNOPF"). For the defined benefit plans and the MNOPF plan, the amounts charged to income (loss) from operations are the current service costs and the gains and losses on settlements and curtailments. These are included as part of staff costs. Past service costs are recognized immediately if the benefits have vested. If the benefits have not vested immediately, the costs are recognized over the period vesting occurs. The interest costs and expected return of assets are shown as a net amount and included in interest income and other income (expense). Actuarial gains and losses are recognized immediately in the consolidated statements of operations. Defined benefit plans are funded with the assets of the plan held separately from those of GMSL, in separate trustee administered funds. Pension plan assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method discounted at a rate of equivalent currency and term to the plan liabilities. The actuarial valuations are obtained annually. For the defined contribution plans, the amount charged to income (loss) from operations in respect of pension costs is the contributions payable in the period. Differences between contributions payable in the period and contributions actually paid are shown as either accruals or prepayments in the consolidated balance sheets.
Share-Based Compensation	Share-Based Compensation The Company accounts for share-based compensation issued to employees in accordance with the provisions of ASC 718 and to non-employees pursuant to ASC 505-50, Equity-based payments to non-employees. All transactions in which goods or services are the consideration received for the issuance of equity instruments are accounted for using a fair-value based method. The Company records share-based compensation expense for all new and unvested stock options that are ultimately expected to vest as the requisite service is rendered. The Company issues new shares of common stock upon the exercise of stock options. The Company elected to adopt the alternative transition method for calculating the tax effects of share-based compensation. The alternative transition method includes simplified methods to determine the beginning balance of the APIC pool related to the tax effects of share-based compensation and to determine the subsequent impact on the APIC pool and the statement of cash flows of the tax effects of share-based awards that were fully vested and outstanding upon the adoption of ASC 718. The Company uses a Black-Scholes option valuation model to determine the grant date fair value of share-based compensation under ASC 718. The Black-Scholes model incorporates various assumptions including the expected term of awards, volatility of stock price, risk-free rates of return and dividend yield. The expected term of an award is no less than the option vesting period and is based on the Company’s historical experience. Expected volatility is based upon the historical volatility of the Company’s stock price. The risk-free interest rate is approximated using rates available on U.S. Treasury securities with a remaining term similar to the option’s expected life. The Company uses a dividend yield of zero in the Black-Scholes option valuation model as it does not anticipate paying cash dividends in the foreseeable future that do not contain anti-dilution provisions requiring the adjustment of exercise prices and option shares. Share-based compensation is recorded net of expected forfeitures.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk principally consist of trade accounts receivable. The Company performs ongoing credit evaluations of its customers but generally does not require collateral to support customer receivables. The Company maintains its cash with high quality credit institutions, and its cash equivalents are in high quality securities.
Income (Loss) Per Common Share	Income (Loss) Per Common Share Basic income (loss) per common share is computed using the weighted average number of shares of common stock outstanding during the period. Diluted income (loss) per common share is computed using the weighted average number of shares of common stock, adjusted for the dilutive effect of potential common stock and related income from continuing operations, net of tax. Potential common stock, computed using the treasury stock method or the if-converted method, includes options, warrants, restricted stock, restricted stock units and convertible preferred stock. In periods when the Company generates income, the Company calculates basic Earnings Per Share ("EPS") using the two-class method, pursuant to ASC No. 260, Earnings Per Share. The two-class method is required as the shares of the Company’s preferred stock qualify as participating securities, having the right to receive dividends should dividends be declared on common stock. Under this method, earnings for the period are allocated to the common stock and preferred stock to the extent that each security may share in earnings as if all of the earnings for the period had been distributed. The Company does not use the two-class method in periods when it generates a loss as the holders of the preferred stock do not participate in losses.
Reclassification	Reclassification Certain previous year amounts have been reclassified to conform with current year presentations, as related to the reporting of new balance sheet line items.
Adjustments, Accounting Pronouncements, Early Adopted During the Fiscal Year, to be Adopted Subsequently	Adjustments During the second quarter of 2016, the Company identified an immaterial error in its calculation of depreciation expense for the twelve months ended December 31, 2015 and 2014 and the three months ended March 31, 2016 related to purchase accounting associated with the acquisition of DBMG in May 2014. This resulted in an excess depreciation expense being recorded in each of the periods noted. In addition, certain gains and losses on assets that were disposed of by DBMG were incorrectly recorded during the same periods as a result of these adjustments. The net impact of these adjustments to net income would have been an increase of $0.7 million and a decrease of $0.2 million for the twelve months ended December 31, 2015 and 2014, respectively, and an increase of $0.8 million for the year ended December 31, 2016. The Company determined to correct the cumulative effect of these adjustments in the second quarter of 2016, which resulted in a net adjustment to net income (loss) attributable to common and participating preferred stockholders for the year ended December 31, 2016 of $1.3 million. Accounting Pronouncements The Company has implemented all new accounting pronouncements that are in effect and that may impact its Consolidated Financial Statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial condition, results of operations or liquidity. Accounting Pronouncements Early Adopted During the Fiscal Year Testing for Goodwill Impairment In January 2017, the FASB issued Accounting Standards Updates ("ASU") 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. Topic 350, Intangibles - Goodwill and Other (Topic 350), currently requires an entity that has not elected the private company alternative for goodwill to perform a two-step test to determine the amount, if any, of goodwill impairment. In Step 1, an entity compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, the entity performs Step 2 and compares the implied fair value of goodwill with the carrying amount of the goodwill for that reporting unit. An impairment charge equal to the amount by which the carrying amount of goodwill for the reporting unit exceeds the implied fair value of that goodwill is recorded, limited to the amount of goodwill allocated to that reporting unit. To address concerns over the cost and complexity of the two-step goodwill impairment test, the amendments in this ASU remove the second step of the test. An entity will now apply a one-step quantitative test and record the amount of goodwill impairment as the excess of a reporting unit's carrying amount over its fair value, not to exceed the total amount of goodwill allocated to the reporting unit. The new guidance does not amend the optional qualitative assessment of goodwill impairment. The Company elected to early adopt ASU 2017-04 effective March 31, 2017, resulting in no impact to the Consolidated Financial Statements. New Accounting Pronouncements to be Adopted Subsequent to December 31, 2017 Reporting Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from AOCI. The new guidance is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years and should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate or law in U.S. Tax Reform is recognized. Early adoption is permitted. Current GAAP guidance requires that the effect of a change in tax laws or rates on deferred tax liabilities or assets to be included in income from continuing operations in the reporting period that includes the enactment date, even if the related income tax effects were originally charged or credited directly to AOCI. The new guidance allows a reclassification of AOCI to retained earnings for stranded tax effects resulting from U.S. Tax Reform. Also, the new guidance requires certain disclosures about stranded tax effects. The Company is currently in the process of evaluating the impact of this guidance on our consolidated financial statements and expects minimal impact. Accounting for Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The guidance requires financial assets measured at amortized cost basis to be presented at the net amount expected to be collected by deducting an allowance for credit losses from the amortized cost basis of the financial assets. For available-for-sale debt securities, the new guidance aligns the income statement recognition of credit losses with the reporting period in which changes occur by recording credit losses through an allowance rather than a write-down and allowing subsequent reversals in credit loss estimates to be recognized in current income. The measurement of expected credit losses will be based on historical experience, current conditions and reasonable and supportable forecasts. An entity must use judgment in determining the relevant information and estimation methods that are appropriate in its circumstances. This ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The guidance should be applied through a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is effective. For certain assets, a prospective transition approach is required. The Company expects to adopt this ASU in its Consolidated Financial Statements beginning January 1, 2020 and is currently unable to quantify the impact of adopting this guidance. The ultimate impact will depend on the Company’s investment portfolio at the time the new standard is adopted. Accounting for Leases In February 2016, the FASB issued ASU 2016-02, Leases. The new standard establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The new standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the consolidated financial statements, with certain practical expedients available. The Company has started evaluating its lease arrangements to determine the impact of this amendment on the financial statements. The evaluation includes an extensive review of the leases, which are primarily related to our vessels and office space. Additionally, the Company has begun tracking separate accounting records for leases entered into starting January 1, 2017 under the new guidance to facilitate future implementation. In January 2018, the FASB issued ASU 2018-01, Leases (Topic 842) - Land Easement Practical Expedient for Transition to Topic 842, which provides an optional transition practical expedient to not evaluate under Topic 842 existing or expired land easements that were not previously accounted for as leases under the current leases guidance in Topic 840. The effective date and transition requirements for ASU 2018-01 are the same as ASU 2016-02. Early adoption is permitted. The Company expects to adopt this and related ASUs in its Consolidated Financial Statements beginning January 1, 2019 and is currently in the process of evaluating the impact of this guidance on its consolidated financial statements. The ultimate impact will depend on the Company’s lease portfolio at the time the new standard is adopted. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued ASU 2016-01, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, as amended by ASU 2018-03, Financial Instruments-Overall: Technical Corrections and Improvements, issued in February 2018 on the recognition and measurement of financial instruments. The new guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted for the instrument-specific credit risk provision. The new guidance changes the current accounting guidance related to (i) the classification and measurement of certain equity investments, (ii) the presentation of changes in the fair value of financial liabilities measured under the fair value option that are due to instrument-specific credit risk, and (iii) certain disclosures associated with the fair value of financial instruments. Additionally, there will no longer be a requirement to assess equity securities for impairment since such securities will be measured at fair value through net income. The Company has assessed the population of financial instruments that are subject to the new guidance and has determined that the most significant impact will be the requirement to report changes in fair value in net income each reporting period for all equity securities currently classified as available for sale. The Company utilized a modified retrospective approach to adopt the new guidance effective January 1, 2018. The expected impact related to the change in accounting for equity securities will be approximately $1.1 million of net unrealized investment gains, net of income tax, which will be reclassified from AOCI to retained earnings. Revenue Recognition In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This ASU supersedes the revenue recognition requirements in Revenue Recognition (Topic 605). Under the new guidance, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal Versus Agent Considerations, which clarifies the guidance in ASU 2014-09. In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, an update on identifying performance obligations and accounting for licenses of intellectual property. In May 2016, the FASB issued ASU 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, which includes amendments for enhanced clarification of the guidance. In December 2016, the FASB issued ASU 2016-20, Technical Corrections and Improvements to Revenue from Contracts with Customers (Topic 606), which includes amendments of a similar nature to the items typically addressed in the technical corrections and improvements project. Lastly, in February 2017, the FASB issued ASU 2017-05, clarifying the scope of asset derecognition guidance and accounting for partial sales of nonfinancial assets to clarify the scope of ASC 610-20, Other Income - Gains and Losses from Derecognition of Nonfinancial Assets, and provide guidance on partial sales of nonfinancial assets. This ASU clarifies that the unit of account under ASU 610-20 is each distinct nonfinancial or in substance nonfinancial asset and that a financial asset that meets the definition of an "in substance nonfinancial asset" is within the scope of ASC 610-20. This ASU eliminates rules specifically addressing sales of real estate and removes exceptions to the financial asset derecognition model. The ASUs described above are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company adopted the new standard effective January 1, 2018 using the modified retrospective approach, which requires applying the new standard to all existing contracts not yet completed as of the effective date and recording a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. We have completed our evaluation of the standard’s impact on our revenue streams, including updating internal controls and the related qualitative disclosures regarding the potential impact of the effects of the accounting policies and a comparison to the Company’s current revenue recognition policies. While not material to the Company, the adoption of ASU 2014-09 will have an impact on 704Games' results of operations. As the Company is adopting ASU 2014-09 utilizing the modified retrospective approach, the Company will recognize previously deferred revenue in retained earnings on January 1, 2018, and going forward, software revenues, which were previously deferred, will be recognized upon sale to the customer. The adoption of this standard did not have a material impact on our consolidated financial statements as of the adoption date. The Company expects to expand its qualitative disclosures within the notes to the consolidated financial statements. Instruments with down round feature In July 2017, the FASB issued ASU 2017-11 Earnings Per Share (Topic 260) Distinguishing Liabilities from Equity (Topic 480) Derivatives and Hedging (Topic 815), which changes the classification analysis of certain equity-linked financial instruments (or embedded features) with down round features. When determining whether certain financial instruments should be classified as liabilities or equity instruments, a down round feature no longer precludes equity classification when assessing whether the instrument is indexed to an entity’s own stock. ASU 2017-11 also clarifies existing disclosure requirements for equity-classified instruments. As a result, a freestanding equity-linked financial instrument (or embedded conversion option) no longer would be accounted for as a derivative liability at fair value as a result of the existence of a down round feature. For freestanding equity classified financial instruments, ASU 2017-11 requires entities that present EPS in accordance with ASC Topic 260 to recognize the effect of the down round feature when it is triggered. That effect is treated as a dividend and as a reduction of income available to common shareholders in basic EPS. For the Company, ASU 2017-11 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the implementation date and the impact of this amendment on its financial statements.

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

Fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed, intangibles, and residual goodwill are summarized as follows (in thousands):



	December 31,
Purchase price allocation	2017			2016
Cash and cash equivalents	$	2,212		$	1,188
Accounts receivable	—			6,397
Property, plant and equipment	73,320			28,273
Goodwill	11,783			1,334
Intangibles	—			690
Other assets	596			2,542
Total assets acquired	87,911			40,424
Accounts payable and other current liabilities	(676		)	(10,891		)
Deferred tax liability	—			(123		)
Debt obligations	—			(20,813		)
Noncontrolling interest	—			(815		)
Total liabilities assumed	(676		)	(32,642		)
Total net assets acquired	$	87,235		$	7,782

During the year ended December 31, 2017, Broadcasting and its subsidiaries completed a series of transactions for a total consideration of $91.2 million (in thousands):



	DTV		Mako		Azteca		Other		Total
Cash	$	13,467	$	18,192	$	—	$	12,104	$	43,763
Accounts payable	—		—		33,000		—		33,000
Equity	—		4,994		—		—		4,994
Debt obligations	2,405		5,250		—		—		7,655
Fair value of previously held interest	1,780		—		—		—		1,780
Fair value of consideration	$	17,652	$	28,436	$	33,000	$	12,104	$	91,192

The following table summarizes the allocation of the purchase price to the fair value of identifiable assets acquired, liabilities assumed, intangibles and residual goodwill (in thousands):



	December 31,
Purchase price allocation	2017			2016
Cash and cash equivalents	$	61		$	1,775
Restricted cash	—			3
Accounts receivable	9,134			3
Property, plant and equipment	12,097			1,623
Goodwill	20,678			4,207
Intangibles	81,016			6,392
Other assets	1,290			37
Total assets acquired	124,276			14,040
Accounts payable and other current liabilities	(8,036		)	(289		)
Deferred tax liability	(6,072		)	(2,696		)
Debt obligations	(4,480		)	—
Other liabilities	—			(3		)
Total liabilities assumed	(18,588		)	(2,988		)
Enterprise value	105,688			11,052
Less fair value of noncontrolling interest	14,496			3,889
Total net assets acquired	$	91,192		$	7,163

Fair value of consideration transferred and its allocation among the identified assets acquired, liabilities assumed, intangibles and residual goodwill are summarized as follows (in thousands):



	December 31,
Purchase price allocation	2017			2016
Cash and cash equivalents	$	—		$	621
Accounts receivable	448			5,558
Property, plant and equipment	12,730			8,043
Goodwill	2,290			11,827
Intangibles	1,608			3,955
Other assets	909			2,895
Total assets acquired	17,985			32,899
Accounts payable and other current liabilities	(28		)	(5,924		)
Deferred tax liability	—			(169		)
Other liabilities	(167		)	(1,302		)
Total liabilities assumed	(195		)	(7,395		)
Total net assets acquired	$	17,790		$	25,504

For the two transactions accounted for as asset acquisitions the preliminary fair value of consideration transferred was preliminarily allocated based on the relative fair value (in thousands):



Purchase price allocation	December 31, 2016
Accounts receivable	$	1,303
Property, plant and equipment, net	40,758
Goodwill	748
Intangibles	4,984
Other assets	79
Total assets acquired	47,872
Accounts payable and other current liabilities	(897		)
Deferred tax liability	(4,578		)
Total liabilities assumed	(5,475		)
Bargain purchase gain	(340		)
Total net assets acquired	$	42,057

Acquired Intangible Assets

The following table summarizes acquired intangible assets (in thousands):



	December 31,
	2017		2016
FCC licenses	$	76,490	$	—
Developed technology	—		6,392
Trade name	208		—
Other	4,318		—
Total intangibles	$	81,016	$	6,392

Business Acquisition, Pro Forma Information



	Years Ended December 31,
	2017			2016
Net revenue	$	1,674,688		$	1,596,275
Net income (loss) from continuing operations	$	(41,098	)	$	(69,230	)
Net income (loss) attributable to HC2 Holdings, Inc.	$	(48,256	)	$	(118,235	)

Investments (Tables)

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of Fixed Maturity and Equity Securities Available-for-Sale

The following tables provide information relating to investments in fixed maturity and equity securities (in thousands):



December 31, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Fixed maturity securities
U.S. Government and government agencies	$	15,283	$	470	$	(31	)	$	15,722
States, municipalities and political subdivisions	377,549		18,953		(1,052		)	395,450
Foreign government	6,331		—		(333		)	5,998
Residential mortgage-backed securities	101,974		4,185		(1,264		)	104,895
Commercial mortgage-backed securities	30,152		269		(16		)	30,405
Asset-backed securities	145,479		2,610		(163		)	147,926
Corporate and other	589,803		51,891		(1,464		)	640,230
Total fixed maturity securities	$	1,266,571	$	78,378	$	(4,323	)	$	1,340,626
Equity securities
Common stocks	$	4,938	$	116	$	(126	)	$	4,928
Perpetual preferred stocks	40,902		1,735		(65		)	42,572
Total equity securities	$	45,840	$	1,851	$	(191	)	$	47,500



December 31, 2016	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Fixed maturity securities
U.S. Government and government agencies	$	15,910	$	135	$	(95	)	$	15,950
States, municipalities and political subdivisions	374,527		4,408		(3,858		)	375,077
Foreign government	6,380		—		(402		)	5,978
Residential mortgage-backed securities	136,126		2,634		(564		)	138,196
Commercial mortgage-backed securities	48,715		427		(89		)	49,053
Asset-backed securities	76,303		1,934		(572		)	77,665
Corporate and other	600,458		23,635		(7,054		)	617,039
Total fixed maturity securities	$	1,258,419	$	33,173	$	(12,634	)	$	1,278,958
Equity securities
Common stocks	$	16,236	$	—	$	(1,371	)	$	14,865
Perpetual preferred stocks	37,041		191		(578		)	36,654
Total equity securities	$	53,277	$	191	$	(1,949	)	$	51,519

Schedule of Maturities of Fixed Maturity Securities Available-for-Sale



	Amortized Cost		Fair Value
Corporate, Municipal, U.S. Government and Other securities
Due in one year or less	$	19,306	$	19,017
Due after one year through five years	103,803		106,178
Due after five years through ten years	153,927		159,615
Due after ten years	711,930		772,590
Subtotal	988,966		1,057,400
Mortgage-backed securities	132,126		135,300
Asset-backed securities	145,479		147,926
Total	$	1,266,571	$	1,340,626

Schedule of Major Industry Types of Fixed Maturity Holdings

The tables below show the major industry types of the Company’s corporate and other fixed maturity securities (in thousands):



	December 31, 2017						December 31, 2016
	Amortized Cost		Fair Value		% of Total		Amortized Cost		Fair Value		% of Total
Finance, insurance, and real estate	$	191,234	$	203,735	31.8	%	$	214,911	$	211,834	34.3	%
Transportation, communication and other services	186,114		201,802		31.5	%	180,647		189,163		30.7	%
Manufacturing	100,942		111,391		17.4	%	112,644		118,440		19.2	%
Other	111,513		123,302		19.3	%	92,256		97,602		15.8	%
Total	$	589,803	$	640,230	100.0	%	$	600,458	$	617,039	100.0	%

Other than Temporary Impairment, Credit Losses Recognized in Earnings

Any remaining difference between the fair value and amortized cost is recognized in AOCI. The Company recorded the following (in thousands):



	Years Ended December 31,
	2017		2016		2015
Net realized gains (losses) on investments	$	—	$	163	$	—
Other expenses, net	6,550		2,451		—
Total Other-Than-Temporary Impairments	$	6,550	$	2,614	$	—

Schedule of Unrealized Losses for Fixed Maturities and Equity Securities



	December 31, 2017					December 31, 2016					December 31, 2015
	Unrealized Losses			% of Total		Unrealized Losses			% of Total		Unrealized Losses			% of Total
Fixed maturity and equity securities
Less than 20%	$	(4,230	)	93.7	%	$	(10,069	)	69.0	%	$	(5,667	)	52.2	%
20% or more for less than six months	(174		)	3.9	%	(482		)	3.3	%	—			—	%
20% or more for six months or greater	(110		)	2.4	%	(4,032		)	27.7	%	(5,198		)	47.8	%
Total	$	(4,514	)	100.0	%	$	(14,583	)	100.0	%	$	(10,865	)	100.0	%

