0001006837-20-000159 | 10-Q | XBRL Viewer

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

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 millions):


June 30, 2020				Fair Value Measurement Using:
			Total			Level 1			Level 2			Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	8.5		$	5.5		$	3.0		$	—
States, municipalities and political subdivisions	436.7			—			433.7			3.0

Residential mortgage-backed securities	59.7			—			50.1			9.6
Commercial mortgage-backed securities	91.2			—			40.1			51.1
Asset-backed securities	531.5			—			28.7			502.8
Corporate and other	2,988.7			37.9			2,808.2			142.6
Total fixed maturity securities	4,116.3			43.4			3,363.8			709.1
Equity securities
Common stocks	5.8			4.3			—			1.5
Perpetual preferred stocks	68.0			4.7			19.4			43.9
Total equity securities	73.8			9.0			19.4			45.4


Total assets accounted for at fair value	$	4,190.1		$	52.4		$	3,383.2		$	754.5


Liabilities
Embedded derivative	$	8.7	$	—	$	—	$	8.7
Other	3.9		—		—		3.9
Total liabilities accounted for at fair value	$	12.6	$	—	$	—	$	12.6


December 31, 2019				Fair Value Measurement Using:
			Total			Level 1			Level 2			Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	7.7		$	4.8		$	2.9		$	—
States, municipalities and political subdivisions	440.1			—			440.1			—

Residential mortgage-backed securities	66.9			—			57.7			9.2
Commercial mortgage-backed securities	109.4			—			74.8			34.6
Asset-backed securities	577.8			—			27.2			550.6
Corporate and other	2,827.0			46.5			2,669.5			111.0
Total fixed maturity securities	4,028.9			51.3			3,272.2			705.4
Equity securities
Common stocks	10.5			7.1			—			3.4
Perpetual preferred stocks	82.0			5.0			22.8			54.2
Total equity securities	92.5			12.1			22.8			57.6


Total assets accounted for at fair value	$	4,121.4		$	63.4		$	3,295.0		$	763.0


Liabilities
Embedded Derivatives	$	3.0	$	—	$	—	$	3.0
Other	4.8		—		—		4.8
Total liabilities accounted for at fair value	$	7.8	$	—	$	—	$	7.8

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

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 three and six months ended June 30, 2020 and 2019 (in millions):


			Total realized/unrealized gains (losses) included in
	March 31, 2020			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	9.0		$	0.1		$	1.9	$	—	$	—		$	3.0	$	(11.0)		$	3.0

Residential mortgage-backed securities	13.0			—			0.3		—		(0.8)			—		(2.9)			9.6
Commercial mortgage-backed securities	34.2			0.1			(8.1)		—		—			24.9		—			51.1
Asset-backed securities	285.5			(5.9)			65.6		—		(34.2)			191.8		—			502.8
Corporate and other	168.7			(0.1)			7.5		3.2		(2.8)			4.8		(38.7)			142.6
Total fixed maturity securities	510.4			(5.8)			67.2		3.2		(37.8)			224.5		(52.6)			709.1
Equity securities
Common stocks	3.4			(1.9)			—		—		—			—		—			1.5
Perpetual preferred stocks	38.2			2.3			1.7		—		—			1.7		—			43.9
Total equity securities	41.6			0.4			1.7		—		—			1.7		—			45.4


Total financial assets	$	552.0		$	(5.4)		$	68.9	$	3.2	$	(37.8)		$	226.2	$	(52.6)		$	754.5


			Total realized/unrealized (gains) losses included in
	Balance at March 31, 2020			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances			Sales and settlements			Transfer to Level 3			Transfer out of Level 3			Balance at June 30, 2020
Liabilities
Embedded derivative	$	0.7		$	8.0		$	—	$	—		$	—		$	—		$	—		$	8.7
Other	3.7			0.2			—		—			—			—			—			3.9



Total financial liabilities	$	4.4		$	8.2		$	—	$	—		$	—		$	—		$	—		$	12.6


			Total realized/unrealized gains (losses) included in
	Balance at December 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	—		$	0.2		$	0.9	$	—	$	—		$	12.9	$	(11.0)		$	3.0

Residential mortgage-backed securities	9.2			—			(1.6)		—		(1.5)			6.8		(3.3)			9.6
Commercial mortgage-backed securities	34.6			0.1			(13.4)		—		(0.2)			30.0		—			51.1
Asset-backed securities	550.6			(5.9)			(27.7)		60.0		(85.7)			191.8		(180.3)			502.8
Corporate and other	111.0			(0.2)			(5.5)		35.9		(4.1)			45.5		(40.0)			142.6
Total fixed maturity securities	705.4			(5.8)			(47.3)		95.9		(91.5)			287.0		(234.6)			709.1
Equity securities
Common stocks	3.4			(1.9)			—		—		—			—		—			1.5
Perpetual preferred stocks	54.2			2.3			(14.3)		—		—			1.7		—			43.9
Total equity securities	57.6			0.4			(14.3)		—		—			1.7		—			45.4


Total financial assets	$	763.0		$	(5.4)		$	(61.6)	$	95.9	$	(91.5)		$	288.7	$	(234.6)		$	754.5


			Total realized/unrealized (gains) losses included in
	Balance at December 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Liabilities
Embedded derivative	$	3.0		$	5.7		$	—	$	—	$	—		$	—	$	—		$	8.7
Other	4.8			(0.9)			—		—		—			—		—			3.9



Total financial liabilities	$	7.8		$	4.8		$	—	$	—	$	—		$	—	$	—		$	12.6


			Total realized/unrealized gains (losses) included in
	Balance at March 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2019
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	—		$	—		$	—	$	—	$	(0.5)		$	4.2	$	—		$	3.7

Residential mortgage-backed securities	13.1			—			0.2		—		(0.5)			—		(0.3)			12.5
Commercial mortgage-backed securities	61.8			—			0.6		5.1		(0.1)			—		(1.0)			66.4
Asset-backed securities	472.1			(1.6)			4.7		39.9		(102.5)			—		—			412.6
Corporate and other	198.5			(0.1)			(6.0)		15.8		(12.9)			—		(37.2)			158.1
Total fixed maturity securities	745.5			(1.7)			(0.5)		60.8		(116.5)			4.2		(38.5)			653.3
Equity securities
Common stocks	6.1			—			—		—		(1.0)			—		(0.2)			4.9
Perpetual preferred stocks	55.1			(3.4)			—		2.5		—			3.0		(0.1)			57.1
Total equity securities	61.2			(3.4)			—		2.5		(1.0)			3.0		(0.3)			62.0


Total financial assets	$	806.7		$	(5.1)		$	(0.5)	$	63.3	$	(117.5)		$	7.2	$	(38.8)		$	715.3


			Total realized/unrealized (gains) losses included in
	Balance at March 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2019
Liabilities

Embedded derivatives	$	6.1		$	(3.2)		$	—	$	—	$	—		$	—	$	—		$	2.9

Other	2.7			(0.3)			—		3.0		—			—		—			5.4
Total financial liabilities	$	8.8		$	(3.5)		$	—	$	3.0	$	—		$	—	$	—		$	8.3


			Total realized/unrealized gains (losses) included in
	Balance at December 31, 2018			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2019
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	—		$	—		$	—	$	—	$	(0.5)		$	4.2	$	—		$	3.7

Residential mortgage-backed securities	19.0			—			0.3		—		(0.8)			—		(6.0)			12.5
Commercial mortgage-backed securities	58.2			—			2.1		7.5		(0.5)			—		(0.9)			66.4
Asset-backed securities	478.2			(1.6)			18.0		88.5		(176.1)			5.6		—			412.6
Corporate and other	85.0			(0.1)			2.3		20.4		(17.5)			105.0		(37.0)			158.1
Total fixed maturity securities	640.4			(1.7)			22.7		116.4		(195.4)			114.8		(43.9)			653.3
Equity securities
Common stocks	5.9			0.2			—		—		(1.0)			—		(0.2)			4.9
Perpetual preferred stocks	55.3			(3.7)			—		2.5		—			3.0		—			57.1
Total equity securities	61.2			(3.5)			—		2.5		(1.0)			3.0		(0.2)			62.0


Total financial assets	$	701.6		$	(5.2)		$	22.7	$	118.9	$	(196.4)		$	117.8	$	(44.1)		$	715.3


			Total realized/unrealized (gains) losses included in
	Balance at December 31, 2018			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Liabilities

Embedded derivatives	$	8.4		$	(5.5)		$	—	$	—	$	—		$	—	$	—		$	2.9

Other	3.5			(1.1)			—		3.0		—			—		—			5.4
Total financial liabilities	$	11.9		$	(6.6)		$	—	$	3.0	$	—		$	—	$	—		$	8.3

Schedule of Financial Instruments Measured at Fair Value on Nonrecurring Basis

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 and cash equivalents, accounts receivable, accounts payable and other current liabilities, and other assets and liabilities approximate fair value due to relatively short periods to maturity (in millions):


June 30, 2020							Fair Value Measurement Using:
			Carrying Value			Estimated Fair Value			Level 1			Level 2			Level 3
Assets
Mortgage loans	$	128.8		$	128.8		$	—		$	—		$	128.8
Policy loans	18.5			18.5			—			18.5			—
Other invested assets	11.3			11.3			—			—			11.3
Total assets not accounted for at fair value	$	158.6		$	158.6		$	—		$	18.5		$	140.1
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	230.2		$	227.5		$	—		$	—		$	227.5
Long-term obligations ⁽²⁾	632.5			639.0			—			639.0			—
Total liabilities not accounted for at fair value	$	862.7		$	866.5		$	—		$	639.0		$	227.5


December 31, 2019							Fair Value Measurement Using:
			Carrying Value			Estimated Fair Value			Level 1			Level 2			Level 3
Assets
Mortgage loans	$	183.5		$	183.5		$	—		$	—		$	183.5
Policy loans	19.1			19.1			—			19.1			—

Total assets not accounted for at fair value	$	202.6		$	202.6		$	—		$	19.1		$	183.5
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	233.9		$	231.0		$	—		$	—		$	231.0
Long-term obligations ⁽²⁾	772.0			768.9			—			768.9			—
Total liabilities not accounted for at fair value	$	1,005.9		$	999.9		$	—		$	768.9		$	231.0

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 299.4	$ 400.5	$ 682.8	$ 763.0
Life, accident and health earned premiums, net	29.6	29.9	58.2	59.8
Net investment income	48.5	50.3	100.4	101.4
Net realized and unrealized gains (losses) on investments	(0.5)	(1.5)	(19.6)	4.0
Net revenue	377.0	479.2	821.8	928.2
Operating expenses
Cost of revenue	262.1	350.6	608.2	675.1
Policy benefits, changes in reserves, and commissions	63.0	48.0	135.4	100.7
Selling, general and administrative	48.1	46.2	100.4	93.1
Depreciation and amortization	1.1	1.2	1.7	1.5
Other operating income	(2.2)	(0.4)	(2.0)	(1.4)
Total operating expenses	372.1	445.6	843.7	869.0
Income (loss) from operations	4.9	33.6	(21.9)	59.2
Interest expense	(21.4)	(19.1)	(42.7)	(37.9)
(Loss) income from equity investees	(0.2)	7.2	(2.7)	1.3
Gain on bargain purchase	0.0	1.1	0.0	1.1
Other income (loss)	64.0	(4.8)	66.8	(1.4)
Income (loss) from continuing operations before income taxes	43.9	18.0	(9.7)	22.3
Income tax expense	(15.4)	(1.1)	(2.8)	(5.1)
Income (loss) from continuing operations	28.5	16.9	(12.5)	17.2
Less: Loss from discontinued operations, net of tax	0.0	(7.7)	(60.0)	(14.3)
Net income (loss)	28.5	9.2	(72.5)	2.9
Net (income) loss attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)	0.2	2.5	3.7
Net income (loss) attributable to HC2 Holdings, Inc.	13.1	9.4	(70.0)	6.6
Less: Preferred dividends, deemed dividends and repurchase gains	0.4	0.4	0.8	(0.8)
Net income (loss) attributable to common stock and participating preferred stockholders	$ 12.7	$ 9.0	$ (70.8)	$ 7.4
Income (loss) per share - continuing operations
Net (loss) income attributable to continuing operations - basic (in usd per share)	$ 0.26	$ 0.34	$ (0.56)	$ 0.42
Net (loss) income attributable to continuing operations - diluted (in usd per share)	0.26	0.24	(0.56)	0.28
Loss per share - discontinued operations
Basic (in usd per share)	0	(0.15)	(0.97)	(0.27)
Diluted (in usd per share)	0	(0.12)	(0.97)	(0.20)
Income (loss) per share - Net income (loss) attributable to participating securities
Basic (in usd per share)	0.26	0.19	(1.53)	0.15
Diluted (in usd per share)	$ 0.26	$ 0.12	$ (1.53)	$ 0.08
Weighted average common shares outstanding:
Basic (in shares)	46.8	45.6	46.3	45.2
Diluted (in shares)	46.9	58.1	46.3	59.9
Loss on sale of subsidiary	$ 0.0	$ 0.0	$ 39.3	$ 0.0

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
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)	47,660,135	46,810,676
Common stock, shares outstanding (in shares)	46,550,384	46,067,852
Treasury stock (in shares)	1,109,751	742,824

Summary of Significant Accounting Policies - Schedule of Cash and Cash Equivalents (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cash and cash equivalents	$ 203.8	$ 271.2	$ 228.8	$ 315.9
Restricted cash included in other assets	1.5	1.5	1.6	5.4
Total cash and cash equivalents and restricted cash	205.3	272.7	$ 230.4	$ 321.3
Supplemental cash flow information:
Cash paid for interest	34.1	32.7
Cash paid for taxes, net of (refunds)	7.8	3.6
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable	5.2	6.0
Investments included in accounts receivable	20.0	9.7
Investments included in accounts payable	$ 8.6	$ 31.6

Investments - Other than Temporary Impairment, Credit Losses Recognized in Earnings (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Total other-than-temporary impairments	$ 0.1	$ 0.0	$ 1.0	$ 0.0
Net realized and unrealized gains on investments
Debt Securities, Available-for-sale [Line Items]
Total other-than-temporary impairments	0.1	0.0	0.9	0.0
Other income (expenses), net
Debt Securities, Available-for-sale [Line Items]
Total other-than-temporary impairments	$ 0.0	$ 0.0	$ 0.1	$ 0.0

Basic and Diluted Income Per Common Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Basic and Diluted Income Per Common Share

21. Basic and Diluted Income Per Common Share

Earnings per 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 as this measurement was determined to be more dilutive between the two available methods in each period.

The following potential weighted common shares were excluded from diluted EPS for the three months ended June 30, 2020 due to the antidilutive impact to diluted EPS: 2,168,454 for outstanding warrants to purchase the Company's stock, 2,094,585 for convertible preferred stock, and 12,557,078 for convertible debt. The Company had zero dilutive common share equivalents during the six months ended June 30, 2020 due to the results being a loss from continuing operations and discontinued operations, net of tax.

The following potential weighted common shares were excluded from diluted EPS for the three months ended June 30, 2019 due to the antidilutive impact to diluted EPS: 2,168,454 for outstanding warrants to purchase the Company's stock, 2,088,567 for convertible preferred stock, and 582,422 of unvested restricted stock. The following potential weighted common shares were excluded from diluted EPS for the six months ended June 30, 2019 due to the antidilutive impact to diluted EPS: 2,168,454 for outstanding warrants to purchase the Company's stock, and 486,627 of unvested restricted stock.

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


	Three Months Ended June 30,									Six Months Ended June 30,
	2020			2019			2020			2019

Income (loss) from continuing operations	$	28.5		$	16.9		$	(12.5)		$	17.2
Income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)			(0.2)			(12.8)			2.2
Income (loss) from continuing operations attributable to the Company	13.1			16.7			(25.3)			19.4
Less: Preferred dividends, deemed dividends and repurchase gains	0.4			0.4			0.8			(0.8)
Income (loss) from continuing operations attributable to HC2 common stockholders	12.7			16.3			(26.1)			20.2
Loss from discontinued operations (including loss on disposal of $39.3 million)	—			(7.7)			(60.0)			(14.3)
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	—			0.4			15.3			1.5
Loss from discontinued operations, net of tax and noncontrolling interest	—			(7.3)			(44.7)			(12.8)
Net income (loss) attributable to common stock and participating preferred stockholders	$	12.7		$	9.0		$	(70.8)		$	7.4

Earnings allocable to common shares:
Participating shares at end of period:
Weighted-average common stock outstanding	46.8			45.6			46.3			45.2
Unvested restricted stock	0.3			0.6			0.4			0.5
Preferred stock (as-converted basis)	2.1			2.1			2.1			2.2
Total	49.2			48.3			48.8			47.9

Percentage of income (loss) allocated to:
Common stock	95.1		%	94.5		%	100.0		%	94.4		%
Unvested restricted stock	0.6		%	1.2		%	—		%	1.0		%
Preferred stock	4.3		%	4.3		%	—		%	4.6		%

Numerator for earnings per share, basic:
Net income (loss) from continuing operations attributable to common stock, basic	$	12.1		$	15.4		$	(26.1)		$	19.1
Net loss from discontinued operations attributable to common stock, basic and diluted	$	—		$	(6.9)		$	(44.7)		$	(12.1)
Net income (loss) attributable to common stock and participating preferred stockholders, basic and diluted	$	12.1		$	8.5		$	(70.8)		$	7.0

Earnings allocable to common shares, diluted:
Numerator for earnings per share, diluted
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	$	—		$	(1.4)		$	—		$	(2.4)


Net income (loss) from continuing operations attributable to common stock, diluted	$	12.1		$	14.0		$	(26.1)		$	16.7
Net loss from discontinued operations attributable to common stock, diluted	$	—		$	(6.9)		$	(44.7)		$	(12.1)
Net income (loss) attributable to common stock and participating preferred stockholders, diluted	$	12.1		$	7.1		$	(70.8)		$	4.6

Denominator for basic and dilutive earnings per share:
Weighted average common shares outstanding - basic	46.8			45.6			46.3			45.2
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	0.1			12.5			—			14.7
Weighted average common shares outstanding - diluted	46.9			58.1			46.3			59.9

Income (loss) per share - continuing operations
Basic:	$	0.26		$	0.34		$	(0.56)		$	0.42
Diluted:	$	0.26		$	0.24		$	(0.56)		$	0.28

Loss per share - Discontinued operations
Basic:	$	—		$	(0.15)		$	(0.97)		$	(0.27)
Diluted:	$	—		$	(0.12)		$	(0.97)		$	(0.20)

Income (loss) per share - Net income (loss) attributable to participating security holders
Basic:	$	0.26		$	0.19		$	(1.53)		$	0.15
Diluted:	$	0.26		$	0.12		$	(1.53)		$	0.08

Acquisitions, Dispositions, and Deconsolidations - Other Segments (Details) - USD ($) $ in Thousands			1 Months Ended		3 Months Ended		6 Months Ended
	Feb. 28, 2020	Oct. 30, 2019	May 31, 2020	Jan. 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jan. 30, 2020
Business Acquisition [Line Items]
Dispositions					$ (700)	$ 0	$ 22,100	$ 0
Cash received from dispositions, net							144,000	0
Loss on sale of subsidiary					0	0	(39,300)	0
Gain on sale of equity method investments					$ 71,100	$ 0	71,100	$ 0
Huawei Marine Networks
Business Acquisition [Line Items]
Consideration to be received		$ 285,000
Marine Services
Business Acquisition [Line Items]
Dispositions	$ (31,300)
Ownership percentage before sale of stock				100.00%
Consideration to be received		$ 140,000								$ 250,000
Potential earn-out, maximum										12,500
Consideration held in escrow for future losses payable										1,250
Consideration held of escrow for purchase price adjustment										1,910
Consideration to be paid on the earlier of December 31, 2020 or the date on which a cash collateralized bond in connection with Company's bonding facility is released										$ 2,400
Cash received from dispositions, net	144,000						85,500
Proceeds from divestiture of businesses	98,600
Loss on sale of subsidiary	(39,300)		$ 31,800
Proceeds from divestiture of businesses,	3,100
Gain on sale of equity method investments							71,100
Foreign tax expense							7,200
Marine Services \| Put Option
Business Acquisition [Line Items]
Gain on sale of equity method investments							11,300
Marine Services \| Non- controlling Interest
Business Acquisition [Line Items]
Cash received from dispositions, net							17,500
Cash Divested from Deconsolidation	36,800
Marine Services \| Noncontrolling Interest Redeemable
Business Acquisition [Line Items]
Cash received from dispositions, net							$ 2,100
Cash Divested from Deconsolidation	$ 5,500
Marine Services
Business Acquisition [Line Items]
Parents interest, controlling		49.00%			30.00%		30.00%
New Saxon 2019 Limited
Business Acquisition [Line Items]
Parents interest, controlling					19.00%		19.00%		30.00%	73.00%
Huawei Marine Networks
Business Acquisition [Line Items]
Ownership percentage before sale of stock		49.00%

Investments - Net Investment Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net Investment Income [Line Items]
Gross investment income	$ 48.8	$ 50.5	$ 101.1	$ 101.9
External investment expense	(0.3)	(0.2)	(0.7)	(0.5)
Net investment income	48.5	50.3	100.4	101.4
Total fixed maturity securities
Net Investment Income [Line Items]
Gross investment income	45.0	43.7	90.6	87.3
Equity securities
Net Investment Income [Line Items]
Gross investment income	0.8	2.1	1.9	4.6
Mortgage loans
Net Investment Income [Line Items]
Gross investment income	3.2	3.1	8.5	6.8
Policy loans
Net Investment Income [Line Items]
Gross investment income	0.3	0.2	0.6	0.6
Other invested assets
Net Investment Income [Line Items]
Gross investment income	$ (0.5)	$ 1.4	$ (0.5)	$ 2.6

Basic and Diluted Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2020

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 millions, except per share amounts):


	Three Months Ended June 30,									Six Months Ended June 30,
	2020			2019			2020			2019

Income (loss) from continuing operations	$	28.5		$	16.9		$	(12.5)		$	17.2
Income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)			(0.2)			(12.8)			2.2
Income (loss) from continuing operations attributable to the Company	13.1			16.7			(25.3)			19.4
Less: Preferred dividends, deemed dividends and repurchase gains	0.4			0.4			0.8			(0.8)
Income (loss) from continuing operations attributable to HC2 common stockholders	12.7			16.3			(26.1)			20.2
Loss from discontinued operations (including loss on disposal of $39.3 million)	—			(7.7)			(60.0)			(14.3)
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	—			0.4			15.3			1.5
Loss from discontinued operations, net of tax and noncontrolling interest	—			(7.3)			(44.7)			(12.8)
Net income (loss) attributable to common stock and participating preferred stockholders	$	12.7		$	9.0		$	(70.8)		$	7.4

Earnings allocable to common shares:
Participating shares at end of period:
Weighted-average common stock outstanding	46.8			45.6			46.3			45.2
Unvested restricted stock	0.3			0.6			0.4			0.5
Preferred stock (as-converted basis)	2.1			2.1			2.1			2.2
Total	49.2			48.3			48.8			47.9

Percentage of income (loss) allocated to:
Common stock	95.1		%	94.5		%	100.0		%	94.4		%
Unvested restricted stock	0.6		%	1.2		%	—		%	1.0		%
Preferred stock	4.3		%	4.3		%	—		%	4.6		%

Numerator for earnings per share, basic:
Net income (loss) from continuing operations attributable to common stock, basic	$	12.1		$	15.4		$	(26.1)		$	19.1
Net loss from discontinued operations attributable to common stock, basic and diluted	$	—		$	(6.9)		$	(44.7)		$	(12.1)
Net income (loss) attributable to common stock and participating preferred stockholders, basic and diluted	$	12.1		$	8.5		$	(70.8)		$	7.0

Earnings allocable to common shares, diluted:
Numerator for earnings per share, diluted
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	$	—		$	(1.4)		$	—		$	(2.4)


Net income (loss) from continuing operations attributable to common stock, diluted	$	12.1		$	14.0		$	(26.1)		$	16.7
Net loss from discontinued operations attributable to common stock, diluted	$	—		$	(6.9)		$	(44.7)		$	(12.1)
Net income (loss) attributable to common stock and participating preferred stockholders, diluted	$	12.1		$	7.1		$	(70.8)		$	4.6

Denominator for basic and dilutive earnings per share:
Weighted average common shares outstanding - basic	46.8			45.6			46.3			45.2
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	0.1			12.5			—			14.7
Weighted average common shares outstanding - diluted	46.9			58.1			46.3			59.9

Income (loss) per share - continuing operations
Basic:	$	0.26		$	0.34		$	(0.56)		$	0.42
Diluted:	$	0.26		$	0.24		$	(0.56)		$	0.28

Loss per share - Discontinued operations
Basic:	$	—		$	(0.15)		$	(0.97)		$	(0.27)
Diluted:	$	—		$	(0.12)		$	(0.97)		$	(0.20)

Income (loss) per share - Net income (loss) attributable to participating security holders
Basic:	$	0.26		$	0.19		$	(1.53)		$	0.15
Diluted:	$	0.26		$	0.12		$	(1.53)		$	0.08

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

7. Fair Value of Financial Instruments

Assets by Hierarchy Level

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


June 30, 2020				Fair Value Measurement Using:
			Total			Level 1			Level 2			Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	8.5		$	5.5		$	3.0		$	—
States, municipalities and political subdivisions	436.7			—			433.7			3.0

Residential mortgage-backed securities	59.7			—			50.1			9.6
Commercial mortgage-backed securities	91.2			—			40.1			51.1
Asset-backed securities	531.5			—			28.7			502.8
Corporate and other	2,988.7			37.9			2,808.2			142.6
Total fixed maturity securities	4,116.3			43.4			3,363.8			709.1
Equity securities
Common stocks	5.8			4.3			—			1.5
Perpetual preferred stocks	68.0			4.7			19.4			43.9
Total equity securities	73.8			9.0			19.4			45.4


Total assets accounted for at fair value	$	4,190.1		$	52.4		$	3,383.2		$	754.5


Liabilities
Embedded derivative	$	8.7	$	—	$	—	$	8.7
Other	3.9		—		—		3.9
Total liabilities accounted for at fair value	$	12.6	$	—	$	—	$	12.6


December 31, 2019				Fair Value Measurement Using:
			Total			Level 1			Level 2			Level 3
Assets
Fixed maturity securities
U.S. Government and government agencies	$	7.7		$	4.8		$	2.9		$	—
States, municipalities and political subdivisions	440.1			—			440.1			—

Residential mortgage-backed securities	66.9			—			57.7			9.2
Commercial mortgage-backed securities	109.4			—			74.8			34.6
Asset-backed securities	577.8			—			27.2			550.6
Corporate and other	2,827.0			46.5			2,669.5			111.0
Total fixed maturity securities	4,028.9			51.3			3,272.2			705.4
Equity securities
Common stocks	10.5			7.1			—			3.4
Perpetual preferred stocks	82.0			5.0			22.8			54.2
Total equity securities	92.5			12.1			22.8			57.6


Total assets accounted for at fair value	$	4,121.4		$	63.4		$	3,295.0		$	763.0


Liabilities
Embedded Derivatives	$	3.0	$	—	$	—	$	3.0
Other	4.8		—		—		4.8
Total liabilities accounted for at fair value	$	7.8	$	—	$	—	$	7.8

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 at the beginning fair value for the reporting period in which the changes occur. 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 into Level 3 of $54.1 million during the six months ended June 30, 2020. The Company’s assessment resulted in a net transfer into Level 3 of $73.7 million during the six months ended June 30, 2019.