Schedule of Estimated Fair Value and Gross Unrealized Loss



December 31, 2017	Less than 12 months					12 months of greater					Total
December 31, 2017	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed maturity securities
U.S. Government and government agencies	$	5,044	$	(17	)	$	2,199	$	(14	)	$	7,243	$	(31	)
States, municipalities and political subdivisions	32,939		(834		)	10,757		(218		)	43,696		(1,052		)
Foreign government	—		—			5,999		(333		)	5,999		(333		)
Residential mortgage-backed securities	5,139		(546		)	16,150		(718		)	21,289		(1,264		)
Commercial mortgage-backed securities	5,053		(12		)	1,003		(4		)	6,056		(16		)
Asset-backed securities	19,771		(64		)	3,963		(99		)	23,734		(163		)
Corporate and other	18,478		(824		)	19,433		(640		)	37,911		(1,464		)
Total fixed maturity securities	$	86,424	$	(2,297	)	$	59,504	$	(2,026	)	$	145,928	$	(4,323	)
Equity securities
Common stocks	$	1,057	$	(126	)	$	—	$	—		$	1,057	$	(126	)
Perpetual preferred stocks	1,614		(13		)	1,048		(52		)	2,662		(65		)
Total equity securities	$	2,671	$	(139	)	$	1,048	$	(52	)	$	3,719	$	(191	)



December 31, 2016	Less than 12 months					12 months of greater					Total
December 31, 2016	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Fixed maturity securities
U.S. Government and government agencies	$	4,392	$	(95	)	$	—	$	—		$	4,392	$	(95	)
States, municipalities and political subdivisions	207,740		(3,858		)	—		—			207,740		(3,858		)
Foreign government	5,978		(402		)	—		—			5,978		(402		)
Residential mortgage-backed securities	54,385		(564		)	—		—			54,385		(564		)
Commercial mortgage-backed securities	13,159		(89		)	—		—			13,159		(89		)
Asset-backed securities	12,443		(572		)	—		—			12,443		(572		)
Corporate and other	147,653		(3,022		)	3,579		(4,032		)	151,232		(7,054		)
Total fixed maturity securities	$	445,750	$	(8,602	)	$	3,579	$	(4,032	)	$	449,329	$	(12,634	)
Equity securities
Common stocks	$	14,585	$	(1,371	)	$	—	$	—		$	14,585	$	(1,371	)
Perpetual preferred stocks	20,464		(578		)	—		—			20,464		(578		)
Total equity securities	$	35,049	$	(1,949	)	$	—	$	—		$	35,049	$	(1,949	)



December 31, 2015	Less than 12 months					12 months of greater				Total
December 31, 2015	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Fixed maturity securities
U.S. Government and government agencies	$	15,409	$	(49	)	$	—	$	—	$	15,409	$	(49	)
States, municipalities and political subdivisions	294,105		(1,227		)	—		—		294,105		(1,227		)
Residential mortgage-backed securities	77,695		(588		)	—		—		77,695		(588		)
Commercial mortgage-backed securities	44,618		(96		)	—		—		44,618		(96		)
Asset-backed securities	22,550		(51		)	—		—		22,550		(51		)
Corporate and other	466,293		(7,537		)	—		—		466,293		(7,537		)
Total fixed maturity securities	$	920,670	$	(9,548	)	$	—	$	—	$	920,670	$	(9,548	)
Equity securities
Common stocks	$	13,657	$	(1,311	)	$	—	$	—	$	13,657	$	(1,311	)
Perpetual preferred stocks	7,378		(6		)	—		—		7,378		(6		)
Total equity securities	$	21,035	$	(1,317	)	$	—	$	—	$	21,035	$	(1,317	)

Schedule of Other Invested Assets

Carrying values of other invested assets accounted for under cost and equity method are as follows (in thousands):



	December 31, 2017						December 31, 2016
	Cost Method		Equity Method		Fair Value		Cost Method		Equity Method		Fair Value
Common Equity	$	—	$	1,484	$	—	$	138	$	1,047	$	—
Preferred Equity	2,484		14,197		—		2,484		9,971		—
Derivatives	422		—		260		3,097		—		3,813
Limited Partnerships	—		—		—		—		1,116		—
Joint Ventures	—		66,572		—		—		40,697		—
Total	$	2,906	$	82,253	$	260	$	5,719	$	52,831	$	3,813

Summarized Information for Equity Method Investments



	Years Ended December 31,
	2017			2016			2015
Net revenue	$	481,528		$	558,180		$	502,122
Gross profit	$	122,103		$	164,853		$	103,236
Income (loss) from continuing operations	$	7,597		$	51,690		$	(18,743	)
Net income (loss)	$	(17,530	)	$	(11,123	)	$	(36,873	)

Current assets	$	357,329		$	285,466		$	256,372
Noncurrent assets	$	188,319		$	278,766		$	219,434
Current liabilities	$	227,229		$	184,068		$	169,002
Noncurrent liabilities	$	161,014		$	131,587		$	132,934

Net Investment Income

The major sources of net investment income were as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Fixed maturity securities, available-for-sale at fair value	$	59,403		$	54,685		$	964
Equity securities, available-for-sale at fair value	2,620			2,263			93
Mortgage loans	2,474			491			—
Policy loans	1,150			1,173			18
Other invested assets	628			321			—
Gross investment income	66,275			58,933			1,075
External investment expense	(205		)	(901		)	(44		)
Net investment income	$	66,070		$	58,032		$	1,031

Net Realized Gain (Loss) on Investments

The major sources of net realized gains (losses) on investments were as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Realized gains on fixed maturity securities	$	4,393		$	4,868		$	256
Realized losses on fixed maturity securities	(1,045		)	(2,367		)	—
Realized gains on equity securities	(566		)	4,525			—
Realized losses on equity securities	981			(352		)	—
Net unrealized and realized gains (losses) on derivative instruments	1,220			(1,492		)	—
Impairment loss	—			(163		)	—
Net realized gains (losses)	$	4,983		$	5,019		$	256

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):



December 31, 2017			Fair Value Measurement Using:
December 31, 2017	Total		Level 1		Level 2		Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	15,722	$	5,094	$	10,628	$	—
States, municipalities and political subdivisions	395,450		—		389,439		6,011
Foreign government	5,998		—		5,998		—
Residential mortgage-backed securities	104,895		—		90,283		14,612
Commercial mortgage-backed securities	30,405		—		18,248		12,157
Asset-backed securities	147,926		—		14,184		133,742
Corporate and other	640,230		2,098		611,844		26,288
Total fixed maturity securities	1,340,626		7,192		1,140,624		192,810
Equity securities
Common stocks	4,928		4,771		—		157
Perpetual preferred stocks	42,572		7,665		28,470		6,437
Total equity securities	47,500		12,436		28,470		6,594
Derivatives	260		—		—		260
Total assets accounted for at fair value	$	1,388,386	$	19,628	$	1,169,094	$	199,664



Liabilities
Warrant liability	$	3,826	$	—	$	—	$	3,826
Other	944		—		—		944
Total liabilities accounted for at fair value	$	4,770	$	—	$	—	$	4,770



December 31, 2016			Fair Value Measurement Using:
December 31, 2016	Total		Level 1		Level 2		Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	15,950	$	5,140	$	10,778	$	32
States, municipalities and political subdivisions	375,077		—		369,387		5,690
Foreign government	5,978		—		5,978		—
Residential mortgage-backed securities	138,196		—		82,242		55,954
Commercial mortgage-backed securities	49,053		—		6,035		43,018
Asset-backed securities	77,665		—		4,448		73,217
Corporate and other	617,039		2,020		594,653		20,366
Total fixed maturity securities	1,278,958		7,160		1,073,521		198,277
Equity securities
Common stocks	14,865		10,290		—		4,575
Perpetual preferred stocks	36,654		9,312		27,342		—
Total equity securities	51,519		19,602		27,342		4,575
Derivatives	3,813		—		—		3,813
Total assets accounted for at fair value	$	1,334,290	$	26,762	$	1,100,863	$	206,665



Liabilities
Warrant liability	$	4,058	$	—	$	—	$	4,058
Contingent liability	11,411		—		—		11,411
Other	816		—		—		816
Total liabilities accounted for at fair value	$	16,285	$	—	$	—	$	16,285

Schedule of Changes in Balances of Level 3 Financial Assets at Fair Value



				Total realized/unrealized gains (losses) included in
	Balance at December 31, 2016				Net earnings (loss)			Other comp. income (loss)				Purchases and issuances		Sales and settlements				Transfer to Level 3			Transfer out of Level 3			Balance at December 31, 2017
Assets
Fixed maturity securities
U.S. Government and government agencies		$	32		$	—			$	—		$	—		$	(17	)		$	—	$	(15	)	$	—
States, municipalities and political subdivisions		5,690			(113		)		(143		)	573			—				1,636		(1,632		)	6,011
Residential mortgage-backed securities		55,954			(370		)		1,169			3,465			(8,964		)		3,203		(39,845		)	14,612
Commercial mortgage-backed securities		43,018			(314		)		345			—			(10,072		)		8,620		(29,440		)	12,157
Asset-backed securities		73,217			1,151				1,495			149,163			(80,615		)		1,065		(11,734		)	133,742
Corporate and other		20,366			(3,361		)		3,776			12,741			(7,914		)		10,606		(9,926		)	26,288
Total fixed maturity securities		198,277			(3,007		)		6,642			165,942			(107,582		)		25,130		(92,592		)	192,810
Equity securities
Common stocks		4,575			(3,151		)		232			—			—				281		(1,780		)	157
Perpetual preferred stocks		—			—				336			—			—				6,101		—			6,437
Total equity securities		4,575			(3,151		)		568			—			—				6,382		(1,780		)	6,594
Derivatives		3,813			(1,588		)		—			—			(1,965		)		—		—			260
Total financial assets		$	206,665		$	(7,746	)		$	7,210		$	165,942		$	(109,547	)		$	31,512	$	(94,372	)	$	199,664



				Total realized/unrealized (gains) losses included in
	Balance at December 31, 2016			Net (earnings) loss			Other comp. (income) loss			Purchases and issuances		Sales and settlements			Transfer to Level 3			Transfer out of Level 3		Balance at December 31, 2017
Liabilities
Warrant liability		$	4,058	$	(232	)		$	—	$	—		$	—		$	—	$	—	$	3,826
Contingent liability		11,411		(11,411		)		—		—			—			—		—		—
Other		816		128				—		—			—			—		—		944
Total financial liabilities		$	16,285	$	(11,515	)		$	—	$	—		$	—		$	—	$	—	$	4,770



				Total realized/unrealized gains (losses) included in
	Balance at December 31, 2015			Net earnings (loss)			Other comp. income (loss)				Purchases and issuances		Sales and settlements				Transfer to Level 3			Transfer out of Level 3			Balance at December 31, 2016
Assets
Fixed maturity securities
U.S. Government and government agencies		$	73	$	—			$	2		$	—		$	(43	)		$	—	$	—			$	32
States, municipalities and political subdivisions		5,659		401				(370		)	—			—				—		—				5,690
Residential mortgage-backed securities		79,019		(1,928		)		1,374			—			(14,656		)		16,878		(24,733		)		55,954
Commercial mortgage-backed securities		60,525		(958		)		275			—			(21,548		)		12,515		(7,791		)		43,018
Asset-backed securities		27,653		963				1,413			59,379			(23,457		)		14,426		(7,160		)		73,217
Corporate and other		13,944		16				(1,610		)	13,369			(4,475		)		2,091		(2,969		)		20,366
Total fixed maturity securities		186,873		(1,506		)		1,084			72,748			(64,179		)		45,910		(42,653		)		198,277
Equity securities																								—
Common stocks		4,932		—				(357		)	—			—				—		—				4,575
Total equity securities		4,932		—				(357		)	—			—				—		—				4,575
Derivatives		4,211		(580		)		—			230			(48		)		—		—				3,813
Contingent asset		—		(156		)		—			2,992			(2,836		)		—		—				—
Total financial assets		$	196,016	$	(2,242	)		$	727		$	75,970		$	(67,063	)		$	45,910	$	(42,653	)		$	206,665



				Total realized/unrealized (gains) losses included in
	Balance at December 31, 2015			Net (earnings) loss			Other comp. (income) loss			Purchases and issuances		Sales and settlements				Transfer to Level 3			Transfer out of Level 3		Balance at December 31, 2016
Liabilities
Warrant liability		$	4,332	$	(274	)		$	—	$	—		$	—			$	—	$	—		$	4,058
Contingent liability		—		8,773				—		2,995			(357		)		—		—			11,411
Other		—		(674		)		—		1,490			—				—		—			816
Total financial liabilities		$	4,332	$	7,825			$	—	$	4,485		$	(357	)		$	—	$	—		$	16,285

Schedule of Financial Instruments Measured at Fair Value on Nonrecurring Basis



December 31, 2017					Fair Value Measurement Using:
December 31, 2017	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans	$	52,109	$	52,110	$	—	$	—	$	52,110
Policy loans	17,944		17,944		—		17,944		—
Other invested assets	2,906		3,757		—		—		3,757
Total assets not accounted for at fair value	$	72,959	$	73,811	$	—	$	17,944	$	55,867
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	243,156	$	240,361	$	—	$	—	$	240,361
Debt obligations ⁽²⁾	544,211		552,413		—		552,413		—
Total liabilities not accounted for at fair value	$	787,367	$	792,774	$	—	$	552,413	$	240,361



December 31, 2016					Fair Value Measurement Using:
December 31, 2016	Carrying Value		Estimated Fair Value		Level 1		Level 2		Level 3
Assets
Mortgage loans	$	16,831	$	16,832	$	—	$	—	$	16,832
Policy loans	18,247		18,247		—		18,247		—
Other invested assets	5,719		4,597		—		—		4,597
Total assets not accounted for at fair value	$	40,797	$	39,676	$	—	$	18,247	$	21,429
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	251,270	$	249,372	$	—	$	—	$	249,372
Debt obligations ⁽²⁾	378,780		376,081		—		376,081		—
Total liabilities not accounted for at fair value	$	630,050	$	625,453	$	—	$	376,081	$	249,372

⁽¹⁾Excludes life contingent annuities in the payout phase.

⁽²⁾ Excludes certain lease obligations accounted for under ASC 840, Leases.

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2017

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable consists of the following (in thousands):



	December 31,
	2017			2016
Contracts in progress	$	167,809		$	121,666
Trade receivables	106,937			113,380
Unbilled retentions	50,957			35,069
Other receivables	476			1,102
Allowance for doubtful accounts	(3,733		)	(3,619		)
Total accounts receivable	$	322,446		$	267,598

Inventory (Tables)

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory is recognized in the consolidated balance sheets within Other assets, and consists of the following (in thousands):



	December 31,
	2017		2016
Raw materials and consumables	$	11,832	$	8,572
Work in process	696		850
Finished goods	211		226
	$	12,739	$	9,648

Recoverable from Reinsurers (Tables)

12 Months Ended

Dec. 31, 2017

Insurance [Abstract]

Ceded Credit Risk

Recoverable from reinsurers consists of the following (in thousands):



		December 31, 2017				December 31, 2016
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Hannover Life Reassurance Co	A+	$	336,852	64.0	%	$	337,967	64.5	%
Loyal American Life Insurance Co (Cigna)	A-	140,552		26.7	%	139,269		26.5	%
Great American Life Insurance Co	A	48,933		9.3	%	46,965		9.0	%
Total		$	526,337	100.0	%	$	524,201	100.0	%

Property, Plant, and Equipment, net (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment

Property, plant, and equipment consists of the following (in thousands):



	December 31,
	2017		2016
Land	$	30,313	$	21,006
Building and leasehold improvements	34,632		31,713
Plant and transportation equipment	6,631		5,551
Cable-ships and submersibles	251,840		169,034
Equipment, furniture and fixtures, and software	127,409		101,421
Construction in progress	19,927		19,889
	470,752		348,614
Less: Accumulated depreciation	96,092		62,156
	$	374,660	$	286,458

Goodwill and Intangibles, net (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of the Changes in the Carrying Amount of Goodwill by Reporting Unit

The changes in the carrying amount of goodwill by segment are as follows (in thousands):



	Construction			Marine Services		Energy			Telecom		Insurance		Life Sciences		Other			Total
Balance at December 31, 2015		$	24,490	$	1,134	$	1,374		$	3,378	$	29,021	$	—	$	1,781		$	61,178
Reclassification		—		—		—			—		—		—		14			14
Acquisitions		11,827		1,334		1,257			—		18,269		3,620		587			36,894
Balance at December 31, 2016		$	36,317	$	2,468	$	2,631		$	3,378	$	47,290	$	3,620	$	2,382		$	98,086
Measurement period adjustment		—		—		(509		)	—		—		—		—			(509		)
Acquisitions		2,290		11,783		—			—		—		—		20,678			34,751
Impairments		—		—		—			—		—		—		(587		)	(587		)
Balance at December 31, 2017		$	38,607	$	14,251	$	2,122		$	3,378	$	47,290	$	3,620	$	22,473		$	131,741

Schedule of Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets consists of the following (in thousands):



	December 31,
	2017		2016
State licenses	$	2,450	$	2,450
FCC licenses	76,490		—
Developed technology	6,392		6,392
Total	$	85,332	$	8,842

Schedule of Intangible Assets Subject to Amortization

The gross carrying amount and accumulated amortization of amortizable intangible assets by major intangible asset class is as follows (in thousands):



	Weighted-Average Original Useful Life	December 31, 2017							December 31, 2016
	Weighted-Average Original Useful Life	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Trade names	11 Years	$	13,981	$	(4,527	)	$	9,454	$	13,004	$	(3,113	)	$	9,891
Customer relationships	12 Years	21,657		(4,681		)	16,976		20,865		(2,194		)	18,671
Developed technology	4 Years	3,823		(3,601		)	222		4,739		(3,197		)	1,542
Other	4 Years	5,374		(253		)	5,121		787		(11		)	776
Total		$	44,835	$	(13,062	)	$	31,773	$	39,395	$	(8,515	)	$	30,880

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense



	Estimated Amortization Expense		VOBA
2018	$	4,160	$	(2,475	)
2019	3,887		(2,458		)
2020	3,762		(2,555		)
2021	3,575		(2,539		)
2022	3,470		(2,522		)
Thereafter	12,919		(30,420		)
Total	$	31,773	$	(42,969	)

Life, Accident and Health Reserves (Tables)

12 Months Ended

Dec. 31, 2017

Insurance [Abstract]

Schedule of Life, Accident and Health Reserves

Life, accident and health reserves consist of the following (in thousands):



	December 31,
	2017		2016
Long-term care insurance reserves	$	1,453,442	$	1,407,848
Other accident and health insurance reserves	140,568		138,640
Traditional life insurance reserves	99,951		102,077
Total life, accident and health reserves	$	1,693,961	$	1,648,565

The following table sets forth changes in the liability for claims for the portion of our long-term care insurance reserves in scope of the ASU 2015-09 disclosure requirements (in thousands):



	Years Ended December 31,
	2017			2016
Beginning balance	$	226,970		$	208,150
Less: recoverable from reinsurers	(97,858		)	(94,041		)
Beginning balance, net	129,112			114,109
Incurred related to insured events of:
Current year	55,371			54,521
Prior years	(1,254		)	631
Total incurred	54,117			55,152
Paid related to insured events of:
Current year	(6,678		)	(8,097		)
Prior years	(38,578		)	(36,457		)
Total paid	(45,256		)	(44,554		)
Interest on liability for policy and contract claims	4,872			4,405
Ending balance, net	142,845			129,112
Add: recoverable from reinsurers	100,611			97,858
Ending balance	$	243,456		$	226,970

Accounts Payable and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Current Liabilities

Accounts payable and other current liabilities consist of the following (in thousands):



	December 31,
	2017		2016
Accounts payable	$	119,236	$	66,792
Accrued expenses and other current liabilities	99,489		55,573
Accrued interconnection costs	73,383		93,661
Accrued payroll and employee benefits	44,312		28,668
Accrued interest	4,636		3,056
Accrued income taxes	6,436		3,983
Total accounts payable and other current liabilities	$	347,492	$	251,733

Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule Of Debt And Capital Lease Obligations

obligations consist of the following (in thousands):



	December 31,
	2017			2016
Corporate
11.0% Senior Secured Notes due in 2019	$	400,000		$	307,000
Construction
LIBOR plus 2.5% Notes due in 2018 and 2019	6,738			9,439
LIBOR plus 2.0% Line of Credit	19,670			—
Marine Services
Notes payable and revolving lines of credit, various maturity dates	23,748			17,522
LIBOR plus 3.65% Notes, due in 2019	—			3,026
Obligations under capital leases	48,500			49,717
Energy
4.5% Note due in 2022⁽¹⁾	12,454			13,343
5.04% Term Loan due in 2022	13,706			—
4.25% Seller Note due in 2022	2,336			2,796
LIBOR plus 3.0% Pioneer Demand Note	1,031			—
Other	996			576
Life Sciences
Notes due in 2018	1,750			—
Other
11.0% Senior Secured Bridge Note, due in 2019 (the "11.0% Bridge Notes")	—			35,000
LIBOR plus applicable margin Bridge Note, due in 2018⁽²⁾	60,000			—
Notes payable, various maturity dates	10,189			—
Total	601,118			438,419
Issuance discount, net and deferred financing costs	(7,946		)	(9,923		)
Debt obligations	$	593,172		$	428,496

⁽¹⁾ANG refinanced and consolidated all three of its loans with Pioneer during the first quarter of 2017.

⁽²⁾On February 6, 2018, Broadcasting borrowed $42.0 million in principal amount of Bridge Loans.