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 maturities, 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.

Level 3 Measurements and Transfers


			Total realized/unrealized gains (losses) included in
	March 31, 2020			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	9.0		$	0.1		$	1.9	$	—	$	—		$	3.0	$	(11.0)		$	3.0

Residential mortgage-backed securities	13.0			—			0.3		—		(0.8)			—		(2.9)			9.6
Commercial mortgage-backed securities	34.2			0.1			(8.1)		—		—			24.9		—			51.1
Asset-backed securities	285.5			(5.9)			65.6		—		(34.2)			191.8		—			502.8
Corporate and other	168.7			(0.1)			7.5		3.2		(2.8)			4.8		(38.7)			142.6
Total fixed maturity securities	510.4			(5.8)			67.2		3.2		(37.8)			224.5		(52.6)			709.1
Equity securities
Common stocks	3.4			(1.9)			—		—		—			—		—			1.5
Perpetual preferred stocks	38.2			2.3			1.7		—		—			1.7		—			43.9
Total equity securities	41.6			0.4			1.7		—		—			1.7		—			45.4


Total financial assets	$	552.0		$	(5.4)		$	68.9	$	3.2	$	(37.8)		$	226.2	$	(52.6)		$	754.5


			Total realized/unrealized (gains) losses included in
	Balance at March 31, 2020			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances			Sales and settlements			Transfer to Level 3			Transfer out of Level 3			Balance at June 30, 2020
Liabilities
Embedded derivative	$	0.7		$	8.0		$	—	$	—		$	—		$	—		$	—		$	8.7
Other	3.7			0.2			—		—			—			—			—			3.9



Total financial liabilities	$	4.4		$	8.2		$	—	$	—		$	—		$	—		$	—		$	12.6


			Total realized/unrealized gains (losses) included in
	Balance at December 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	—		$	0.2		$	0.9	$	—	$	—		$	12.9	$	(11.0)		$	3.0

Residential mortgage-backed securities	9.2			—			(1.6)		—		(1.5)			6.8		(3.3)			9.6
Commercial mortgage-backed securities	34.6			0.1			(13.4)		—		(0.2)			30.0		—			51.1
Asset-backed securities	550.6			(5.9)			(27.7)		60.0		(85.7)			191.8		(180.3)			502.8
Corporate and other	111.0			(0.2)			(5.5)		35.9		(4.1)			45.5		(40.0)			142.6
Total fixed maturity securities	705.4			(5.8)			(47.3)		95.9		(91.5)			287.0		(234.6)			709.1
Equity securities
Common stocks	3.4			(1.9)			—		—		—			—		—			1.5
Perpetual preferred stocks	54.2			2.3			(14.3)		—		—			1.7		—			43.9
Total equity securities	57.6			0.4			(14.3)		—		—			1.7		—			45.4


Total financial assets	$	763.0		$	(5.4)		$	(61.6)	$	95.9	$	(91.5)		$	288.7	$	(234.6)		$	754.5


			Total realized/unrealized (gains) losses included in
	Balance at December 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Liabilities
Embedded derivative	$	3.0		$	5.7		$	—	$	—	$	—		$	—	$	—		$	8.7
Other	4.8			(0.9)			—		—		—			—		—			3.9



Total financial liabilities	$	7.8		$	4.8		$	—	$	—	$	—		$	—	$	—		$	12.6


			Total realized/unrealized gains (losses) included in
	Balance at March 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2019
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	—		$	—		$	—	$	—	$	(0.5)		$	4.2	$	—		$	3.7

Residential mortgage-backed securities	13.1			—			0.2		—		(0.5)			—		(0.3)			12.5
Commercial mortgage-backed securities	61.8			—			0.6		5.1		(0.1)			—		(1.0)			66.4
Asset-backed securities	472.1			(1.6)			4.7		39.9		(102.5)			—		—			412.6
Corporate and other	198.5			(0.1)			(6.0)		15.8		(12.9)			—		(37.2)			158.1
Total fixed maturity securities	745.5			(1.7)			(0.5)		60.8		(116.5)			4.2		(38.5)			653.3
Equity securities
Common stocks	6.1			—			—		—		(1.0)			—		(0.2)			4.9
Perpetual preferred stocks	55.1			(3.4)			—		2.5		—			3.0		(0.1)			57.1
Total equity securities	61.2			(3.4)			—		2.5		(1.0)			3.0		(0.3)			62.0


Total financial assets	$	806.7		$	(5.1)		$	(0.5)	$	63.3	$	(117.5)		$	7.2	$	(38.8)		$	715.3


			Total realized/unrealized (gains) losses included in
	Balance at March 31, 2019			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2019
Liabilities

Embedded derivatives	$	6.1		$	(3.2)		$	—	$	—	$	—		$	—	$	—		$	2.9

Other	2.7			(0.3)			—		3.0		—			—		—			5.4
Total financial liabilities	$	8.8		$	(3.5)		$	—	$	3.0	$	—		$	—	$	—		$	8.3


			Total realized/unrealized gains (losses) included in
	Balance at December 31, 2018			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2019
Assets
Fixed maturity securities

States, municipalities and political subdivisions	$	—		$	—		$	—	$	—	$	(0.5)		$	4.2	$	—		$	3.7

Residential mortgage-backed securities	19.0			—			0.3		—		(0.8)			—		(6.0)			12.5
Commercial mortgage-backed securities	58.2			—			2.1		7.5		(0.5)			—		(0.9)			66.4
Asset-backed securities	478.2			(1.6)			18.0		88.5		(176.1)			5.6		—			412.6
Corporate and other	85.0			(0.1)			2.3		20.4		(17.5)			105.0		(37.0)			158.1
Total fixed maturity securities	640.4			(1.7)			22.7		116.4		(195.4)			114.8		(43.9)			653.3
Equity securities
Common stocks	5.9			0.2			—		—		(1.0)			—		(0.2)			4.9
Perpetual preferred stocks	55.3			(3.7)			—		2.5		—			3.0		—			57.1
Total equity securities	61.2			(3.5)			—		2.5		(1.0)			3.0		(0.2)			62.0


Total financial assets	$	701.6		$	(5.2)		$	22.7	$	118.9	$	(196.4)		$	117.8	$	(44.1)		$	715.3


			Total realized/unrealized (gains) losses included in
	Balance at December 31, 2018			Net earnings (loss)		Other comp. income (loss)					Purchases and issuances		Sales and settlements					Transfer to Level 3			Transfer out of Level 3	Balance at June 30, 2020
Liabilities

Embedded derivatives	$	8.4		$	(5.5)		$	—	$	—	$	—		$	—	$	—		$	2.9

Other	3.5			(1.1)			—		3.0		—			—		—			5.4
Total financial liabilities	$	11.9		$	(6.6)		$	—	$	3.0	$	—		$	—	$	—		$	8.3

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


June 30, 2020							Fair Value Measurement Using:
			Carrying Value			Estimated Fair Value			Level 1			Level 2			Level 3
Assets
Mortgage loans	$	128.8		$	128.8		$	—		$	—		$	128.8
Policy loans	18.5			18.5			—			18.5			—
Other invested assets	11.3			11.3			—			—			11.3
Total assets not accounted for at fair value	$	158.6		$	158.6		$	—		$	18.5		$	140.1
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	230.2		$	227.5		$	—		$	—		$	227.5
Long-term obligations ⁽²⁾	632.5			639.0			—			639.0			—
Total liabilities not accounted for at fair value	$	862.7		$	866.5		$	—		$	639.0		$	227.5


December 31, 2019							Fair Value Measurement Using:
			Carrying Value			Estimated Fair Value			Level 1			Level 2			Level 3
Assets
Mortgage loans	$	183.5		$	183.5		$	—		$	—		$	183.5
Policy loans	19.1			19.1			—			19.1			—

Total assets not accounted for at fair value	$	202.6		$	202.6		$	—		$	19.1		$	183.5
Liabilities
Annuity benefits accumulated ⁽¹⁾	$	233.9		$	231.0		$	—		$	—		$	231.0
Long-term obligations ⁽²⁾	772.0			768.9			—			768.9			—
Total liabilities not accounted for at fair value	$	1,005.9		$	999.9		$	—		$	768.9		$	231.0

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

⁽²⁾ Excludes certain lease obligations accounted for under ASC 842, 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.

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

Long-term Obligations. The fair value of the Company’s long-term 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

Revenue - Broadcasting Segment Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 299.4	$ 400.5	$ 682.8	$ 763.0
Net revenue	377.0	479.2	821.8	928.2
Broadcasting
Segment Reporting Information [Line Items]
Revenue	9.5	10.0	19.6	19.8
Other revenue	0.0	0.0	0.0	0.0
Net revenue	9.5	10.0	19.6	19.8
Network advertising \| Broadcasting
Segment Reporting Information [Line Items]
Revenue	4.0	5.4	9.0	10.8
Broadcast station \| Broadcasting
Segment Reporting Information [Line Items]
Revenue	3.8	2.9	7.3	5.6
Network distribution \| Broadcasting
Segment Reporting Information [Line Items]
Revenue	1.0	1.2	2.1	2.7
Other \| Broadcasting
Segment Reporting Information [Line Items]
Revenue	$ 0.7	$ 0.5	$ 1.2	$ 0.7

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accounts Receivable, net (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Receivables [Abstract]
Contracts in progress	$ 125.3	$ 177.8
Trade receivables	51.7	60.6
Unbilled retentions	63.9	53.9
Other receivables	21.8	21.0
Allowance for doubtful accounts	(1.5)	(1.5)
Total accounts receivable, net	$ 261.2	$ 311.8

Goodwill and Intangibles, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 2.0	$ 2.9	$ 4.0	$ 6.0
Negative amortization	$ 26.4		$ 26.4		$ 22.5

Fair Value of Financial Instruments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers, net	$ 54.1	$ 73.7
Level 3 \| Assets, Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Percent of total assets (less than)	1.00%

Operating Segment and Related Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2020 segment
Segment Reporting [Abstract]
Number of reportable geographic segments	1
Number of reportable operating segments	7

Basic and Diluted Income Per Common Share - Basic Income (Loss) Per Common Share to Diluted Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ 28.5	$ 16.9	$ (12.5)	$ 17.2
Income (loss) attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)	(0.2)	(12.8)	2.2
Income (loss) from continuing operations attributable to the Company	13.1	16.7	(25.3)	19.4
Less: Preferred dividends, deemed dividends and repurchase gains	0.4	0.4	0.8	(0.8)
Income (loss) from continuing operations attributable to HC2 common stockholders	12.7	16.3	(26.1)	20.2
Loss from discontinued operations	0.0	(7.7)	(60.0)	(14.3)
Net income attributable to noncontrolling interest and redeemable noncontrolling interest	0.0	0.4	15.3	1.5
Loss from discontinued operations, net of tax and noncontrolling interest	0.0	(7.3)	(44.7)	(12.8)
Net income (loss) attributable to common stock and participating preferred stockholders	$ 12.7	$ 9.0	$ (70.8)	$ 7.4
Participating shares at end of period:
Weighted-average Common stock outstanding (in shares)	46.8	45.6	46.3	45.2
Unvested restricted stock (in shares)	0.3	0.6	0.4	0.5
Preferred stock (as-converted basis) (in shares)	2.1	2.1	2.1	2.2
Total (in shares)	49.2	48.3	48.8	47.9
Percentage of income (loss) allocated to:
Common stock	95.10%	94.50%	100.00%	94.40%
Unvested restricted stock	0.60%	1.20%	0.00%	1.00%
Preferred stock	4.30%	4.30%	0.00%	4.60%
Net income (loss) from continuing operations attributable to common stock, basic	$ 12.1	$ 15.4	$ (26.1)	$ 19.1
Net loss from discontinued operations attributable to common stock, basic and diluted	0.0	(6.9)	(44.7)	(12.1)
Net income (loss) attributable to common stock and participating preferred stockholders, basic and diluted	12.1	8.5	(70.8)	7.0
Earnings allocable to common shares, diluted:
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments	0.0	(1.4)	0.0	(2.4)
Net income (loss) from continuing operations attributable to common stock, diluted	12.1	14.0	(26.1)	16.7
Net loss from discontinued operations attributable to common stock, diluted	0.0	(6.9)	(44.7)	(12.1)
Net income (loss) attributable to common stock and participating preferred stockholders, diluted	$ 12.1	$ 7.1	$ (70.8)	$ 4.6
Denominator for basic and dilutive earnings per share:
Weighted-average Common stock outstanding (in shares)	46.8	45.6	46.3	45.2
Effect of assumed shares under treasury stock method for stock options and restricted shares and if-converted method for convertible instruments (in shares)	0.1	12.5	0.0	14.7
Diluted (in shares)	46.9	58.1	46.3	59.9
Income (loss) per share - continuing operations
Net (loss) income attributable to continuing operations - basic (in usd per share)	$ 0.26	$ 0.34	$ (0.56)	$ 0.42
Net (loss) income attributable to participating security holders - diluted (in dollars per share)	0.26	0.24	(0.56)	0.28
Loss per share - discontinued operations
Basic (in usd per share)	0	(0.15)	(0.97)	(0.27)
Diluted (in usd per share)	0	(0.12)	(0.97)	(0.20)
Income (loss) per share - Net income (loss) attributable to participating securities
Basic (in usd per share)	0.26	0.19	(1.53)	0.15
Diluted (in usd per share)	$ 0.26	$ 0.12	$ (1.53)	$ 0.08
Loss on sale of subsidiary	$ 0.0	$ 0.0	$ (39.3)	$ 0.0

Discontinued Operations (Details) - USD ($)		1 Months Ended	3 Months Ended		6 Months Ended
Discontinued Operations (Details) - USD ($)	Feb. 28, 2020	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Mar. 02, 2020	Jan. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of subsidiary			$ 0	$ 0	$ (39,300,000)	$ 0
Disposal of subsidiary			700,000	0	(22,100,000)	0
Interest expense			$ 21,400,000	19,100,000	42,700,000	37,900,000
Amortization of (discount) premium on investments					$ 4,100,000	3,900,000
New Saxon 2019 Limited
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Parents interest, controlling			19.00%		19.00%		30.00%		73.00%
Marine Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of subsidiary	$ (39,300,000)	$ 31,800,000
Disposal of subsidiary	31,300,000
Secured Indenture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Debt instrument, amount redeemed								$ 76,900,000
Interest expense				2,200,000	$ 2,200,000	4,400,000
Secured Indenture \| Marine Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense			$ 0
Revolving Credit Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Face amount	$ 15,000,000.0						$ 15,000,000.0
Interest expense				$ 200,000	$ 200,000	$ 200,000
Revolving Credit Agreement \| Marine Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense			$ 0

Acquisitions, Dispositions, and Deconsolidations - Broadcasting Acquisitions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Broadcasting
Business Acquisition [Line Items]
Consideration paid	$ 71.4

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

16. Commitments and Contingencies

Future minimum purchase obligations as of December 31, 2019 were as follows (in millions):


2020	$	86.3
2021	3.3
2022	0.2
2023	0.2
2024	0.2
Thereafter	—
Total obligations	$	90.2

As of December 31, 2019, undiscounted cash flows for finance and operating leases are as follows (in millions):


	Operating Leases		Finance Leases
2020	$	15.1	$	1.0
2021	13.4		0.7
2022	10.9		0.1
2023	8.8		—
2024	6.6		—
Thereafter	8.2		—
Total future lease payments	63.0		1.8
Less: Present values	(9.3)		(0.1)
Total lease liability balance	$	53.7	$	1.7

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 Condensed 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 Condensed Consolidated Financial Statements. The Company records a liability in its Condensed 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 Condensed 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 Condensed Consolidated Financial Statements.

Based on a review of the current facts and circumstances with counsel in each of the matters disclosed, management has provided for what is believed to be a reasonable estimate of loss exposure. While acknowledging the uncertainties of litigation, management believes that the ultimate outcome of litigation will not have a material effect on its financial position and will defend itself vigorously.

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 (the "Court"), 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, 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 November 15, 2019, the parties filed definitive documentation in support of a proposed settlement of the action. On January 14, 2020, plaintiff filed an amended complaint restating and elaborating on the claims raised in the Complaint (the "Amended Complaint"). The Amended Complaint seeks compensatory and rescissory damages, as well as attorney’s fees and other relief.

On February 13, 2020, the Court held a settlement hearing to consider the proposed settlement and certain objections filed by two current DBMG stockholders. The Court expressed concerns about certain terms of the proposed settlement and the parties requested additional time to evaluate potential modifications to the proposed settlement. On May 8, 2020, the parties filed with the Court a revised settlement agreement for all claims relating to the Amended Complaint (the “Revised Settlement Framework”).

The Revised Settlement Framework provides for a settlement payment of $35.95 per share to a fund for the benefit of the former DBMG stockholders who tendered their shares in the 2014 tender offer other than stockholders who were defendants in the action or their immediate family members, officers of DBMG, or directors or officers of HC2 (the “Tendered Stockholders”). After the filing of the revised settlement papers on May 8, 2020, HC2 determined that the Tendered Stockholders subclass includes approximately 300 more shares than previously reported due to additional detail HC2 received regarding the number of shares excluded from the subclass. This adjustment increases the settlement payment to the Tendered Stockholders by approximately eleven thousand dollars. In total, the proposed settlement payment to the Tendered Stockholders applies to approximately 568,850 shares and totals approximately $20.4 million. The Revised Settlement Framework provides that the amount received by the Tendered Stockholders will be reduced by the per share amount of any fee award to lead plaintiff’s counsel. HC2’s D&O insurers have agreed to contribute approximately $12.34 million of this approximately $20.4 million settlement payment, and DBMG has agreed to fund the remaining approximately $8.06 million either through cash on hand or borrowing from a third-party lender.

The Revised Settlement Framework also provides that HC2 will fund two types of payments to the current owners of the 289,902 shares of DBMG common stock not owned by HC2 or its affiliates (the “public DBMG stockholders”). The first payment of $2.51 per share, or approximately $0.7 million total, is intended to offset the indirect burden that the public DBMG stockholders arguably bear (by virtue of their approximately 7.52% ownership of DBMG) from DBMG’s funding of the approximately $8.1 million portion of the settlement payment to the Tendered Stockholders. The second payment of $1.00 per share, or approximately $0.3 million total, represents consideration for a full release of claims from the public DBMG stockholders related to the action and the implementation of the Revised Settlement Framework. In sum, the Revised Settlement Framework provides that HC2 would fund payments of $3.51 per share, or approximately $1.0 million total, to the public DBMG stockholders.

The two DBMG stockholders that objected to the settlement presented at the February 13, 2020 settlement hearing have informed the Court that they are not objecting to the Revised Settlement Framework. To date, no DBMG stockholders have filed objections to the Revised Settlement Framework, and the deadline for such objections has passed.

If approved, the Revised Settlement Framework would result in a global settlement of the action and the certification of a non-opt-out plaintiff class consisting of any and all record and beneficial owners of outstanding shares of DBMG common stock who held such stock at any time during May 12, 2014 through and including the close of business on May 8, 2020, and including, among others, their successors.

The Revised Settlement Framework also provides for a release of claims by the plaintiff class in favor of a broad group of released defendant parties relating to, among other things, the action, the 2014 tender offer, all claims relating to HC2’s decision not to close a short-form merger shortly after the 2014 tender offer, and the implementation and funding of the Revised Settlement Framework.

Although the parties are seeking approval of Revised Settlement Framework, there can be no assurance that the Delaware Courts will approve the revised or any other settlement proposed by the parties. If a settlement cannot be reached, the Company believes it has meritorious defenses and intends to vigorously defend this matter.

Non-Operating Corporate

Stockholder Litigation

On April 10, 2020, a purported stockholder of the Company filed a class action complaint in the Delaware Court of Chancery captioned Tera v. HC2 Holdings Inc., et al., C.A. No. 2020-0275-JRS (the “Stockholder Litigation”). The complaint alleged that the Company’s consent revocation materials (i) contain misleading disclosures relating to the Certificates of Designation, (ii) fail to disclose that a majority of the Board may approve the nominees set forth by Percy Rockdale LLC and certain of its affiliates (collectively, “Percy Rockdale”), for purposes of the Certificates of Designation such that the Percy Rockdale nominees would be considered “Continuing Directors” (as defined in the Certificates of Designation) and (iii) inaccurately state that electing the Percy Rockdale nominees will cause a Change of Control (as defined in the Certificates of Designation) under the Certificates of Designation because it will lead to a person or group obtaining the power to elect a majority of the members of the Board. The complaint sought (i) a declaration requiring the Board to approve the Percy Rockdale nominees for purposes of the Certificates of Designation, (ii) a declaration that the Board breached its fiduciary duties by issuing misleading disclosures and (iii) an injunction requiring the Board to issue additional disclosures relating to the Change of Control provisions in the Certificates of Designation. On April 19, 2020, the plaintiff amended his complaint to allege that the Supplement to the Consent Revocation Statement, filed with the SEC on April 17, 2020, contained misleading disclosures relating to the Certificates of Designation. The amended complaint sought, among other remedies, (i) a declaration that the Board breached its fiduciary duties by issuing misleading disclosures; (ii) a declaration that, if a Change of Control could be deemed to occur under the Certificates of Designation, that such Change of Control provisions are invalid and unenforceable under Delaware law; (iii) an injunction requiring the defendants to issue corrective disclosures; and (iv) an order enjoining the Board from relying upon consent revocations received to date. On April 20, 2020, the Court of Chancery granted the plaintiff’s motion for expedited proceedings.