Schedule Of Maturities Of Debt And Capital Lease Obligations

Aggregate capital lease and debt payments, including interest are as follows (in thousands):



	Capital Leases			Debt			Total
2018	$	10,211		$	144,440		$	154,651
2019	9,996			459,570			469,566
2020	10,202			9,234			19,436
2021	10,045			6,415			16,460
2022	10,038			6,077			16,115
Thereafter	8,027			19,101			27,128
Total minimum principal & interest payments	58,519			644,837			703,356
Less: Amount representing interest	(9,562		)	(92,676		)	(102,238		)
Total aggregate capital lease and debt payments	$	48,957		$	552,161		$	601,118

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Provisions (Benefits) for Income Taxes

The provisions (benefits) for income taxes for the years ended December 31, 2017, 2016 and 2015 are as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Current: Federal	$	17,426		$	20,937		$	361
State	3,183			2,103			1,215
Foreign	584			1,462			644
Subtotal Current	21,193			24,502			2,220
Deferred: Federal	(9,461		)	26,735			(12,604		)
State	175			444			(99		)
Foreign	(1,167		)	(43		)	(399		)
Subtotal Deferred	(10,453		)	27,136			(13,102		)
Income tax (benefit) expense	$	10,740		$	51,638		$	(10,882	)

Components of Income from Continuing Operations Before Income Taxes

The US and foreign components of income (loss) from continuing operations before income taxes for the years ended December 31, 2017, 2016 and 2015 are as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
US	$	(56,288	)	$	(71,626	)	$	(66,038	)
Foreign	16,537			25,833			19,415
Loss from continuing operations before income taxes	$	(39,751	)	$	(45,793	)	$	(46,623	)

Federal Statutory Income Tax Rate to Income (Loss) Before Income Taxes



	Years Ended December 31,
	2017			2016			2015
Tax provision (benefit) at federal statutory rate	$	(13,914	)	$	(16,027	)	$	(16,318	)
Permanent differences	500			1,635			(272		)
State tax (net of federal benefit)	2,374			1,843			1,068
Foreign rate differential	(1,461		)	1,504			287
Foreign withholding taxes (net of federal)	—			—			1,229
Executive and stock compensation	565			1,439			1,044
Adjustment to net operating losses	(7,574		)	—			(1,104		)
Increase (decrease) in valuation allowance	6,263			57,830			2,949
Transaction costs	2,258			1,189			473
Tax credits generated/utilized	(155		)	(386		)	(185		)
Transition to U.S. Tax Cuts and Jobs Act	21,079			—			—
Outside basis difference	1,144			2,655			—
Other	(339		)	(44		)	(53		)
Income tax (benefit) expense	$	10,740		$	51,638		$	(10,882	)

Net Deferred Tax Assets and Liabilities



	December 31,
	2017			2016
Deferred tax assets	$	210,250		$	257,231
Valuation allowance	(133,504		)	(138,044		)
Deferred tax liabilities	(85,825		)	(133,383		)
Net deferred taxes	$	(9,079	)	$	(14,196	)

Significant Components of Company's Deferred Tax Assets and Liabilities



	December 31,
	2017			2016
Allowance for bad debt	$	223		$	151
Basis difference in intangibles	(11,623		)	(11,924		)
Equity investments	5,650			6,877
Net operating loss carryforwards	49,018			43,080
Basis difference in fixed assets	(2,851		)	(8,616		)
Deferred compensation	14,046			11,375
Foreign tax credit	1,190			1,190
Capital loss carryforwards	2,194			1,381
Insurance company investments	(59,307		)	(86,811		)
Foreign earnings	—			(11,748		)
UK trading loss carryforward	49,690			50,151
Unrealized gain/loss in OCI	102			3,930
Insurance claims and reserves	57,030			95,883
Value of insurance business acquired ("VOBA")	9,071			16,712
Start-up cost	1,240			1,778
Deferred Acquisition Costs	5,739			5,248
Other	3,013			5,191
Valuation allowance	(133,504		)	(138,044		)
Total deferred taxes	$	(9,079	)	$	(14,196	)

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Purchase Obligations and Non-Cancellable Operating Leases

Future minimum lease payments under purchase obligations and non-cancellable operating leases are as follows (in thousands):



	Purchase Obligations		Operating Leases
2018	$	124,418	$	16,679
2019	1,323		16,222
2020	1,103		14,304
2021	27		11,417
2022	27		5,365
Thereafter	46		12,549
Total obligations	$	126,944	$	76,536

Employee Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Schedule of Change in Projected Benefit Obligation

The following table presents this reconciliation and shows the change in the projected benefit obligation for the Plans for the period from December 31, 2015 through December 31, 2017 (in thousands):



Projected benefit obligation at December 31, 2015	$	197,600
Service cost - benefits earning during the period	15
Interest cost on projected benefit obligation	6,659
Contributions	8
Actuarial loss	30,121
Benefits paid	(5,564		)
Foreign currency (gain) loss	(36,240		)
Projected benefit obligation at December 31, 2016	192,599
Service cost - benefits earning during the period	—
Interest cost on projected benefit obligation	5,670
Contributions	—
Actuarial loss	2,704
Benefits paid	(9,949		)
Foreign currency (gain) loss	17,636
Projected benefit obligation at December 31, 2017	$	208,660

Schedule of Change in Value of Assets of Plans



Fair value of plan assets at December 31, 2015	$	172,511
Actual return on plan assets	34,354
Benefits paid	(5,564		)
Contributions	1,376
Foreign currency gain (loss)	(31,905		)
Fair value of plan assets at December 31, 2016	170,772
Actual return on plan assets	10,392
Benefits paid	(9,949		)
Contributions	3,056
Foreign currency gain (loss)	15,847
Fair value of plan assets at December 31, 2017	190,118
Unfunded status at end of year	$	18,542

Schedule of Amounts Recognized in Consolidated Balance Sheets

Amounts recognized in the consolidated balance sheets within Other assets and Other liabilities at December 31, 2017 and 2016 are listed below (in thousands):



	December 31,
	2017		2016
Pension Asset	$	28	$	192
Pension Liability	18,570		22,019
Net amount recognized	$	18,542	$	21,827

Components of Net Periodic Benefit Cost

The following table presents the components of net periodic benefit cost are as follows (in thousands):



	Years Ended December 31,
	2017			2016			2015
Service cost - benefits earning during the period	$	—		$	15		$	61
Interest cost on projected benefit obligation	5,670			6,659			7,330
Expected return on assets	(7,763		)	(7,063		)	(7,507		)
Actuarial loss	75			2,830			512
Foreign currency loss	(87		)	(225		)	(12		)
Net pension (benefit) cost	$	(2,105	)	$	2,216		$	384

Weighted Average Rate of Assumptions for Asset Allocation Plans

The overall expected rate of return on assets is then derived by aggregating the expected return for each asset class over the actual asset allocation for the Plans as of December 31, 2017.



	Years Ended December 31,
	2017		2016		2015
Discount rate	2.60	%	2.85	%	3.75	%
Rate of compensation increases (MNOPF only)	NA		N/A		4.55	%
Rate of future RPI inflation	3.15	%	3.20	%	3.05	%
Rate of future CPI inflation	2.05	%	2.10	%	1.95	%
Pension increases in payment	3.00	%	3.05	%	2.90	%
Long-term rate of return on assets	4.01	%	3.17	%	4.50	%

Changes in Benefit Obligations Recognized in Comprehensive Income and Prior Service Credits Amortized from Accumulated Other Comprehensive Income



	Years Ended December 31,
	2017		2016		2015
Net loss (gain)	$	2,320	$	2,216	$	—
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$	2,320	$	2,216	$	384



	Years Ended December 31,
	2017		2016
Actuarial (gain) loss	$	75	$	2,830
Total recognized in other comprehensive (income) loss	$	75	$	2,830

Schedule of Expected Benefit Payments under Pension and Postretirement Plans

The following table provides expected benefit payments under our pension and post-retirement plans (in thousands):



	Expected Benefit Payments
2018	$	6,175
2019	6,344
2020	6,519
2021	6,698
2022	6,882
Thereafter	37,351
Total	$	69,969

Summary of Plans' Weighted-Average Asset Targets and Actual Allocations as Percentage of Plan Assets



	Target		December 31, 2017
Liability hedging	36.1	%	51.2	%
Equities	20.5	%	16.6	%
Hedge funds	24.5	%	23.8	%
Corporate bonds	13.9	%	7.5	%
Property	5.0	%	0.9	%
Total	100.0	%	100.0	%

Summary of GMSL's Investments Plan

GMSL’s plan investments related to the Global Marine Systems Pension Plan consist of the following (in thousands):



	December 31,
	2017			2016
Equities	$	38,568		$	47,623
Liability Hedging Assets	66,723			40,635
Hedge Funds	46,405			47,068
Corporate Bonds	25,736			24,492
Property	8,798			7,544
Other	623			205
Total market value of assets	186,853			167,567
Present value of liabilities	(205,423		)	(189,586		)
Net pension liability	$	(18,570	)	$	(22,019	)

GMSL’s plan investments related to the MNOPF consist of the following (in thousands):



	December 31,
	2017			2016
Equities	$	294		$	526
Liability Hedging Assets	1,861			1,641
Hedge Funds	457			519
Corporate Bonds	507			519
Property	146			—
Total market value of assets	3,265			3,205
Present value of liabilities	(3,237		)	(3,013		)
Net pension asset (liability)	$	28		$	192

Summary of Fair Value of Pension Assets and Liabilities

The following table sets forth by level, within the fair value hierarchy, the pension assets and liabilities at fair value for the Global Marine Systems Pension Plan (in thousands):



As of December 31, 2017	Fair Value Measurement Using:
	Level 1		Level 2		Total
Equities	$	—	$	38,568	$	38,568
Liability Hedging Assets	—		66,723		66,723
Hedge Funds	—		46,405		46,405
Corporate Bonds	—		25,736		25,736
Property	—		8,798		8,798
Other	243		380		623
Total Plan Net Assets	$	243	$	186,610	$	186,853



As of December 31, 2016	Fair Value Measurement Using:
	Level 1			Level 2		Total
Equities	$	—		$	47,623	$	47,623
Liability Hedging Assets	—			40,635		40,635
Hedge Funds	—			47,068		47,068
Corporate Bonds	—			24,492		24,492
Property	—			7,544		7,544
Other	(37		)	242		205
Total Plan Net Assets	$	(37	)	$	167,604	$	167,567

The following table sets forth by level, within the fair value hierarchy, the pension assets and liabilities at fair value for the MNOPF (in thousands):



As of December 31, 2017	Fair Value Measurement Using:
	Level 3		Total
Equities	$	294	$	294
Hedge Funds	457		457
Corporate Bonds	507		507
Liability Hedging Assets	1,861		1,861
Property	146		146
Total Plan Net Assets	$	3,265	$	3,265



As of December 31, 2016	Fair Value Measurement Using:
	Level 3		Total
Equities	$	525	$	525
Hedge Funds	519		519
Corporate Bonds	519		519
Liability Hedging Assets	1,641		1,641
Total Plan Net Assets	$	3,204	$	3,204

Summary of Changes in Fair Value of Level 3 Pension Assets

The table below set forth a summary of changes in the fair value of the Level 3 pension assets for the period from December 31, 2015 through December 31, 2017 for the MNOPF (in thousands):



Balance at December 31, 2015	$	2,937
Actual return on plan assets	972
Contributions	20
Benefits paid	(150		)
Foreign currency gain (loss)	(575		)
Balance at December 31, 2016	3,204
Actual return on plan assets	(68		)
Contributions	—
Benefits paid	(157		)
Foreign currency gain (loss)	286
Balance at December 31, 2017	$	3,265

Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Fair Value of Each Option Grant Estimated

The fair value of each option grant was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions shown as a weighted average for the year:



	Years Ended December 31,
	2017		2016		2015
Expected option life (in years)	0.39 - 6.10		4.70 - 6.00		4.80 - 5.50
Risk-free interest rate	1.11 - 2.22%		1.27 - 1.35%		1.49 - 1.73%
Expected volatility	47.04 - 48.29%		39.58 - 55.58%		36.29 - 53.83%
Dividend yield	—	%	—	%	—	%

Summary of Company's Restricted Stock Activity

A summary of HC2’s restricted stock activity is as follows:



	Shares		Weighted Average Grant Date Fair Value
Unvested - December 31, 2015	790,688		$	8.14
Granted	301,040		$	3.89
Vested	(959,196	)	$	7.17
Forfeited	(16,611	)	$	5.03
Unvested - December 31, 2016	115,921		$	5.59
Granted	1,847,473		$	5.41
Vested	(374,988	)	$	5.64
Forfeited	—		$	—
Unvested - December 31, 2017	1,588,406		$	5.36

Summary of Company's Stock Option Activity

A summary of HC2’s stock option activity is as follows:



	Shares		Weighted Average Exercise Price
Outstanding - December 31, 2015	5,361,285		$	5.48
Granted	1,506,848		$	10.49
Exercised	(2,000	)	$	4.06
Forfeited	(2,800	)	$	4.06
Expired	(34,236	)	$	6.68
Outstanding - December 31, 2016	6,829,097		$	6.58
Granted	331,616		$	5.50
Exercised	(134,539	)	$	3.53
Forfeited	—		$	—
Expired	(36,318	)	$	9.00
Outstanding - December 31, 2017	6,989,856		$	6.57

Eligible for exercise	5,742,604		$	5.93

Employee Retirement Plans Employee Retirement Plans - Summary of Changes in Fair Value of Level 3 Pension Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	$ 170,772	$ 172,511
Actual return on plan assets	10,392	34,354
Contributions	0	8
Benefits paid	(9,949)	(5,564)
Foreign currency gain (loss)	15,847	(31,905)
Ending balance	190,118	170,772
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	3,204	2,937
Actual return on plan assets	(68)	972
Contributions	0	20
Benefits paid	(157)	(150)
Foreign currency gain (loss)	286	(575)
Ending balance	$ 3,265	$ 3,204

Equity (Tables)

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Schedule of Stock by Class

The Company’s preferred shares authorized, issued and outstanding consisted of the following:



	December 31,
	2017	2016
Preferred shares authorized, $0.001 par value	20,000,000	20,000,000
Series A shares issued and outstanding	12,500	14,808
Series A-1 shares issued and outstanding	—	1,000
Series A-2 shares issued and outstanding	14,000	14,000

Summary of Cash, PIK and Special Cash Dividends

During 2017, HC2's Board of Directors declared cash dividends with respect to HC2’s issued and outstanding Preferred Stock, as presented in the following table (in thousands):

2017

Declaration Date

March 31, 2017

June 30, 2017

September 30, 2017

December 31, 2017

Holders of Record Date

March 31, 2017

June 30, 2017

September 30, 2017

December 31, 2017

Payment Date

April 17, 2017

July 17, 2017

October 16, 2017

January 16, 2018

Total Dividend

563

500

2016

Declaration Date

March 31, 2016

June 30, 2016

September 30, 2016

December 31, 2016

Holders of Record Date

March 31, 2016

June 30, 2016

September 30, 2016

December 31, 2016

Payment/Accrual Date

April 15, 2016

July 15, 2016

October 15, 2016

January 15, 2017

Total Dividend

988

800

563

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
-SubTopic 10
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21553-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21484-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21488-112644

+ Details

Related Parties (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Balance Outstanding of Related Parties

A summary of transactions with such entities and balances outstanding are as follows (in thousands):



	Years Ended December 31,
	2017		2016
Net revenue	$	25,183	$	28,127
Operating expenses	$	7,350	$	7,272
Interest expense	$	1,395	$	1,498
Dividends	$	4,383	$	2,200



	December 31,
	2017		2016
Accounts receivable	$	8,654	$	2,644
Debt obligations	$	35,289	$	34,766
Accounts payable	$	1,925	$	2,760

Operating Segment and Related Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Summary of Company's Geographic and Operating Segments

Summary information with respect to the Company’s geographic and operating segments is as follows (in thousands):



	Years Ended December 31,
	2017		2016		2015
Net Revenue by Geographic Region
United States	$	1,447,065	$	1,115,337	$	712,498
United Kingdom	158,257		417,933		395,917
Other	28,801		24,856		12,391
Total	$	1,634,123	$	1,558,126	$	1,120,806



	Years Ended December 31,
	2017			2016			2015
Net revenue
Construction	$	578,989		$	502,658		$	513,770
Marine Services	169,453			161,864			134,926
Energy	16,415			6,430			6,765
Telecommunications	701,898			735,043			460,355
Insurance	151,577			142,457			2,865
Other	15,791			9,674			2,125
Total net revenue	1,634,123			1,558,126			1,120,806

Income (loss) from operations
Construction	37,177			49,639			$	42,114
Marine Services	(880		)	(323		)	10,898
Energy	(2,770		)	(330		)	(888		)
Telecommunications	6,359			4,150			238
Insurance	25,353			(812		)	(176		)
Life Sciences	(17,202		)	(10,389		)	(6,404		)
Other	(9,299		)	(5,756		)	(6,198		)
Non-operating Corporate	(39,870		)	(37,600		)	(38,871		)
Total income (loss) from operations	(1,132		)	(1,421		)	713

Interest expense	(55,098		)	(43,375		)	(39,017		)
Gain (loss) on contingent consideration	11,411			(8,929		)	—
Income from equity investees	17,840			10,768			(1,499		)
Other expenses, net	(12,772		)	(2,836		)	(6,820		)
Income (loss) from continuing operations before income taxes	(39,751		)	(45,793		)	(46,623		)
Income tax (expense) benefit	(10,740		)	(51,638		)	10,882
Income (loss) from continuing operations	(50,491		)	(97,431		)	(35,741		)
Loss from discontinued operations	—			—			(21		)
Net loss	(50,491		)	(97,431		)	(35,762		)
Less: Net loss attributable to noncontrolling interest and redeemable noncontrolling interest	3,580			2,882			197
Net loss attributable to HC2 Holdings, Inc.	(46,911		)	(94,549		)	(35,565		)
Less: Preferred stock and deemed dividends from conversions	2,767			10,849			4,285
Net loss attributable to common stock and participating preferred stockholders	$	(49,678	)	$	(105,398	)	$	(39,850	)



	Years Ended December 31,
	2017			2016			2015
Depreciation and Amortization
Construction	$	5,583		$	1,892		$	2,016
Marine Services	22,898			22,007			18,771
Energy	5,071			2,248			1,635
Telecommunications	371			504			417
Insurance ⁽¹⁾	(4,373		)	(3,771		)	2
Life Sciences	186			124			21
Other	1,508			1,489			—
Non-operating Corporate	71			—			1,934
Total	$	31,315		$	24,493		$	24,796

⁽¹⁾ Balance represents amortization of negative VOBA, which increases net income.



	Years Ended December 31,
	2017		2016		2015
Capital Expenditures ⁽²⁾
Construction	$	11,684	$	8,243	$	4,969
Marine Services	10,519		12,231		10,651
Energy	8,569		7,211		4,750
Telecommunications	48		831		449
Insurance	597		128		—
Life Sciences	465		195		271
Other	25		45		234
Non-operating Corporate	18		164		—
Total	$	31,925	$	29,048	$	21,324

⁽²⁾The above capital expenditures exclude assets acquired under terms of capital lease and vendor financing obligations.

Segment Reporting for Long-term investments, Property and Equipment - Net and Assets



	December 31,
	2017			2016
Investments
Construction	$	250		$	—
Marine Services	66,322			40,698
Insurance	1,493,589			1,407,996
Life Sciences	17,771			13,067
Other	1,518			6,778
Eliminations	(35,852		)	(40,621		)
Total	$	1,543,598		$	1,427,918



	December 31,
	2017		2016
Property, Plant, and Equipment, net
United States	$	162,788	$	136,905
United Kingdom	204,866		141,946
Other	7,006		7,607
Total	$	374,660	$	286,458



	December 31,
	2017			2016
Total Assets
Construction	$	342,806		$	295,246
Marine Services	389,500			275,660
Energy	83,607			84,602
Telecommunications	114,445			125,965
Insurance	2,117,045			2,027,059
Life Sciences	31,485			28,868
Other	139,364			10,914
Non-operating Corporate	35,291			27,583
Eliminations	(35,852		)	(40,621		)
Total	$	3,217,691		$	2,835,276

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results of Operations

The following is a tabulation of the unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 (in thousands, except per share amounts):



	Quarters Ended
	March 31, 2017			June 30, 2017			September 30, 2017			December 31, 2017
Revenue	$	354,542		$	340,383		$	368,672		$	418,949
Other Revenue	36,026			38,269			37,737			39,545
Net revenue	390,568			378,652			406,409			458,494
Cost of revenue	314,414			308,664			324,673			365,318
Other operating expenses	75,182			81,183			71,171			94,650
Income (loss) from operations	972			(11,195		)	10,565			(1,474		)

Net loss attributable to common stock and participating preferred stockholders	$	(15,079	)	$	(18,704	)	$	(6,670	)	$	(9,225	)

Weighted average common shares outstanding-basic and diluted	41,948			42,691			43,013			43,623

Basic and Diluted income (loss) per common share:
Net income (loss) attributable to HC2 Holdings, Inc.	$	(0.36	)	$	(0.44	)	$	(0.16	)	$	(0.21	)



	Quarters Ended
	March 31, 2016			June 30, 2016		September 30, 2016			December 31, 2016
Revenue	$	302,606		$	323,131	$	378,538		$	411,394
Other revenue	29,138			36,162		34,546			42,611
Net revenue	331,744			359,293		413,084			454,005
Cost of revenue	274,550			284,483		333,860			361,148
Other operating expenses	76,567			68,832		72,370			87,737
Income (loss) from operations	(19,373		)	5,978		6,854			5,120

Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - common holders	(31,531		)	891		(7,506		)	(67,252		)
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - preferred holders	—			—		—			—
Net loss attributable to common stock and participating preferred stockholders	$	(31,531	)	$	891	$	(7,506	)	$	(67,252	)

Weighted average common shares outstanding-basic and diluted	35,262			35,518		36,627			41,570

Basic income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - common holders	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - preferred holders	—			—		—			—
Net income (loss) attributable to HC2 Holdings, Inc.	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)

Diluted income (loss) per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - common holders	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. - preferred holders	—			—		—			—
Net income (loss) attributable to HC2 Holdings, Inc.	$	(0.89	)	$	0.02	$	(0.20	)	$	(1.62	)

Basic and Diluted Loss Per Common Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Calculation of Basic Income (Loss) Per Common Share to Diluted Income (Loss) Per Common Share

The following table presents a reconciliation of net income (loss) used in basic and diluted EPS calculations (in thousands, except per share amounts):



	Years Ended December 31,
	2017			2016			2015
Loss from continuing operations attributable to common stock and participating preferred stockholders	$	(49,678	)	$	(105,398	)	$	(39,829	)
Loss from discontinued operations	—			—			(21		)
Net loss attributable to common stock and participating preferred stockholders	$	(49,678	)	$	(105,398	)	$	(39,850	)

Earnings allocable to common shares:
Numerator for basic and diluted EPS
Participating shares at end of period:
Weighted-average Common stock outstanding - basic and diluted	42,824			37,260			26,482

Percentage of loss allocated to:
Common Stock	100		%	100		%	100		%
Preferred Stock	—		%	—		%	—		%

Loss attributable to common shares - basic and diluted:
Loss from continuing operations	$	(49,678	)	$	(105,398	)	$	(39,829	)
Loss from discontinued operations	—			—			(21		)
Net Loss	$	(49,678	)	$	(105,398	)	$	(39,850	)

Denominator for basic and diluted EPS
Weighted average common shares outstanding - basic and diluted	42,824			37,260			26,482

Basic and Diluted EPS
Net loss attributable to common stock and participating preferred stockholders - basic and diluted	$	(1.16	)	$	(2.83	)	$	(1.50	)

Organization and Business (Details)	12 Months Ended
Organization and Business (Details)	Dec. 31, 2017 segment
Business And Organization [Line Items]
Number of reportable segments	7
DBMG
Business And Organization [Line Items]
Parents controlling interest	92.00%
Marine Services
Business And Organization [Line Items]
Parents controlling interest	73.00%
ANG
Business And Organization [Line Items]
Parents controlling interest	68.00%
PTGI-ICS
Business And Organization [Line Items]
Parents controlling interest	100.00%
Insurance Companies
Business And Organization [Line Items]
Parents controlling interest	100.00%
Genoval Orthopedics inc.
Business And Organization [Line Items]
Parents controlling interest	80.00%
R2 Dermatology, Inc.
Business And Organization [Line Items]
Parents controlling interest	74.00%
Benevir Biopharm, Inc.
Business And Organization [Line Items]
Parents controlling interest	80.00%
Medibeacon Inc., and Triple Ring Technologies, Inc
Business And Organization [Line Items]
Parents controlling interest	50.00%
Dmi Incorporation
Business And Organization [Line Items]
Percentage of ownership	56.00%
Minority Interest Ownership Percentage By Parent
Business And Organization [Line Items]
Percentage of ownership	100.00%
DTV America
Business And Organization [Line Items]
Parents controlling interest	50.00%

Business Combinations - Construction Segment (Details) - USD ($) $ in Thousands		1 Months Ended
	Nov. 01, 2017	Nov. 01, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill			$ 131,741	$ 98,086	$ 61,178
DBMG
Business Acquisition [Line Items]
Goodwill			2,290	11,827
Acquisition costs			3,300	2,300
DBMG \| Assembled and Trained Workforce
Business Acquisition [Line Items]
Goodwill			$ 1,500	$ 2,900
DBMG \| Candraft
Business Acquisition [Line Items]
Percentage of ownership interest acquired	100.00%
DBMG \| Candraft and MSS
Business Acquisition [Line Items]
Consideration paid	$ 17,800
Cash paid in acquisition	$ 16,300
DBMG \| PDC and BDS
Business Acquisition [Line Items]
Consideration paid		$ 25,500
Cash paid in acquisition		$ 21,400

Investments - Narrative (Details) $ in Millions	12 Months Ended
Investments - Narrative (Details) $ in Millions	Dec. 31, 2017 USD ($) security	Dec. 31, 2016 USD ($) security	Dec. 31, 2015 USD ($) security
Schedule of Available-for-sale Securities [Line Items]
Number of fixed maturity and equity securities \| security	126	269	528
Percentage of gross unrealized loss	100.00%	100.00%	100.00%
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Percentage of gross unrealized loss	100.00%	100.00%
Fixed maturity securities \| Investment grade
Schedule of Available-for-sale Securities [Line Items]
Percentage of gross unrealized loss	7.30%	54.50%	33.20%
Percentage of fair value	10.40%	83.00%	88.30%
Not designated as hedging instrument \| Mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Investments at fair value	$ 12.3	$ 15.2	$ 21.0
Gain (loss) resulting for changes in fair value of securities	$ (0.9)	$ 1.2	$ 0.3

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) service_provider active_license	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment impact	$ (50,491)	$ (97,431)	$ (35,762)
Active licenses \| active_license	294
Cable-ships and Submersibles
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	35 years
Minimum \| Buildings and Leasehold Improvements
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	5 years
Minimum \| Equipment, Furniture and Fixtures
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	3 years
Minimum \| Plant and Transportation Equipment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	3 years
Maximum \| Buildings and Leasehold Improvements
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	40 years
Maximum \| Equipment, Furniture and Fixtures
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	15 years
Maximum \| Plant and Transportation Equipment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Useful lives	20 years
Marine Services
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of telecommunication providers \| service_provider	60
Marine Services \| Minimum
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract term	5 years
Installation contract term	1 month
Marine Services \| Maximum
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Contract term	7 years
Installation contract term	5 months
Error in Accounting for Certain Items Related to Purchase Accounting
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Adjustment impact		800	$ 700	$ (200)
Net adjustment amount		$ 1,300
Licensing Agreements
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Renewal period	2 years 11 months 16 days
Accumulated Other Comprehensive Income (Loss) \| Accounting Standards Update 2016-01
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on investment	$ 1,100

Business Combinations - Schedule of Purchase Price Allocations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017	Nov. 30, 2017	Dec. 31, 2015
Purchase price allocation
Goodwill	$ 98,086	$ 131,741		$ 61,178
Other Acquisitions
Purchase price allocation
Cash and cash equivalents excluding restricted cash	1,775	61
Restricted cash	3	0
Accounts receivable	3	9,134
Property and equipment, net	1,623	12,097
Goodwill	4,207	20,678
Intangibles	6,392	81,016
Other assets	37	1,290
Total assets acquired	14,040	124,276
Accounts payable and other current liabilities	(289)	(8,036)
Deferred tax liability	(2,696)	(6,072)
Other liabilities	(3)	0
Long-term debt	0	(4,480)
Total liabilities assumed	(2,988)	(18,588)
Enterprise value	11,052	105,688
Less fair value of noncontrolling interest	3,889	14,496
Total net assets acquired	7,163	91,192
DBMG
Purchase price allocation
Cash and cash equivalents	621	0
Accounts receivable	5,558	448
Property and equipment, net	8,043	12,730
Goodwill	11,827	2,290
Intangibles	3,955	1,608
Other assets	2,895	909
Total assets acquired	32,899	17,985
Accounts payable and other current liabilities	(5,924)	(28)
Deferred tax liability	(169)	0
Other liabilities	(1,302)	(167)
Total liabilities assumed	(7,395)	(195)
Total net assets acquired	25,504	17,790
Marine Services \| CWind Limited
Purchase price allocation
Cash and cash equivalents	1,188	2,212
Accounts receivable	6,397	0
Property and equipment, net	28,273	73,320
Goodwill	1,334	11,783
Intangibles	690	0
Other assets	2,542	596
Total assets acquired	40,424	87,911
Accounts payable and other current liabilities	(10,891)	(676)
Deferred tax liability	(123)	0
Long-term debt	(20,813)	0
Noncontrolling interest	(815)	0
Total liabilities assumed	(32,642)	(676)
Total net assets acquired	7,782	87,235
Energy
Purchase price allocation
Accounts receivable	1,303
Property and equipment, net	40,758
Goodwill	748
Intangibles	4,984
Other assets	79
Total assets acquired	47,872
Accounts payable and other current liabilities	(897)
Deferred tax liability	(4,578)
Total liabilities assumed	(5,475)
Bargain purchase gain	(340)
Total net assets acquired	$ 42,057
Broadcasting And Subsidiaries
Purchase price allocation
Cash and cash equivalents		43,763
Accounts payable		33,000
Long-term debt		(7,655)
Noncontrolling interest		(4,994)
Less fair value of noncontrolling interest		1,780
Total net assets acquired		91,192
Broadcasting And Subsidiaries \| DTV
Purchase price allocation
Cash and cash equivalents			$ 13,467
Accounts payable			0
Long-term debt			(2,405)
Noncontrolling interest			0
Less fair value of noncontrolling interest			1,780
Total net assets acquired			17,652
Broadcasting And Subsidiaries \| Mako
Purchase price allocation
Cash and cash equivalents			18,192
Accounts payable			0
Long-term debt			(5,250)
Noncontrolling interest			(4,994)
Less fair value of noncontrolling interest			0
Total net assets acquired			$ 28,436
Broadcasting And Subsidiaries \| Azteca
Purchase price allocation
Cash and cash equivalents		0
Accounts payable		33,000
Long-term debt		0
Noncontrolling interest		0
Less fair value of noncontrolling interest		0
Total net assets acquired		33,000
Broadcasting And Subsidiaries \| Other Acquisitions
Purchase price allocation
Cash and cash equivalents		12,104
Accounts payable		0
Long-term debt		0
Noncontrolling interest		0
Less fair value of noncontrolling interest		0
Total net assets acquired		$ 12,104

Investments - Schedule of Fixed Maturity and Equity Securities Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Unrealized Losses	$ (4,514)	$ (14,583)	$ (10,865)
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,266,571	1,258,419
Unrealized Gains	78,378	33,173
Unrealized Losses	(4,323)	(12,634)
Fair Value	1,340,626	1,278,958
U.S. Government and government agencies
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,283	15,910
Unrealized Gains	470	135
Unrealized Losses	(31)	(95)
Fair Value	15,722	15,950
States, municipalities and political subdivisions
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	377,549	374,527
Unrealized Gains	18,953	4,408
Unrealized Losses	(1,052)	(3,858)
Fair Value	395,450	375,077
Foreign government
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	6,331	6,380
Unrealized Gains	0	0
Unrealized Losses	(333)	(402)
Fair Value	5,998	5,978
Residential mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	101,974	136,126
Unrealized Gains	4,185	2,634
Unrealized Losses	(1,264)	(564)
Fair Value	104,895	138,196
Commercial mortgage-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	30,152	48,715
Unrealized Gains	269	427
Unrealized Losses	(16)	(89)
Fair Value	30,405	49,053
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	145,479	76,303
Unrealized Gains	2,610	1,934
Unrealized Losses	(163)	(572)
Fair Value	147,926	77,665
Corporate and other
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	589,803	600,458
Unrealized Gains	51,891	23,635
Unrealized Losses	(1,464)	(7,054)
Fair Value	640,230	617,039
Equity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	45,840	53,277
Unrealized Gains	1,851	191
Unrealized Losses	(191)	(1,949)
Fair Value	47,500	51,519
Common stocks
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	4,938	16,236
Unrealized Gains	116	0
Unrealized Losses	(126)	(1,371)
Fair Value	4,928	14,865
Perpetual preferred stocks
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	40,902	37,041
Unrealized Gains	1,735	191
Unrealized Losses	(65)	(578)
Fair Value	$ 42,572	$ 36,654

Business Combinations - Marine Services Segment (Details) - Marine Services $ in Millions		12 Months Ended
	Nov. 30, 2017 USD ($) employee assets	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017	Nov. 01, 2016
Subsidiary Of Fugro N.V. (AMS:FUR)
Business Acquisition [Line Items]
Number of assets acquired \| assets	5
Number of employees acquired \| employee	19
Consideration paid	$ 87.2
Short-term loan	$ 7.5
CWind Limited
Business Acquisition [Line Items]
Consideration paid		$ 7.8
Percentage of ownership interest acquired		60.00%		40.00%	40.00%
Acquisition costs		$ 0.3	$ 1.8
GMH LLC \| Subsidiary Of Fugro N.V. (AMS:FUR)
Business Acquisition [Line Items]
Percentage of ownership	23.60%

Investments - Schedule of Maturities of Fixed Maturity Securities Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Amortized Cost
Total	$ 1,266,571
Fair Value
Total	1,340,626	$ 1,278,958
Corporate, Municipal, U.S. Government and Other securities
Amortized Cost
Due in one year or less	19,306
Due after one year through five years	103,803
Due after five years through ten years	153,927
Due after ten years	711,930
Subtotal	988,966
Fair Value
Due in one year or less	19,017
Due after one year through five years	106,178
Due after five years through ten years	159,615
Due after ten years	772,590
Subtotal	1,057,400
Mortgage-backed securities
Amortized Cost
Amortized cost, without single maturity date	132,126
Fair Value
Fair value, without single maturity date	135,300
Asset-backed securities
Amortized Cost
Amortized cost, without single maturity date	145,479
Fair Value
Fair value, without single maturity date	$ 147,926

Business Combinations - Energy Segment (Details) - Energy $ in Millions	12 Months Ended
	Dec. 31, 2016 USD ($) acquisition fueling_station
Business Acquisition [Line Items]
Number of acquisitions \| acquisition	4
Number of fueling stations acquired \| fueling_station	21
Consideration paid	$ 42.1
Cash paid in acquisition	39.2
Customer contracts
Business Acquisition [Line Items]
Fair value	$ 5.0
Minimum \| Customer contracts
Business Acquisition [Line Items]
Amortization period	4 years
Maximum \| Customer contracts
Business Acquisition [Line Items]
Amortization period	15 years
Medium-term Notes \| 4.25% Seller Note due in 2022
Business Acquisition [Line Items]
Seller note	$ 2.9
Interest rate (as a percent)	4.25%

Investments - Schedule of Major Industry Types of Fixed Maturity Holdings (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,266,571
Fair Value	$ 1,340,626	$ 1,278,958
% of Total	100.00%	100.00%	100.00%
Fixed maturity securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 589,803	$ 600,458
Fair Value	$ 640,230	$ 617,039
% of Total	100.00%	100.00%
Fixed maturity securities \| Finance, insurance, and real estate
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 191,234	$ 214,911
Fair Value	$ 203,735	$ 211,834
% of Total	31.80%	34.30%
Fixed maturity securities \| Transportation, communications, electric, gas and sanitary services
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 186,114	$ 180,647
Fair Value	$ 201,802	$ 189,163
% of Total	31.50%	30.70%
Fixed maturity securities \| Manufacturing
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 100,942	$ 112,644
Fair Value	$ 111,391	$ 118,440
% of Total	17.40%	19.20%
Fixed maturity securities \| Other
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 111,513	$ 92,256
Fair Value	$ 123,302	$ 97,602
% of Total	19.30%	15.80%

Business Combinations - Other Acquisitions (Details) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 30, 2017 USD ($) lptv_stations city operating_station television_broadcast_networks	Feb. 28, 2018 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($)
Other Acquisitions
Business Acquisition [Line Items]
Assets acquired			$ 7,163	$ 91,192
Consideration paid			7,200
Cash paid in acquisition			$ 1,400
Insurance Companies
Business Acquisition [Line Items]
Outstanding debt				2,000
Broadcasting And Subsidiaries
Business Acquisition [Line Items]
Assets acquired				91,192
Broadcasting And Subsidiaries \| DTV
Business Acquisition [Line Items]
Assets acquired	$ 17,652
Percentage of ownership interest acquired	50.00%
Number of LPTV stations acquired \| lptv_stations	52
Number of cities with LPTV stations \| city	40
Number of television broadcast networks \| television_broadcast_networks	30
Broadcasting And Subsidiaries \| Other Acquisitions
Business Acquisition [Line Items]
Assets acquired				$ 12,104
Broadcasting And Subsidiaries \| Mako
Business Acquisition [Line Items]
Assets acquired	$ 28,436
Number of operating stations acquired \| operating_station	38
Number of cities with operating stations \| city	28
Subsequent Event \| HC2 Network Inc. \| Northstar's Broadcast Television Stations
Business Acquisition [Line Items]
Consideration paid		$ 33,000

Investments - Other than Temporary Impairment, Credit Losses Recognized in Earnings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment [Line Items]
Total Other-Than-Temporary Impairments	$ 6,550	$ 2,614	$ 0
Net realized gains (losses) on investments
Investment [Line Items]
Total Other-Than-Temporary Impairments	0	163	0
Other expenses, net
Investment [Line Items]
Total Other-Than-Temporary Impairments	$ 6,550	$ 2,451	$ 0

Business Combinations - Acquired Intangible Assets (Details) - Other Acquisitions - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Intangibles	$ 81,016	$ 6,392
FCC licenses
Business Acquisition [Line Items]
Intangibles	76,490	0
Developed technology
Business Acquisition [Line Items]
Intangibles	0	6,392
Trade names
Business Acquisition [Line Items]
Intangibles	208	0
Other
Business Acquisition [Line Items]
Intangibles	$ 4,318	$ 0

Investments - Schedule of Unrealized Losses for Fixed Maturities and Equity Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Unrealized Losses
Less than 20%	$ (4,230)	$ (10,069)	$ (5,667)
20% or more for less than six months	(174)	(482)	0
20% or more for six months or greater	(110)	(4,032)	(5,198)
Total	$ (4,514)	$ (14,583)	$ (10,865)
% of Total
Less than 20%	93.70%	69.00%	52.20%
20% or more for less than six months	3.90%	3.30%	0.00%
20% or more for six months or greater	2.40%	27.70%	47.80%
Total	100.00%	100.00%	100.00%

Business Combinations - Business Acquisition, Pro Forma Information (Details) - Marine Services - Subsidiary Of Fugro N.V. (AMS:FUR) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Net revenue	$ 1,674,688	$ 1,596,275
Net income (loss) from continuing operations	(41,098)	(69,230)
Net income (loss) attributable to HC2 Holdings, Inc.	$ (48,256)	$ (118,235)

Investments - Schedule of Estimated Fair Values and Gross Unrealized Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fixed maturity securities
Less than 12 months
Fair Value	$ 86,424	$ 445,750	$ 920,670
Unrealized Losses	(2,297)	(8,602)	(9,548)
12 months or greater
Fair Value	59,504	3,579	0
Unrealized Losses	(2,026)	(4,032)	0
Total Fair Value	145,928	449,329	920,670
Total Unrealized Loss	(4,323)	(12,634)	(9,548)
U.S. Government and government agencies
Less than 12 months
Fair Value	5,044	4,392	15,409
Unrealized Losses	(17)	(95)	(49)
12 months or greater
Fair Value	2,199	0	0
Unrealized Losses	(14)	0	0
Total Fair Value	7,243	4,392	15,409
Total Unrealized Loss	(31)	(95)	(49)
States, municipalities and political subdivisions
Less than 12 months
Fair Value	32,939	207,740	294,105
Unrealized Losses	(834)	(3,858)	(1,227)
12 months or greater
Fair Value	10,757	0	0
Unrealized Losses	(218)	0	0
Total Fair Value	43,696	207,740	294,105
Total Unrealized Loss	(1,052)	(3,858)	(1,227)
Foreign government
Less than 12 months
Fair Value	0	5,978
Unrealized Losses	0	(402)
12 months or greater
Fair Value	5,999	0
Unrealized Losses	(333)	0
Total Fair Value	5,999	5,978
Total Unrealized Loss	(333)	(402)
Residential mortgage-backed securities
Less than 12 months
Fair Value	5,139	54,385	77,695
Unrealized Losses	(546)	(564)	(588)
12 months or greater
Fair Value	16,150	0	0
Unrealized Losses	(718)	0	0
Total Fair Value	21,289	54,385	77,695
Total Unrealized Loss	(1,264)	(564)	(588)
Commercial mortgage-backed securities
Less than 12 months
Fair Value	5,053	13,159	44,618
Unrealized Losses	(12)	(89)	(96)
12 months or greater
Fair Value	1,003	0	0
Unrealized Losses	(4)	0	0
Total Fair Value	6,056	13,159	44,618
Total Unrealized Loss	(16)	(89)	(96)
Asset-backed securities
Less than 12 months
Fair Value	19,771	12,443	22,550
Unrealized Losses	(64)	(572)	(51)
12 months or greater
Fair Value	3,963	0	0
Unrealized Losses	(99)	0	0
Total Fair Value	23,734	12,443	22,550
Total Unrealized Loss	(163)	(572)	(51)
Corporate and other
Less than 12 months
Fair Value	18,478	147,653	466,293
Unrealized Losses	(824)	(3,022)	(7,537)
12 months or greater
Fair Value	19,433	3,579	0
Unrealized Losses	(640)	(4,032)	0
Total Fair Value	37,911	151,232	466,293
Total Unrealized Loss	(1,464)	(7,054)	(7,537)
Equity securities
Less than 12 months
Fair Value	2,671	35,049	21,035
Unrealized Losses	(139)	(1,949)	(1,317)
12 months or greater
Fair Value	1,048	0	0
Unrealized Losses	(52)	0	0
Total Fair Value	3,719	35,049	21,035
Total Unrealized Loss	(191)	(1,949)	(1,317)
Common Stock
Less than 12 months
Fair Value	1,057	14,585	13,657
Unrealized Losses	(126)	(1,371)	(1,311)
12 months or greater
Fair Value	0	0	0
Unrealized Losses	0	0	0
Total Fair Value	1,057	14,585	13,657
Total Unrealized Loss	(126)	(1,371)	(1,311)
Equity securities
Less than 12 months
Fair Value	1,614	20,464	7,378
Unrealized Losses	(13)	(578)	(6)
12 months or greater
Fair Value	1,048	0	0
Unrealized Losses	(52)	0	0
Total Fair Value	2,662	20,464	7,378
Total Unrealized Loss	$ (65)	$ (578)	$ (6)

Investments - Schedule of Other Invested Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Summary of Investment Holdings [Line Items]
Cost Method	$ 2,906	$ 5,719
Equity Method	82,253	52,831
Fair Value	260	3,813
Common Equity
Summary of Investment Holdings [Line Items]
Cost Method	0	138
Equity Method	1,484	1,047
Fair Value	0	0
Preferred Equity
Summary of Investment Holdings [Line Items]
Cost Method	2,484	2,484
Equity Method	14,197	9,971
Fair Value	0	0
Derivatives
Summary of Investment Holdings [Line Items]
Cost Method	422	3,097
Equity Method	0	0
Fair Value	260	3,813
Limited partnerships
Summary of Investment Holdings [Line Items]
Cost Method	0	0
Equity Method	0	1,116
Fair Value	0	0
Joint Ventures
Summary of Investment Holdings [Line Items]
Cost Method	0	0
Equity Method	66,572	40,697
Fair Value	$ 0	$ 0

- Definition

Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.