On April 15, 2020, the Board (with Mr. Falcone recusing himself as a non-Independent Director) determined to approve the Percy Rockdale nominees, solely and specifically for the purposes of deeming them Continuing Directors pursuant to the Certificates of Designation, to avoid triggering, and to render inapplicable, such prong of the Change of Control definition. On April 17, 2020 and April 21, 2020, each of the holder of the Series A Preferred Stock and the holder of the Series A-2 Preferred Stock, respectively, and, in each case, entitled to give a waiver, agreed that such holder will not seek to exercise its right to require the Company to redeem the shares of such Series A Preferred Stock or Series A-2 Preferred Stock, as applicable, if such redemption right were to arise as a result of the outcome of the Consent Solicitation based on one of the Change of Control prongs of the Certificate of Designation (which prong may require the Company to make an offer to redeem the Preferred Stock if any person or “group” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act) obtains the power to elect a majority of the members of the Board). Therefore, in light of the foregoing, if the Percy Rockdale nominees became a majority of the Board pursuant to Percy Rockdale’s consent solicitation, the Company would not be required to offer to redeem the shares of the Series A Preferred Stock and the Series A-2 Preferred Stock. On April 23, 2020, the parties agreed that the waiver and additional disclosures, combined with the prior disclosures and approval of Percy Rockdale’s nominees as Continuing Directors, mooted the need for expedition and a preliminary injunction hearing, and the parties informed the court that the plaintiff was withdrawing its request for expedition and a preliminary injunction. On May 14, 2020, the Company announced that it had reached a resolution of Percy Rockdale's consent solicitation.

On May 6, 2020, the plaintiff filed a motion for an order awarding attorneys’ fees and expenses, requesting a $2.5 million fee. The plaintiff alleges that the redemption provisions in the Certificates of Designations constitute so-called proxy puts and that defendants used the proxy puts to undermine stockholders’ franchise rights. Briefing on the plaintiff’s motion is complete, and the Delaware Court of Chancery has scheduled oral argument for August 11, 2020. However, the parties may be able to resolve the fee application via a negotiated resolution.

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.

Share-based Compensation (Tables)

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

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, 2019	2,213,775	$	5.12
Granted	—	$	—
Vested	(1,174,170)	$	5.05
Forfeited	(450,967)	$	6.07
Unvested - June 30, 2020	588,638	$	4.55

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, 2019	7,067,592	$	6.52
Granted	—	$	—
Exercised	—	$	—
Forfeited	(142,503)	$	5.45
Expired	(51,745)	$	5.48
Outstanding - June 30, 2020	6,873,344	$	6.55

Eligible for exercise	6,833,839	$	6.56

Revenue - Broadcasting Segment Remaining Unsatisfied Performance Obligations (Details) - Broadcasting $ in Millions	Jun. 30, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 5.2
Remaining performance obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 6.4
Remaining performance obligation period	5 years
Network advertising \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 3.8
Remaining performance obligation period	1 year
Network advertising \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	5 years
Broadcast station \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 7.6
Remaining performance obligation period	1 year
Broadcast station \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	5 years
Network distribution \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0.2
Other \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	1 year
Other \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation period	5 years

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	15. Income Taxes Income Tax Expense The Company used the Annual Effective Tax Rate ("ETR") approach of ASC 740-270, Interim Reporting, to calculate its 2020 interim tax provision. Income tax expense was $15.4 million and $1.1 million for the three months ended June 30, 2020 and 2019, respectively. The income tax expense recorded for the three months ended June 30, 2020 primarily relates to tax expense incurred in China from the partial sale of HMN and projected expense as calculated under ASC 740 for tax paying entities, primarily the Insurance segment, which is no longer in a valuation allowance. Additionally, the tax benefits associated with losses generated by the HC2 Holdings, Inc. U.S. consolidated income tax return and certain other businesses have been reduced by a full valuation allowance as we do not believe it is more-likely-than-not that the losses will be utilized prior to expiration. The income tax expense recorded for the three months ended June 30, 2019 relates to the projected expense as calculated under ASC 740 for taxpaying entities offset by a benefit from the release of the valuation allowance of the Insurance segment due to an increase in current year income. Income tax expense was $2.8 million and $5.1 million for the six months ended June 30, 2020 and 2019, respectively. The income tax expense recorded for the six months ended June 30, 2020 primarily relates to tax expense incurred in China from the partial sale of HMN and projected expense as calculated under ASC 740 for tax paying entities, primarily the Insurance segment, which is no longer in a valuation allowance, which was mostly offset by a tax benefit from the carryback of net operating losses at the Insurance segment as a result of the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). Additionally, the tax benefits associated with losses generated by the HC2 Holdings, Inc. U.S. consolidated income tax return and certain other businesses have been reduced by a full valuation allowance as we do not believe it is more-likely-than-not that the losses will be utilized prior to expiration. The income tax expense recorded for the six months ended June 30, 2019 relates to the projected expense as calculated under ASC 740 for taxpaying entities offset by a benefit from the release of the valuation allowance of the Insurance segment due to an increase in current year income. Unrecognized Tax Benefits The Company follows the provision of ASC 740-10, Income Taxes, which prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the Company has taken or expects to take on a tax return. The Company is subject to challenge from various taxing authorities relative to certain tax planning strategies, including certain intercompany transactions as well as regulatory taxes. Examinations The Company conducts business globally, and as a result, the Company or one or more of its subsidiaries files income tax returns in the United States federal jurisdiction and various state and foreign jurisdictions. In the normal course of business the Company is subject to examination by taxing authorities throughout the world. The 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. Tax years 2002 - 2019 remain open for examination.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Organization and Business (Details)	6 Months Ended
Organization and Business (Details)	Jun. 30, 2020 security
Business And Organization [Line Items]
Number of reportable segments	7
DBMG
Business And Organization [Line Items]
Parents interest, controlling	92.00%
ANG
Business And Organization [Line Items]
Parents interest, controlling	69.00%
PTGI-ICS
Business And Organization [Line Items]
Parents interest, controlling	100.00%
Insurance Companies
Business And Organization [Line Items]
Parents interest, controlling	100.00%
Genoval Orthopedics inc.
Business And Organization [Line Items]
Parents interest, controlling	80.00%
R2 Dermatology, Inc.
Business And Organization [Line Items]
Parents interest, controlling	56.00%
Medibeacon Inc., and Triple Ring Technologies, Inc
Business And Organization [Line Items]
Parents interest, controlling	47.00%
HC2 Broadcasting Holdings, Inc
Business And Organization [Line Items]
Parents interest, controlling	98.00%
DTV America
Business And Organization [Line Items]
Parents interest, controlling	50.00%
Minority Holders
Business And Organization [Line Items]
Percentage of ownership interest acquired	10.00%
GMH
Business And Organization [Line Items]
Parents interest, controlling	73.00%
Huawaei Marine Network [Member]
Business And Organization [Line Items]
Parents interest, controlling	19.00%

Summarized assets and liabilities of the of discontinued operations (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets
Other invested assets		$ 16.9
Cash and cash equivalents		10.2
Accounts receivable, net		26.0
Property, plant and equipment, net		182.1
Goodwill		14.3
Intangibles, net		5.3
Other assets		68.5
Total assets held for sale	$ 0.0	323.3
Liabilities
Accounts payable and other current liabilities		33.4
Debt obligations		65.6
Pension Liability		18.8
Other liabilities		36.1
Total liabilities held for sale	$ 0.0	$ 153.9

Life, Accident and Health Reserves - Liability for Claims of Long-Term Care Insurance Reserves (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Beginning balance	$ 4,567.1
Paid related to insured events of:
Ending balance	4,608.8
Other Long Duration Insurance Product Line
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Beginning balance	761.3	$ 738.7
Less: recoverable from reinsurers	(131.0)	(136.4)
Beginning balance, net	630.3	602.3
Incurred related to insured events of:
Current year	112.2	108.8
Prior years	(11.3)	(41.2)
Total incurred	100.9	67.6
Paid related to insured events of:
Current year	(3.8)	(2.9)
Prior years	(82.4)	(74.1)
Total paid	(86.2)	(77.0)
Interest on liability for policy and contract claims	11.3	10.7
Ending balance, net	656.3	603.6
Add: recoverable from reinsurers	139.5	137.4
Ending balance	$ 795.8	$ 741.0

Discontinued Operations - Interest and amortization (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense	$ 21.4	$ 19.1	$ 42.7	$ 37.9
Revolving Credit Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense		0.2	0.2	0.2
Amortization of deferred financing costs and original issuance discount		0.1	0.1	0.1
Revolving Credit Agreement \| Marine Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense	0.0
Amortization of deferred financing costs and original issuance discount	0.0
Secured Indenture
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense		2.2	2.2	4.4
Amortization of deferred financing costs and original issuance discount		$ 0.3	$ 0.2	$ 0.5
Secured Indenture \| Marine Services
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense	0.0
Amortization of deferred financing costs and original issuance discount	$ 0.0

Related Parties (Tables)

6 Months Ended

Jun. 30, 2020

Related party transactions


	Three Months Ended June 30,
	2020										2019
	Corporate		Other ⁽¹⁾		Total		Corporate		Other ⁽¹⁾		Total
Allocated to HC2 by HCP
Office space	$	0.5	$	0.3	$	0.8	$	0.5	$	0.4	$	0.9
Administrative salaries and benefits	—		—		—		—		—		—
Other shared overhead	—		—		—		—		—		—
Total Expenses	0.5		0.3		0.8		0.5		0.4		0.9

Charged back to HCP by HC2
Administrative salaries and benefits	—		—		—		—		—		—
Other shared overhead	0.1		—		0.1		—		—		—
Total Income	0.1		—		0.1		—		—		—

Net related party activity	$	0.4	$	0.3	$	0.7	$	0.5	$	0.4	$	0.9


	Six Months Ended June 30,
	2020										2019
	Corporate		Other ⁽¹⁾		Total		Corporate		Other ⁽¹⁾		Total
Allocated to HC2 by HCP
Office space	$	1.0	$	0.5	$	1.5	$	1.2	$	0.6	$	1.8
Administrative salaries and benefits	—		—		—		0.1		—		0.1
Other shared overhead	—		—		—		—		—		—
Total Expenses	1.0		0.5		1.5		1.3		0.6		1.9

Charged back to HCP by HC2
Administrative salaries and benefits	—		—		—		—		—		—
Other shared overhead	0.1		—		0.1		0.1		—		0.1
Total Income	0.1		—		0.1		0.1		—		0.1

Net related party activity	$	0.9	$	0.5	$	1.4	$	1.2	$	0.6	$	1.8

⁽¹⁾ Other in the above table represent certain entities within our Broadcasting, Life Sciences and Insurance segments.

A summary of transactions with such equity method investees and balances outstanding are as follows (in millions). Such activity is reclassified to discontinued operations as a result of the sale of GMSL. See note 3. Discontinued Operations for further information:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue	$	—	$	1.0	$	0.7	$	3.0
Operating expenses	$	—	$	0.1	$	—	$	0.7
Interest expense	$	—	$	0.3	$	0.1	$	0.5


	June 30,		December 31,
	2020		2019
Accounts receivable	$	—	$	1.2
Debt obligations	$	—	$	22.5
Accounts payable	$	—	$	0.1
Dividends	$	—	$	4.5

Investments - Schedule of Major Industry Types of Fixed Maturity Holdings (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 3,824.8
Fair Value	4,116.3	$ 4,028.9
Corporate And Other Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,686.8	2,569.1
Fair Value	$ 2,988.7	$ 2,827.0
Percentage of Total	100.00%	100.00%
Finance, insurance, and real estate \| Corporate And Other Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 814.1	$ 632.2
Fair Value	$ 839.9	$ 674.9
Percentage of Total	28.10%	23.80%
Transportation, communication and other services \| Corporate And Other Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 695.6	$ 785.7
Fair Value	$ 763.1	$ 855.2
Percentage of Total	25.50%	30.30%
Manufacturing \| Corporate And Other Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 703.2	$ 728.7
Fair Value	$ 843.2	$ 825.9
Percentage of Total	28.20%	29.20%
Other \| Corporate And Other Fixed Maturities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 473.9	$ 422.5
Fair Value	$ 542.5	$ 471.0
Percentage of Total	18.20%	16.70%

Commitments and Contingencies - Leases (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Operating Lease [Abstract]
2020		$ 15.1
2021		13.4
2022		10.9
2023		8.8
2024		6.6
Thereafter		8.2
Total future lease payments		63.0
Less: Present values		(9.3)
Total lease liability balance		53.7
Finance Lease [Abstract]
2020	$ 1.1	1.0
2021	0.2	0.7
2022	0.0	0.1
2023	0.0	0.0
2024	0.0	0.0
Thereafter	0.0	0.0
Total future lease payments	1.3	1.8
Less: Present values	(0.1)	(0.1)
Total lease liability balance	$ 1.2	$ 1.7

Property, Plant, and Equipment, net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant, and Equipment, net

10. Property, Plant and Equipment, net

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


	June 30,		December 31,
	2020		2019
Equipment, furniture and fixtures, and software	$	221.6	$	212.8
Building and leasehold improvements	41.0		40.1
Land	36.5		36.8
Construction in progress	3.9		4.8
Plant and transportation equipment	4.9		5.2
	307.9		299.7
Less: Accumulated depreciation	87.7		76.0
Total	$	220.2	$	223.7

Depreciation expense was $7.0 million and $6.6 million for the three months ended June 30, 2020 and 2019, respectively. These amounts included $2.3 million and $2.3 million of depreciation expense recognized within cost of revenue for the three months ended June 30, 2020 and 2019, respectively.

Depreciation expense was $13.8 million and $12.6 million for the six months ended June 30, 2020 and 2019, respectively. These amounts included $4.6 million and $4.5 million of depreciation expense recognized within cost of revenue for the six months ended June 30, 2020 and 2019, respectively.

Fair Value of Financial Instruments - Schedule of Changes in Balances of Level 3 Financial Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Changes in balances of Level 3 financial assets
Balance at beginning of period	$ 552.0	$ 806.7	$ 763.0	$ 701.6
Net earnings (loss)	(5.4)	(5.1)	(5.4)	(5.2)
Other comp. income (loss)	68.9	(0.5)	(61.6)	22.7
Purchases and issuances	3.2	63.3	95.9	118.9
Sales and settlements	(37.8)	117.5	(91.5)	(196.4)
Transfer to Level 3	226.2	7.2	288.7	117.8
Transfer out of Level 3	(52.6)	(38.8)	(234.6)	(44.1)
Balance at end of period	754.5	715.3	754.5	715.3
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	4.4	8.8	7.8	11.9
Net earnings (loss)	8.2	(3.5)	4.8	(6.6)
Other comp. income (loss)	0.0	0.0	0.0	0.0
Purchases and issuances	0.0	3.0	0.0	3.0
Sales and settlements	0.0	0.0	0.0	0.0
Transfer to Level 3	0.0	0.0	0.0	0.0
Transfer out of Level 3	0.0	0.0	0.0	0.0
Balance at end of period	12.6	8.3	12.6	8.3
Total fixed maturity securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	510.4	745.5	705.4	640.4
Net earnings (loss)	(5.8)	(1.7)	(5.8)	(1.7)
Other comp. income (loss)	67.2	(0.5)	(47.3)	22.7
Purchases and issuances	3.2	60.8	95.9	116.4
Sales and settlements	(37.8)	116.5	(91.5)	(195.4)
Transfer to Level 3	224.5	4.2	287.0	114.8
Transfer out of Level 3	(52.6)	(38.5)	(234.6)	(43.9)
Balance at end of period	709.1	653.3	709.1	653.3
States, municipalities and political subdivisions
Changes in balances of Level 3 financial assets
Balance at beginning of period	9.0	0.0	0.0	0.0
Net earnings (loss)	0.1	0.0	0.2	0.0
Other comp. income (loss)	1.9	0.0	0.9	0.0
Purchases and issuances	0.0	0.0	0.0	0.0
Sales and settlements	0.0	0.5	0.0	(0.5)
Transfer to Level 3	3.0	4.2	12.9	4.2
Transfer out of Level 3	(11.0)	0.0	(11.0)	0.0
Balance at end of period	3.0	3.7	3.0	3.7
Residential mortgage-backed securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	13.0	13.1	9.2	19.0
Net earnings (loss)	0.0	0.0	0.0	0.0
Other comp. income (loss)	0.3	0.2	(1.6)	0.3
Purchases and issuances	0.0	0.0	0.0	0.0
Sales and settlements	(0.8)	0.5	(1.5)	(0.8)
Transfer to Level 3	0.0	0.0	6.8	0.0
Transfer out of Level 3	(2.9)	(0.3)	(3.3)	(6.0)
Balance at end of period	9.6	12.5	9.6	12.5
Commercial mortgage-backed securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	34.2	61.8	34.6	58.2
Net earnings (loss)	0.1	0.0	0.1	0.0
Other comp. income (loss)	(8.1)	0.6	(13.4)	2.1
Purchases and issuances	0.0	5.1	0.0	7.5
Sales and settlements	0.0	0.1	(0.2)	(0.5)
Transfer to Level 3	24.9	0.0	30.0	0.0
Transfer out of Level 3	0.0	(1.0)	0.0	(0.9)
Balance at end of period	51.1	66.4	51.1	66.4
Asset-backed securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	285.5	472.1	550.6	478.2
Net earnings (loss)	(5.9)	(1.6)	(5.9)	(1.6)
Other comp. income (loss)	65.6	4.7	(27.7)	18.0
Purchases and issuances	0.0	39.9	60.0	88.5
Sales and settlements	(34.2)	102.5	(85.7)	(176.1)
Transfer to Level 3	191.8	0.0	191.8	5.6
Transfer out of Level 3	0.0	0.0	(180.3)	0.0
Balance at end of period	502.8	412.6	502.8	412.6
Corporate and other
Changes in balances of Level 3 financial assets
Balance at beginning of period	168.7	198.5	111.0	85.0
Net earnings (loss)	(0.1)	(0.1)	(0.2)	(0.1)
Other comp. income (loss)	7.5	(6.0)	(5.5)	2.3
Purchases and issuances	3.2	15.8	35.9	20.4
Sales and settlements	(2.8)	12.9	(4.1)	(17.5)
Transfer to Level 3	4.8	0.0	45.5	105.0
Transfer out of Level 3	(38.7)	(37.2)	(40.0)	(37.0)
Balance at end of period	142.6	158.1	142.6	158.1
Equity securities
Changes in balances of Level 3 financial assets
Balance at beginning of period	41.6	61.2	57.6	61.2
Net earnings (loss)	0.4	(3.4)	0.4	(3.5)
Other comp. income (loss)	1.7	0.0	(14.3)	0.0
Purchases and issuances	0.0	2.5	0.0	2.5
Sales and settlements	0.0	1.0	0.0	(1.0)
Transfer to Level 3	1.7	3.0	1.7	3.0
Transfer out of Level 3	0.0	(0.3)	0.0	(0.2)
Balance at end of period	45.4	62.0	45.4	62.0
Common Stock
Changes in balances of Level 3 financial assets
Balance at beginning of period	3.4	6.1	3.4	5.9
Net earnings (loss)	(1.9)	0.0	(1.9)	0.2
Other comp. income (loss)	0.0	0.0	0.0	0.0
Purchases and issuances	0.0	0.0	0.0	0.0
Sales and settlements	0.0	1.0	0.0	(1.0)
Transfer to Level 3	0.0	0.0	0.0	0.0
Transfer out of Level 3	0.0	(0.2)	0.0	(0.2)
Balance at end of period	1.5	4.9	1.5	4.9
Perpetual preferred stocks
Changes in balances of Level 3 financial assets
Balance at beginning of period	38.2	55.1	54.2	55.3
Net earnings (loss)	2.3	(3.4)	2.3	(3.7)
Other comp. income (loss)	1.7	0.0	(14.3)	0.0
Purchases and issuances	0.0	2.5	0.0	2.5
Sales and settlements	0.0	0.0	0.0	0.0
Transfer to Level 3	1.7	3.0	1.7	3.0
Transfer out of Level 3	0.0	(0.1)	0.0	0.0
Balance at end of period	43.9	57.1	43.9	57.1
Embedded derivatives
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	0.7	6.1	3.0	8.4
Net earnings (loss)	8.0	(3.2)	5.7	(5.5)
Other comp. income (loss)	0.0	0.0	0.0	0.0
Purchases and issuances	0.0	0.0	0.0	0.0
Sales and settlements	0.0	0.0	0.0	0.0
Transfer to Level 3	0.0	0.0	0.0	0.0
Transfer out of Level 3	0.0	0.0	0.0	0.0
Balance at end of period	8.7	2.9	8.7	2.9
Other
Changes in balances of Level 3 financial liabilities
Balance at beginning of period	3.7	2.7	4.8	3.5
Net earnings (loss)	0.2	(0.3)	(0.9)	(1.1)
Other comp. income (loss)	0.0	0.0	0.0	0.0
Purchases and issuances	0.0	3.0	0.0	3.0
Sales and settlements	0.0	0.0	0.0	0.0
Transfer to Level 3	0.0	0.0	0.0	0.0
Transfer out of Level 3	0.0	0.0	0.0	0.0
Balance at end of period	$ 3.9	$ 5.4	$ 3.9	$ 5.4

Operating Segment and Related Information - Concentration Risk (Details) - Sales Revenue, Net - Customer Concentration Risk - Telecommunications	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Customer A
Segment Reporting Information [Line Items]
Percentage of total	11.20%	11.40%
Customer B
Segment Reporting Information [Line Items]
Percentage of total	10.00%

Equity - Preferred Stock (Details) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
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)	6,375	6,375
Shares outstanding (in shares)	6,375	6,375
Series A-2 shares issued and outstanding
Class of Stock [Line Items]
Shares issued (in shares)	4,000	4,000
Shares outstanding (in shares)	4,000	4,000

Operating Segment and Related Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedules of Concentration of Risk, by Risk Factor

As a result of the sale of GMSL, and in accordance with ASC 280, the Company no longer considers the results of operations and Balance Sheets of GMH and its subsidiaries as a separate segment. Formerly the Marine Services segment, these entities and the investment in HMN have been reclassified to the Other segment. In addition, as GMSL is a discontinued operation as of June 30, 2020, all operating results of GMSL have been reclassified to Discontinued operations. This has been reflected in the tables below for both the current and historical periods presented.

The Company's revenue concentrations of 10% and greater are as follows:

Three Months Ended June 30,

Six Months Ended June 30,

Segment

2020

2019

2020

2019

Customer A

Telecommunications

11.2%

11.4%

Customer B

Telecommunications

10.0%

Summary of Company's Geographic and Operating Segments

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue
Construction	$	172.3	$	195.7	$	348.8	$	387.8
Energy	10.3		5.5		20.7		10.6
Telecommunications	107.3		189.3		293.7		344.8
Insurance	80.5		82.1		144.3		170.9

Broadcasting	9.5		10.0		19.6		19.8


Eliminations ^(*)	(2.9)		(3.4)		(5.3)		(5.7)
Total net revenue	$	377.0	$	479.2	$	821.8	$	928.2

^(*)The Insurance segment revenues are inclusive of realized and unrealized gains and net investment income for the three and six months ended June 30, 2020 and 2019, inclusive of transactions between entities under common control, which are eliminated or are reclassified in consolidation.