+ References + Details

Investments - Summarized Information for Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Net revenue	$ 481,528	$ 558,180	$ 502,122
Gross profit	122,103	164,853	103,236
Income (loss) from continuing operations	7,597	51,690	(18,743)
Net income (loss)	(17,530)	(11,123)	(36,873)
Current assets	357,329	285,466	256,372
Noncurrent assets	188,319	278,766	219,434
Current liabilities	227,229	184,068	169,002
Noncurrent liabilities	$ 161,014	$ 131,587	$ 132,934

Investments - Net Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment [Line Items]
Gross investment income	$ 66,275	$ 58,933	$ 1,075
External investment expense	(205)	(901)	(44)
Net investment income	66,070	58,032	1,031
Total fixed maturity securities
Investment [Line Items]
Gross investment income	59,403	54,685	964
Equity securities
Investment [Line Items]
Gross investment income	2,620	2,263	93
Mortgage loans
Investment [Line Items]
Gross investment income	2,474	491	0
Policy loans
Investment [Line Items]
Gross investment income	1,150	1,173	18
Other invested assets
Investment [Line Items]
Gross investment income	$ 628	$ 321	$ 0

Investments - Net Realized Gain (Loss) on Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment [Line Items]
Realized gains (losses)	$ 4,983	$ 5,019	$ 256
Impairment loss	0	(163)	0
Total fixed maturity securities
Investment [Line Items]
Realized gains	(4,393)	(4,868)	(256)
Realized losses	1,045	2,367	0
Equity securities
Investment [Line Items]
Realized gains	(566)	(4,525)	0
Realized losses	981	352	0
Derivatives
Investment [Line Items]
Realized gains (losses)	$ 1,220	$ (1,492)	$ 0

Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Liabilities
Transfer out of level 3	$ 94,372,000	$ 42,653,000
Transfer into Level 3	31,512,000	45,910,000
Asset-backed securities
Liabilities
Transfer out of level 3	62,900,000
Transfer into Level 3		3,300,000
U.S. Government and government agencies
Assets
Total equity securities	15,722,000	15,950,000
States, municipalities and political subdivisions
Assets
Total equity securities	395,450,000	375,077,000
Foreign government
Assets
Total equity securities	5,998,000	5,978,000
Residential mortgage-backed securities
Assets
Total equity securities	104,895,000	138,196,000
Commercial mortgage-backed securities
Assets
Total equity securities	30,405,000	49,053,000
Asset-backed securities
Assets
Total equity securities	147,926,000	77,665,000
Corporate and other
Assets
Total equity securities	640,230,000	617,039,000
Equity securities
Assets
Total equity securities	47,500,000	51,519,000
Common Stock
Assets
Total equity securities	4,928,000	14,865,000
Perpetual preferred stocks
Assets
Total equity securities	42,572,000	36,654,000
Recurring
Assets
Derivatives	260,000	3,813,000
Total assets not accounted for at fair value	1,388,386,000	1,334,290,000
Liabilities
Other	1,500,000
Total liabilities not accounted for at fair value	4,770,000	16,285,000
Level 1 into Level 2 transfers	0
Recurring \| Warrant liability
Liabilities
Warrant liability	3,826,000	4,058,000
Recurring \| Contingent liability
Liabilities
Contingent liability		11,411,000
Recurring \| Other
Liabilities
Other	944,000	816,000
Recurring \| Level 1
Assets
Derivatives	0	0
Total assets not accounted for at fair value	19,628,000	26,762,000
Liabilities
Total liabilities not accounted for at fair value	0	0
Recurring \| Level 1 \| Warrant liability
Liabilities
Warrant liability	0	0
Recurring \| Level 1 \| Contingent liability
Liabilities
Contingent liability		0
Recurring \| Level 1 \| Other
Liabilities
Other	0	0
Recurring \| Level 2
Assets
Derivatives	0	0
Total assets not accounted for at fair value	1,169,094,000	1,100,863,000
Liabilities
Total liabilities not accounted for at fair value	0	0
Recurring \| Level 2 \| Warrant liability
Liabilities
Warrant liability	0	0
Recurring \| Level 2 \| Contingent liability
Liabilities
Contingent liability		0
Recurring \| Level 2 \| Other
Liabilities
Other	0	0
Recurring \| Level 3
Assets
Derivatives	260,000	3,813,000
Total assets not accounted for at fair value	199,664,000	206,665,000
Liabilities
Total liabilities not accounted for at fair value	4,770,000	16,285,000
Recurring \| Level 3 \| Warrant liability
Liabilities
Warrant liability	3,826,000	4,058,000
Recurring \| Level 3 \| Contingent liability
Liabilities
Contingent liability		11,411,000
Recurring \| Level 3 \| Other
Liabilities
Other	944,000	816,000
Recurring \| Total fixed maturity securities
Assets
Total equity securities	1,340,626,000	1,278,958,000
Recurring \| Total fixed maturity securities \| Level 1
Assets
Total equity securities	7,192,000	7,160,000
Recurring \| Total fixed maturity securities \| Level 2
Assets
Total equity securities	1,140,624,000	1,073,521,000
Recurring \| Total fixed maturity securities \| Level 3
Assets
Total equity securities	192,810,000	198,277,000
Recurring \| U.S. Government and government agencies
Assets
Total equity securities	15,722,000	15,950,000
Recurring \| U.S. Government and government agencies \| Level 1
Assets
Total equity securities	5,094,000	5,140,000
Recurring \| U.S. Government and government agencies \| Level 2
Assets
Total equity securities	10,628,000	10,778,000
Recurring \| U.S. Government and government agencies \| Level 3
Assets
Total equity securities	0	32,000
Recurring \| States, municipalities and political subdivisions
Assets
Total equity securities	395,450,000	375,077,000
Recurring \| States, municipalities and political subdivisions \| Level 1
Assets
Total equity securities	0	0
Recurring \| States, municipalities and political subdivisions \| Level 2
Assets
Total equity securities	389,439,000	369,387,000
Recurring \| States, municipalities and political subdivisions \| Level 3
Assets
Total equity securities	6,011,000	5,690,000
Recurring \| Foreign government
Assets
Total equity securities	5,998,000	5,978,000
Recurring \| Foreign government \| Level 1
Assets
Total equity securities	0	0
Recurring \| Foreign government \| Level 2
Assets
Total equity securities	5,998,000	5,978,000
Recurring \| Foreign government \| Level 3
Assets
Total equity securities	0	0
Recurring \| Residential mortgage-backed securities
Assets
Total equity securities	104,895,000	138,196,000
Recurring \| Residential mortgage-backed securities \| Level 1
Assets
Total equity securities	0	0
Recurring \| Residential mortgage-backed securities \| Level 2
Assets
Total equity securities	90,283,000	82,242,000
Recurring \| Residential mortgage-backed securities \| Level 3
Assets
Total equity securities	14,612,000	55,954,000
Recurring \| Commercial mortgage-backed securities
Assets
Total equity securities	30,405,000	49,053,000
Recurring \| Commercial mortgage-backed securities \| Level 1
Assets
Total equity securities	0	0
Recurring \| Commercial mortgage-backed securities \| Level 2
Assets
Total equity securities	18,248,000	6,035,000
Recurring \| Commercial mortgage-backed securities \| Level 3
Assets
Total equity securities	12,157,000	43,018,000
Recurring \| Asset-backed securities
Assets
Total equity securities	147,926,000	77,665,000
Recurring \| Asset-backed securities \| Level 1
Assets
Total equity securities	0	0
Recurring \| Asset-backed securities \| Level 2
Assets
Total equity securities	14,184,000	4,448,000
Recurring \| Asset-backed securities \| Level 3
Assets
Total equity securities	133,742,000	73,217,000
Recurring \| Corporate and other
Assets
Total equity securities	640,230,000	617,039,000
Liabilities
Level 1 into Level 2 transfers		1,100,000
Recurring \| Corporate and other \| Level 1
Assets
Total equity securities	2,098,000	2,020,000
Recurring \| Corporate and other \| Level 2
Assets
Total equity securities	611,844,000	594,653,000
Recurring \| Corporate and other \| Level 3
Assets
Total equity securities	26,288,000	20,366,000
Recurring \| Equity securities
Assets
Total equity securities	47,500,000	51,519,000
Recurring \| Equity securities \| Level 1
Assets
Total equity securities	12,436,000	19,602,000
Recurring \| Equity securities \| Level 2
Assets
Total equity securities	28,470,000	27,342,000
Recurring \| Equity securities \| Level 3
Assets
Total equity securities	6,594,000	4,575,000
Recurring \| Common Stock
Assets
Total equity securities	4,928,000	14,865,000
Recurring \| Common Stock \| Level 1
Assets
Total equity securities	4,771,000	10,290,000
Recurring \| Common Stock \| Level 2
Assets
Total equity securities	0	0
Recurring \| Common Stock \| Level 3
Assets
Total equity securities	157,000	4,575,000
Recurring \| Perpetual preferred stocks
Assets
Total equity securities	42,572,000	36,654,000
Liabilities
Level 1 into Level 2 transfers		500,000
Recurring \| Perpetual preferred stocks \| Level 1
Assets
Total equity securities	7,665,000	9,312,000
Recurring \| Perpetual preferred stocks \| Level 2
Assets
Total equity securities	28,470,000	27,342,000
Recurring \| Perpetual preferred stocks \| Level 3
Assets
Total equity securities	$ 6,437,000	$ 0

Fair Value of Financial Instruments - Schedule of Changes in Balances of Level 3 Financial Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Changes in balances of Level 3 financial assets
Balance at beginning of period	$ 206,665	$ 196,016
Total realized/unrealized net earnings (loss)	(7,746)	(2,242)
Total realized/unrealized other comp. income (loss)	7,210	727
Purchases and issuances	165,942	75,970
Sales and settlements	(109,547)	(67,063)
Transfer out of Level 3	(94,372)	(42,653)
Transfer into Level 3	31,512	45,910
Balance at end of period	199,664	206,665
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	16,285	4,332
Total realized/unrealized net earnings (loss)	(11,515)	7,825
Total realized/unrealized other comp. income (loss)	0	0
Purchases and issuances	0	4,485
Sales and settlements	0	(357)
Transfer into Level 3	0	0
Transfer out of Level 3	0	0
Balance at end of period	$ 4,770	16,285
Assets, Total \| Level 3
Changes in balances of Level 3 financial liabilities
Percent of total assets (less than)	1.00%
Warrant liability
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	$ 4,058
Total realized/unrealized net earnings (loss)	(232)
Total realized/unrealized other comp. income (loss)	0
Purchases and issuances	0
Sales and settlements	0
Transfer into Level 3	0
Transfer out of Level 3	0
Balance at end of period	3,826	4,058
Contingent liability
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	11,411	0
Total realized/unrealized net earnings (loss)	(11,411)	8,773
Total realized/unrealized other comp. income (loss)	0	0
Purchases and issuances	0	2,995
Sales and settlements	0	(357)
Transfer into Level 3	0	0
Transfer out of Level 3	0	0
Balance at end of period	0	11,411
Other
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	816	0
Total realized/unrealized net earnings (loss)	128	(674)
Total realized/unrealized other comp. income (loss)	0	0
Purchases and issuances	0	1,490
Sales and settlements	0	0
Transfer into Level 3	0	0
Transfer out of Level 3	0	0
Balance at end of period	944	816
Derivatives
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	4,058	4,332
Total realized/unrealized net earnings (loss)		(274)
Total realized/unrealized other comp. income (loss)		0
Purchases and issuances		0
Sales and settlements		0
Transfer into Level 3		0
Transfer out of Level 3		0
Balance at end of period		4,058
Securities (Assets) \| Fixed maturity securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	198,277	186,873
Total realized/unrealized net earnings (loss)	(3,007)	(1,506)
Total realized/unrealized other comp. income (loss)	6,642	1,084
Purchases and issuances	165,942	72,748
Sales and settlements	(107,582)	(64,179)
Transfer out of Level 3	(92,592)	(42,653)
Transfer into Level 3	25,130	45,910
Balance at end of period	192,810	198,277
Securities (Assets) \| U.S. Government and government agencies
Changes in balances of Level 3 financial assets
Balance at beginning of period	32	73
Total realized/unrealized net earnings (loss)	0	0
Total realized/unrealized other comp. income (loss)	0	2
Purchases and issuances	0	0
Sales and settlements	(17)	(43)
Transfer out of Level 3	(15)	0
Transfer into Level 3	0	0
Balance at end of period	0	32
Securities (Assets) \| States, municipalities and political subdivisions
Changes in balances of Level 3 financial assets
Balance at beginning of period	5,690	5,659
Total realized/unrealized net earnings (loss)	(113)	401
Total realized/unrealized other comp. income (loss)	(143)	(370)
Purchases and issuances	573	0
Sales and settlements	0	0
Transfer out of Level 3	(1,632)	0
Transfer into Level 3	1,636	0
Balance at end of period	6,011	5,690
Securities (Assets) \| Residential mortgage-backed securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	55,954	79,019
Total realized/unrealized net earnings (loss)	(370)	(1,928)
Total realized/unrealized other comp. income (loss)	1,169	1,374
Purchases and issuances	3,465	0
Sales and settlements	(8,964)	(14,656)
Transfer out of Level 3	(39,845)	(24,733)
Transfer into Level 3	3,203	16,878
Balance at end of period	14,612	55,954
Securities (Assets) \| Commercial mortgage-backed securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	43,018	60,525
Total realized/unrealized net earnings (loss)	(314)	(958)
Total realized/unrealized other comp. income (loss)	345	275
Purchases and issuances	0	0
Sales and settlements	(10,072)	(21,548)
Transfer out of Level 3	(29,440)	(7,791)
Transfer into Level 3	8,620	12,515
Balance at end of period	12,157	43,018
Securities (Assets) \| Asset-backed securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	73,217	27,653
Total realized/unrealized net earnings (loss)	1,151	963
Total realized/unrealized other comp. income (loss)	1,495	1,413
Purchases and issuances	149,163	59,379
Sales and settlements	(80,615)	(23,457)
Transfer out of Level 3	(11,734)	(7,160)
Transfer into Level 3	1,065	14,426
Balance at end of period	133,742	73,217
Securities (Assets) \| Corporate and other
Changes in balances of Level 3 financial assets
Balance at beginning of period	20,366	13,944
Total realized/unrealized net earnings (loss)	(3,361)	16
Total realized/unrealized other comp. income (loss)	3,776	(1,610)
Purchases and issuances	12,741	13,369
Sales and settlements	(7,914)	(4,475)
Transfer out of Level 3	(9,926)	(2,969)
Transfer into Level 3	10,606	2,091
Balance at end of period	26,288	20,366
Securities (Assets) \| Equity securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	4,575	4,932
Total realized/unrealized net earnings (loss)	(3,151)	0
Total realized/unrealized other comp. income (loss)	568	(357)
Purchases and issuances	0	0
Sales and settlements	0	0
Transfer out of Level 3	(1,780)	0
Transfer into Level 3	6,382	0
Balance at end of period	6,594	4,575
Securities (Assets) \| Common Stock
Changes in balances of Level 3 financial assets
Balance at beginning of period	4,575	4,932
Total realized/unrealized net earnings (loss)	(3,151)	0
Total realized/unrealized other comp. income (loss)	232	(357)
Purchases and issuances	0	0
Sales and settlements	0	0
Transfer out of Level 3	(1,780)	0
Transfer into Level 3	281	0
Balance at end of period	157	4,575
Securities (Assets) \| Perpetual preferred stocks
Changes in balances of Level 3 financial assets
Balance at beginning of period	0
Total realized/unrealized net earnings (loss)	0
Total realized/unrealized other comp. income (loss)	336
Purchases and issuances	0
Sales and settlements	0
Transfer out of Level 3	0
Transfer into Level 3	6,101
Balance at end of period	6,437	0
Derivatives
Changes in balances of Level 3 financial assets
Balance at beginning of period	3,813	4,211
Total realized/unrealized net earnings (loss)	(1,588)	(580)
Total realized/unrealized other comp. income (loss)	0	0
Purchases and issuances	0	230
Sales and settlements	(1,965)	(48)
Transfer out of Level 3	0	0
Transfer into Level 3	0	0
Balance at end of period	260	3,813
Contingent asset
Changes in balances of Level 3 financial assets
Balance at beginning of period	$ 0	0
Total realized/unrealized net earnings (loss)		(156)
Total realized/unrealized other comp. income (loss)		0
Purchases and issuances		2,992
Sales and settlements		(2,836)
Transfer out of Level 3		0
Transfer into Level 3		0
Balance at end of period		$ 0

Fair Value of Financial Instruments - Schedule of Financial Instruments Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Mortgage loans	$ 52,109	$ 16,831
Policy loans	17,944	18,247
Other invested assets	85,419	62,363
Nonrecurring \| Level 1
Assets
Mortgage loans	0	0
Policy loans	0	0
Other invested assets	0	0
Total assets not accounted for at fair value	0	0
Liabilities
Annuity benefits accumulated	0	0
Long-term obligations	0	0
Total liabilities not accounted for at fair value	0	0
Nonrecurring \| Level 2
Assets
Mortgage loans	0	0
Policy loans	17,944	18,247
Other invested assets	0	0
Total assets not accounted for at fair value	17,944	18,247
Liabilities
Annuity benefits accumulated	0	0
Long-term obligations	552,413	376,081
Total liabilities not accounted for at fair value	552,413	376,081
Nonrecurring \| Level 3
Assets
Mortgage loans	52,110	16,832
Policy loans	0	0
Other invested assets	3,757	4,597
Total assets not accounted for at fair value	55,867	21,429
Liabilities
Annuity benefits accumulated	240,361	249,372
Long-term obligations	0	0
Total liabilities not accounted for at fair value	240,361	249,372
Nonrecurring \| Carrying Value
Assets
Mortgage loans	52,109	16,831
Policy loans	17,944	18,247
Other invested assets	2,906	5,719
Total assets not accounted for at fair value	72,959	40,797
Liabilities
Annuity benefits accumulated	243,156	251,270
Long-term obligations	544,211	378,780
Total liabilities not accounted for at fair value	787,367	630,050
Nonrecurring \| Estimated Fair Value
Assets
Mortgage loans	52,110	16,832
Policy loans	17,944	18,247
Other invested assets	3,757	4,597
Total assets not accounted for at fair value	73,811	39,676
Liabilities
Annuity benefits accumulated	240,361	249,372
Long-term obligations	552,413	376,081
Total liabilities not accounted for at fair value	$ 792,774	$ 625,453

Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Receivables [Abstract]
Contracts in progress	$ 167,809	$ 121,666
Trade receivables	106,937	113,380
Unbilled retentions	50,957	35,069
Other receivables	476	1,102
Allowance for doubtful accounts	(3,733)	(3,619)
Total accounts receivable	$ 322,446	$ 267,598

Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials and consumables	$ 11,832	$ 8,572
Work in process	696	850
Finished goods	211	226
Inventory	$ 12,739	$ 9,648

Recoverable from Reinsurers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Ceded Credit Risk [Line Items]
Amount	$ 526,337	$ 524,201
% of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
% of Total	100.00%	100.00%
Hannover Life Reassurance Co \| A
Ceded Credit Risk [Line Items]
Amount	$ 336,852	$ 337,967
Hannover Life Reassurance Co \| A \| % of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
% of Total	64.00%	64.50%
Loyal American Life Insurance Co (Cigna) \| A-
Ceded Credit Risk [Line Items]
Amount	$ 140,552	$ 139,269
Loyal American Life Insurance Co (Cigna) \| A- \| % of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
% of Total	26.70%	26.50%
Great American Life Insurance Co \| A
Ceded Credit Risk [Line Items]
Amount	$ 48,933	$ 46,965
Great American Life Insurance Co \| A \| % of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
% of Total	9.30%	9.00%

Property, Plant, and Equipment, net - Summary of Property, Plant, and Equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 470,752	$ 348,614
Less: Accumulated depreciation	96,092	62,156
Property, plant and equipment, net	374,660	286,458
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	30,313	21,006
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	34,632	31,713
Plant and transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6,631	5,551
Cable-ships and submersibles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	251,840	169,034
Equipment, furniture and fixtures, and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	127,409	101,421
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 19,927	$ 19,889

Property, Plant, and Equipment, net - Narrative (Details) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 35,800,000	$ 28,900,000	$ 26,800,000
Depreciation expense with cost of revenue		5,300,000	4,400,000	$ 7,900,000
Write down amount		374,660,000	286,458,000
Cable-ships and Submersibles
Property, Plant and Equipment [Line Items]
Net book value of equipment under capital leases		$ 45,300,000	$ 51,000,000
Other
Property, Plant and Equipment [Line Items]
Impairment charges	$ 1,200,000
Other \| Computer software and other fixed assets
Property, Plant and Equipment [Line Items]
Write down amount	$ 0