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Income (loss) from operations
Construction	$	4.5	$	16.2	$	7.1	$	21.9
Energy	2.2		(0.3)		3.9		(0.7)
Telecommunications	0.2		0.2		0.3		0.8
Insurance	14.2		30.9		1.6		65.3
Life Sciences	(3.5)		(1.7)		(6.7)		(3.6)
Broadcasting	(1.2)		(1.7)		(4.1)		(5.0)
Other	(0.6)		(0.1)		(1.6)		(0.1)
Non-operating Corporate	(8.0)		(6.5)		(17.1)		(13.7)
Eliminations^(*)	(2.9)		(3.4)		(5.3)		(5.7)
Total income (loss) from operations	$	4.9	$	33.6	$	(21.9)	$	59.2

^(*) The Insurance segment revenues are inclusive of realized and unrealized gains and net investment income for the three and six months ended June 30, 2020 and 2019, inclusive of transactions between entities under common control, which are eliminated or are reclassified in consolidation.

A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Income (loss) from operations	$	4.9	$	33.6	$	(21.9)	$	59.2
Interest expense	(21.4)		(19.1)		(42.7)		(37.9)

Loss on early extinguishment or restructuring of debt	(3.4)		—		(9.2)		—


(Loss) income from equity investees	(0.2)		7.2		(2.7)		1.3
Gain on bargain purchase	—		1.1		—		1.1
Other income (loss)	64.0		(4.8)		66.8		(1.4)
Income (loss) from continuing operations	43.9		18.0		(9.7)		22.3
Income tax expense	(15.4)		(1.1)		(2.8)		(5.1)
Income (loss) from continuing operations	28.5		16.9		(12.5)		17.2
Loss from discontinued operations (including loss on disposal of $39.3 million)	—		(7.7)		(60.0)		(14.3)
Net income (loss)	28.5		9.2		(72.5)		2.9
Net (income) loss attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)		0.2		2.5		3.7
Net income (loss) attributable to HC2 Holdings, Inc.	13.1		9.4		(70.0)		6.6
Less: Preferred dividends, deemed dividends and repurchase gains	0.4		0.4		0.8		(0.8)
Net income (loss) attributable to common stock and participating preferred stockholders	$	12.7	$	9.0	$	(70.8)	$	7.4


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Depreciation and Amortization
Construction	$	2.7	$	4.0	$	5.3	$	7.9
Energy	2.0		1.5		4.1		2.9
Telecommunications	0.1		0.1		0.2		0.2
Insurance ^(*)	(5.5)		(6.0)		(11.4)		(12.5)
Life Sciences	0.1		0.1		0.1		0.1
Broadcasting	1.7		1.5		3.4		2.9


Total	$	1.1	$	1.2	$	1.7	$	1.5

^(*) Balance includes amortization of negative VOBA, which increases net income.


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Capital Expenditures ^(*)
Construction	$	1.1	$	2.8	$	3.4	$	5.4
Energy	0.6		0.2		1.6		0.3

Insurance	—		—		0.1		0.2
Life Sciences	0.1		—		0.1		—
Broadcasting	3.7		4.7		6.4		5.1
Other	0.1		—		0.1		—

Total	$	5.6	$	7.7	$	11.7	$	11.0

^(*)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


	June 30,		December 31,
	2020		2019
Investments
Construction	$	0.9	$	0.9
Insurance	4,446.1		4,423.0


Life Sciences	22.2		22.0

Other	31.1		43.1

Eliminations	(102.1)		(96.9)
Total	$	4,398.2	$	4,392.1


	June 30,		December 31,
	2020		2019
Total Assets
Construction	$	523.0	$	530.4

Energy	137.4		142.8
Telecommunications	81.3		89.3
Insurance	5,650.0		5,611.9
Life Sciences	32.8		28.4
Broadcasting	256.6		257.9
Other	37.3		366.3
Non-operating Corporate	15.7		27.2
Eliminations	(100.8)		(95.9)
Total	$	6,633.3	$	6,958.3

Property, Plant, and Equipment, net - Summary of Property, Plant, and Equipment, net (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 307.9	$ 299.7
Less: Accumulated depreciation	87.7	76.0
Property, plant and equipment, net	220.2	223.7
Equipment, furniture and fixtures, and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	221.6	212.8
Building and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	41.0	40.1
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	36.5	36.8
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	3.9	4.8
Plant and transportation equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 4.9	$ 5.2

Life, Accident and Health Reserves - By Product Line (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	$ 4,608.8	$ 4,567.1
Long-term care insurance reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	4,250.6	4,201.6
Traditional life insurance reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	168.3	173.4
Other accident and health insurance reserves
Liability for Claims and Claims Adjustment Expense [Line Items]
Total life, accident and health reserves	$ 189.9	$ 192.1

Acquisitions, Depositions, and Deconsolidations	6 Months Ended
Acquisitions, Depositions, and Deconsolidations	Jun. 30, 2020
Business Combinations [Abstract]
Acquisitions, Dispositions, and Deconsolidations	5. Acquisitions, Dispositions, and Deconsolidations Other Segment Sale of GMSL On January 30, 2020, the Company announced that, through its indirect subsidiary GMH in which the Company holds an approximately 73% controlling interest, the Company entered into a definitive agreement to sell 100% of the shares of GMSL to Trafalgar AcquisitionCo, Ltd. and an affiliate of J.F. Lehman & Company, LLC. The total base consideration was $250.0 million, subject to customary purchase price adjustments, working capital adjustments, and a potential earn-out of up to $12.5 million at such time, if any, if J.F. Lehman & Company, LLC and its investment affiliates achieve a specified multiple of their invested capital. The purchase price is subject to customary potential downward or upward post-closing adjustments based on net working capital, cash, unpaid transaction expenses, indebtedness and certain of the Company’s pre-closing paid capital expenditures. The Share Purchase Agreement contains customary representations, warranties and covenants for a transaction of this nature. In connection with the closing of the transaction, the purchaser deposited (i) $1.25 million of the base price into an escrow fund for the purpose of securing certain indemnification obligations for losses payable in the first twelve months after closing and (ii) $1.91 million of the base price into an escrow fund for the purpose of securing a purchase price adjustment, if any, in favor of purchaser. Following the closing, the purchaser shall pay an amount equal to $2.4 million on the earlier of December 31, 2020 and the date on which a cash collateralized bonding facility is released. The transaction closed on February 28, 2020. GMH received approximately $144.0 million of net proceeds from the sale, of which $36.8 million and $5.5 million were paid to noncontrolling interest holders and redeemable noncontrolling interest holders, respectively. In addition, GMH held $3.1 million as reserves for transaction related costs and HC2 received net proceeds of approximately $98.6 million. The Company recorded a $39.3 million loss on the sale, inclusive of recognizing a $31.3 million loss from the realization of AOCI. The Company recorded an overall gain of $31.8 million from the disposition of the Marine Segment upon the sale of the portion of New Saxon’s interest in HMN that represents 30% of HMN, which closed in May 2020. See Note 3. Discontinued Operations for further details. Sale of HMN On October 30, 2019, the Company announced the sale of its stake in HMN, its 49% joint venture with Huawei Technologies Co., Ltd., to Hengtong Optic-Electric Co Ltd. The sale of GMSL's interest values HMN at $285 million, and GMH's 49% stake at approximately $140 million. Under the terms of the Sale and Purchase Agreement, the sale of New Saxon’s 49% interest in HMN will be affected in two tranches. The sale of the portion of New Saxon’s 30% interest of HMN, closed on May 12, 2020 (the "First HMN Close"). The remaining 19% interest of HMN is retained by New Saxon and subject to a put option agreement by New Saxon, exercisable starting on the second year anniversary of the closing date of the First HMN Close at a price equal to the greater of the share price paid for the 30% interest or fair market value as of the exercisable date. In conjunction with the first tranche of the sale, the Company received $85.5 million in cash, of which $17.5 million and $2.1 million were paid to noncontrolling interest holders and redeemable noncontrolling interest holders, respectively. New Saxon recorded a $71.1 million gain, included in Other income (loss) in the Condensed Consolidated Statements of Operations. The gain recognized includes $11.3 million related to the fair value of the put option. In addition, the Company recorded a $7.2 million tax expense related to a foreign tax payment when the first tranche closed. Energy Segment On June 14, 2019, ANG acquired ampCNG's 20 natural gas fueling stations, located primarily in the Southeastern U.S. and Texas, for cash consideration of $41.2 million. ANG’s network reach expanded to over 60 stations, making it one of the largest owners and operators of compressed natural gas stations in the country. Transaction was accounted for as asset acquisition. To finance the acquisition, ANG entered into a term loan with M&T bank for $28.0 million and issued preferred stock and ten year warrants for common stock for $14.0 million. The preferred stock bears a 14% coupon and is mandatorily redeemable in four years. The warrants are exercisable at $0.001 per share of common stock and will represent 6% of ANG when exercised. ANG received $5.0 million of proceeds from CGI. Consequently, related preferred stock and warrants are eliminated in consolidation. Mandatorily redeemable preferred stock and warrants are recorded within Other liabilities. Broadcasting Segment During the year ended December 31, 2019, HC2 Broadcasting acquired a series of licenses for a total consideration of $71.4 million. All transactions were accounted for as asset acquisitions.

Property, Plant, and Equipment, net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 7.0	$ 6.6	$ 13.8	$ 12.6
Depreciation expense with cost of revenue	$ 2.3	$ 2.3	$ 4.6	$ 4.5

Fair Value of Financial Instruments - Summary of Assets and Liabilities Measured At Fair Value on Recurring Basis (Details) - USD ($) $ in Millions	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Assets
Fixed maturity securities, available-for-sale at fair value	$ 4,116.3		$ 4,028.9
Equity securities	73.8		92.5
Liabilities
Other	0.4
Total liabilities accounted for at fair value	12.6	$ 4.4	7.8	$ 8.3	$ 8.8	$ 11.9
U.S. Government and government agencies
Assets
Fixed maturity securities, available-for-sale at fair value	8.5		7.7
States, municipalities and political subdivisions
Assets
Fixed maturity securities, available-for-sale at fair value	436.7		440.1
Residential mortgage-backed securities
Assets
Fixed maturity securities, available-for-sale at fair value	59.7		66.9
Commercial mortgage-backed securities
Assets
Fixed maturity securities, available-for-sale at fair value	91.2		109.4
Asset-backed securities
Assets
Fixed maturity securities, available-for-sale at fair value	531.5		577.8
Corporate and other
Assets
Fixed maturity securities, available-for-sale at fair value	2,988.7		2,827.0
Common Stock
Assets
Equity securities	5.8		10.5
Perpetual preferred stocks
Assets
Equity securities	68.0		82.0
Recurring
Assets
Fixed maturity securities, available-for-sale at fair value	4,116.3		4,028.9
Equity securities	73.8		92.5
Total assets accounted for at fair value	4,190.1		4,121.4
Liabilities
Embedded derivative	8.7		3.0
Other	3.9		4.8
Total liabilities accounted for at fair value	12.6		7.8
Recurring \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	43.4		51.3
Equity securities	9.0		12.1
Total assets accounted for at fair value	52.4		63.4
Liabilities
Embedded derivative	0.0		0.0
Other	0.0		0.0
Total liabilities accounted for at fair value	0.0		0.0
Recurring \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	3,363.8		3,272.2
Equity securities	19.4		22.8
Total assets accounted for at fair value	3,383.2		3,295.0
Liabilities
Embedded derivative	0.0		0.0
Other	0.0		0.0
Total liabilities accounted for at fair value	0.0		0.0
Recurring \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	709.1		705.4
Equity securities	45.4		57.6
Total assets accounted for at fair value	754.5		763.0
Liabilities
Embedded derivative	8.7		3.0
Other	3.9		4.8
Total liabilities accounted for at fair value	12.6		7.8
Recurring \| U.S. Government and government agencies
Assets
Fixed maturity securities, available-for-sale at fair value	8.5		7.7
Recurring \| U.S. Government and government agencies \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	5.5		4.8
Recurring \| U.S. Government and government agencies \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	3.0		2.9
Recurring \| U.S. Government and government agencies \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	0.0		0.0
Recurring \| States, municipalities and political subdivisions
Assets
Fixed maturity securities, available-for-sale at fair value	436.7		440.1
Recurring \| States, municipalities and political subdivisions \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	0.0		0.0
Recurring \| States, municipalities and political subdivisions \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	433.7		440.1
Recurring \| States, municipalities and political subdivisions \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	3.0		0.0
Recurring \| Residential mortgage-backed securities
Assets
Fixed maturity securities, available-for-sale at fair value	59.7		66.9
Recurring \| Residential mortgage-backed securities \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	0.0		0.0
Recurring \| Residential mortgage-backed securities \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	50.1		57.7
Recurring \| Residential mortgage-backed securities \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	9.6		9.2
Recurring \| Commercial mortgage-backed securities
Assets
Fixed maturity securities, available-for-sale at fair value	91.2		109.4
Recurring \| Commercial mortgage-backed securities \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	0.0		0.0
Recurring \| Commercial mortgage-backed securities \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	40.1		74.8
Recurring \| Commercial mortgage-backed securities \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	51.1		34.6
Recurring \| Asset-backed securities
Assets
Fixed maturity securities, available-for-sale at fair value	531.5		577.8
Recurring \| Asset-backed securities \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	0.0		0.0
Recurring \| Asset-backed securities \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	28.7		27.2
Recurring \| Asset-backed securities \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	502.8		550.6
Recurring \| Corporate and other
Assets
Fixed maturity securities, available-for-sale at fair value	2,988.7		2,827.0
Recurring \| Corporate and other \| Level 1
Assets
Fixed maturity securities, available-for-sale at fair value	37.9		46.5
Recurring \| Corporate and other \| Level 2
Assets
Fixed maturity securities, available-for-sale at fair value	2,808.2		2,669.5
Recurring \| Corporate and other \| Level 3
Assets
Fixed maturity securities, available-for-sale at fair value	142.6		111.0
Recurring \| Common Stock
Assets
Equity securities	5.8		10.5
Recurring \| Common Stock \| Level 1
Assets
Equity securities	4.3		7.1
Recurring \| Common Stock \| Level 2
Assets
Equity securities	0.0		0.0
Recurring \| Common Stock \| Level 3
Assets
Equity securities	1.5		3.4
Recurring \| Perpetual preferred stocks
Assets
Equity securities	68.0		82.0
Recurring \| Perpetual preferred stocks \| Level 1
Assets
Equity securities	4.7		5.0
Recurring \| Perpetual preferred stocks \| Level 2
Assets
Equity securities	19.4		22.8
Recurring \| Perpetual preferred stocks \| Level 3
Assets
Equity securities	$ 43.9		$ 54.2

Accounts Payable and Other Current Liabilities

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Accounts Payable and Other Current Liabilities

13. Accounts Payable and Other Current Liabilities

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


	June 30,		December 31,
	2020		2019
Accounts payable	$	114.9	$	134.6
Accrued expenses and other current liabilities	65.3		75.2
Accrued interconnection costs	35.7		43.5
Accrued payroll and employee benefits	40.7		39.6
Accrued interest	13.6		11.3
Accrued income taxes	12.8		2.0
Total accounts payable and other current liabilities	$	283.0	$	306.2

Goodwill and Intangibles, net - Indefinite-lived Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 139.0	$ 138.7
FCC licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	136.5	136.2
State licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 2.5	$ 2.5

Investments

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

6. Investments

Fixed Maturity Securities

The following tables provide information relating to investments in fixed maturity securities (in millions):


June 30, 2020	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Government and government agencies	$	7.3	$	1.2	$	—	$	8.5
States, municipalities and political subdivisions	386.0		50.7		—		436.7

Residential mortgage-backed securities	57.0		4.2		(1.5)		59.7
Commercial mortgage-backed securities	111.9		1.2		(21.9)		91.2
Asset-backed securities	575.8		2.6		(46.9)		531.5
Corporate and other	2,686.8		372.3		(70.4)		2,988.7
Total fixed maturity securities	$	3,824.8	$	432.2	$	(140.7)	$	4,116.3


December 31, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Government and government agencies	$	7.0	$	0.7	$	—	$	7.7
States, municipalities and political subdivisions	405.4		34.7		—		440.1

Residential mortgage-backed securities	63.0		4.5		(0.6)		66.9
Commercial mortgage-backed securities	108.2		1.8		(0.6)		109.4
Asset-backed securities	592.6		2.2		(17.0)		577.8
Corporate and other	2,569.1		273.1		(15.2)		2,827.0
Total fixed maturity securities	$	3,745.3	$	317.0	$	(33.4)	$	4,028.9

The amortized cost and fair value of fixed maturity securities available-for-sale as of June 30, 2020 are shown by contractual maturity in the table below (in millions). 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	$	40.1	$	40.4
Due after one year through five years	272.1		275.4
Due after five years through ten years	420.4		437.9
Due after ten years	2,347.5		2,680.2
Subtotal	3,080.1		3,433.9
Mortgage-backed securities	168.9		150.9
Asset-backed securities	575.8		531.5
Total	$	3,824.8	$	4,116.3

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


	June 30, 2020										December 31, 2019
	Amortized Cost		Fair Value		% of Total		Amortized Cost		Fair Value		% of Total
Finance, insurance, and real estate	$	814.1	$	839.9	28.1	%	$	632.2	$	674.9	23.8	%
Transportation, communication and other services	695.6		763.1		25.5	%	785.7		855.2		30.3	%
Manufacturing	703.2		843.2		28.2	%	728.7		825.9		29.2	%
Other	473.9		542.5		18.2	%	422.5		471.0		16.7	%
Total	$	2,686.8	$	2,988.7	100.0	%	$	2,569.1	$	2,827.0	100.0	%

A portion of certain OTTI losses on fixed maturity securities is recognized in Accumulated Other Comprehensive Income ("AOCI"). For these securities the net amount 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 recognized the following (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net realized and unrealized gains on investments	$	0.1	$	—	$	0.9	$	—
Other income (expenses), net	—		—		0.1		—
Total other-than-temporary impairments	$	0.1	$	—	$	1.0	$	—

The following table presents the total unrealized losses for the 201 and 139 fixed maturity securities held by the Company as of June 30, 2020 and December 31, 2019, respectively, where the estimated fair value had declined and remained below amortized cost by the indicated amount (in millions):


	June 30, 2020						December 31, 2019
Fixed maturity securities	Unrealized Losses		% of Total		Unrealized Losses		% of Total
Less than 20%	$	(56.8)	40.3	%	$	(32.6)	97.6	%
20% or more for less than six months	(82.7)		58.8	%	—		—	%
20% or more for six months or greater	(1.2)		0.9	%	(0.8)		2.4	%
Total	$	(140.7)	100.0	%	$	(33.4)	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 June 30, 2020. 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 201 and 139 fixed maturity securities held by the Company that have estimated fair values below amortized cost as of each of June 30, 2020 and December 31, 2019, 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 millions):


June 30, 2020	Less than 12 months									12 months or greater									Total
			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses

States, municipalities and political subdivisions	$	5.7		$	—		$	—		$	—		$	5.7		$	—

Residential mortgage-backed securities	11.1			(1.3)			0.7			(0.2)			11.8			(1.5)
Commercial mortgage-backed securities	56.1			(21.9)			—			—			56.1			(21.9)
Asset-backed securities	226.3			(20.3)			132.2			(26.6)			358.5			(46.9)
Corporate and other	396.2			(42.0)			83.4			(28.4)			479.6			(70.4)
Total fixed maturity securities	$	695.4		$	(85.5)		$	216.3		$	(55.2)		$	911.7		$	(140.7)


December 31, 2019	Less than 12 months									12 months of greater									Total
			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
U.S. Government and government agencies	$	0.3		$	—		$	—		$	—		$	0.3		$	—
States, municipalities and political subdivisions	2.0			—			—			—			2.0			—

Residential mortgage-backed securities	2.3			—			8.2			(0.6)			10.5			(0.6)
Commercial mortgage-backed securities	58.1			(0.6)			0.2			—			58.3			(0.6)
Asset-backed securities	126.5			(1.5)			255.8			(15.5)			382.3			(17.0)
Corporate and other	169.6			(3.7)			177.4			(11.5)			347.0			(15.2)
Total fixed maturity securities	$	358.8		$	(5.8)		$	441.6		$	(27.6)		$	800.4		$	(33.4)

As of June 30, 2020, investment grade fixed maturity securities (as determined by nationally recognized rating agencies) represented approximately 68.4% of the gross unrealized loss and 84.8% of the fair value. As of December 31, 2019, investment grade fixed maturity securities represented approximately 68.3% of the gross unrealized loss and 81.8% 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.

Equity securities

The following tables provide information relating to investments in equity securities measured at fair value (in millions):


	June 30,		December 31,
Equity securities	2020		2019
Common stock	$	5.8	$	10.5
Perpetual preferred stock	68.0		82.0
Total equity securities	$	73.8	$	92.5

Net investment income

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Fixed maturity securities, available-for-sale at fair value	$	45.0	$	43.7	$	90.6	$	87.3
Equity securities	0.8		2.1		1.9		4.6
Mortgage loans	3.2		3.1		8.5		6.8
Policy loans	0.3		0.2		0.6		0.6
Other invested assets	(0.5)		1.4		(0.5)		2.6
Gross investment income	48.8		50.5		101.1		101.9
External investment expense	(0.3)		(0.2)		(0.7)		(0.5)
Net investment income	$	48.5	$	50.3	$	100.4	$	101.4

Net realized and unrealized gains (losses) on investments

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Realized gains on fixed maturity securities	$	8.4	$	4.2	$	12.0	$	5.1
Realized losses on fixed maturity securities	(12.4)		(3.3)		(13.1)		(5.1)
Realized gains on equity securities	0.2		0.3		0.2		0.4
Realized losses on equity securities	(0.1)		(0.2)		(0.1)		(1.1)
Realized gains on mortgage loans	0.1		—		0.2		—

Net unrealized gains (losses) on equity securities	3.0		(1.6)		(18.5)		5.8
Net unrealized gains (losses) on derivative instruments	0.4		(0.9)		0.6		(1.1)
Impairment loss	(0.1)		—		(0.9)		—
Net realized and unrealized gains (losses)	$	(0.5)	$	(1.5)	$	(19.6)	$	4.0

Investments - Schedule of Estimated Fair Values and Gross Unrealized Losses (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Less than 12 months
Fair Value	$ 695.4	$ 358.8
Unrealized Losses	(85.5)	(5.8)
12 months or greater
Fair Value	216.3	441.6
Unrealized Losses	(55.2)	(27.6)
Fair Value	911.7	800.4
Unrealized Losses	(140.7)	(33.4)
U.S. Government and government agencies
Less than 12 months
Fair Value		0.3
Unrealized Losses		0.0
12 months or greater
Fair Value		0.0
Unrealized Losses		0.0
Fair Value		0.3
Unrealized Losses		0.0
States, municipalities and political subdivisions
Less than 12 months
Fair Value	5.7	2.0
Unrealized Losses	0.0	0.0
12 months or greater
Fair Value	0.0	0.0
Unrealized Losses	0.0	0.0
Fair Value	5.7	2.0
Unrealized Losses	0.0	0.0
Residential mortgage-backed securities
Less than 12 months
Fair Value	11.1	2.3
Unrealized Losses	(1.3)	0.0
12 months or greater
Fair Value	0.7	8.2
Unrealized Losses	(0.2)	(0.6)
Fair Value	11.8	10.5
Unrealized Losses	(1.5)	(0.6)
Commercial mortgage-backed securities
Less than 12 months
Fair Value	56.1	58.1
Unrealized Losses	(21.9)	(0.6)
12 months or greater
Fair Value	0.0	0.2
Unrealized Losses	0.0	0.0
Fair Value	56.1	58.3
Unrealized Losses	(21.9)	(0.6)
Asset-backed securities
Less than 12 months
Fair Value	226.3	126.5
Unrealized Losses	(20.3)	(1.5)
12 months or greater
Fair Value	132.2	255.8
Unrealized Losses	(26.6)	(15.5)
Fair Value	358.5	382.3
Unrealized Losses	(46.9)	(17.0)
Corporate and other
Less than 12 months
Fair Value	396.2	169.6
Unrealized Losses	(42.0)	(3.7)
12 months or greater
Fair Value	83.4	177.4
Unrealized Losses	(28.4)	(11.5)
Fair Value	479.6	347.0
Unrealized Losses	$ (70.4)	$ (15.2)

Equity - Summary of Cash Dividends (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Equity [Abstract]
Total Dividend	$ 0.2	$ 0.2