Goodwill and Intangibles, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Fair value goodwill	$ 131,741	$ 98,086	$ 61,178
Impairment charge	587
Amortization expense	5,400	3,800	4,400
Negative amortization	13,062	8,515
Other
Finite-Lived Intangible Assets [Line Items]
Fair value goodwill	22,473	2,382	1,781
Impairment charge	587
NerVve \| Other
Finite-Lived Intangible Assets [Line Items]
Fair value goodwill	0
Impairment charge	(600)
Benevir Biopharm, Inc.
Finite-Lived Intangible Assets [Line Items]
In-process research and development intangible asset		6,400
VOBA
Finite-Lived Intangible Assets [Line Items]
Negative amortization	$ 4,600	3,900	$ 100
State licenses
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite-lived assets		$ 2,400

Goodwill and Intangibles, net - Changes in the Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Beginning balance	$ 98,086	$ 61,178
Reclassification		14
Acquisitions	34,751	36,894
Measurement period adjustment	(509)
Impairments	(587)
Ending balance	131,741	98,086
Construction
Goodwill [Roll Forward]
Beginning balance	36,317	24,490
Reclassification		0
Acquisitions	2,290	11,827
Measurement period adjustment	0
Impairments	0
Ending balance	38,607	36,317
Marine Services
Goodwill [Roll Forward]
Beginning balance	2,468	1,134
Reclassification		0
Acquisitions	11,783	1,334
Measurement period adjustment	0
Impairments	0
Ending balance	14,251	2,468
Energy
Goodwill [Roll Forward]
Beginning balance	2,631	1,374
Reclassification		0
Acquisitions	0	1,257
Measurement period adjustment	(509)
Impairments	0
Ending balance	2,122	2,631
Telecom
Goodwill [Roll Forward]
Beginning balance	3,378	3,378
Reclassification		0
Acquisitions	0	0
Measurement period adjustment	0
Impairments	0
Ending balance	3,378	3,378
Insurance
Goodwill [Roll Forward]
Beginning balance	47,290	29,021
Reclassification		0
Acquisitions	0	18,269
Measurement period adjustment	0
Impairments	0
Ending balance	47,290	47,290
Life Sciences
Goodwill [Roll Forward]
Beginning balance	3,620	0
Reclassification		0
Acquisitions	0	3,620
Measurement period adjustment	0
Impairments	0
Ending balance	3,620	3,620
Other
Goodwill [Roll Forward]
Beginning balance	2,382	1,781
Reclassification		14
Acquisitions	20,678	587
Measurement period adjustment	0
Impairments	(587)
Ending balance	$ 22,473	$ 2,382

Goodwill and Intangibles, net - Indefinite-lived Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 85,332	$ 8,842
State licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	2,450	2,450
FCC licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	76,490	0
Developed technology
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 6,392	$ 6,392

Goodwill and Intangibles, net - Definite Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 44,835	$ 39,395
Accumulated Amortization	(13,062)	(8,515)
Total	$ 31,773	30,880
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	11 years
Gross Carrying Amount	$ 13,981	13,004
Accumulated Amortization	(4,527)	(3,113)
Total	$ 9,454	9,891
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	12 years
Gross Carrying Amount	$ 21,657	20,865
Accumulated Amortization	(4,681)	(2,194)
Total	$ 16,976	18,671
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	4 years
Gross Carrying Amount	$ 3,823	4,739
Accumulated Amortization	(3,601)	(3,197)
Total	$ 222	1,542
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	4 years
Gross Carrying Amount	$ 5,374	787
Accumulated Amortization	(253)	(11)
Total	$ 5,121	$ 776

Goodwill and Intangibles, net - Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
2018	$ 4,160
2019	3,887
2020	3,762
2021	3,575
2022	3,470
Thereafter	12,919
Total	31,773	$ 30,880
VOBA
Business Acquisition [Line Items]
2018	2,475
2019	2,458
2020	2,555
2021	2,539
2022	2,522
Thereafter	30,420
Total	$ 42,969

Life, Accident and Health Reserves - By Product Line (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	$ 1,693,961	$ 1,648,565
Long-term care insurance reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	1,453,442	1,407,848
Other accident and health insurance reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	140,568	138,640
Traditional life insurance reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	$ 99,951	$ 102,077

Life, Accident and Health Reserves - Liability for Claims of Long-Term Care Insurance Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Beginning balance	$ 1,648,565
Paid related to insured events of:
Ending balance	1,693,961	$ 1,648,565
Other Long Duration Insurance Product Line
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Beginning balance	226,970	208,150
Less: recoverable from reinsurers	(97,858)	(94,041)
Beginning balance, net	129,112	114,109
Incurred related to insured events of:
Current year	55,371	54,521
Prior years	(1,254)	631
Total incurred	54,117	55,152
Paid related to insured events of:
Current year	(6,678)	(8,097)
Prior years	(38,578)	(36,457)
Total paid	(45,256)	(44,554)
Interest on liability for policy and contract claims	4,872	4,405
Ending balance, net	142,845	129,112
Add: recoverable from reinsurers	100,611	97,858
Ending balance	$ 243,456	$ 226,970

Accounts Payable and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accounts payable	$ 119,236	$ 66,792
Accrued expenses and other current liabilities	99,489	55,573
Accrued interconnection costs	73,383	93,661
Accrued payroll and employee benefits	44,312	28,668
Accrued interest	4,636	3,056
Accrued income taxes	6,436	3,983
Total accounts payable and other current liabilities	$ 347,492	$ 251,733

Debt Obligations - Schedule of Debt (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Nov. 06, 2017	Jan. 31, 2017	Dec. 31, 2017	Sep. 30, 2017	May 31, 2017	Dec. 31, 2016	Dec. 16, 2016	Nov. 20, 2014
Debt Instrument [Line Items]
Total			$ 601,118			$ 438,419
Original issue discount and debt issuance costs on Senior Secured Notes			(7,946)			(9,923)
Total			593,172			428,496
11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Outstanding debt		$ 35,000	400,000			307,000
Interest rate (as a percent)		11.00%						11.00%
11.0% Senior Secured Notes due in 2019 \| Secured Debt
Debt Instrument [Line Items]
Outstanding debt							$ 35,000
Notes payable and revolving lines of credit, various maturity dates
Debt Instrument [Line Items]
Outstanding debt			$ 10,189			0
11.0% Senior Secured Bridge Note, due in 2019 (the 11.0% Bridge Notes)
Debt Instrument [Line Items]
Interest rate (as a percent)			11.00%
11.0% Senior Secured Bridge Note, due in 2019 (the 11.0% Bridge Notes) \| Secured Debt
Debt Instrument [Line Items]
Outstanding debt			$ 0			35,000
Interest rate (as a percent)			11.00%
LIBOR plus applicable margin Bridge Note, due in 2018(2)
Debt Instrument [Line Items]
Outstanding debt			$ 60,000			0
Construction \| LIBOR plus 2.5% Notes due in 2018 and 2019
Debt Instrument [Line Items]
Outstanding debt			4,000
Construction \| LIBOR plus 2.5% Notes due in 2018 and 2019 \| Real Estate Term Advance
Debt Instrument [Line Items]
Outstanding debt			6,738			9,439
Basis spread on variable rate (as a percent)	2.50%
Marine Services
Debt Instrument [Line Items]
Obligations under capital leases			48,500			49,717
Marine Services \| Notes payable and revolving lines of credit, various maturity dates
Debt Instrument [Line Items]
Outstanding debt			23,748			17,522
Marine Services \| LIBOR plus 3.65% Notes, due in 2019
Debt Instrument [Line Items]
Outstanding debt			0			3,026
Energy
Debt Instrument [Line Items]
Other			996			576
Energy \| 4.5% Note due in 2022
Debt Instrument [Line Items]
Outstanding debt			$ 12,454			13,343
Interest rate (as a percent)			4.50%
Energy \| 5.04% Term Loan due in 2022
Debt Instrument [Line Items]
Outstanding debt			$ 13,706			0
Interest rate (as a percent)			5.04%	4.85%	5.04%
Energy \| 4.25% Seller Note due in 2022
Debt Instrument [Line Items]
Outstanding debt			$ 2,336			2,796
Interest rate (as a percent)			4.25%
Energy \| LIBOR plus 3.0% Pioneer Demand Note \| Line of Credit
Debt Instrument [Line Items]
Outstanding debt			$ 1,031			0
Life Sciences \| Notes due in 2018
Debt Instrument [Line Items]
Outstanding debt			$ 1,750			0
LIBOR \| Construction \| LIBOR plus 2.5% Notes due in 2018 and 2019 \| Real Estate Term Advance
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.50%
LIBOR \| Marine Services \| LIBOR plus 3.65% Notes, due in 2019
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			3.65%
LIBOR \| Energy \| LIBOR plus 3.0% Pioneer Demand Note \| Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.00%	3.00%
Revolving Credit Facility \| Construction
Debt Instrument [Line Items]
Line of credit outstanding amount			$ 19,670			$ 0
Basis spread on variable rate (as a percent)	2.00%
Revolving Credit Facility \| Energy \| 4.5% Note due in 2022
Debt Instrument [Line Items]
Outstanding debt		$ 1,000
Revolving Credit Facility \| LIBOR \| Construction
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			2.00%

Debt Obligations - Schedule of Aggregate Debt Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Capital Leases
2018	$ 10,211
2019	9,996
2021	10,202
2022	10,045
2022	10,038
Thereafter	8,027
Total minimum principal & interest payments	58,519
Less: Amount representing interest	(9,562)
Capital Leases	48,957
Debt
2018	144,440
2019	459,570
2020	9,234
2021	6,415
2022	6,077
Thereafter	19,101
Total minimum principal & interest payments	644,837
Less: Amount representing interest	(92,676)
Debt	552,161
Total
2018	154,651
2019	469,566
2020	19,436
2021	16,460
2022	16,115
Thereafter	27,128
Total minimum principal & interest payments	703,356
Less: Amount representing interest	(102,238)
Total	$ 601,118	$ 438,419

Debt Obligations - Narrative (Details)	12 Months Ended
Debt Obligations - Narrative (Details)	Dec. 31, 2017
Minimum
Debt Instrument [Line Items]
Capital leases rate (as a percent)	4.00%
Maximum
Debt Instrument [Line Items]
Capital leases rate (as a percent)	10.40%

Debt Obligations - Corporate and Other (Details) - USD ($)				12 Months Ended
	Feb. 04, 2018	Mar. 26, 2015	Nov. 20, 2014	Dec. 31, 2017	Mar. 14, 2018	Feb. 06, 2018	Dec. 15, 2017	Nov. 09, 2017	Jun. 30, 2017	Jan. 31, 2017	Dec. 31, 2016	Dec. 16, 2016	Dec. 24, 2015	Aug. 05, 2015
11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Aggregate principal amount		$ 50,000,000.0	$ 250,000,000.0						$ 38,000,000.0	$ 55,000,000.0			$ 2,000,000.0	$ 5,000,000.0
Interest rate (as a percent)			11.00%							11.00%
Debt instrument discount percentage (as a percent)			99.05%
Senior secured notes original issue discount			$ 2,400,000
Senior secured notes premium percentage		100.50%
Premiums and other costs		$ 300,000
Outstanding debt				$ 400,000,000						$ 35,000,000	$ 307,000,000
Redemption price, percentage				101.00%
LIBOR plus applicable margin Bridge Note, due in 2018(2)
Debt Instrument [Line Items]
Outstanding debt				$ 60,000,000							0
11.0% Senior Secured Bridge Loan, due in 2019
Debt Instrument [Line Items]
Interest rate (as a percent)				11.00%
September Credit Facility \| Delayed Draw Term Loan
Debt Instrument [Line Items]
Proceeds from issuance of senior secured credit facility			$ 36,000,000
Term Loan \| September Credit Facility
Debt Instrument [Line Items]
Debt term			12 months
Proceeds from issuance of senior secured credit facility			$ 214,000,000
Secured Debt \| 11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Outstanding debt												$ 35,000,000
Secured Debt \| 11.0% Senior Secured Bridge Loan, due in 2019
Debt Instrument [Line Items]
Interest rate (as a percent)				11.00%
Outstanding debt				$ 0							$ 35,000,000
Redemption price, percentage				100.00%
HC2 Broadcasting Holdings, Inc \| 11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Outstanding debt				$ 60,000,000
HC2 Broadcasting Holdings, Inc \| Bridge Loan \| LIBOR plus applicable margin Bridge Note, due in 2018(2)
Debt Instrument [Line Items]
Aggregate principal amount								$ 75,000,000
Outstanding debt							$ 15,000,000	$ 45,000,000
Subsequent Event \| HC2 Broadcasting Holdings, Inc \| Bridge Loan \| Credit Agreement Amendment
Debt Instrument [Line Items]
Outstanding debt					$ 102,000,000	$ 42,000,000
Additional aggregate principal amount	$ 27,000,000.0
Debt Instrument, Redemption, Period Three \| 11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Redemption price, percentage				105.50%
Debt Instrument, Redemption, Period Four \| 11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Percentage of redemption from aggregate principal amount				100.00%
LIBOR \| HC2 Broadcasting Holdings, Inc \| 11.0% Senior Secured Notes due in 2019
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				7.50%

Debt Obligations - Construction (Details) - Construction - USD ($)	Nov. 06, 2017	Dec. 31, 2017	Dec. 31, 2016
LIBOR plus 2.5% Notes due in 2018 and 2019
Line of Credit Facility [Line Items]
Outstanding debt		$ 4,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, maximum amount	$ 50,000,000.0
Basis spread on variable rate (as a percent)	2.00%
Line of credit outstanding amount		19,670,000	$ 0
Revolving Credit Facility \| LIBOR plus 2.5% Notes due in 2018 and 2019
Line of Credit Facility [Line Items]
Proceeds from note payable collateralized (up to)	$ 10,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Line of credit, maximum amount	$ 14,500,000.0
Line of credit outstanding amount		0
Outstanding letters of credit		8,800,000
Real Estate Term Advance \| LIBOR plus 2.5% Notes due in 2018 and 2019
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	2.50%
Outstanding debt		6,738,000	$ 9,439,000
Real Estate Term Advance \| Note Payable Collateralized by Real Estate
Line of Credit Facility [Line Items]
Outstanding debt		$ 2,700,000
Real Estate Term Advance \| Revolving Credit Facility \| Note Payable Collateralized by Real Estate
Line of Credit Facility [Line Items]
Proceeds from note payable collateralized (up to)	$ 15,000,000

Debt Obligations - Marine Services, GMSL Credit Facility (Details) - Marine Services	1 Months Ended
	Jan. 31, 2014 USD ($)
LIBOR \| Note Payable Collateralized by Assets
Line of Credit Facility [Line Items]
Basis spread on variable rate (as a percent)	3.65%
Term Loan
Line of Credit Facility [Line Items]
Term loan amount established	$ 20,000,000
Debt term	4 years 6 months

Debt Obligations - Marine Services, Furgo Acquisition (Details) - Subsidiary Of Fugro N.V. (AMS:FUR) - Marine Services - Secured Debt - USD ($) $ in Millions	Dec. 31, 2017	Nov. 30, 2017
Debt Instrument [Line Items]
Aggregate principal amount		$ 7.5
Interest rate (as a percent)	10.00%	4.00%

Debt Obligations - Marine Services, CWind Credit Facilities (Details) - CWind Limited $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2017 GBP (£)	Feb. 29, 2016 GBP (£) note_payable
Convertible notes
Debt Instrument [Line Items]
Number of instruments \| note_payable			14
Aggregate principal amount			£ 16,300,000.0
Minimum \| Convertible notes
Debt Instrument [Line Items]
Interest rate (as a percent)			7.50%
Maximum \| Convertible notes
Debt Instrument [Line Items]
Interest rate (as a percent)			7.62%
Germany \| Base Rate
Debt Instrument [Line Items]
Variable rate floor	0.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit outstanding amount \| $	$ 16.2
Revolving Credit Facility \| Germany
Debt Instrument [Line Items]
Interest rate (as a percent)	2.00%	2.00%
Line of credit, maximum amount		£ 1,500,000.0

Debt Obligations - Marine Services, GMSL Capital Leases (Details) - Marine Services $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) vessel lease	Dec. 31, 2016 USD ($)	May 31, 2016
Debt Instrument [Line Items]
Number of leases \| lease	2
Number of vessels \| vessel	2
Obligations under capital leases \| $	$ 48,500	$ 49,717
Innovator Lease
Debt Instrument [Line Items]
Interest rate (as a percent)			10.40%
Cable Lease
Debt Instrument [Line Items]
Interest rate (as a percent)			4.00%

Debt Obligations - Energy (Details) - Energy - USD ($)			1 Months Ended	3 Months Ended	12 Months Ended
Debt Obligations - Energy (Details) - Energy - USD ($)	Aug. 05, 2016	Jun. 13, 2016	Jan. 31, 2017	Sep. 30, 2017	Dec. 31, 2017	May 31, 2017	Dec. 31, 2016	Dec. 12, 2016	Sep. 19, 2016
5.04% Term Loan due in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)				4.85%	5.04%	5.04%
Increase in term loan				$ 2,500,000.0
Outstanding debt					$ 13,706,000		$ 0
Aggregate principal amount					$ 12,000,000.0
Notes Due 2023, 4.7%
Debt Instrument [Line Items]
Interest rate (as a percent)								4.70%
Aggregate principal amount								$ 4,500,000.0
4.5% Note due in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)					4.50%
Outstanding debt					$ 12,454,000		13,343,000
4.25% Seller Note due in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)					4.25%
Outstanding debt					$ 2,336,000		2,796,000
Term Loan
Debt Instrument [Line Items]
Interest rate (as a percent)					5.50%
Outstanding debt					$ 300,000
Debt term					5 years
Term Loan \| Note Payable Collateralized By Asset, 4.3%
Debt Instrument [Line Items]
Interest rate (as a percent)		4.30%
Aggregate principal amount		$ 6,500,000.0
Term Loan \| 4.5% Note due in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)			4.50%
Medium-term Notes \| Notes Due 2022, 4.3%
Debt Instrument [Line Items]
Interest rate (as a percent)									4.30%
Outstanding debt					$ 12,500,000
Aggregate principal amount									$ 2,500,000.0
Medium-term Notes \| 4.25% Seller Note due in 2022
Debt Instrument [Line Items]
Interest rate (as a percent)	4.25%
Debt term	6 years
Aggregate principal amount	$ 3,000,000.0
Line of Credit \| LIBOR plus 2.0% Line of Credit
Debt Instrument [Line Items]
Outstanding debt					$ 1,031,000		$ 0
Aggregate principal amount				$ 1,500,000.0
Revolving Credit Facility \| Revolving Demand Note Payable Collateralized By Asset, 4.3%
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000.0
Revolving Credit Facility \| 4.5% Note due in 2022
Debt Instrument [Line Items]
Outstanding debt			$ 1,000,000
LIBOR \| Term Loan \| Note Payable Collateralized By Asset, 4.3%
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)		3.00%
LIBOR \| Line of Credit \| LIBOR plus 2.0% Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			3.00%		3.00%

Debt Obligations - Life Sciences (Details) - Life Sciences - Convertible Notes Payable	Dec. 07, 2017 USD ($)
R2 Convertible Notes Maturing December 2018
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,250,000
R2 Convertible Notes Maturing June 2018
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000
Notes due in 2018
Debt Instrument [Line Items]
Interest rate (as a percent)	11.00%

Income Taxes - Provisions (Benefits) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Current: Federal	$ 17,426	$ 20,937	$ 361
State	3,183	2,103	1,215
Foreign	584	1,462	644
Subtotal Current	21,193	24,502	2,220
Deferred: Federal	(9,461)	26,735	(12,604)
State	175	444	(99)
Foreign	(1,167)	(43)	(399)
Subtotal Deferred	(10,453)	27,136	(13,102)
Income tax (benefit) expense	$ 10,740	$ 51,638	$ (10,882)

Income Taxes - Components of Income from Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
US	$ (56,288)	$ (71,626)	$ (66,038)
Foreign	16,537	25,833	19,415
Loss from continuing operations before income taxes	$ (39,751)	$ (45,793)	$ (46,623)

Income Taxes - Federal Statutory Income Tax Rate to Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Tax provision (benefit) at federal statutory rate	$ (13,914)	$ (16,027)	$ (16,318)
Permanent differences	500	1,635	(272)
State tax (net of federal benefit)	2,374	1,843	1,068
Foreign rate differential	(1,461)	1,504	287
Foreign withholding taxes (net of federal)	0	0	1,229
Executive and stock compensation	565	1,439	1,044
Adjustment to net operating losses	(7,574)	0	(1,104)
Increase (decrease) in valuation allowance	6,263	57,830	2,949
Transaction costs	2,258	1,189	473
Tax credits generated/utilized	(155)	(386)	(185)
Transition to U.S. Tax Cuts and Jobs Act	21,079	0	0
Outside basis difference	1,144	2,655	0
Other	(339)	(44)	(53)
Income tax (benefit) expense	$ 10,740	$ 51,638	$ (10,882)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Nov. 05, 2015	Nov. 04, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 24, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Release of valuation allowances			$ (6,263)	$ (57,830)	$ (2,949)
Insurance company investments			59,307	86,811		$ 99,600
Foreign operating loss carryforward			49,690	$ 50,151
Net operating losses subject to expiration							$ 146,200
Operating loss carryforwards							46,100
Amount subject to annual limitation			77,800
Operating loss carryforward limitation							$ 2,300
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Foreign operating loss carryforward			295,100
United Kingdom
Operating Loss Carryforwards [Line Items]
Foreign operating loss carryforward			221,200
Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 100,400
Common Equity
Operating Loss Carryforwards [Line Items]
Issuance and sale of common stock (in shares)	8,452,500	8,452,500	555,000	269,000	9,998,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards			$ 108,300