Summarized operating results of the discontinued operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenue	$ 0.0	$ 39.4	$ 17.3	$ 81.8
Cost of revenue	0.0	30.6	18.2	63.8
Selling, general and administrative	0.0	5.9	13.7	11.9
Depreciation and amortization	0.0	6.4	3.8	13.0
Other operating expenses	0.0	(0.8)	0.0	(0.2)
Loss from operations	0.0	(2.7)	(18.4)	(6.7)
Interest expense	0.0	(3.9)	(3.6)	(7.4)
Loss on sale of subsidiary	0.0	0.0	39.3	0.0
(Loss) income from equity investees	0.0	(1.1)	0.5	(0.1)
Other income	0.0	0.1	0.9	0.0
Pre-tax loss from discontinued operations	0.0	(7.6)	(59.9)	(14.2)
Income tax benefit (expense)	0.0	(0.1)	(0.1)	(0.1)
Loss from discontinued operations	$ 0.0	$ (7.7)	$ (60.0)	$ (14.3)

Goodwill and Intangibles, net (Tables)

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

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

The carrying amount of goodwill by segment was as follows (in millions):


	Construction					Energy	Broadcasting				Total
Balance at December 31, 2019		$	89.0	$	2.1		$	21.4	$	112.5




Translation		0.1		—			—		0.1
Balance at June 30, 2020		$	89.1	$	2.1		$	21.4	$	112.6

Schedule of Indefinite-Lived Intangible Assets

The carrying amount of indefinite-lived intangible assets were as follows (in millions):


	June 30,		December 31,
	2020		2019
FCC licenses	$	136.5	$	136.2
State licenses	2.5		2.5
Total	$	139.0	$	138.7

Schedule of Intangible Assets Subject to Amortization

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


	Weighted-Average Original Useful Life	June 30, 2020													December 31, 2019
				Gross Carrying Amount	Accumulated Amortization						Net			Gross Carrying Amount	Accumulated Amortization		Net
Trade names	13 Years	$	24.2		$	(7.6)	$	16.6	$	24.2		$	(6.6)		$	17.6
Customer relationships	10 Years	48.5			(15.3)		33.2		48.6			(13.1)			35.5
Channel sharing arrangements	35 Years	27.2			(1.3)		25.9		27.2			(0.9)			26.3

Other	7 Years	5.7			(2.2)		3.5		5.5			(1.9)			3.6
Total		$	105.6		$	(26.4)	$	79.2	$	105.5		$	(22.5)		$	83.0

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

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


2020	$	4.1
2021	7.8
2022	7.6
2023	7.5
2024	7.0
Thereafter	45.2
Total	$	79.2

Commitments and Contingencies - Narrative (Details) - USD ($)	Jun. 30, 2020	May 08, 2020	May 06, 2020	Dec. 31, 2019	Nov. 06, 2014
Loss Contingencies [Line Items]
Common stock, shares issued (in shares)	47,660,135			46,810,676
Damages sought			$ 2,500,000
DBMG Class Action \| Pending Litigation [Member]
Loss Contingencies [Line Items]
Settlement (in usd per share)		$ 35.95
Damages sought, additional shares (in shares)	300
Damages sought, shares increase adjustment	$ 11,000
Damages sought (shares)	568,850
Damages sought	$ 20,400,000
Settlement, contribution		$ 1,000,000.0
Settlement, contribution from other party	8,060,000.00	$ 8,100,000
Litigation, ownership percentage		7.52%
Litigation settlement, contribution (in usd per share)		$ 3.51
DBMG Class Action \| Pending Litigation [Member] \| Insurance [Member]
Loss Contingencies [Line Items]
Settlement, contribution	$ 12,340,000
DBMG Class Action Payment One \| Pending Litigation [Member]
Loss Contingencies [Line Items]
Settlement (in usd per share)		$ 2.51
Damages sought (shares)		289,902
Damages sought		$ 700,000
DBMG Class Action Payment Two \| Pending Litigation [Member]
Loss Contingencies [Line Items]
Settlement (in usd per share)		$ 1.00
Damages sought		$ 300,000
DBMG
Loss Contingencies [Line Items]
Common stock, shares issued (in shares)					721,000

Investments (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The following tables provide information relating to investments in fixed maturity securities (in millions):


June 30, 2020	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Government and government agencies	$	7.3	$	1.2	$	—	$	8.5
States, municipalities and political subdivisions	386.0		50.7		—		436.7

Residential mortgage-backed securities	57.0		4.2		(1.5)		59.7
Commercial mortgage-backed securities	111.9		1.2		(21.9)		91.2
Asset-backed securities	575.8		2.6		(46.9)		531.5
Corporate and other	2,686.8		372.3		(70.4)		2,988.7
Total fixed maturity securities	$	3,824.8	$	432.2	$	(140.7)	$	4,116.3


December 31, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
U.S. Government and government agencies	$	7.0	$	0.7	$	—	$	7.7
States, municipalities and political subdivisions	405.4		34.7		—		440.1

Residential mortgage-backed securities	63.0		4.5		(0.6)		66.9
Commercial mortgage-backed securities	108.2		1.8		(0.6)		109.4
Asset-backed securities	592.6		2.2		(17.0)		577.8
Corporate and other	2,569.1		273.1		(15.2)		2,827.0
Total fixed maturity securities	$	3,745.3	$	317.0	$	(33.4)	$	4,028.9


	June 30, 2020						December 31, 2019
Fixed maturity securities	Unrealized Losses		% of Total		Unrealized Losses		% of Total
Less than 20%	$	(56.8)	40.3	%	$	(32.6)	97.6	%
20% or more for less than six months	(82.7)		58.8	%	—		—	%
20% or more for six months or greater	(1.2)		0.9	%	(0.8)		2.4	%
Total	$	(140.7)	100.0	%	$	(33.4)	100.0	%

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	$	40.1	$	40.4
Due after one year through five years	272.1		275.4
Due after five years through ten years	420.4		437.9
Due after ten years	2,347.5		2,680.2
Subtotal	3,080.1		3,433.9
Mortgage-backed securities	168.9		150.9
Asset-backed securities	575.8		531.5
Total	$	3,824.8	$	4,116.3

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 millions):


	June 30, 2020										December 31, 2019
	Amortized Cost		Fair Value		% of Total		Amortized Cost		Fair Value		% of Total
Finance, insurance, and real estate	$	814.1	$	839.9	28.1	%	$	632.2	$	674.9	23.8	%
Transportation, communication and other services	695.6		763.1		25.5	%	785.7		855.2		30.3	%
Manufacturing	703.2		843.2		28.2	%	728.7		825.9		29.2	%
Other	473.9		542.5		18.2	%	422.5		471.0		16.7	%
Total	$	2,686.8	$	2,988.7	100.0	%	$	2,569.1	$	2,827.0	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 recognized the following (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net realized and unrealized gains on investments	$	0.1	$	—	$	0.9	$	—
Other income (expenses), net	—		—		0.1		—
Total other-than-temporary impairments	$	0.1	$	—	$	1.0	$	—

Schedule of Estimated Fair Value and Gross Unrealized Loss


June 30, 2020	Less than 12 months									12 months or greater									Total
			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses

States, municipalities and political subdivisions	$	5.7		$	—		$	—		$	—		$	5.7		$	—

Residential mortgage-backed securities	11.1			(1.3)			0.7			(0.2)			11.8			(1.5)
Commercial mortgage-backed securities	56.1			(21.9)			—			—			56.1			(21.9)
Asset-backed securities	226.3			(20.3)			132.2			(26.6)			358.5			(46.9)
Corporate and other	396.2			(42.0)			83.4			(28.4)			479.6			(70.4)
Total fixed maturity securities	$	695.4		$	(85.5)		$	216.3		$	(55.2)		$	911.7		$	(140.7)


December 31, 2019	Less than 12 months									12 months of greater									Total
			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses			Fair Value			Unrealized Losses
U.S. Government and government agencies	$	0.3		$	—		$	—		$	—		$	0.3		$	—
States, municipalities and political subdivisions	2.0			—			—			—			2.0			—

Residential mortgage-backed securities	2.3			—			8.2			(0.6)			10.5			(0.6)
Commercial mortgage-backed securities	58.1			(0.6)			0.2			—			58.3			(0.6)
Asset-backed securities	126.5			(1.5)			255.8			(15.5)			382.3			(17.0)
Corporate and other	169.6			(3.7)			177.4			(11.5)			347.0			(15.2)
Total fixed maturity securities	$	358.8		$	(5.8)		$	441.6		$	(27.6)		$	800.4		$	(33.4)

Debt Securities, Trading, and Equity Securities, FV-NI

The following tables provide information relating to investments in equity securities measured at fair value (in millions):


	June 30,		December 31,
Equity securities	2020		2019
Common stock	$	5.8	$	10.5
Perpetual preferred stock	68.0		82.0
Total equity securities	$	73.8	$	92.5

Net Investment Income

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Fixed maturity securities, available-for-sale at fair value	$	45.0	$	43.7	$	90.6	$	87.3
Equity securities	0.8		2.1		1.9		4.6
Mortgage loans	3.2		3.1		8.5		6.8
Policy loans	0.3		0.2		0.6		0.6
Other invested assets	(0.5)		1.4		(0.5)		2.6
Gross investment income	48.8		50.5		101.1		101.9
External investment expense	(0.3)		(0.2)		(0.7)		(0.5)
Net investment income	$	48.5	$	50.3	$	100.4	$	101.4

Net Realized Gain (Loss) on Investments

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Realized gains on fixed maturity securities	$	8.4	$	4.2	$	12.0	$	5.1
Realized losses on fixed maturity securities	(12.4)		(3.3)		(13.1)		(5.1)
Realized gains on equity securities	0.2		0.3		0.2		0.4
Realized losses on equity securities	(0.1)		(0.2)		(0.1)		(1.1)
Realized gains on mortgage loans	0.1		—		0.2		—

Net unrealized gains (losses) on equity securities	3.0		(1.6)		(18.5)		5.8
Net unrealized gains (losses) on derivative instruments	0.4		(0.9)		0.6		(1.1)
Impairment loss	(0.1)		—		(0.9)		—
Net realized and unrealized gains (losses)	$	(0.5)	$	(1.5)	$	(19.6)	$	4.0

Share-based Compensation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	0	0	0	0
Share-based compensation expense	$ 300,000	$ 1,700,000	$ 1,800,000	$ 3,000,000.0
Intrinsic value of options outstanding	0		$ 0
Average remaining life of option outstanding			2 years 9 months
Intrinsic value of exercisable options	$ 0		$ 0
Average remaining life of exercisable options			2 years 9 months 18 days
Unvested shares expected to vest (in shares)	39,505		39,505
Weighted average remaining life			4 years 14 days
Weighted average exercise price (in usd per share)	$ 5.45		$ 5.45
Intrinsic value	$ 0		$ 0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	1,100,000		$ 1,100,000
Unrecognized compensation expense, period for recognition			1 year
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 100,000		$ 100,000
Unrecognized compensation expense, period for recognition			8 months 15 days

Fair Value of Financial Instruments - Schedule of Financial Instruments Measured on Not Measured at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Assets
Mortgage loans	$ 128.8	$ 183.5
Policy loans	18.5	19.1
Other invested assets	60.8	68.1
Nonrecurring \| Level 1
Assets
Other invested assets	0.0
Nonrecurring \| Level 2
Assets
Other invested assets	0.0
Nonrecurring \| Level 3
Assets
Other invested assets	11.3
Nonrecurring \| Estimated Fair Value
Assets
Mortgage loans	128.8	183.5
Policy loans	18.5	19.1
Other invested assets	11.3
Total assets accounted for at fair value	158.6	202.6
Liabilities
Annuity benefits accumulated	227.5	231.0
Long-term obligations	639.0	768.9
Financial and Nonfinancial Liabilities, Fair Value Disclosure	866.5	999.9
Nonrecurring \| Estimated Fair Value \| Level 1
Assets
Mortgage loans	0.0	0.0
Policy loans	0.0	0.0
Total assets accounted for at fair value	0.0	0.0
Liabilities
Annuity benefits accumulated	0.0	0.0
Long-term obligations	0.0	0.0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	0.0	0.0
Nonrecurring \| Estimated Fair Value \| Level 2
Assets
Mortgage loans	0.0	0.0
Policy loans	18.5	19.1
Total assets accounted for at fair value	18.5	19.1
Liabilities
Annuity benefits accumulated	0.0	0.0
Long-term obligations	639.0	768.9
Financial and Nonfinancial Liabilities, Fair Value Disclosure	639.0	768.9
Nonrecurring \| Estimated Fair Value \| Level 3
Assets
Mortgage loans	128.8	183.5
Policy loans	0.0	0.0
Total assets accounted for at fair value	140.1	183.5
Liabilities
Annuity benefits accumulated	227.5	231.0
Long-term obligations	0.0	0.0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	227.5	231.0
Nonrecurring \| Carrying Value
Assets
Mortgage loans	128.8	183.5
Policy loans	18.5	19.1
Other invested assets	11.3
Total assets accounted for at fair value	158.6	202.6
Liabilities
Annuity benefits accumulated	230.2	233.9
Long-term obligations	632.5	772.0
Financial and Nonfinancial Liabilities, Fair Value Disclosure	$ 862.7	$ 1,005.9

Commitments and Contingencies - Purchase Obligations and Non-Cancellable Operating Leases (Details) $ in Millions	Jun. 30, 2020 USD ($)
Purchase Obligations
2020	$ 86.3
2021	3.3
2022	0.2
2023	0.2
2024	0.2
Thereafter	0.0
Total obligations	$ 90.2

Debt Obligations - Narrative (Details)	1 Months Ended				3 Months Ended		6 Months Ended
Debt Obligations - Narrative (Details)	Jun. 30, 2020 USD ($)	May 31, 2020 USD ($)	Apr. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Feb. 28, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt					$ 3,400,000	$ 0	$ 9,200,000	$ 0
Minimum
Debt Instrument [Line Items]
Capital leases rate (as a percent)							2.00%
Maximum
Debt Instrument [Line Items]
Capital leases rate (as a percent)							11.50%
11.50% Senior Secured Notes, due 2021
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt	$ 3,400,000			$ 5,400,000
Outstanding debt	$ 50,600,000			$ 76,900,000	50,600,000		$ 50,600,000
Interest rate (as a percent)				11.50%
Convertible notes, conversion ratio	1.045			1.045
Revolving Credit Agreement
Debt Instrument [Line Items]
Face amount				$ 15,000,000.0					$ 15,000,000.0
Gain (loss) on extinguishment of debt				$ 400,000
Proceeds from lines of credit		$ 5,000,000.0	$ 10,000,000.0
Energy \| LIBOR plus 3.0% Term Loan due in 2023 (1)
Debt Instrument [Line Items]
Outstanding debt	$ 25,800,000				25,800,000		$ 25,800,000			$ 27,100,000
Energy \| LIBOR plus 3.0% Term Loan due in 2023 (1) \| LIBOR \| ANG
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)							3.00%
Energy \| 5.00% Term Loan due in 2022(1)
Debt Instrument [Line Items]
Outstanding debt	$ 10,600,000				$ 10,600,000		$ 10,600,000			11,200,000
Interest rate (as a percent)	5.00%				5.00%		5.00%
Energy \| 4.50% Note due in 2022 (1)
Debt Instrument [Line Items]
Outstanding debt	$ 9,600,000				$ 9,600,000		$ 9,600,000			10,200,000
Interest rate (as a percent)	4.50%				4.50%		4.50%
Broadcasting \| 8.50% Note due 2020
Debt Instrument [Line Items]
Face amount									$ 39,300,000
Outstanding debt	$ 39,300,000				$ 39,300,000		$ 39,300,000			36,200,000
Broadcasting \| 10.50% Note due 2020
Debt Instrument [Line Items]
Outstanding debt	$ 42,500,000				$ 42,500,000		$ 42,500,000			42,500,000
Interest rate (as a percent)	10.50%				10.50%		10.50%
Non-Operating Corporate \| 11.50% Senior Secured Notes, due 2021
Debt Instrument [Line Items]
Outstanding debt	$ 342,400,000				$ 342,400,000		$ 342,400,000			470,000,000.0
Interest rate (as a percent)	11.50%				11.50%		11.50%
Non-Operating Corporate \| 7.50% Convertible Senior Notes, due 2022
Debt Instrument [Line Items]
Outstanding debt	$ 55,000,000.0				$ 55,000,000.0		$ 55,000,000.0			55,000,000.0
Interest rate (as a percent)	7.50%				7.50%		7.50%
Non-Operating Corporate \| LIBOR plus 6.75% Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				6.75%			6.75%
Outstanding debt	$ 15,000,000.0				$ 15,000,000.0		$ 15,000,000.0			$ 15,000,000.0

Accounts Payable and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Current Liabilities

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


	June 30,		December 31,
	2020		2019
Accounts payable	$	114.9	$	134.6
Accrued expenses and other current liabilities	65.3		75.2
Accrued interconnection costs	35.7		43.5
Accrued payroll and employee benefits	40.7		39.6
Accrued interest	13.6		11.3
Accrued income taxes	12.8		2.0
Total accounts payable and other current liabilities	$	283.0	$	306.2

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	001-35210
Entity Registrant Name	HC2 HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1708481
Entity Address, Address Line One	450 Park Avenue
Entity Address, Address Line Two	29th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	235-2690
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	HCHC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0001006837
Current Fiscal Year End Date	--12-31
Shares outstanding (in shares)		46,803,140

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Restricted Cash and Cash Equivalents

The following table provides supplemental cash flow information and a reconciliation of cash and cash equivalents and restricted cash to amounts reported within the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows (in millions):


	June 30,
	2020		2019
Cash and cash equivalents, beginning of period	$	228.8	$	315.9
Restricted cash included in other assets	1.6		5.4
Total cash and cash equivalents and restricted cash	$	230.4	$	321.3

Cash and cash equivalents, end of period	$	203.8	$	271.2
Restricted cash included in other assets	1.5		1.5
Total cash and cash equivalents and restricted cash	$	205.3	$	272.7

Supplemental cash flow information:
Cash paid for interest	$	34.1	$	32.7
Cash paid for taxes, net of (refunds)	$	7.8	$	3.6
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable	$	5.2	$	6.0
Investments included in accounts receivable	$	20.0	$	9.7
Investments included in accounts payable	$	8.6	$	31.6

Schedule of Other Income

The following table provides information related to Other income (loss) (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Gain (loss) on embedded derivatives	$	(8.1)	$	3.2	$	(5.7)	$	5.6
Gain on sale of equity method investments	71.1		—		71.1		—
Other income (expense), net	1.0		(8.0)		1.4		(7.0)
Total	$	64.0	$	(4.8)	$	66.8	$	(1.4)

Schedule of Cash and Cash Equivalents


	June 30,
	2020		2019
Cash and cash equivalents, beginning of period	$	228.8	$	315.9
Restricted cash included in other assets	1.6		5.4
Total cash and cash equivalents and restricted cash	$	230.4	$	321.3

Cash and cash equivalents, end of period	$	203.8	$	271.2
Restricted cash included in other assets	1.5		1.5
Total cash and cash equivalents and restricted cash	$	205.3	$	272.7

Supplemental cash flow information:
Cash paid for interest	$	34.1	$	32.7
Cash paid for taxes, net of (refunds)	$	7.8	$	3.6
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable	$	5.2	$	6.0
Investments included in accounts receivable	$	20.0	$	9.7
Investments included in accounts payable	$	8.6	$	31.6

Life, Accident and Health Reserves

6 Months Ended

Jun. 30, 2020

Insurance [Abstract]

Life, Accident and Health Reserves

12. Life, Accident and Health Reserves

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


	June 30,		December 31,
	2020		2019
Long-term care insurance reserves	$	4,250.6	$	4,201.6
Traditional life insurance reserves	168.3		173.4
Other accident and health insurance reserves	189.9		192.1
Total life, accident and health reserves	$	4,608.8	$	4,567.1

The following table sets forth changes in the liability for claims for the portion of our long-term care insurance reserves (in millions):


	Six Months Ended June 30,
	2020		2019
Beginning balance	$	761.3	$	738.7
Less: recoverable from reinsurers	(131.0)		(136.4)
Beginning balance, net	630.3		602.3




Incurred related to insured events of:
Current year	112.2		108.8
Prior years	(11.3)		(41.2)
Total incurred	100.9		67.6
Paid related to insured events of:
Current year	(3.8)		(2.9)
Prior years	(82.4)		(74.1)
Total paid	(86.2)		(77.0)
Interest on liability for policy and contract claims	11.3		10.7
Ending balance, net	656.3		603.6
Add: recoverable from reinsurers	139.5		137.4
Ending balance	$	795.8	$	741.0

The Insurance segment experienced a favorable claims reserve development of $11.3 million and $41.2 million for the six months ended June 30, 2020 and 2019, respectively. There was favorable development with claim terminations and care transitions for claims incurred prior to 2020 that created the sufficiency within the six months ended June 30, 2020. Due to favorable development in the estimates for benefits remaining during the six months ended June 30, 2019, experience in the first half of 2020 has been less favorable than in 2019, but it is too early to determine if this trend will be persistent or is the result of normal volatility in claims activity from period to period.

Investments - Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Total equity securities	$ 73.8	$ 92.5
Common stock
Debt Securities, Available-for-sale [Line Items]
Total equity securities	5.8	10.5
Perpetual preferred stock
Debt Securities, Available-for-sale [Line Items]
Total equity securities	$ 68.0	$ 82.0

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 15.4	$ 1.1	$ 2.8	$ 5.1

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Operating Segment and Related Information - Long-term investments, Property and Equipment and Assets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	$ 4,398.2	$ 4,392.1
Total Assets	6,633.3	6,958.3
Operating Segments \| Construction
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	0.9	0.9
Total Assets	523.0	530.4
Operating Segments \| Insurance
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	4,446.1	4,423.0
Total Assets	5,650.0	5,611.9
Operating Segments \| Life Sciences
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	22.2	22.0
Total Assets	32.8	28.4
Operating Segments \| Broadcasting
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	256.6	257.9
Operating Segments \| Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	31.1	43.1
Total Assets	37.3	366.3
Operating Segments \| Energy
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	137.4	142.8
Operating Segments \| Telecommunications
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	81.3	89.3
Corporate
Revenues from External Customers and Long-Lived Assets [Line Items]
Total Assets	15.7	27.2
Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Investments	(102.1)	(96.9)
Total Assets	$ (100.8)	$ (95.9)

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 28.5	$ 9.2	$ (72.5)	$ 2.9
Other comprehensive income (loss)
Foreign currency translation adjustment	3.8	(0.7)	4.0	0.2
Unrealized gains (losses) on available-for-sale securities	283.8	81.4	7.8	229.6
Dispositions	(0.7)	0.0	22.1	0.0
Other comprehensive income (loss)	286.9	80.7	33.9	229.8
Comprehensive income (loss)	315.4	89.9	(38.6)	232.7
Comprehensive income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests	16.2	0.4	7.3	3.6
Comprehensive income (loss) attributable to HC2 Holdings, Inc.	$ 331.6	$ 90.3	$ (31.3)	$ 236.3

Subsequent Events (Details) - Subsequent Event $ / shares in Units, $ in Millions	Aug. 06, 2020 USD ($) $ / shares
Subsequent Event [Line Items]
Dividends receivable	$ 4.5
Payments for preferred stock	14.0
Construction
Subsequent Event [Line Items]
Dividends	$ 5.0
Dividends payable (in usd per share) \| $ / shares	$ 1.30
Energy \| Term Loan
Subsequent Event [Line Items]
Outstanding debt	$ 57.0
Interest rate (as a percent)	14.00%
Accordion, additional borrowing capacity	$ 10.0
Energy \| Term Loan Delayed Draw [Member]
Subsequent Event [Line Items]
Outstanding debt	8.0
Energy \| Revolving Credit Facility
Subsequent Event [Line Items]
Outstanding debt	$ 2.5

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income (loss)	$ (72.5)	$ 2.9
Less: Loss from discontinued operations, net of tax	(60.0)	(14.3)
Income (loss) from continuing operations	(12.5)	17.2
Adjustments to reconcile net income (loss) to cash provided by continuing operating activities
Depreciation and amortization	6.3	6.0
Amortization of deferred financing costs and debt discount	7.7	5.7
Amortization of (discount) premium on investments	4.1	3.9
Loss on early extinguishment or restructuring of debt	9.2	0.0
Loss (income) from equity investees	2.7	(1.3)
Deferred income taxes	18.4	(1.7)
Net realized and unrealized gains on investments	(53.8)	(3.5)
Other operating activities	12.0	4.3
Changes in assets and liabilities, net of acquisitions and disposition:
Accounts receivable	50.1	30.6
Recoverable from reinsurers	(4.8)	0.2
Other assets	(44.5)	2.9
Life, accident and health reserves	41.6	12.9
Accounts payable and other current liabilities	(2.6)	(30.2)
Other liabilities	14.7	(13.4)
Cash provided by continuing operating activities	48.6	33.6
Cash (used in) provided by discontinued operating activities	(0.8)	3.2
Cash provided by operating activities	47.8	36.8
Cash flows from investing activities
Purchase of property, plant and equipment	(11.7)	(11.0)
Disposal of property, plant and equipment	0.6	1.1
Purchase of investments	(523.5)	(575.3)
Sale of investments	394.9	449.3
Maturities and redemptions of investments	52.1	37.2
Sale of equity method investments	85.5	0.0
Cash received from dispositions, net	144.0	0.0
Cash paid for acquisitions, net	0.0	(53.5)
Other investing activities	4.0	3.2
Cash provided by (used in) continuing investing activities	145.9	(149.0)
Cash used in discontinued investing activities	(7.0)	(5.6)
Cash provided by (used in) investing activities	138.9	(154.6)
Cash flows from financing activities
Proceeds from debt obligations	0.0	77.2
Principal payments on debt obligations	(157.4)	(5.1)
Cash received by subsidiary to issue preferred stock	0.0	8.9
Cash paid by subsidiary to purchase HC2 preferred stock	0.0	(8.3)
Annuity receipts	0.9	1.1
Annuity surrenders	(7.4)	(9.5)
Transactions with noncontrolling interests	(52.1)	5.5
Other financing activities	(4.2)	(3.3)
Cash (used in) provided by continuing financing activities	(220.2)	66.5
Cash (used in) provided by discontinued financing activities	(2.4)	2.5
Cash (used in) provided by financing activities	(222.6)	69.0
Effects of exchange rate changes on cash, cash equivalents and restricted cash	0.6	0.3
Net change in cash, cash equivalents and restricted cash	(25.1)	(48.6)
Cash, cash equivalents and restricted cash, beginning of period	230.4	321.3
Cash, cash equivalents and restricted cash, end of period	$ 205.3	$ 272.7

Property, Plant, and Equipment, net (Tables)

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Summary of Property, Plant, and Equipment

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


	June 30,		December 31,
	2020		2019
Equipment, furniture and fixtures, and software	$	221.6	$	212.8
Building and leasehold improvements	41.0		40.1
Land	36.5		36.8
Construction in progress	3.9		4.8
Plant and transportation equipment	4.9		5.2
	307.9		299.7
Less: Accumulated depreciation	87.7		76.0
Total	$	220.2	$	223.7

Share-based Compensation

6 Months Ended

Jun. 30, 2020

Share-based Payment Arrangement [Abstract]

Share-based Compensation

17. Share-based Compensation

The Company granted zero options during the three and six ended June 30, 2020 and 2019, respectively.

Total share-based compensation expense recognized by HC2 and its subsidiaries under all equity compensation arrangements was $0.3 million and $1.7 million for the three months ended June 30, 2020 and 2019, respectively.

Total share-based compensation expense recognized by HC2 and its subsidiaries under all equity compensation arrangements was $1.8 million and $3.0 million for the six months ended June 30, 2020 and 2019, respectively.

All grants are time based and vest either immediately or over a period established at grant. 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, 2019	2,213,775	$	5.12
Granted	—	$	—
Vested	(1,174,170)	$	5.05
Forfeited	(450,967)	$	6.07
Unvested - June 30, 2020	588,638	$	4.55

At June 30, 2020, the total unrecognized stock-based compensation expense related to unvested restricted stock was $1.1 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted average period of 1.0 year.

Stock Options

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


	Shares	Weighted Average Exercise Price
Outstanding - December 31, 2019	7,067,592	$	6.52
Granted	—	$	—
Exercised	—	$	—
Forfeited	(142,503)	$	5.45
Expired	(51,745)	$	5.48
Outstanding - June 30, 2020	6,873,344	$	6.55

Eligible for exercise	6,833,839	$	6.56

At June 30, 2020, the intrinsic value and average remaining life of the Company's outstanding options were zero and approximately 2.75 years, and intrinsic value and average remaining life of the Company's exercisable options were zero and approximately 2.8 years.

At June 30, 2020, total unrecognized stock-based compensation expense related to unvested stock options was $0.1 million. The unrecognized compensation cost is expected to be recognized over the remaining weighted average period of 0.71 years. There are 39,505 unvested stock options expected to vest, with a weighted average remaining life of 4.04 years, a weighted average exercise price of $5.45, and an intrinsic value of zero.

Revenue (Tables)

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Reconciliation of Revenue from Segments to Consolidated

Revenue from contracts with customers consist of the following (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenue⁽¹⁾
Construction	$	172.3	$	195.7	$	348.8	$	387.8

Energy	10.3		5.5		20.7		10.6
Telecommunications	107.3		189.3		293.7		344.8
Broadcasting	9.5		10.0		19.6		19.8

Total revenue	$	299.4	$	400.5	$	682.8	$	763.0

⁽¹⁾ The Insurance segment does not have revenues in scope of ASC 606.

Schedule of Accounts Receivable

Accounts receivables, net from contracts with customers consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Accounts receivables with customers
Construction	$	176.1	$	199.2

Energy	12.1		31.1
Telecommunications	43.9		51.9
Broadcasting	7.1		8.5
Total accounts receivables with customers	$	239.2	$	290.7

Accounts receivable, net consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Contracts in progress	$	125.3	$	177.8
Trade receivables	51.7		60.6
Unbilled retentions	63.9		53.9
Other receivables	21.8		21.0
Allowance for doubtful accounts	(1.5)		(1.5)
Total accounts receivable, net	$	261.2	$	311.8

Disaggregation of Revenue

The following table disaggregates DBMG's revenue by market (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Commercial	$	54.0	$	52.9	$	116.8	$	112.3
Convention	1.4		28.4		3.8		57.1
Healthcare	4.7		13.6		12.6		22.4
Industrial	59.6		62.7		118.4		116.5
Transportation	23.5		16.3		39.9		34.4
Leisure	11.3		11.5		27.3		26.3
Other	17.2		10.1		29.4		18.6
Total revenue from contracts with customers	171.7		195.5		348.2		387.6
Other revenue	0.6		0.2		0.6		0.2
Total Construction segment revenue	$	172.3	$	195.7	$	348.8	$	387.8

The following table disaggregates ANG's revenue by type (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Volume-related	$	8.3	$	5.3	$	17.0	$	10.1
Maintenance services	—		—		—		—
Total revenue from contracts with customers	8.3		5.3		17.0		10.1
RNG incentives	0.1		0.1		0.2		0.4
Alternative fuel tax credit	1.3		—		2.7		—
Other revenue	0.6		0.1		0.8		0.1
Total Energy segment revenue	$	10.3	$	5.5	$	20.7	$	10.6

ICS's revenues are predominantly derived from wholesale of international long distance minutes (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Termination of long distance minutes	$	107.3	$	189.3	$	293.7	$	344.8
Total revenue from contracts with customers	107.3		189.3		293.7		344.8
Other revenue	—		—		—		—
Total Telecommunications segment revenue	$	107.3	$	189.3	$	293.7	$	344.8

The following table disaggregates the Broadcasting segment's revenue by type (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Network advertising	$	4.0	$	5.4	$	9.0	$	10.8
Broadcast station	3.8		2.9		7.3		5.6
Network distribution	1.0		1.2		2.1		2.7
Other	0.7		0.5		1.2		0.7
Total revenue from contracts with customers	9.5		10.0		19.6		19.8
Other revenue	—		—		—		—
Total Broadcasting segment revenue	$	9.5	$	10.0	$	19.6	$	19.8

Contract with Customer, Asset and Liability

Contract assets and contract liabilities consisted of the following (in millions):


	June 30,		December 31,
	2020		2019
Contract assets	$	57.7	$	50.6
Contract liabilities	$	(68.1)	$	(50.6)

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The transaction price allocated to remaining unsatisfied performance obligations consisted of the following (in millions):


	Within one year				Within five years				Total
Commercial	$	114.5			$	2.9			$	117.4
Convention	25.0				2.5				27.5
Healthcare	48.3				—				48.3
Industrial	80.5				—				80.5
Transportation	36.9				—				36.9
Leisure	13.3				—				13.3
Other	71.1				—				71.1
Remaining unsatisfied performance obligations			$	389.6			$	5.4			$	395.0

DBMG includes an additional $15.3 million in its backlog that is not included in the remaining unsatisfied performance obligations noted above. This backlog represents commitments under master service agreements that are estimated amounts of work to be performed based on customer communications, historic experience and knowledge of our customers' intentions.

Recoverable from Reinsurers

6 Months Ended

Jun. 30, 2020

Insurance [Abstract]

Recoverable from Reinsurers

9. Recoverable from Reinsurers

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


		June 30, 2020						December 31, 2019
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Munich American Reassurance Company	A+	$	359.0	37.4	%	$	347.6	36.4	%
Hannover Life Reassurance Company of America	A+	318.9		33.3	%	323.3		33.9	%
Loyal American Life Insurance Company	A	146.5		15.3	%	147.5		15.5	%
Great American Life Insurance Company	A	56.5		5.9	%	56.2		5.9	%
ManhattanLife Assurance Company of America	B+	47.0		4.9	%	47.0		4.9	%
Other		30.5		3.2	%	32.1		3.4	%
Total		$	958.4	100.0	%	$	953.7	100.0	%

Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Equity

18. Equity

Series A Preferred Stock and Series A-2 Preferred Stock

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


	June 30,	December 31,
	2020	2019
Preferred shares authorized, $0.001 par value	20,000,000	20,000,000
Series A shares issued and outstanding	6,375	6,375

Series A-2 shares issued and outstanding	4,000	4,000

Preferred Share Activity

CGI Purchase

On January 11, 2019, CGI purchased 10,000 shares of Series A-2 Preferred Stock, which are convertible into a total of 1,426,534 shares of the Company's common stock, for a total consideration of $8.3 million. The shares and dividends accrued related to the Series A-2 Preferred Stock owned by CGI are eliminated in consolidation. The shares were purchased at a discount of $1.7 million, which was recorded within the Preferred dividends, deemed dividends, and repurchase gains line item of the Condensed 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. In conjunction with the conversions, the Company 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.

•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 six months ended June 30, 2020, 159,400 and 17,933 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 $0.4 million on the date of issuance and was recorded within Preferred stock and deemed dividends from conversion line item of the Condensed Consolidated Statements of Operations as a deemed dividend.

Preferred Share Dividends

During the six months ended June 30, 2020 and 2019, HC2's Board of Directors declared cash dividends with respect to HC2’s issued and outstanding Preferred Stock, excluding Preferred Stock owned by CGI which is eliminated in consolidation, as presented in the following table (in millions):

2020


Declaration Date	March 31, 2020		June 30, 2020
Holders of Record Date	March 31, 2020		June 30, 2020
Payment Date	April 15, 2020		July 15, 2020
Total Dividend	$	0.2	$	0.2

2019

Declaration Date

March 31, 2019

June 30, 2019

Holders of Record Date

March 31, 2019

June 30, 2019

Payment Date

April 15, 2019

July 15, 2019

Total Dividend

0.2

Accounts Receivable, net

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Accounts Receivable, net

8. Accounts Receivable, net

Accounts receivable, net consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Contracts in progress	$	125.3	$	177.8
Trade receivables	51.7		60.6
Unbilled retentions	63.9		53.9
Other receivables	21.8		21.0
Allowance for doubtful accounts	(1.5)		(1.5)
Total accounts receivable, net	$	261.2	$	311.8

Debt Obligations

1 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

Debt Obligations

Debt obligations consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Construction
LIBOR plus 5.85% Note, due 2023	$	74.6	$	77.0
LIBOR plus 1.50% Line of Credit	30.9		48.9
Obligations under finance leases	0.2		0.2
Energy
LIBOR plus 3.0% Term Loan due in 2023⁽¹⁾	25.8		27.1
5.00% Term Loan due in 2022⁽¹⁾	10.6		11.2
4.50% Note due in 2022⁽¹⁾	9.6		10.2
Other, various maturity dates	2.4		2.4
Broadcasting

8.50% Note due 2020	39.3		36.2
10.50% Note due 2020	42.5		42.5
Other, various maturity dates	5.3		7.9
Obligations under finance leases	1.0		1.4
Non-Operating Corporate
11.50% Senior Secured Notes, due 2021	342.4		470.0
7.50% Convertible Senior Notes, due 2022	55.0		55.0
LIBOR plus 6.75% Line of Credit	15.0		15.0
Total	654.6		805.0
Issuance discount, net and deferred financing costs	(20.8)		(31.4)
Total debt obligations	$	633.8	$	773.6

(1) On August 6, 2020 the Energy segment entered into a new credit facility M&T bank. Proceeds from the loan and cash on hand were used to pay down the existing credit facilities with M&T and Pioneer as well as redeem its outstanding $14.0 million preferred stock, which carried a 14% interest rate. The new credit facility is comprised of a $57.0 millionterm loan facility, a $2.5 million revolving line of credit and an $8.0 million delayed draw term loan ear-marked for new station build, as well as a $10.0 million accordion feature.

Aggregate finance lease and debt payments, including interest, are as follows (in millions):


	Finance Leases		Debt		Total
2020	$	1.1	$	140.4	$	141.5
2021	0.2		418.6		418.8
2022	—		76.5		76.5
2023	—		94.3		94.3
2024	—		11.3		11.3
Thereafter	—		6.5		6.5
Total minimum principal & interest payments	1.3		747.6		748.9
Less: Amount representing interest	(0.1)		(94.2)		(94.3)
Total aggregate finance lease and debt payments	$	1.2	$	653.4	$	654.6

The interest rates on the finance leases range from approximately 2.0% to 11.5%.

Broadcasting

In February 2020, Broadcasting amended its agreement governing its privately placed note funded by MSD Partners, L.P., increasing the principal balance to $39.3 million. The proceeds were used to repay principal and interest on existing debt.

Non-Operating Corporate

In March 2020, with the cash proceeds from the sale of GMSL, HC2 fully repaid its $15.0 million secured revolving line of credit with MSD PCOF Partners IX, LLC (the "2019 Revolving Credit Agreement"). HC2 recognized $0.4 million in extinguishment loss related to the repayment of the 2019 Revolving Credit Agreement, which is included in Loss on early extinguishment or restructuring of debt in our Condensed Consolidated Statements of Operations.

In March 2020, HC2 entered into a new $15.0 million secured revolving credit agreement (the “2020 Revolving Credit Agreement”). The 2020 Revolving Credit Agreement matures in September 2021. Loans under the 2020 Revolving Credit Agreement bear interest at a per annum rate equal to, at HC2's option, one, two or three month LIBOR plus a margin of 6.75%. In April 2020 and May 2020, HC2 drew $10.0 million and $5.0 million of the 2020 Revolving Credit Agreement, respectively. The Company used the proceeds for general corporate purposes.

In March 2020, with the cash proceeds from the sale of GMSL, HC2 redeemed $76.9 million of its 11.50% senior secured notes due 2021 (the "Senior Secured Notes") at a price equal to 104.5% of the principal amount plus accrued interest through the redemption date. HC2 recognized $5.4 million in extinguishment loss related to the redemption of its Senior Secured Notes, which is included in Loss on early extinguishment or restructuring of debt in our Condensed Consolidated Statements of Operations.

In June 2020, with the cash proceeds from the partial sale of New Saxon's interest in HMN, HC2 redeemed $50.6 million of its Senior Secured Notes at a price equal to 104.5% of the principal amount plus accrued interest through the redemption date. HC2 recognized $3.4 million in extinguishment loss related to the this redemption, which is included in Loss on early extinguishment or restructuring of debt in our Condensed Consolidated Statements of Operations.

HC2 is in compliance with our debt covenants as of June 30, 2020.

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Investments [Abstract]
Fixed maturity securities, available-for-sale at fair value	$ 4,116.3	$ 4,028.9
Equity securities	73.8	92.5
Mortgage loans	128.8	183.5
Policy loans	18.5	19.1
Other invested assets	60.8	68.1
Total investments	4,398.2	4,392.1
Cash and cash equivalents	203.8	228.8
Accounts receivable, net	261.2	311.8
Recoverable from reinsurers	958.4	953.7
Deferred tax asset	2.2	2.7
Property, plant and equipment, net	220.2	223.7
Goodwill	112.6	112.5
Intangibles, net	218.2	221.7
Assets held for sale	0.0	323.3
Other assets	258.5	188.0
Total assets	6,633.3	6,958.3
Liabilities, temporary equity and stockholders’ equity
Life, accident and health reserves	4,608.8	4,567.1
Annuity reserves	233.1	236.4
Value of business acquired	209.6	221.1
Accounts payable and other current liabilities	283.0	306.2
Deferred tax liability	101.6	83.7
Debt obligations	633.8	773.6
Liabilities held for sale	0.0	153.9
Other liabilities	179.5	151.1
Total liabilities	6,249.4	6,493.1
Commitments and contingencies
Temporary equity
Preferred stock	10.3	10.3
Redeemable noncontrolling interest	8.4	11.3
Total temporary equity	18.7	21.6
Stockholders’ equity
Common stock	0.0	0.0
Additional paid-in capital	288.5	281.1
Treasury stock, at cost: 1,109,751 and 742,824 shares at June 30, 2020 and December 31, 2019, respectively	(4.2)	(3.3)
Accumulated deficit	(166.7)	(96.7)
Accumulated other comprehensive income (loss)	201.7	168.7
Total HC2 Holdings, Inc. stockholders’ equity	319.3	349.8
Noncontrolling interest	45.9	93.8
Total stockholders’ equity	365.2	443.6
Total liabilities, temporary equity and stockholders’ equity	$ 6,633.3	$ 6,958.3

Revenue - Schedule of Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total accounts receivables with customers	$ 239.2	$ 290.7
Construction
Segment Reporting Information [Line Items]
Total accounts receivables with customers	176.1	199.2
Energy
Segment Reporting Information [Line Items]
Total accounts receivables with customers	12.1	31.1
Telecommunications
Segment Reporting Information [Line Items]
Total accounts receivables with customers	43.9	51.9
Broadcasting
Segment Reporting Information [Line Items]
Total accounts receivables with customers	$ 7.1	$ 8.5

Operating Segment and Related Information - Geographic and Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 377.0	$ 479.2	$ 821.8	$ 928.2
Income (loss) from operations	4.9	33.6	(21.9)	59.2
Interest expense	(21.4)	(19.1)	(42.7)	(37.9)
Gain (Loss) on Extinguishment of Debt	(3.4)	0.0	(9.2)	0.0
Loss (income) from equity investees	0.2	(7.2)	2.7	(1.3)
Gain on bargain purchase	0.0	1.1	0.0	1.1
Other income (loss)	64.0	(4.8)	66.8	(1.4)
Income (loss) from continuing operations	28.5	16.9	(12.5)	17.2
Income (loss) from continuing operations before income taxes	43.9	18.0	(9.7)	22.3
Income tax expense	(15.4)	(1.1)	(2.8)	(5.1)
Less: Loss from discontinued operations, net of tax	0.0	(7.7)	(60.0)	(14.3)
Net income (loss)	28.5	9.2	(72.5)	2.9
Net (income) loss attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)	0.2	2.5	3.7
Net income (loss) attributable to HC2 Holdings, Inc.	13.1	9.4	(70.0)	6.6
Less: Preferred dividends, deemed dividends and repurchase gains	0.4	0.4	0.8	(0.8)
Net income (loss) attributable to common stock and participating preferred stockholders	12.7	9.0	(70.8)	7.4
Depreciation and Amortization	1.1	1.2	1.7	1.5
Capital Expenditures	5.6	7.7	11.7	11.0
Revenue	299.4	400.5	682.8	763.0
Construction
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	172.3	195.7	348.8	387.8
Capital Expenditures	1.1	2.8
Revenue	171.7	195.5	348.2	387.6
Energy
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	10.3	5.5	20.7	10.6
Capital Expenditures	0.6	0.2
Revenue	8.3	5.3	17.0	10.1
Telecommunications
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	107.3	189.3	293.7	344.8
Revenue	107.3	189.3	293.7	344.8
Insurance
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital Expenditures	0.0	0.0
Life Sciences
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital Expenditures	0.1	0.0
Broadcasting
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	9.5	10.0	19.6	19.8
Capital Expenditures	3.7	4.7
Revenue	9.5	10.0	19.6	19.8
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Capital Expenditures	0.1	0.0
Operating Segments
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	299.4	400.5
Operating Segments \| Construction
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	4.5	16.2	7.1	21.9
Depreciation and Amortization	2.7	4.0	5.3	7.9
Capital Expenditures			3.4	5.4
Revenue	172.3	195.7	348.8	387.8
Operating Segments \| Energy
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	2.2	(0.3)	3.9	(0.7)
Depreciation and Amortization	2.0	1.5	4.1	2.9
Capital Expenditures			1.6	0.3
Revenue	10.3	5.5	20.7	10.6
Operating Segments \| Telecommunications
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	0.2	0.2	0.3	0.8
Depreciation and Amortization	0.1	0.1	0.2	0.2
Revenue	107.3	189.3	293.7	344.8
Operating Segments \| Insurance
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	80.5	82.1	144.3	170.9
Income (loss) from operations	14.2	30.9	1.6	65.3
Depreciation and Amortization	(5.5)	(6.0)	(11.4)	(12.5)
Capital Expenditures			0.1	0.2
Operating Segments \| Life Sciences
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	(3.5)	(1.7)	(6.7)	(3.6)
Depreciation and Amortization	0.1	0.1	0.1	0.1
Capital Expenditures			0.1	0.0
Operating Segments \| Broadcasting
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	(1.2)	(1.7)	(4.1)	(5.0)
Depreciation and Amortization	1.7	1.5	3.4	2.9
Capital Expenditures			6.4	5.1
Revenue	9.5	10.0	19.6	19.8
Operating Segments \| Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	(0.6)	(0.1)	(1.6)	(0.1)
Capital Expenditures			0.1	0.0
Corporate
Revenues from External Customers and Long-Lived Assets [Line Items]
Income (loss) from operations	(8.0)	(6.5)	(17.1)	(13.7)
Eliminations
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	(2.9)	(3.4)	(5.3)	(5.7)
Income (loss) from operations	$ (2.9)	$ (3.4)	$ (5.3)	$ (5.7)

Investments - Narrative (Details) - security	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Number of fixed maturity and equity securities	201	139
Percentage of gross unrealized loss	100.00%	100.00%
Total fixed maturity securities \| Investment grade
Debt Securities, Available-for-sale [Line Items]
Percentage of gross unrealized loss	68.40%	68.30%
Percentage of fair value	84.80%	81.80%

Investments - Schedule of Fixed Maturity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 3,824.8
Unrealized Losses	(140.7)	$ (33.4)
Fair Value	4,116.3	4,028.9
Total fixed maturity securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,824.8	3,745.3
Unrealized Gains	432.2	317.0
Unrealized Losses	(140.7)	(33.4)
Fair Value	4,116.3	4,028.9
U.S. Government and government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	7.3	7.0
Unrealized Gains	1.2	0.7
Unrealized Losses	0.0	0.0
Fair Value	8.5	7.7
States, municipalities and political subdivisions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	386.0	405.4
Unrealized Gains	50.7	34.7
Unrealized Losses	0.0	0.0
Fair Value	436.7	440.1
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	57.0	63.0
Unrealized Gains	4.2	4.5
Unrealized Losses	(1.5)	(0.6)
Fair Value	59.7	66.9
Commercial mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	111.9	108.2
Unrealized Gains	1.2	1.8
Unrealized Losses	(21.9)	(0.6)
Fair Value	91.2	109.4
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	575.8	592.6
Unrealized Gains	2.6	2.2
Unrealized Losses	(46.9)	(17.0)
Fair Value	531.5	577.8
Corporate and other
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,686.8	2,569.1
Unrealized Gains	372.3	273.1
Unrealized Losses	(70.4)	(15.2)
Fair Value	$ 2,988.7	$ 2,827.0

Goodwill and Intangibles, net

6 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangibles, net

11. Goodwill and Intangibles, net

HC2 is required to assess goodwill and indefinite-intangible assets for impairment annually, or more frequently if circumstances indicate impairment may have occurred. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic and its impact on each of the reporting units. Further, the Company assessed the current market capitalization, forecasts and the amount of headroom in the 2019 impairment test.