Income Taxes - Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 210,250	$ 257,231
Valuation allowance	(133,504)	(138,044)
Deferred tax liabilities	(85,825)	(133,383)
Net deferred taxes	$ (9,079)	$ (14,196)

Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 24, 2015
Income Tax Disclosure [Abstract]
Allowance for bad debt	$ 223	$ 151
Basis difference in intangibles	(11,623)	(11,924)
Equity investments	5,650	6,877
Net operating loss carryforwards	49,018	43,080
Basis difference in fixed assets	(2,851)	(8,616)
Deferred compensation	14,046	11,375
Foreign tax credit	1,190	1,190
Capital loss carryforwards	2,194	1,381
Insurance company investments	(59,307)	(86,811)	$ (99,600)
Foreign earnings	0	(11,748)
UK trading loss carryforward	49,690	50,151
Unrealized gain/loss in OCI	102	3,930
Insurance claims and reserves	57,030	95,883
Value of insurance business acquired (VOBA)	9,071	16,712
Start-up cost	1,240	1,778
Deferred Acquisition Costs	5,739	5,248
Other	3,013	5,191
Valuation allowance	(133,504)	(138,044)
Net deferred taxes	$ (9,079)	$ (14,196)

Commitments and Contingencies - Purchase Obligations and Non-Cancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Purchase Obligations
2018	$ 124,418
2019	1,323
2020	1,103
2021	27
2022	27
Thereafter	46
Total obligations	126,944
Operating Leases
2018	16,679
2019	16,222
2020	14,304
2021	11,417
2022	5,365
Total obligations	12,549
Total obligations	$ 76,536

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	Oct. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 06, 2014
Loss Contingencies [Line Items]
Rent expense		$ 11.6	$ 5.3	$ 5.0
Common stock, shares issued (in shares)		44,570,004	42,070,675
Global Marine Dispute
Loss Contingencies [Line Items]
Invoices raised and issued		$ 17.0
Amounts settled		8.1
Remaining risk		$ 8.9
Global Marine Dispute \| Mistaken Payment
Loss Contingencies [Line Items]
Damages sought	$ 30.0
Global Marine Dispute \| Liquidated Damages
Loss Contingencies [Line Items]
Damages sought	$ 1.2
DBMG
Loss Contingencies [Line Items]
Common stock, shares issued (in shares)					721,000

Employee Retirement Plans - Narrative (Details)			12 Months Ended
Employee Retirement Plans - Narrative (Details)	Mar. 31, 2015 USD ($)	Dec. 31, 2013 USD ($) contribution	Dec. 31, 2017 USD ($) $ / h	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined contribution section employees contribution (as a percent)			50.00%
Defined benefit, maximum employees contributions percentage			6.00%
Employee annual salary contributions capped			$ 6,000
Defined benefit, matching contribution amount			100,000	$ 100,000	$ 100,000
Defined benefit pension plan contribution made by employer			0	8,000
Actuarial valuation assumption used, increase in return on investment per year (as a percent)					4.55%
Market value of defined benefit plan assets			190,118,000	170,772,000	$ 172,511,000
Contributions due to payable to plans			12,600,000
2018			6,175,000
2019			6,344,000
2020			6,519,000
2021			6,698,000
2022			6,882,000
Net pension cost			(2,105,000)	2,216,000	$ 384,000
Net recognized benefit cost and other comprehensive income			2,100,000	400,000
Gain included in other comprehensive income			$ (100,000)	2,600,000
Benefits increasing with RPI limited, percentage			5.00%
Estimated aggregate net actuarial loss and prior service cost to be amortized next year			$ 0
Aggregate expected contributions towards benefit plans			$ 3,800,000
Global Marine Systems Pension Plan—Defined Benefit Section
Defined Benefit Plan Disclosure [Line Items]
Defined benefit, maximum employees contributions percentage			5.00%
Defined benefit, minimum employees contributions percentage			8.00%
Percentage of pensionable salaries			9.20%
Defined benefit, employer deficit contributions per year			$ 1,400,000
Actuarial valuation assumption used, retail price Inflation rate per year (as a percent)			3.70%
Actuarial valuation assumption used, consumer price Inflation rate per year (as a percent)			2.70%
Actuarial valuation assumption used, pre-retirement return on investment per year (as a percent)			5.50%
Actuarial valuation assumption used, post-retirement return on investment per year (as a percent)			4.50%
Actuarial valuation assumption used, increase in return on investment per year (as a percent)			3.00%
Market value of defined benefit plan assets	$ 2,800,000		$ 146,700,000
Percentage of market value of defined benefit plan assets	0.08%		74.00%
Contributions payable every month during year 2015 to 2018			$ 400,000
Contributions payable every month during year 2019 to May 2021			$ 600,000
Percentage of future dividend payable in cash			50.00%
Deficit contributions receivable amount	$ 394,000,000
Percentage of accrued service and projected salaries	99.70%
Percentage of pensionable salaries	20.00%
Merchant Navy Officers Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Actuarial valuation assumption used, retail price Inflation rate per year (as a percent)			3.10%
Actuarial valuation assumption used, consumer price Inflation rate per year (as a percent)			2.10%
Actuarial valuation assumption used, pre-retirement return on investment per year (as a percent)			4.75%
Actuarial valuation assumption used, post-retirement return on investment per year (as a percent)			2.60%
Market value of defined benefit plan assets	$ 3,600,000,000
Expected rate of pensions increase per year (as a percent)			2.90%
Global Marine Systems (Guernsey) Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Actuarial valuation assumption used, pre-retirement return on investment per year (as a percent)		5.30%
Actuarial valuation assumption used, post-retirement return on investment per year (as a percent)		4.40%
Market value of defined benefit plan assets		$ 3,000,000
Expected rate of pensions increase per year (as a percent)		3.30%
Inflation rate percentage		3.70%
Amount of past service shortfall		$ 200,000
Percentage of funding ratio		93.00%
Number of annual contributions \| contribution		7
Amount of annual contributions		$ 100,000.0
Global Marine Systems (Guernsey) Pension Plan \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution section employees contribution (as a percent)			2.00%
Defined benefit, minimum employees contributions percentage			5.00%
Global Marine Systems (Guernsey) Pension Plan \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined contribution section employees contribution (as a percent)			7.50%
Defined benefit, minimum employees contributions percentage			8.00%
Schuff
Defined Benefit Plan Disclosure [Line Items]
Defined benefit, matching contribution amount			$ 1,400,000	1,100,000
United States
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer			$ 100,000	100,000
Profit share contributions, probationary period			640 hours
Discretionary matching contributions vested percentage			100.00%
Discretionary matching contributions vested period			3 years
Profit share contributions rate for each hour \| $ / h			0.55
United States \| Schuff
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contribution made by employer			$ 7,000,000	6,900,000
United States \| Schuff \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Percentage of employees covered under plan			5.00%
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Market value of defined benefit plan assets			$ 186,853,000	167,567,000
Foreign Plan \| Global Marine Personal Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit, maximum employees contributions percentage			7.50%
Defined benefit, matching contribution amount			$ 3,000,000	$ 1,400,000
Defined benefit, minimum employees contributions percentage			2.00%
Defined benefit, employer matching rate plus an additional fixed contributions percentage (as a percent)			5.00%
Foreign Plan \| Ex Care \| Global Marine Personal Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit, maximum employees contributions percentage			7.50%
Defined benefit, minimum employees contributions percentage			2.50%
Defined Contribution Plan, Employer Matching Contribution, Tranche One \| Schuff
Defined Benefit Plan Disclosure [Line Items]
Defined contribution section employees contribution (as a percent)			100.00%
Defined benefit, maximum employees contributions percentage			1.00%
Defined Contribution Plan, Employer Matching Contribution, Tranche Two \| Schuff
Defined Benefit Plan Disclosure [Line Items]
Defined contribution section employees contribution (as a percent)			50.00%
Defined benefit, maximum employees contributions percentage			5.00%

Share-based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	331,616	1,506,848
Weighted average fair value at date of grant for options granted (in usd per share)	$ 2.72	$ 1.09
Share-based compensation expense	$ 5.2	$ 8.3	$ 11.1
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum vesting period	4 years
Weighted average remaining period	1 year 8 months 5 days
Intrinsic value of options outstanding	$ 5.6
Average remaining life of option outstanding	7 years 1 month 13 days
Intrinsic value of exercisable options	$ 5.5
Average remaining life of exercisable options	6 years 9 months 26 days
Compensation expense	$ 1.2
Unvested shares expected to vest (in shares)	1,247,252
Weighted average remaining life	8 years 6 months 11 days
Weighted average exercise price (in usd per share)	$ 9.51
Intrinsic value	$ 0.1
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 7.5
Weighted average remaining period	2 years 11 months 23 days
Shares expected to vest (in shares)	1,588,406	115,921	790,688
Philip Falcone
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)		6,848
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares authorized to issue (in shares)	3,500,000			1,500,000

Employee Retirement Plans - Schedule of Change in Projected Benefit Obligation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation, beginning balance	$ 192,599	$ 197,600
Service cost - benefits earning during the period	0	15	$ 61
Interest cost on projected benefit obligation	5,670	6,659	7,330
Contributions	0	8
Actuarial loss	2,704	30,121
Benefits paid	(9,949)	(5,564)
Foreign currency (gain) loss	17,636	(36,240)
Projected benefit obligation, ending balance	$ 208,660	$ 192,599	$ 197,600

Share-based Compensation - Fair Value of Each Option Grant Estimated (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate minimum	1.11%	1.27%	1.49%
Risk-free interest rate maximum	2.22%	1.35%	1.73%
Expected volatility minimum	47.04%	39.58%	36.29%
Expected volatility maximum	48.29%	55.58%	53.83%
Dividend yield	0.00%	0.00%	0.00%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life (in years)	4 months 21 days	4 years 8 months 12 days	4 years 9 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected option life (in years)	6 years 1 month 6 days	6 years	5 years

Employee Retirement Plans - Schedule of Change in Value of Assets of Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance	$ 170,772	$ 172,511
Actual return on plan assets	10,392	34,354
Benefits paid	(9,949)	(5,564)
Contributions	3,056	1,376
Foreign currency gain (loss)	15,847	(31,905)
Ending balance	190,118	$ 170,772
Unfunded status at end of year	$ 18,542

Share-based Compensation - Summary of Company's Restricted Stock Activity (Details) - Restricted Stock - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Shares
Unvested at beginning of period (in shares)	115,921	790,688
Granted (in shares)	1,847,473	301,040
Vested (in shares)	(374,988)	(959,196)
Forfeited (in shares)	0	(16,611)
Unvested at end of period (in shares)	1,588,406	115,921
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in usd per share)	$ 5.59	$ 8.14
Granted (in usd per share)	5.41	3.89
Vested (in usd per share)	5.64	7.17
Forfeited (in usd per share)	0.00	5.03
Unvested at end of period (in usd per share)	$ 5.36	$ 5.59

Employee Retirement Plans - Schedule of Amounts Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Retirement Benefits [Abstract]
Pension Asset	$ 28	$ 192
Pension Liability	18,570	22,019
Net amount recognized	$ 18,542	$ 21,827

Share-based Compensation - Summary of Company's Stock Option Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Shares
Outstanding at beginning of period (in shares)	6,829,097.00	5,361,285
Granted (in shares)	331,616	1,506,848
Exercised (in shares)	(134,539)	(2,000)
Forfeited (in shares)	0	(2,800)
Expired (in shares)	(36,318)	(34,236)
Outstanding at end of period (in shares)	6,989,856	6,829,097.00
Eligible for exercise (in shares)	5,742,604
Weighted Average Exercise Price
Outstanding at beginning of period (in usd per share)	$ 6.58	$ 5.48
Granted (in usd per share)	5.50	10.49
Exercised (in usd per share)	3.53	4.06
Forfeited (in usd per share)	0.00	4.06
Expired (in usd per share)	9.00	6.68
Outstanding at end of period (in usd per share)	6.57	$ 6.58
Eligible for exercise (in usd per share)	$ 5.93

Employee Retirement Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Retirement Benefits [Abstract]
Service cost - benefits earning during the period	$ 0	$ 15	$ 61
Interest cost on projected benefit obligation	5,670	6,659	7,330
Expected return on assets	(7,763)	(7,063)	(7,507)
Actuarial loss	75	2,830	512
Foreign currency loss	(87)	(225)	(12)
Net pension (benefit) cost	$ (2,105)	$ 2,216	$ 384

Employee Retirement Plans - Weighted Average Rate of Assumptions for Asset Allocation Plans (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Retirement Benefits [Abstract]
Discount rate	2.60%	2.85%	3.75%
Actuarial valuation assumption used, increase in return on investment per year (as a percent)			4.55%
Rate of future RPI inflation	3.15%	3.20%	3.05%
Rate of future CPI inflation	2.05%	2.10%	1.95%
Pension increases in payment	3.00%	3.05%	2.90%
Long-term rate of return on assets	4.01%	3.17%	4.50%

Employee Retirement Plans - Net Actuarial Loss (Gain) and Prior Service Cost Included in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Retirement Benefits [Abstract]
Net loss (gain)	$ 2,320	$ 2,216	$ 0
Total recognized in net periodic benefit cost and other comprehensive income (loss)	2,320	2,216	$ 384
Actuarial (gain) loss	75	2,830
Total recognized in other comprehensive (income) loss	$ 75	$ 2,830

Employee Retirement Plans - Schedule of Expected Benefit Payments under Pension and Postretirement Plans (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Retirement Benefits [Abstract]
2018	$ 6,175
2019	6,344
2020	6,519
2021	6,698
2022	6,882
Thereafter	37,351
Total	$ 69,969

Employee Retirement Plans - Summary of Plans' Weighted-Average Asset Targets and Actual Allocations as Percentage of Plan Assets (Details)	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Target Allocations (as a percent)	100.00%
Actual Allocations (as a percent)	100.00%
Liability hedging
Defined Benefit Plan Disclosure [Line Items]
Target Allocations (as a percent)	36.10%
Actual Allocations (as a percent)	51.20%
Equities
Defined Benefit Plan Disclosure [Line Items]
Target Allocations (as a percent)	20.50%
Actual Allocations (as a percent)	16.60%
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Target Allocations (as a percent)	24.50%
Actual Allocations (as a percent)	23.80%
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Target Allocations (as a percent)	13.90%
Actual Allocations (as a percent)	7.50%
Property
Defined Benefit Plan Disclosure [Line Items]
Target Allocations (as a percent)	5.00%
Actual Allocations (as a percent)	0.90%

Employee Retirement Plans - Summary of GMSL's Investments Plan (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	$ 190,118	$ 170,772	$ 172,511
Present value of liabilities	(208,660)	(192,599)	$ (197,600)
Net pension liability	(18,542)
Merchant Navy Officers Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	3,265	3,204
Merchant Navy Officers Pension Fund \| Equities
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	294	525
Merchant Navy Officers Pension Fund \| Liability Hedging Assets
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	1,861	1,641
Merchant Navy Officers Pension Fund \| Hedge Funds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	457	519
Merchant Navy Officers Pension Fund \| Corporate Bonds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	507	519
Merchant Navy Officers Pension Fund \| Property
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	146
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	186,853	167,567
Foreign Plan \| Equities
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	38,568	47,623
Foreign Plan \| Liability Hedging Assets
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	66,723	40,635
Foreign Plan \| Hedge Funds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	46,405	47,068
Foreign Plan \| Corporate Bonds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	25,736	24,492
Foreign Plan \| Property
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	8,798	7,544
Foreign Plan \| Other
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	623	205
Marine Services \| Merchant Navy Officers Pension Fund
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	3,265	3,205
Present value of liabilities	(3,237)	(3,013)
Net pension liability	28	192
Marine Services \| Merchant Navy Officers Pension Fund \| Equities
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	294	526
Marine Services \| Merchant Navy Officers Pension Fund \| Liability Hedging Assets
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	1,861	1,641
Marine Services \| Merchant Navy Officers Pension Fund \| Hedge Funds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	457	519
Marine Services \| Merchant Navy Officers Pension Fund \| Corporate Bonds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	507	519
Marine Services \| Merchant Navy Officers Pension Fund \| Property
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	146	0
Marine Services \| Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	186,853	167,567
Present value of liabilities	(205,423)	(189,586)
Net pension liability	(18,570)	(22,019)
Marine Services \| Foreign Plan \| Equities
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	38,568	47,623
Marine Services \| Foreign Plan \| Liability Hedging Assets
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	66,723	40,635
Marine Services \| Foreign Plan \| Hedge Funds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	46,405	47,068
Marine Services \| Foreign Plan \| Corporate Bonds
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	25,736	24,492
Marine Services \| Foreign Plan \| Property
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	8,798	7,544
Marine Services \| Foreign Plan \| Other
Defined Benefit Plan Disclosure [Line Items]
Total market value of assets	$ 623	$ 205

Equity - Preferred Stock (Details) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Par value (in dollars per share)	$ 0.001	$ 0.001
Shares authorized (in shares)	20,000,000	20,000,000
Series A shares issued and outstanding
Class of Stock [Line Items]
Shares issued (in shares)	12,500	14,808
Shares outstanding (in shares)	12,500	14,808
Series A-1 shares issued and outstanding
Class of Stock [Line Items]
Shares issued (in shares)	0	1,000
Shares outstanding (in shares)	0	1,000
Series A-2 shares issued and outstanding
Class of Stock [Line Items]
Shares issued (in shares)	14,000	14,000
Shares outstanding (in shares)	14,000	14,000

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands								12 Months Ended
	May 02, 2017	Oct. 07, 2016	Aug. 02, 2016	Nov. 09, 2015	Nov. 05, 2015	Nov. 05, 2015	Nov. 04, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Warrant or Right [Line Items]
Number of additional shares (in shares)								134,539	2,000
Net proceeds				$ 54,700				$ 0	$ 0	$ 53,975
Preferred stock cumulative cash dividend rate								7.50%
Preferred stock dividend rate								4.00%
Accreting dividend threshold rate								7.25%
Volume weighted average price threshold percentage								150.00%
Preferred stock trading days to calculate volume weighted average price (at least)								20 days
Preferred stock force conversion, trading days to calculate volume weighted average price								30 days
Consent rights percentage (at least)								75.00%
Conversion of preferred stock to common stock								$ 2,666	$ 21,372	$ 1,839
Maximum
Class of Warrant or Right [Line Items]
Preferred stock dividend rate								2.00%
Minimum
Class of Warrant or Right [Line Items]
Preferred stock dividend rate								0.00%
Common Stock
Class of Warrant or Right [Line Items]
Common stock (in shares)	17,500
Fair value upon issuance	$ 100
Conversion of preferred stock to common stock			$ 700
Series A- One Preferred Stock
Class of Warrant or Right [Line Items]
Preferred stock conversion price (in usd per share)								$ 4.25
Series A-2 Preferred Stock
Class of Warrant or Right [Line Items]
Preferred stock conversion price (in usd per share)								$ 7.75
Common Stock
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)						8,452,500	8,452,500	555,000	269,000	9,998,000
Number of additional shares (in shares)					1,102,500			135,000	2,000
Conversion of preferred stock to common stock								$ 1	$ 7
DG Value Partners, LP and DG Value Partners II Master Funds LP \| Common Stock
Class of Warrant or Right [Line Items]
Number of shares of common stock from conversion (in shares)	803,469
DG Value Partners, LP and DG Value Partners II Master Funds LP \| Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Number of shares of preferred stock converted (in shares)	2,308
DG Value Partners, LP and DG Value Partners II Master Funds LP \| Series A-1 Convertible Preferred Stock
Class of Warrant or Right [Line Items]
Number of shares of preferred stock converted (in shares)	1,000
Corrib Master Fund, Ltd. \| Common Stock
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)			15,318
Number of shares of common stock from conversion (in shares)			238,492
Corrib Master Fund, Ltd. \| Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)			1,000
Number of shares of preferred stock converted (in shares)			1,000					5,013
Luxor Capital Partners, LP \| Common Stock
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)			136,149
Number of shares of common stock from conversion (in shares)			2,119,765
Luxor Capital Partners, LP \| Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Number of shares of preferred stock converted (in shares)								44,555
Luxor Capital Partners, LP \| Series A-1 shares issued and outstanding
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)			9,000
Number of shares of preferred stock converted (in shares)			9,000
Corrib Master Fund, Ltd. and Luxor Capital Partners, LP
Class of Warrant or Right [Line Items]
Percent of accrued value								1.875%
Hudson Bay Absolute Return Credit Opportunities Master Fund, LTD. \| Common Stock
Class of Warrant or Right [Line Items]
Number of shares of common stock from conversion (in shares)								770,926
Additional share consideration valued at								$ 4,400
Number of shares converted (in shares)		3,751,838
Hudson Bay Absolute Return Credit Opportunities Master Fund, LTD. \| Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Number of shares of preferred stock converted (in shares)		12,500						12,499
Number of shares of common stock from conversion (in shares)								2,980,912
Recurring
Class of Warrant or Right [Line Items]
Additional share consideration valued at								$ 1,500
Public Offering \| Common Stock
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)							7,350,000

Equity - Summary of Cash Dividends (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Equity [Abstract]
Declaration Date	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Holders of Record Date	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Payment/Accrual Date	Jan. 16, 2018	Oct. 16, 2017	Jul. 17, 2017	Apr. 17, 2017	Jan. 15, 2017	Oct. 15, 2016	Jul. 15, 2016	Apr. 15, 2016
Total Dividend	$ 500	$ 500	$ 500	$ 563	$ 563	$ 800	$ 988	$ 988