As a result of this assessment, the Company determined that a “triggering event” had occurred relative to its Broadcasting segment in the first quarter of 2020 and, as required, performed a quantitative analysis, with the assistance of a third-party valuation firm, of the value of the Broadcasting reporting unit and its indefinite-lived intangible assets. Based on the analysis, the Company determined that the fair value of the Broadcasting reporting unit and the related indefinite-lived intangible assets continue to exceed their carrying values and were not impaired as of March 31, 2020.

Determining the fair value of the Broadcasting reporting unit and indefinite-lived intangible assets requires significant judgment and estimates by management, utilizing the income-approach, which utilizes several key inputs, including future cash flows consistent with management’s strategic plans, sales growth rates and a discount rate, amongst others. Estimating sales growth rates requires significant judgment by management in areas such as future economic conditions, growth rates, pricing, and consumer tastes and preferences. Given the inherent uncertainties in estimating the future impacts of the COVID-19 pandemic on global macroeconomic conditions and interest rates in general and on the Broadcasting business, actual results may differ from management’s current estimates and could have an adverse impact on one or more of the assumptions used in our quantitative models related to the Broadcasting reporting unit, resulting in potential impairment charges in subsequent periods. As of March 31, 2020, while the fair value of the Broadcasting reporting unit declined, the fair value of the Broadcasting reporting unit continued to exceed its carrying value.

The Company reviewed qualitative factors of potential impairment for Goodwill and Intangible assets in the second quarter of 2020, and noted there were no triggering events which would indicate impairment may have occurred.

The COVID-19 pandemic or other events could cause a further and sustained decline in the value of our reporting units or other triggering event that could cause the Company to perform a goodwill impairment test and result in an impairment charge being recorded in a future period.

Goodwill

The carrying amount of goodwill by segment was as follows (in millions):


	Construction					Energy	Broadcasting				Total
Balance at December 31, 2019		$	89.0	$	2.1		$	21.4	$	112.5




Translation		0.1		—			—		0.1
Balance at June 30, 2020		$	89.1	$	2.1		$	21.4	$	112.6

Indefinite-lived Intangible Assets

The carrying amount of indefinite-lived intangible assets were as follows (in millions):


	June 30,		December 31,
	2020		2019
FCC licenses	$	136.5	$	136.2
State licenses	2.5		2.5
Total	$	139.0	$	138.7

Definite Lived Intangible Assets

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


	Weighted-Average Original Useful Life	June 30, 2020													December 31, 2019
				Gross Carrying Amount	Accumulated Amortization						Net			Gross Carrying Amount	Accumulated Amortization		Net
Trade names	13 Years	$	24.2		$	(7.6)	$	16.6	$	24.2		$	(6.6)		$	17.6
Customer relationships	10 Years	48.5			(15.3)		33.2		48.6			(13.1)			35.5
Channel sharing arrangements	35 Years	27.2			(1.3)		25.9		27.2			(0.9)			26.3

Other	7 Years	5.7			(2.2)		3.5		5.5			(1.9)			3.6
Total		$	105.6		$	(26.4)	$	79.2	$	105.5		$	(22.5)		$	83.0

Amortization expense for definite lived intangible assets was $2.0 million and $2.9 million for the three months ended June 30, 2020 and 2019, respectively, and $4.0 million and $6.0 million for the six months ended June 30, 2020 and 2019, respectively. Amortization expense was included in Depreciation and amortization in our Condensed Consolidated Statements of Operations.


2020	$	4.1
2021	7.8
2022	7.6
2023	7.5
2024	7.0
Thereafter	45.2
Total	$	79.2

Revenue - Construction Segment Contract with Customer, Asset and Liability (Details) - Construction - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Contract assets	$ 57.7	$ 50.6
Contract liabilities	$ (68.1)	$ (50.6)

Operating Segment and Related Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Operating Segment and Related Information

20. Operating Segment and Related Information

The Company currently has one primary reportable geographic segments - United States. The Company has seven reportable operating segments based on management’s organization of the enterprise - Construction, Energy, Telecommunications, Insurance, Life Sciences, Broadcasting, Other, and a Non-operating Corporate segment. All inter-segment revenues are eliminated.

The Company's revenue concentrations of 10% and greater are as follows:

Three Months Ended June 30,

Six Months Ended June 30,

Segment

2020

2019

2020

2019

Customer A

Telecommunications

11.2%

11.4%

Customer B

Telecommunications

10.0%

* Less than 10% revenue concentration

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue
Construction	$	172.3	$	195.7	$	348.8	$	387.8
Energy	10.3		5.5		20.7		10.6
Telecommunications	107.3		189.3		293.7		344.8
Insurance	80.5		82.1		144.3		170.9

Broadcasting	9.5		10.0		19.6		19.8


Eliminations ^(*)	(2.9)		(3.4)		(5.3)		(5.7)
Total net revenue	$	377.0	$	479.2	$	821.8	$	928.2


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Income (loss) from operations
Construction	$	4.5	$	16.2	$	7.1	$	21.9
Energy	2.2		(0.3)		3.9		(0.7)
Telecommunications	0.2		0.2		0.3		0.8
Insurance	14.2		30.9		1.6		65.3
Life Sciences	(3.5)		(1.7)		(6.7)		(3.6)
Broadcasting	(1.2)		(1.7)		(4.1)		(5.0)
Other	(0.6)		(0.1)		(1.6)		(0.1)
Non-operating Corporate	(8.0)		(6.5)		(17.1)		(13.7)
Eliminations^(*)	(2.9)		(3.4)		(5.3)		(5.7)
Total income (loss) from operations	$	4.9	$	33.6	$	(21.9)	$	59.2

^(*) The Insurance segment revenues are inclusive of realized and unrealized gains and net investment income for the three and six months ended June 30, 2020 and 2019, inclusive of transactions between entities under common control, which are eliminated or are reclassified in consolidation.

A reconciliation of the Company's consolidated segment operating income to consolidated earnings before income taxes is as follows (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Income (loss) from operations	$	4.9	$	33.6	$	(21.9)	$	59.2
Interest expense	(21.4)		(19.1)		(42.7)		(37.9)

Loss on early extinguishment or restructuring of debt	(3.4)		—		(9.2)		—


(Loss) income from equity investees	(0.2)		7.2		(2.7)		1.3
Gain on bargain purchase	—		1.1		—		1.1
Other income (loss)	64.0		(4.8)		66.8		(1.4)
Income (loss) from continuing operations	43.9		18.0		(9.7)		22.3
Income tax expense	(15.4)		(1.1)		(2.8)		(5.1)
Income (loss) from continuing operations	28.5		16.9		(12.5)		17.2
Loss from discontinued operations (including loss on disposal of $39.3 million)	—		(7.7)		(60.0)		(14.3)
Net income (loss)	28.5		9.2		(72.5)		2.9
Net (income) loss attributable to noncontrolling interest and redeemable noncontrolling interest	(15.4)		0.2		2.5		3.7
Net income (loss) attributable to HC2 Holdings, Inc.	13.1		9.4		(70.0)		6.6
Less: Preferred dividends, deemed dividends and repurchase gains	0.4		0.4		0.8		(0.8)
Net income (loss) attributable to common stock and participating preferred stockholders	$	12.7	$	9.0	$	(70.8)	$	7.4


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Depreciation and Amortization
Construction	$	2.7	$	4.0	$	5.3	$	7.9
Energy	2.0		1.5		4.1		2.9
Telecommunications	0.1		0.1		0.2		0.2
Insurance ^(*)	(5.5)		(6.0)		(11.4)		(12.5)
Life Sciences	0.1		0.1		0.1		0.1
Broadcasting	1.7		1.5		3.4		2.9


Total	$	1.1	$	1.2	$	1.7	$	1.5

^(*) Balance includes amortization of negative VOBA, which increases net income.


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Capital Expenditures ^(*)
Construction	$	1.1	$	2.8	$	3.4	$	5.4
Energy	0.6		0.2		1.6		0.3

Insurance	—		—		0.1		0.2
Life Sciences	0.1		—		0.1		—
Broadcasting	3.7		4.7		6.4		5.1
Other	0.1		—		0.1		—

Total	$	5.6	$	7.7	$	11.7	$	11.0

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


	June 30,		December 31,
	2020		2019
Investments
Construction	$	0.9	$	0.9
Insurance	4,446.1		4,423.0


Life Sciences	22.2		22.0

Other	31.1		43.1

Eliminations	(102.1)		(96.9)
Total	$	4,398.2	$	4,392.1


	June 30,		December 31,
	2020		2019
Total Assets
Construction	$	523.0	$	530.4

Energy	137.4		142.8
Telecommunications	81.3		89.3
Insurance	5,650.0		5,611.9
Life Sciences	32.8		28.4
Broadcasting	256.6		257.9
Other	37.3		366.3
Non-operating Corporate	15.7		27.2
Eliminations	(100.8)		(95.9)
Total	$	6,633.3	$	6,958.3

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Organization and Business	6 Months Ended
Organization and Business	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	1. Organization and Business HC2 Holdings, Inc. ("HC2" and, together with its consolidated 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, Energy, Telecommunications, Insurance, Life Sciences, Broadcasting, 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 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 GrayWolf, DBMG provides services including maintenance, repair, and installation to a diverse range of end markets in order to provide high-quality outage, turnaround, and new installation services to customers. Through Aitken Manufacturing, DBMG manufactures pollution control scrubbers, tunnel liners, pressure vessels, strainers, filters, separators and a variety of customized products. The Company maintains an approximately 92% controlling interest in DBMG. 2.Our Energy segment is comprised of American Natural Energy Corp. (f/k/a American Natural Gas, Inc.) ("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 an approximately 69% controlling interest in ANG. 3.Our Telecommunications segment is comprised of PTGi International Carrier Services, Inc. ("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 a 100% interest in ICS. 4.Our Insurance segment is comprised of Continental Insurance Group Ltd. ("CIG") and its wholly-owned subsidiary Continental General Insurance Company ("CGI"). CGI provides long-term care, life, annuity, and other accident and health 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 a 100% interest in CIG. 5.Our Life Sciences segment is comprised of Pansend Life Sciences, LLC ("Pansend"). Pansend maintains controlling interests of approximately 80% in Genovel Orthopedics, Inc. ("Genovel"), which seeks to develop products to treat early osteoarthritis of the knee and approximately 56% in R2 Technologies, Inc. ("R2"), which develops aesthetic and medical technologies for the skin. Pansend also invests in other early stage or developmental stage healthcare companies including an approximately 47% interest in MediBeacon Inc., and an investment in Triple Ring Technologies, Inc. 6.Our Broadcasting segment is comprised of HC2 Broadcasting Holdings Inc. ("HC2 Broadcasting") and its subsidiaries. HC2 Broadcasting strategically acquires and operates over-the-air broadcasting stations across the United States. In addition, HC2 Broadcasting, through its wholly-owned subsidiary, HC2 Network Inc. ("Network"), operates Azteca America, a Spanish-language broadcast network offering high quality Hispanic content to a diverse demographic across the United States. The Company maintains an approximately 98% controlling interest in HC2 Broadcasting and an approximately 50% controlling interest in DTV America Corporation ("DTV") as well as approximately 10% proxy and voting rights from minority holders. 7.Our Other segment represents all other businesses or investments that do not meet the definition of a segment individually or in the aggregate. Included in the Other segment is the former Marine Services segment, which includes its holding company, Global Marine Holdings, LLC ("GMH"), in which the Company maintains approximately 73% controlling interest. GMH results include the current and prior year equity investment in Huawei Marine Networks Co., Limited (“HMN”), its 19% equity method investment with Huawei Technologies Co., Ltd., and the discontinued operations of Global Marine Systems Limited ("GMSL").

Equity - Narrative (Details) - USD ($)			3 Months Ended	6 Months Ended
Equity - Narrative (Details) - USD ($)	Jan. 11, 2019	Aug. 02, 2016	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Class of Warrant or Right [Line Items]
Issuance of common stock			$ 0
Additional share consideration valued at			$ 400,000	$ 400,000
Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Shares issued (in shares)			6,375	6,375	6,375
CGI \| Common Stock
Class of Warrant or Right [Line Items]
Conversion of stock, number of shares (in shares)	1,426,534
CGI \| Series A-2 Preferred Stock
Class of Warrant or Right [Line Items]
Issuance and sale of common stock (in shares)	10,000
Issuance of common stock	$ 8,300,000
Stock issued during period, stock dividend value	$ 1,700,000
Corrib Master Fund, Ltd. \| Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Conversion of stock, number of shares (in shares)				17,933
Issuance and sale of common stock (in shares)		1,000
Luxor Capital Partners, LP \| Series A shares issued and outstanding
Class of Warrant or Right [Line Items]
Conversion of stock, number of shares (in shares)				159,400
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
Corrib Master Fund, Ltd. and Luxor Capital Partners, LP
Class of Warrant or Right [Line Items]
Percent of accrued value				1.875%

Discontinued Operations

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. Discontinued Operations

The sale of GMSL closed on February 28, 2020. As a result of the sale, the results of GMSL and transaction related expenses directly attributable to the sale were reported as discontinued operations. Summarized operating results of the discontinued operations are as follows (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue	$	—	$	39.4	$	17.3	$	81.8
Cost of revenue	—		30.6		18.2		63.8
Selling, general and administrative	—		5.9		13.7		11.9
Depreciation and amortization	—		6.4		3.8		13.0
Other operating expenses	—		(0.8)		—		(0.2)
Loss from operations	—		(2.7)		(18.4)		(6.7)
Interest expense	—		(3.9)		(3.6)		(7.4)
Loss on sale of subsidiary	—		—		(39.3)		—
(Loss) income from equity investees	—		(1.1)		0.5		(0.1)
Other income	—		0.1		0.9		—
Pre-tax loss from discontinued operations	—		(7.6)		(59.9)		(14.2)
Income tax benefit (expense)	—		(0.1)		(0.1)		(0.1)
Loss from discontinued operations	$	—	$	(7.7)	$	(60.0)	$	(14.3)

The Company recorded a $39.3 million loss on the sale, inclusive of recognizing a $31.3 million loss from the realization of AOCI.

The net proceeds from the sale of GMSL were used to repay HC2’s $15.0 million under the 2019 Revolving Credit Agreement (as defined below) and redeem $76.9 million aggregate principal amount of Senior Secured Notes, plus accrued and unpaid interest since December 1, 2019 (the last regularly scheduled interest payment date).

As a result of the repayment of $15.0 million 2019 Revolving Credit Agreement, the Company allocated the following interest and the amortization of deferred financing costs for the three and six months ended June 30, 2020 and 2019 associated with the principal prepayment from continuing operations to discontinued operations on the Company’s Condensed Consolidated Statement of Operations:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Interest expense	$	—	$	0.2	$	0.2	$	0.2
Amortization of deferred financing costs and original issuance discount	$	—	$	0.1	$	0.1	$	0.1

As a result of the mandatory redemption of $76.9 million on the Senior Secured Notes, the Company allocated the following pro-rata interest and amortization of deferred financing costs and original issuance discount for the three and six months ended June 30, 2020 and 2019, from continuing operations to discontinued operations on the Company’s Condensed Consolidated Statements of Operations:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Interest expense	$	—	$	2.2	$	2.2	$	4.4
Amortization of deferred financing costs and original issuance discount	$	—	$	0.3	$	0.2	$	0.5

Summarized assets and liabilities of the discontinued operations are as follows (in millions):


	December 31,
	2019
Assets
Other invested assets	$	16.9
Cash and cash equivalents	10.2
Accounts receivable, net	26.0

Property, plant and equipment, net	182.1
Goodwill	14.3
Intangibles, net	5.3
Other assets	68.5
Total assets held for sale	$	323.3

Liabilities
Accounts payable and other current liabilities	$	33.4

Debt obligations	65.6
Pension Liability	18.8
Other liabilities	36.1
Total liabilities held for sale	$	153.9

For further details related to the sale of GMSL, see note 5. Acquisitions, Dispositions, and Deconsolidations.

Revenue - Construction Segment Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 299.4	$ 400.5	$ 682.8	$ 763.0
Net revenue	377.0	479.2	821.8	928.2
Construction
Disaggregation of Revenue [Line Items]
Revenue	171.7	195.5	348.2	387.6
Other revenue	0.6	0.2	0.6	0.2
Net revenue	172.3	195.7	348.8	387.8
Construction \| Commercial
Disaggregation of Revenue [Line Items]
Revenue	54.0	52.9	116.8	112.3
Construction \| Convention
Disaggregation of Revenue [Line Items]
Revenue	1.4	28.4	3.8	57.1
Construction \| Healthcare
Disaggregation of Revenue [Line Items]
Revenue	4.7	13.6	12.6	22.4
Construction \| Industrial
Disaggregation of Revenue [Line Items]
Revenue	59.6	62.7	118.4	116.5
Construction \| Transportation
Disaggregation of Revenue [Line Items]
Revenue	23.5	16.3	39.9	34.4
Construction \| Leisure
Disaggregation of Revenue [Line Items]
Revenue	11.3	11.5	27.3	26.3
Construction \| Other
Disaggregation of Revenue [Line Items]
Revenue	$ 17.2	$ 10.1	$ 29.4	$ 18.6

Goodwill and Intangibles, net - Estimated Amortization Expense (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 4.1
2021	7.8
2022	7.6
2023	7.5
2024	7.0
Thereafter	45.2
Net	$ 79.2	$ 83.0

Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of Stock by Class

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


	June 30,	December 31,
	2020	2019
Preferred shares authorized, $0.001 par value	20,000,000	20,000,000
Series A shares issued and outstanding	6,375	6,375

Series A-2 shares issued and outstanding	4,000	4,000

Summary of Cash, PIK and Special Cash Dividends

2020


Declaration Date	March 31, 2020		June 30, 2020
Holders of Record Date	March 31, 2020		June 30, 2020
Payment Date	April 15, 2020		July 15, 2020
Total Dividend	$	0.2	$	0.2

2019

Declaration Date

March 31, 2019

June 30, 2019

Holders of Record Date

March 31, 2019

June 30, 2019

Payment Date

April 15, 2019

July 15, 2019

Total Dividend

0.2

- 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

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+ Details

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	22. Subsequent Events On August 2, 2020, the Company issued a notice of termination, effectively ending the Services Agreement with HCP, a former related party. On August 6, 2020 the Construction segment paid a cash dividend of $5.0 million, or $1.30 per share. HC2 received approximately $4.5 million of the total dividend payout. On August 6, 2020 the Energy segment entered into a new credit facility M&T bank. Proceeds from the loan and cash on hand were used to pay down the existing credit facilities with M&T and Pioneer as well as redeem its outstanding $14.0 million preferred stock, which carried a 14% interest rate. The new credit facility is comprised of a $57.0 million term loan facility, a $2.5 million revolving line of credit and an $8.0 million delayed draw term loan ear-marked for new station build, as well as a $10.0 million accordion feature. On August 10, 2020 the Company and MSD PCOF Partners IX, LLC agreed to extend maturity of the 2020 Revolving Credit Agreement to September 1, 2021.

Share-based Compensation - Summary of Company's Stock Option Activity (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Shares
Outstanding at beginning of period (in shares)			7,067,592
Granted (in shares)	0	0	0	0
Exercised (in shares)			0
Forfeited (in shares)			(142,503)
Expired (in shares)			(51,745)
Outstanding at end of period (in shares)	6,873,344		6,873,344
Eligible for exercise (in shares)	6,833,839		6,833,839
Weighted Average Exercise Price
Outstanding at beginning of period (in usd per share)			$ 6.52
Granted (in usd per share)			0
Exercised (in usd per share)			0
Forfeited (in usd per share)			5.45
Expired (in usd per share)			5.48
Outstanding at end of period (in usd per share)	$ 6.55		6.55
Eligible for exercise (in usd per share)	$ 6.56		$ 6.56

Revenue - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 299.4	$ 400.5	$ 682.8	$ 763.0
Construction
Segment Reporting Information [Line Items]
Revenue	171.7	195.5	348.2	387.6
Energy
Segment Reporting Information [Line Items]
Revenue	8.3	5.3	17.0	10.1
Telecommunications
Segment Reporting Information [Line Items]
Revenue	107.3	189.3	293.7	344.8
Broadcasting
Segment Reporting Information [Line Items]
Revenue	9.5	10.0	19.6	19.8
Operating Segments
Segment Reporting Information [Line Items]
Revenue	299.4	400.5
Operating Segments \| Construction
Segment Reporting Information [Line Items]
Revenue	172.3	195.7	348.8	387.8
Operating Segments \| Energy
Segment Reporting Information [Line Items]
Revenue	10.3	5.5	20.7	10.6
Operating Segments \| Telecommunications
Segment Reporting Information [Line Items]
Revenue	107.3	189.3	293.7	344.8
Operating Segments \| Broadcasting
Segment Reporting Information [Line Items]
Revenue	$ 9.5	$ 10.0	$ 19.6	$ 19.8

- Definition

+ References

+ Details

Related Parties

6 Months Ended

Jun. 30, 2020

Related Parties

19. Related Parties

HC2

In January 2015, the Company entered into a services agreement (the "Services Agreement") with Harbinger Capital Partners ("HCP"), 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 expenses of $0.8 million and $0.9 million, and income of $0.1 million and zero for the three months ended June 30, 2020 and 2019, respectively. The Company recognized expenses of $1.5 million and $1.9 million and income of $0.1 million and $0.1 million for the six months ended June 30, 2020 and 2019, respectively.


	Three Months Ended June 30,
	2020										2019
	Corporate		Other ⁽¹⁾		Total		Corporate		Other ⁽¹⁾		Total
Allocated to HC2 by HCP
Office space	$	0.5	$	0.3	$	0.8	$	0.5	$	0.4	$	0.9
Administrative salaries and benefits	—		—		—		—		—		—
Other shared overhead	—		—		—		—		—		—
Total Expenses	0.5		0.3		0.8		0.5		0.4		0.9

Charged back to HCP by HC2
Administrative salaries and benefits	—		—		—		—		—		—
Other shared overhead	0.1		—		0.1		—		—		—
Total Income	0.1		—		0.1		—		—		—

Net related party activity	$	0.4	$	0.3	$	0.7	$	0.5	$	0.4	$	0.9


	Six Months Ended June 30,
	2020										2019
	Corporate		Other ⁽¹⁾		Total		Corporate		Other ⁽¹⁾		Total
Allocated to HC2 by HCP
Office space	$	1.0	$	0.5	$	1.5	$	1.2	$	0.6	$	1.8
Administrative salaries and benefits	—		—		—		0.1		—		0.1
Other shared overhead	—		—		—		—		—		—
Total Expenses	1.0		0.5		1.5		1.3		0.6		1.9

Charged back to HCP by HC2
Administrative salaries and benefits	—		—		—		—		—		—
Other shared overhead	0.1		—		0.1		0.1		—		0.1
Total Income	0.1		—		0.1		0.1		—		0.1

Net related party activity	$	0.9	$	0.5	$	1.4	$	1.2	$	0.6	$	1.8

⁽¹⁾ Other in the above table represent certain entities within our Broadcasting, Life Sciences and Insurance segments.

With the announcement of the departure of Phillip Falcone, the former CEO and Chairman of the Company, on June 11, 2020, HCP will no longer be considered a related party. On August 2, 2020, the Company issued a notice of termination, effectively ending the Services Agreement with HCP, a former related party.