Related Parties - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Nov. 30, 2017
GMH
Related Party Transaction [Line Items]
Management fees paid	$ 0.7	$ 0.7
Affiliated Entity \| Harbinger Capital Partners
Related Party Transaction [Line Items]
Expenses under service agreement	3.6	$ 3.1
Life Sciences \| R2 Dermatology, Inc.
Related Party Transaction [Line Items]
Milestone achievement amount to be paid	2.0
Life Sciences \| Blossom Innovations, LLC
Related Party Transaction [Line Items]
Milestone achievement amount to be paid	1.5
GMH \| Subsidiary Of Fugro N.V. (AMS:FUR)
Related Party Transaction [Line Items]
Percentage of ownership interest acquired			23.60%
Transaction expense	1.7
Issuance Of Senior Secured Promissory Notes \| Sellers Of DTV \| HC2 Broadcasting Holdings, Inc
Related Party Transaction [Line Items]
Due from related parties	$ 2.4

Related Parties - Summary of Balance Outstanding of Related Parties (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Related Party Transactions [Abstract]
Net revenue	$ 25,183	$ 28,127
Operating expenses	7,350	7,272
Interest expense	1,395	1,498
Dividends received	4,383	2,200
Accounts receivable	8,654	2,644
Long-term debt	35,289	34,766
Accounts payable	$ 1,925	$ 2,760

Operating Segment and Related Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2017 segment
Segment Reporting [Abstract]
Number of reportable geographic segments	2
Number of reportable operating segments	7

Operating Segment and Related Information - Geographic and Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue	$ 458,494	$ 406,409	$ 378,652	$ 390,568	$ 454,005	$ 413,084	$ 359,293	$ 331,744	$ 1,634,123	$ 1,558,126	$ 1,120,806
Income (loss) from operations	(1,474)	10,565	(11,195)	972	5,120	6,854	5,978	(19,373)	(1,132)	(1,421)	713
Interest expense									(55,098)	(43,375)	(39,017)
Gain (loss) on contingent consideration									11,411	(8,929)	0
Income from equity investees									17,840	10,768	(1,499)
Other expenses, net									(12,772)	(2,836)	(6,820)
Loss from continuing operations before income taxes									(39,751)	(45,793)	(46,623)
Income tax (expense) benefit									(10,740)	(51,638)	10,882
Income (loss) from continuing operations									(50,491)	(97,431)	(35,741)
Loss from discontinued operations									0	0	(21)
Net loss									(50,491)	(97,431)	(35,762)
Less: Net loss attributable to noncontrolling interest and redeemable noncontrolling interest									3,580	2,882	197
Net loss attributable to HC2 Holdings, Inc.									(46,911)	(94,549)	(35,565)
Less: Preferred stock and deemed dividends from conversions									2,767	10,849	4,285
Net loss attributable to common stock and participating preferred stockholders	$ (9,225)	$ (6,670)	$ (18,704)	$ (15,079)	$ (67,252)	$ (7,506)	$ 891	$ (31,531)	(49,678)	(105,398)	(39,850)
Depreciation and amortization									31,315	24,493	24,796
Capital Expenditures									31,925	29,048	21,324
Construction
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									578,989	502,658	513,770
Income (loss) from operations									37,177	49,639	42,114
Depreciation and amortization									5,583	1,892	2,016
Capital Expenditures									11,684	8,243	4,969
Marine Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									169,453	161,864	134,926
Income (loss) from operations									(880)	(323)	10,898
Depreciation and amortization									22,898	22,007	18,771
Capital Expenditures									10,519	12,231	10,651
Energy
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									16,415	6,430	6,765
Income (loss) from operations									(2,770)	(330)	(888)
Depreciation and amortization									5,071	2,248	1,635
Capital Expenditures									8,569	7,211	4,750
Telecommunications
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									701,898	735,043	460,355
Income (loss) from operations									6,359	4,150	238
Depreciation and amortization									371	504	417
Capital Expenditures									48	831	449
Insurance
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									151,577	142,457	2,865
Income (loss) from operations									25,353	(812)	(176)
Depreciation and amortization									(4,373)	(3,771)	2
Capital Expenditures									597	128	0
Life Sciences
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations									(17,202)	(10,389)	(6,404)
Depreciation and amortization									186	124	21
Capital Expenditures									465	195	271
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									15,791	9,674	2,125
Income (loss) from operations									(9,299)	(5,756)	(6,198)
Depreciation and amortization									1,508	1,489	0
Capital Expenditures									25	45	234
Non-operating Corporate
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations									(39,870)	(37,600)	(38,871)
Depreciation and amortization									71	0	1,934
Capital Expenditures									18	164	0
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									1,447,065	1,115,337	712,498
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									158,257	417,933	395,917
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenue									$ 28,801	$ 24,856	$ 12,391

Operating Segment and Related Information - Long-term investments, Property and Equipment and Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	$ 1,543,598	$ 1,427,918
Property, Plant, and Equipment, net	374,660	286,458
Total Assets	3,217,691	2,835,276
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant, and Equipment, net	162,788	136,905
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant, and Equipment, net	204,866	141,946
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, Plant, and Equipment, net	7,006	7,607
Operating Segments \| Construction
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	250	0
Total Assets	342,806	295,246
Operating Segments \| Marine Services
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	66,322	40,698
Total Assets	389,500	275,660
Operating Segments \| Insurance
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	1,493,589	1,407,996
Total Assets	2,117,045	2,027,059
Operating Segments \| Life Sciences
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	17,771	13,067
Total Assets	31,485	28,868
Operating Segments \| Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	1,518	6,778
Total Assets	139,364	10,914
Operating Segments \| Energy
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	83,607	84,602
Operating Segments \| Telecommunications
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	114,445	125,965
Operating Segments \| Non-operating Corporate
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	35,291	27,583
Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	(35,852)	(40,621)
Total Assets	$ (35,852)	$ (40,621)

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Results Of Operations [Line Items]
Revenue	$ 418,949	$ 368,672	$ 340,383	$ 354,542	$ 411,394	$ 378,538	$ 323,131	$ 302,606	$ 1,482,546	$ 1,415,669	$ 1,117,941
Other Revenue	39,545	37,737	38,269	36,026	42,611	34,546	36,162	29,138
Net revenue	458,494	406,409	378,652	390,568	454,005	413,084	359,293	331,744	1,634,123	1,558,126	1,120,806
Cost of revenue	365,318	324,673	308,664	314,414	361,148	333,860	284,483	274,550	1,313,069	1,254,041	982,623
Other operating expenses	94,650	71,171	81,183	75,182	87,737	72,370	68,832	76,567
Income (loss) from operations	(1,474)	10,565	(11,195)	972	5,120	6,854	5,978	(19,373)	(1,132)	(1,421)	713
Net loss attributable to common stock and participating preferred stockholders	$ (9,225)	$ (6,670)	$ (18,704)	$ (15,079)	$ (67,252)	$ (7,506)	$ 891	$ (31,531)	$ (49,678)	$ (105,398)	$ (39,850)
Weighted average common shares outstanding-basic and diluted (in shares)	43,623	43,013	42,691	41,948					42,824	37,260	26,482
Basic and Diluted income (loss) per common share:
Net income (loss) attributable to HC2 Holdings, Inc. (in usd per share)	$ (0.21)	$ (0.16)	$ (0.44)	$ (0.36)					$ (1.16)	$ (2.83)	$ (1.50)
Loss from continuing operations									$ (50,491)	$ (97,431)	$ (35,741)
Basic and diluted loss per common share
Net income (loss) attributable to HC2 Holdings, Inc. (in usd per share)					$ (1.62)	$ (0.20)	$ 0.02	$ (0.89)
Diluted loss per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in usd per share)									$ (1.16)	$ (2.83)	$ (1.50)
Net income (loss) attributable to HC2 Holdings, Inc. (in usd per share)					$ (1.62)	$ (0.20)	$ 0.02	$ (0.89)
Common Equity
Basic and Diluted income (loss) per common share:
Loss from continuing operations					$ (67,252)	$ (7,506)	$ 891	$ (31,531)
Basic and diluted loss per common share
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in usd per share)					$ (1.62)	$ (0.20)	$ 0.02	$ (0.89)
Diluted loss per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in usd per share)					$ (1.62)	$ (0.20)	$ 0.02	$ (0.89)
Preferred Stock
Basic and Diluted income (loss) per common share:
Loss from continuing operations					$ 0	$ 0	$ 0	$ 0
Basic and diluted loss per common share
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in usd per share)					$ 0.00	$ 0.00	$ 0.00	$ 0.00
Diluted loss per common share:
Income (loss) from continuing operations attributable to HC2 Holdings, Inc. (in usd per share)					$ 0.00	$ 0.00	$ 0.00	$ 0.00

SCHEDULE I Summary of investments — other than investments in related parties (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	$ 1,457,239
Fair Value	1,701,596
Amount at which shown in the balance sheet	1,543,598
Total fixed maturity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	1,266,571
Fair Value	1,340,626
Amount at which shown in the balance sheet	1,340,626
United States Government and government agencies and authorities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	15,283
Fair Value	15,722
Amount at which shown in the balance sheet	15,722
States, municipalities and political subdivisions
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	377,549
Fair Value	395,450
Amount at which shown in the balance sheet	395,450
Foreign governments
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	6,331
Fair Value	5,999
Amount at which shown in the balance sheet	5,999
Public utilities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	117,782
Fair Value	128,058
Amount at which shown in the balance sheet	128,058
Convertibles and bonds with warrants attached
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	7,499
Fair Value	7,409
Amount at which shown in the balance sheet	7,409
All other corporate bonds
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	742,127
Fair Value	787,988
Amount at which shown in the balance sheet	787,988
Total equity securities
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	45,840
Fair Value	47,500
Amount at which shown in the balance sheet	47,500
Industrial, miscellaneous and all other
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	4,938
Fair Value	4,928
Amount at which shown in the balance sheet	4,928
Nonredeemable preferred stocks
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	40,902
Fair Value	42,572
Amount at which shown in the balance sheet	42,572
Mortgage loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	52,109
Fair Value	52,110
Amount at which shown in the balance sheet	52,109
Policy loans
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	17,944
Fair Value	17,944
Amount at which shown in the balance sheet	17,944
Other invested assets
Summary of Investments, Other than Investments in Related Parties, Reportable Data [Line Items]
Amortized Cost	74,775
Fair Value	243,416
Amount at which shown in the balance sheet	$ 85,419

Subsequent Events (Details) - USD ($)			1 Months Ended	2 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($)	Mar. 14, 2018	Feb. 04, 2018	Feb. 28, 2018	Mar. 14, 2018	Dec. 31, 2018	Feb. 06, 2018
HC2 Broadcasting Holdings, Inc \| Credit Agreement Amendment \| Bridge Loan \| Subsequent Event
Subsequent Event [Line Items]
Additional aggregate principal amount		$ 27,000,000.0
Outstanding debt	$ 102,000,000			$ 102,000,000		$ 42,000,000
Northstar's Broadcast Television Stations \| HC2 Network Inc. \| Subsequent Event
Subsequent Event [Line Items]
Consideration paid			$ 33,000,000
Series Of Acquisitions Agreed To In December 2017 \| HC2 Broadcasting Holdings, Inc \| Subsequent Event
Subsequent Event [Line Items]
Consideration paid	$ 4,600,000			8,300,000
Series Of Acquisitions Agreed To Subsequent To December 2017 \| HC2 Broadcasting Holdings, Inc \| Subsequent Event
Subsequent Event [Line Items]
Consideration paid				$ 8,700,000
Scenario, Forecast \| ANG
Subsequent Event [Line Items]
AFETC credit					$ 2,600,000

Basic and Diluted Loss Per Common Share - Narrative (Details) - shares	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Dilutive common share equivalents (in shares)	0	0

Basic and Diluted Loss Per Common Share - Basic Income (Loss) Per Common Share to Diluted Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Loss from continuing operations attributable to common stock and participating preferred stockholders									$ (49,678)	$ (105,398)	$ (39,829)
Loss from discontinued operations									0	0	(21)
Net loss attributable to common stock and participating preferred stockholders	$ (9,225)	$ (6,670)	$ (18,704)	$ (15,079)	$ (67,252)	$ (7,506)	$ 891	$ (31,531)	$ (49,678)	$ (105,398)	$ (39,850)
Participating shares at end of period:
Weighted average common shares outstanding-basic and diluted (in shares)	43,623	43,013	42,691	41,948					42,824	37,260	26,482
Percentage of loss allocated to:
Common Stock									100.00%	100.00%	100.00%
Preferred Stock									0.00%	0.00%	0.00%
Loss attributable to common shares - basic and diluted:
Loss from continuing operations									$ (49,678)	$ (105,398)	$ (39,829)
Loss from discontinued operations									0	0	(21)
Net Loss									$ (49,678)	$ (105,398)	$ (39,850)
Denominator for basic and diluted EPS
Weighted-average Common stock outstanding (in shares)					41,570	36,627	35,518	35,262	42,824	37,260	26,482
Basic and Diluted EPS
Net loss attributable to common stock and participating preferred stockholders - basic and diluted (in dollars per share)									$ (1.16)	$ (2.83)	$ (1.50)

SCHEDULE II Condensed Financial Information of the Registrant - BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 97,885	$ 115,371	$ 158,624	$ 107,978
Other assets	102,258	74,814
Total assets	3,217,691	2,835,276
Liabilities
Other liabilities	70,174	92,871
Total liabilities	3,001,664	2,735,852
Temporary equity
Preferred stock	26,296	29,459
Stockholders’ equity
Common stock	44	42
Additional paid-in capital	254,685	241,485
Treasury stock	(2,057)	(1,387)
Accumulated deficit	(221,189)	(174,278)
Accumulated other comprehensive income (loss)	41,688	(21,647)
Total stockholders’ equity	188,122	67,439	117,524	104,395
Total liabilities, temporary equity and stockholders’ equity	3,217,691	2,835,276
Parent Company
Assets
Cash and cash equivalents	29,433	21,722	$ 41,079	$ 17,542
Other current assets	558	422
Total current assets	29,991	22,144
Investment in subsidiaries	500,634	380,308
Other assets	5,301	5,440
Total assets	535,926	407,892
Liabilities
Accounts payable	689	977
Accrued and other current liabilities	21,370	13,255
Total current liabilities	22,059	14,232
Intercompany payable	15,567	3,974
Debt obligations	393,825	299,466
Other liabilities	5,008	16,546
Total liabilities	436,459	334,218
Temporary equity
Preferred stock	26,296	29,459
Stockholders’ equity
Common stock	44	42
Additional paid-in capital	254,685	241,485
Treasury stock	(2,057)	(1,387)
Accumulated deficit	(221,189)	(174,278)
Accumulated other comprehensive income (loss)	41,688	(21,647)
Total stockholders’ equity	73,171	44,215
Total liabilities, temporary equity and stockholders’ equity	$ 535,926	$ 407,892

SCHEDULE II Condensed Financial Information of the Registrant - STATEMENT OF OPERATIONS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue	$ 458,494	$ 406,409	$ 378,652	$ 390,568	$ 454,005	$ 413,084	$ 359,293	$ 331,744	$ 1,634,123	$ 1,558,126	$ 1,120,806
Operating expenses
Depreciation and amortization									31,315	24,493	24,796
Total operating expenses									1,635,255	1,559,547	1,120,093
Income (loss) from operations	$ (1,474)	$ 10,565	$ (11,195)	$ 972	$ 5,120	$ 6,854	$ 5,978	$ (19,373)	(1,132)	(1,421)	713
Interest expense									(55,098)	(43,375)	(39,017)
Gain (loss) on contingent consideration									11,411	(8,929)	0
Other income (expense)									(12,772)	(2,836)	(6,820)
Loss from continuing operations before income taxes									(39,751)	(45,793)	(46,623)
Tax (benefit) expense									10,740	51,638	(10,882)
Net loss									(50,491)	(97,431)	(35,762)
Parent Company
Condensed Balance Sheet Statements, Captions [Line Items]
Revenue									0	0	0
Operating expenses
General and administrative									39,799	37,615	38,410
Depreciation and amortization									71	9	0
Total operating expenses									39,870	37,624	38,410
Income (loss) from operations									(39,870)	(37,624)	(38,410)
Interest expense									(44,136)	(35,987)	(33,793)
Gain (loss) on contingent consideration									11,411	(11,411)	0
Equity in net income (loss) of subsidiaries									15,407	441	26,879
Other income (expense)									91	1,277	(4,736)
Loss from continuing operations before income taxes									(57,097)	(83,304)	(50,060)
Tax (benefit) expense									(10,186)	11,245	(14,495)
Net loss									$ (46,911)	$ (94,549)	$ (35,565)

SCHEDULE II Condensed Financial Information of the Registrant - STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands		12 Months Ended
	Nov. 09, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used by operating activities		$ 6,142	$ 79,148	$ (27,914)
Cash flows from investing activities:
Cash paid for business acquisitions, net of cash acquired		(57,828)	(66,346)	39,726
Other investing activity		439	(474)	0
Cash used in investing activities:		(139,253)	(140,218)	(18,914)
Cash flows from financing activities:
Proceeds from debt obligations		186,856	56,058	54,042
Principal payments on debt obligations		(51,596)	(22,252)	(19,287)
Proceeds from sale of common stock, net	$ 54,700	0	0	53,975
Proceeds from sale of preferred stock, net		0	0	14,033
Purchase of noncontrolling interest		(341,859)	(229,738)	(51,598)
Payment of dividends		(3,641)	(4,220)	(5,687)
Taxes paid in lieu of shares issued for share-based compensation		(670)	(1,009)	0
Other financing activity		369	(36)	0
Cash provided by financing activities:		115,341	18,788	102,693
Net change in cash and cash equivalents		(17,486)	(43,253)	50,646
Cash and cash equivalents, beginning of period		115,371	158,624	107,978
Cash and cash equivalents, end of period		97,885	115,371	158,624
Parent Company
Condensed Cash Flow Statements, Captions [Line Items]
Net cash used by operating activities		(32,905)	(21,231)	(31,601)
Cash flows from investing activities:
Contributions to subsidiaries		(24,112)	(22,428)	(62,356)
Return of capital from subsidiaries		13,245	31,112	0
Cash paid for business acquisitions, net of cash acquired		(2,600)	0	0
Other investing activity		(136)	(164)	(400)
Cash used in investing activities:		(13,603)	8,520	(62,756)
Cash flows from financing activities:
Proceeds from debt obligations		91,676	0	50,250
Principal payments on debt obligations		(35,000)	0	0
Proceeds from sale of common stock, net		0	0	53,975
Proceeds from sale of preferred stock, net		0	0	14,033
Purchase of noncontrolling interest		(29)	(1,348)	0
Advances (to) from affiliates		0	0	5,000
Payment of dividends		(2,126)	(4,220)	(4,066)
Proceeds from the exercise of warrants and stock options		486	8	0
Taxes paid in lieu of shares issued for share-based compensation		(670)	(1,009)	0
Other financing activity		(118)	(77)	(1,298)
Cash provided by financing activities:		54,219	(6,646)	117,894
Net change in cash and cash equivalents		7,711	(19,357)	23,537
Cash and cash equivalents, beginning of period		21,722	41,079	17,542
Cash and cash equivalents, end of period		$ 29,433	$ 21,722	$ 41,079

SCHEDULE III Supplementary Insurance Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Supplementary Insurance Information [Abstract]
Deferred policy acquisition cost	$ 0	$ 0	$ 0
Future policy benefits, losses, claims and loss expenses	1,937,117	1,899,835	1,852,790
Unearned premiums	0	0	0
Net earned premiums	80,524	79,406	1,578
Net investment income	66,070	58,032	1,025
Benefits, claims, losses	24,293	15,667	1,293
Amortization of deferred policy acquisition cost	0	0	0
Other operating expenses	23,195	23,147	318
Net written premiums (excluding life)	$ 72,522	$ 70,597	$ 1,399

SCHEDULE IV Reinsurance (Details) - USD ($) $ in Thousands	12 Months Ended
SCHEDULE IV Reinsurance (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Life insurance in force
Gross Amount	$ 720,192	$ 764,884	$ 820,217
Ceded to other companies	(467,660)	(494,987)	(531,908)
Assumed from other companies	34,336	36,270	37,779
Net Amount	$ 286,868	$ 306,167	$ 326,088
Percentage of amount assumed to net	12.00%	11.80%	11.60%
Premiums:
Gross Amount	$ 210,141	$ 225,296	$ 9,585
Ceded to other companies	(134,441)	(150,761)	(8,171)
Assumed from other companies	4,824	4,871	164
Net Amount	$ 80,524	$ 79,406	$ 1,578
Percentage of amount assumed to net	6.00%	6.10%	10.40%
Life insurance
Premiums:
Gross Amount	$ 12,160	$ 13,255	$ 262
Ceded to other companies	(4,567)	(4,856)	(91)
Assumed from other companies	409	410	8
Net Amount	$ 8,002	$ 8,809	$ 179
Percentage of amount assumed to net	5.10%	4.70%	4.50%
Accident and health insurance
Premiums:
Gross Amount	$ 197,981	$ 212,041	$ 9,323
Ceded to other companies	(129,874)	(145,905)	(8,080)
Assumed from other companies	4,415	4,461	156
Net Amount	$ 72,522	$ 70,597	$ 1,399
Percentage of amount assumed to net	6.10%	6.30%	11.20%

SCHEDULE V Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Doubtful Accounts Receivable
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 3,619	$ 794	$ 2,760
Charged to Costs and Expenses	127	2,862	99
Deductions	(13)	(37)	(2,065)
Other	0	0	0
Balance at End of Period	3,733	3,619	794
Deferred Tax Asset Valuation
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	138,044	68,104	68,983
Charged to Costs and Expenses	6,263	57,830	(879)
Deductions	0	0	0
Other	(10,803)	12,110	0
Balance at End of Period	$ 133,504	$ 138,044	$ 68,104