Other

GMH's subsidiary GMSL, prior to its sale in February 2020, had transactions with several of its equity method investees. A summary of transactions with such equity method investees and balances outstanding are as follows (in millions). Such activity is reclassified to discontinued operations as a result of the sale of GMSL. See note 3. Discontinued Operations for further information:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue	$	—	$	1.0	$	0.7	$	3.0
Operating expenses	$	—	$	0.1	$	—	$	0.7
Interest expense	$	—	$	0.3	$	0.1	$	0.5


	June 30,		December 31,
	2020		2019
Accounts receivable	$	—	$	1.2
Debt obligations	$	—	$	22.5
Accounts payable	$	—	$	0.1
Dividends	$	—	$	4.5

Life Sciences

Pansend has an investment in Triple Ring Technologies, Inc. ("Triple Ring"). Various subsidiaries of HC2 utilize the services of Triple Ring, incurring $0.3 million and $0.7 million in services for the three months ended June 30, 2020 and 2019, and $1.0 million and $0.8 million in services for the six months ended June 30, 2020 and 2019.

Debt Obligations - Schedule of Debt (Details) - USD ($) $ in Millions		1 Months Ended	6 Months Ended
	Aug. 06, 2020	Mar. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total lease liability balance			$ 1.2	$ 1.7
Total aggregate finance lease and debt payments			654.6	805.0
Issuance discount, net and deferred financing costs			(20.8)	(31.4)
Total debt obligations			633.8	773.6
Subsequent Event
Debt Instrument [Line Items]
Payments for preferred stock	$ 14.0
11.50% Senior Secured Notes, due 2021
Debt Instrument [Line Items]
Outstanding debt		$ 76.9	$ 50.6
Interest rate (as a percent)		11.50%
LIBOR \| DBM Global Credit Facilities \| LIBOR plus 5.85% Note, due 2023
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			5.85%
LIBOR \| DBM Global Credit Facilities \| LIBOR plus 1.50% Line of Credit \| Real Estate Term Advance \| Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			150.00%
Construction \| LIBOR \| LIBOR plus 5.85% Note, due 2023 \| Real Estate Term Advance
Debt Instrument [Line Items]
Outstanding debt			$ 74.6	77.0
Construction \| LIBOR \| LIBOR plus 1.50% Line of Credit \| Real Estate Term Advance
Debt Instrument [Line Items]
Outstanding debt			30.9	48.9
Construction \| LIBOR \| Obligations under finance leases \| Real Estate Term Advance
Debt Instrument [Line Items]
Outstanding debt			0.2	0.2
Energy \| Obligations under finance leases
Debt Instrument [Line Items]
Other, various maturity dates			2.4	2.4
Energy \| LIBOR plus 3.0% Term Loan due in 2023 (1)
Debt Instrument [Line Items]
Outstanding debt			25.8	27.1
Energy \| 5.00% Term Loan due in 2022(1)
Debt Instrument [Line Items]
Outstanding debt			$ 10.6	11.2
Interest rate (as a percent)			5.00%
Energy \| 4.50% Note due in 2022 (1)
Debt Instrument [Line Items]
Outstanding debt			$ 9.6	10.2
Interest rate (as a percent)			4.50%
Energy \| Term Loan \| Subsequent Event
Debt Instrument [Line Items]
Outstanding debt	$ 57.0
Interest rate (as a percent)	14.00%
Accordion, additional borrowing capacity	$ 10.0
Energy \| Revolving Credit Facility \| Subsequent Event
Debt Instrument [Line Items]
Outstanding debt	2.5
Energy \| Term Loan Delayed Draw [Member] \| Subsequent Event
Debt Instrument [Line Items]
Outstanding debt	$ 8.0
Energy \| LIBOR \| American Natural Gas [Member] \| LIBOR plus 3.0% Term Loan due in 2023 (1)
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)			3.00%
Broadcasting
Debt Instrument [Line Items]
Total lease liability balance			$ 1.0	1.4
Broadcasting \| 8.50% Note due 2020
Debt Instrument [Line Items]
Outstanding debt			39.3	36.2
Broadcasting \| 10.50% Note due 2020
Debt Instrument [Line Items]
Outstanding debt			$ 42.5	42.5
Interest rate (as a percent)			10.50%
Broadcasting \| Other, various maturity dates
Debt Instrument [Line Items]
Outstanding debt			$ 5.3	7.9
Broadcasting \| Senior Notes Due October 2019, 8.5%
Debt Instrument [Line Items]
Interest rate (as a percent)			8.50%
Non-Operating Corporate \| 11.50% Senior Secured Notes, due 2021
Debt Instrument [Line Items]
Outstanding debt			$ 342.4	470.0
Interest rate (as a percent)			11.50%
Non-Operating Corporate \| 7.50% Convertible Senior Notes, due 2022
Debt Instrument [Line Items]
Outstanding debt			$ 55.0	55.0
Interest rate (as a percent)			7.50%
Non-Operating Corporate \| LIBOR plus 6.75% Line of Credit
Debt Instrument [Line Items]
Outstanding debt			$ 15.0	$ 15.0
Basis spread on variable rate (as a percent)		6.75%	6.75%

Consolidated Statement of Stockholders' Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Treasury Stock	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)	Total HC2 Stockholders' Equity	Total HC2 Stockholders' Equity Cumulative Effect, Period of Adoption, Adjustment	Non- controlling Interest	Non- controlling Interest Cumulative Effect, Period of Adoption, Adjustment	Temporary Equity	Temporary Equity Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Dec. 31, 2018			44,900,000
Beginning balance at Dec. 31, 2018	$ 193.7	$ (5.0)		$ 260.5	$ (2.6)	$ (57.2)	$ (4.3)	$ (112.6)	$ 88.1	$ (4.3)	$ 105.6	$ (0.7)	$ 28.3	$ (0.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	4.7			4.7					4.7
Fair value adjustment of redeemable noncontrolling interest	0.2			0.2					0.2				(0.2)
Taxes paid in lieu of shares issued for share-based compensation (in shares)			(200,000)
Taxes paid in lieu of shares issued for share-based compensation	(0.6)				(0.6)				(0.6)
Preferred stock dividend	(0.5)			(0.5)					(0.5)
Issuance of common stock (in shares)			1,100,000
Purchase of preferred stock by subsidiary	1.7			1.7					1.7				(10.0)
Transactions with noncontrolling interests	3.8			4.7				0.0	4.7		(0.9)		3.1
Other	(0.4)			(0.4)					(0.4)
Net Income (loss)	3.4					6.6			6.6		(3.2)
Net income (loss)	2.9												(0.5)
Foreign currency translation adjustment	0.2
Unrealized gains (losses) on available-for-sale securities	229.6
Dispositions	0.0
Other comprehensive income (loss)	229.8							229.7	229.7		0.1
Ending balance (in shares) at Jun. 30, 2019			45,800,000
Ending balance at Jun. 30, 2019	430.8			270.9	(3.2)	(54.9)		117.1	329.9		100.9		20.6
Beginning balance (in shares) at Mar. 31, 2019			45,600,000
Beginning balance at Mar. 31, 2019	332.2			264.4	(3.2)	(64.3)		36.2	233.1		99.1		17.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2.2			2.2					2.2
Preferred stock dividend	(0.2)			(0.2)					(0.2)
Issuance of common stock (in shares)			200,000
Transactions with noncontrolling interests	7.3			5.2					5.2		2.1		3.1
Other	(0.7)			(0.7)					(0.7)
Net Income (loss)	9.3					9.4			9.4		(0.1)
Net income (loss)	9.2												(0.1)
Foreign currency translation adjustment	(0.7)
Unrealized gains (losses) on available-for-sale securities	81.4
Dispositions	0.0
Other comprehensive income (loss)	80.7							80.9	80.9		(0.2)
Ending balance (in shares) at Jun. 30, 2019			45,800,000
Ending balance at Jun. 30, 2019	$ 430.8			270.9	(3.2)	(54.9)		117.1	$ 329.9		100.9		20.6
Beginning balance (in shares) at Dec. 31, 2019	443,600,000		46,100,000						349,800,000
Beginning balance at Dec. 31, 2019	$ 443.6		$ 0.0	281.1	(3.3)	(96.7)		168.7			93.8		21.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	2.9			2.9					$ 2.9
Fair value adjustment of redeemable noncontrolling interest	$ (1.2)			(1.2)					(1.2)				1.2
Exercise of stock options (in shares)	0
Taxes paid in lieu of shares issued for share-based compensation (in shares)	(400,000)
Taxes paid in lieu of shares issued for share-based compensation	$ (0.9)				(0.9)				(0.9)
Preferred stock dividend	(0.4)			(0.4)					(0.4)
Issuance of common stock (in shares)			900,000
Transactions with noncontrolling interests	(49.2)			6.1					6.1		(55.3)		(4.0)
Net Income (loss)	(71.0)					(70.0)			(70.0)		(1.0)
Net income (loss)	(72.5)												(1.5)
Foreign currency translation adjustment	4.0
Unrealized gains (losses) on available-for-sale securities	7.8
Dispositions	22.1
Other comprehensive income (loss)	41.4							33.0	33.0		8.4		1.4
Ending balance (in shares) at Jun. 30, 2020			46,600,000
Ending balance at Jun. 30, 2020	365.2			288.5	(4.2)	(166.7)		201.7	319.3		45.9		18.7
Beginning balance (in shares) at Mar. 31, 2020			46,500,000
Beginning balance at Mar. 31, 2020	60.5		$ 0.0	282.7	(4.2)	(179.8)		(84.6)	14.1		46.4		18.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation	0.3			0.3					0.3
Fair value adjustment of redeemable noncontrolling interest	2.9			2.9					2.9				(2.9)
Preferred stock dividend	(0.2)			(0.2)					(0.2)
Issuance of common stock (in shares)			100,000
Issuance of common stock	0.0
Transactions with noncontrolling interests	(12.4)			2.8					2.8		(15.2)		1.5
Net Income (loss)	27.1					13.1			13.1		14.0
Net income (loss)	28.5												1.4
Foreign currency translation adjustment	3.8
Unrealized gains (losses) on available-for-sale securities	283.8
Dispositions	(0.7)
Other comprehensive income (loss)	287.0							286.3	286.3		0.7		0.1
Ending balance (in shares) at Jun. 30, 2020			46,600,000
Ending balance at Jun. 30, 2020	$ 365.2			$ 288.5	$ (4.2)	$ (166.7)		$ 201.7	$ 319.3		$ 45.9		$ 18.7

Life, Accident and Health Reserves (Tables)

6 Months Ended

Jun. 30, 2020

Insurance [Abstract]

Schedule of Life, Accident and Health Reserves

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


	June 30,		December 31,
	2020		2019
Long-term care insurance reserves	$	4,250.6	$	4,201.6
Traditional life insurance reserves	168.3		173.4
Other accident and health insurance reserves	189.9		192.1
Total life, accident and health reserves	$	4,608.8	$	4,567.1

The following table sets forth changes in the liability for claims for the portion of our long-term care insurance reserves (in millions):


	Six Months Ended June 30,
	2020		2019
Beginning balance	$	761.3	$	738.7
Less: recoverable from reinsurers	(131.0)		(136.4)
Beginning balance, net	630.3		602.3




Incurred related to insured events of:
Current year	112.2		108.8
Prior years	(11.3)		(41.2)
Total incurred	100.9		67.6
Paid related to insured events of:
Current year	(3.8)		(2.9)
Prior years	(82.4)		(74.1)
Total paid	(86.2)		(77.0)
Interest on liability for policy and contract claims	11.3		10.7
Ending balance, net	656.3		603.6
Add: recoverable from reinsurers	139.5		137.4
Ending balance	$	795.8	$	741.0

Related Parties - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
Related Parties - Narrative (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Net revenue	$ 0	$ 1,000,000.0	$ 700,000	$ 3,000,000.0
Affiliated Entity \| Harbinger Capital Partners
Related Party Transaction [Line Items]
Expenses under service agreement	800,000	900,000	1,500,000	1,900,000
Net revenue	100,000	0	100,000	100,000
Affiliated Entity \| Triple Ring
Related Party Transaction [Line Items]
Expenses under service agreement	$ 300,000	$ 700,000	$ 1,000,000.0	$ 800,000

Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net revenue	$	—	$	39.4	$	17.3	$	81.8
Cost of revenue	—		30.6		18.2		63.8
Selling, general and administrative	—		5.9		13.7		11.9
Depreciation and amortization	—		6.4		3.8		13.0
Other operating expenses	—		(0.8)		—		(0.2)
Loss from operations	—		(2.7)		(18.4)		(6.7)
Interest expense	—		(3.9)		(3.6)		(7.4)
Loss on sale of subsidiary	—		—		(39.3)		—
(Loss) income from equity investees	—		(1.1)		0.5		(0.1)
Other income	—		0.1		0.9		—
Pre-tax loss from discontinued operations	—		(7.6)		(59.9)		(14.2)
Income tax benefit (expense)	—		(0.1)		(0.1)		(0.1)
Loss from discontinued operations	$	—	$	(7.7)	$	(60.0)	$	(14.3)


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Interest expense	$	—	$	0.2	$	0.2	$	0.2
Amortization of deferred financing costs and original issuance discount	$	—	$	0.1	$	0.1	$	0.1


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Interest expense	$	—	$	2.2	$	2.2	$	4.4
Amortization of deferred financing costs and original issuance discount	$	—	$	0.3	$	0.2	$	0.5

Summarized assets and liabilities of the discontinued operations are as follows (in millions):


	December 31,
	2019
Assets
Other invested assets	$	16.9
Cash and cash equivalents	10.2
Accounts receivable, net	26.0

Property, plant and equipment, net	182.1
Goodwill	14.3
Intangibles, net	5.3
Other assets	68.5
Total assets held for sale	$	323.3

Liabilities
Accounts payable and other current liabilities	$	33.4

Debt obligations	65.6
Pension Liability	18.8
Other liabilities	36.1
Total liabilities held for sale	$	153.9

For further details related to the sale of GMSL, see note 5. Acquisitions, Dispositions, and Deconsolidations.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Share-based Compensation - Summary of Company's Restricted Stock Activity (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2020 $ / shares shares
Shares
Unvested at beginning of period (in shares) \| shares	2,213,775
Granted (in shares) \| shares	0
Vested (in shares) \| shares	(1,174,170)
Forfeited (in shares) \| shares	(450,967)
Unvested at end of period (in shares) \| shares	588,638
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in usd per share) \| $ / shares	$ 5.12
Granted (in usd per share) \| $ / shares	0
Vested (in usd per share) \| $ / shares	5.05
Forfeited (in usd per share) \| $ / shares	6.07
Unvested at end of period (in usd per share) \| $ / shares	$ 4.55

Recoverable from Reinsurers (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Ceded Credit Risk [Line Items]
Amount	$ 958.4	$ 953.7
Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	100.00%	100.00%
Munich American Reassurance Company \| A+
Ceded Credit Risk [Line Items]
Amount	$ 359.0	$ 347.6
Munich American Reassurance Company \| A+ \| Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	37.40%	36.40%
Hannover Life Reassurance Company of America \| A+
Ceded Credit Risk [Line Items]
Amount	$ 318.9	$ 323.3
Hannover Life Reassurance Company of America \| A+ \| Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	33.30%	33.90%
Loyal American Life Insurance Company \| A
Ceded Credit Risk [Line Items]
Amount	$ 146.5	$ 147.5
Loyal American Life Insurance Company \| A \| Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	15.30%	15.50%
Great American Life Insurance Company \| A
Ceded Credit Risk [Line Items]
Amount	$ 56.5	$ 56.2
Great American Life Insurance Company \| A \| Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	5.90%	5.90%
ManhattanLife Assurance Company of America \| B+
Ceded Credit Risk [Line Items]
Amount	$ 47.0	$ 47.0
ManhattanLife Assurance Company of America \| B+ \| Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	4.90%	4.90%
Other
Ceded Credit Risk [Line Items]
Amount	$ 30.5	$ 32.1
Other \| Percentage of Total, Reinsurance recoverable \| Reinsurer Concentration Risk
Ceded Credit Risk [Line Items]
Percentage of total	3.20%	3.40%

Debt Obligations (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule Of Debt And Capital Lease Obligations

Debt obligations consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Construction
LIBOR plus 5.85% Note, due 2023	$	74.6	$	77.0
LIBOR plus 1.50% Line of Credit	30.9		48.9
Obligations under finance leases	0.2		0.2
Energy
LIBOR plus 3.0% Term Loan due in 2023⁽¹⁾	25.8		27.1
5.00% Term Loan due in 2022⁽¹⁾	10.6		11.2
4.50% Note due in 2022⁽¹⁾	9.6		10.2
Other, various maturity dates	2.4		2.4
Broadcasting

8.50% Note due 2020	39.3		36.2
10.50% Note due 2020	42.5		42.5
Other, various maturity dates	5.3		7.9
Obligations under finance leases	1.0		1.4
Non-Operating Corporate
11.50% Senior Secured Notes, due 2021	342.4		470.0
7.50% Convertible Senior Notes, due 2022	55.0		55.0
LIBOR plus 6.75% Line of Credit	15.0		15.0
Total	654.6		805.0
Issuance discount, net and deferred financing costs	(20.8)		(31.4)
Total debt obligations	$	633.8	$	773.6

Schedule Of Maturities Of Debt And Capital Lease Obligations

Aggregate finance lease and debt payments, including interest, are as follows (in millions):


	Finance Leases		Debt		Total
2020	$	1.1	$	140.4	$	141.5
2021	0.2		418.6		418.8
2022	—		76.5		76.5
2023	—		94.3		94.3
2024	—		11.3		11.3
Thereafter	—		6.5		6.5
Total minimum principal & interest payments	1.3		747.6		748.9
Less: Amount representing interest	(0.1)		(94.2)		(94.3)
Total aggregate finance lease and debt payments	$	1.2	$	653.4	$	654.6

Investments - Net Realized Gain (Loss) on Investments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Realized gains on fixed maturity securities	$ 8.4	$ 4.2	$ 12.0	$ 5.1
Realized losses on fixed maturity securities	(12.4)	(3.3)	(13.1)	(5.1)
Realized gains on equity securities	0.2	0.3	0.2	0.4
Realized losses on equity securities	(0.1)	(0.2)	(0.1)	(1.1)
Realized gains on mortgage loans	0.1	0.0	0.2	0.0
Net unrealized gains (losses) on equity securities	3.0	(1.6)	(18.5)	5.8
Net unrealized gains (losses) on derivative instruments	0.4	(0.9)	0.6	(1.1)
Impairment loss	(0.1)	0.0	(0.9)	0.0
Net realized and unrealized gains (losses)	$ (0.5)	$ (1.5)	$ (19.6)	$ 4.0

Accounts Payable and Other Current Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Accounts payable	$ 114.9	$ 134.6
Accrued expenses and other current liabilities	65.3	75.2
Accrued interconnection costs	35.7	43.5
Accrued payroll and employee benefits	40.7	39.6
Accrued interest	13.6	11.3
Accrued income taxes	12.8	2.0
Total accounts payable and other current liabilities	$ 283.0	$ 306.2

Revenue - Telecommunications Segment Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 299.4	$ 400.5	$ 682.8	$ 763.0
Net revenue	377.0	479.2	821.8	928.2
Telecommunications
Disaggregation of Revenue [Line Items]
Revenue	107.3	189.3	293.7	344.8
Other revenue	0.0	0.0	0.0	0.0
Net revenue	107.3	189.3	293.7	344.8
Telecommunications \| Termination of long distance minutes
Disaggregation of Revenue [Line Items]
Revenue	$ 107.3	$ 189.3	$ 293.7	$ 344.8

Debt Obligations - Schedule of Aggregate Debt Maturities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Finance Leases
2020	$ 1.1	$ 1.0
2021	0.2	0.7
2022	0.0	0.1
2023	0.0	0.0
2024	0.0	0.0
Thereafter	0.0	0.0
Total future lease payments	1.3	1.8
Finance Lease, Liability, Undiscounted Excess Amount	(0.1)	(0.1)
Total lease liability balance	1.2	1.7
Debt
2020	140.4
2021	418.6
2022	76.5
2023	94.3
2024	11.3
Thereafter	6.5
Total minimum principal & interest payments	747.6
Less: Amount representing interest	(94.2)
Total aggregate finance lease and debt payments	653.4
Total
2020	141.5
2021	418.8
2022	76.5
2023	94.3
2024	11.3
Thereafter	6.5
Total minimum principal & interest payments	748.9
Less: Amount representing interest	(94.3)
Total aggregate finance lease and debt payments	$ 654.6	$ 805.0

Accounts Receivable, net (Tables)

6 Months Ended

Jun. 30, 2020

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivables, net from contracts with customers consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Accounts receivables with customers
Construction	$	176.1	$	199.2

Energy	12.1		31.1
Telecommunications	43.9		51.9
Broadcasting	7.1		8.5
Total accounts receivables with customers	$	239.2	$	290.7

Accounts receivable, net consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Contracts in progress	$	125.3	$	177.8
Trade receivables	51.7		60.6
Unbilled retentions	63.9		53.9
Other receivables	21.8		21.0
Allowance for doubtful accounts	(1.5)		(1.5)
Total accounts receivable, net	$	261.2	$	311.8

Summary of Significant Accounting Policies - Schedule of Other Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Accounting Policies [Abstract]
Gain (loss) on embedded derivatives	$ (8.1)	$ 3.2	$ (5.7)	$ 5.6
Gain on sale of equity method investments	71.1	0.0	71.1	0.0
Other income (expense), net	1.0	(8.0)	1.4	(7.0)
Total	$ 64.0	$ (4.8)	$ 66.8	$ (1.4)

Revenue - Narrative (Details) - Construction $ in Millions	Jun. 30, 2020 USD ($)
Revenue from External Customer [Line Items]
Change in contract assets costs in excess of billings, new commercial contracts	$ 19.5
Change in contract assets costs in excess of billings, transfer to receivables	12.4
Change in contract liabilities costs in excess of billings, new commercial contracts	53.6
Change in contract liabilities costs in excess of billings, transfer to receivables	36.1
Remaining commitment obligations, amount	$ 15.3

Related Parties - Components Of Service Agreement's Net Expenses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Revenue from related parties	$ 0.0	$ 1.0	$ 0.7	$ 3.0
Harbinger Capital Partners \| Affiliated Entity
Related Party Transaction [Line Items]
Expenses under service agreement	0.8	0.9	1.5	1.9
Revenue from related parties	0.1	0.0	0.1	0.1
Net related party activity	0.7	0.9	1.4	1.8
Harbinger Capital Partners \| Affiliated Entity \| Corporate
Related Party Transaction [Line Items]
Expenses under service agreement	0.5	0.5	1.0	1.3
Revenue from related parties	0.1	0.0	0.1	0.1
Net related party activity	0.4	0.5	0.9	1.2
Harbinger Capital Partners \| Affiliated Entity \| Operating Segments
Related Party Transaction [Line Items]
Expenses under service agreement	0.3	0.4	0.5	0.6
Revenue from related parties	0.0	0.0	0.0	0.0
Net related party activity	0.3	0.4	0.5	0.6
Harbinger Capital Partners \| Office space \| Affiliated Entity
Related Party Transaction [Line Items]
Expenses under service agreement	0.8	0.9	1.5	1.8
Harbinger Capital Partners \| Office space \| Affiliated Entity \| Corporate
Related Party Transaction [Line Items]
Expenses under service agreement	0.5	0.5	1.0	1.2
Harbinger Capital Partners \| Office space \| Affiliated Entity \| Operating Segments
Related Party Transaction [Line Items]
Expenses under service agreement	0.3	0.4	0.5	0.6
Harbinger Capital Partners \| Administrative salaries and benefits \| Affiliated Entity
Related Party Transaction [Line Items]
Expenses under service agreement	0.0	0.0	0.0	0.1
Revenue from related parties	0.0	0.0	0.0	0.0
Harbinger Capital Partners \| Administrative salaries and benefits \| Affiliated Entity \| Corporate
Related Party Transaction [Line Items]
Expenses under service agreement	0.0	0.0	0.0	0.1
Revenue from related parties	0.0	0.0	0.0	0.0
Harbinger Capital Partners \| Administrative salaries and benefits \| Affiliated Entity \| Operating Segments
Related Party Transaction [Line Items]
Expenses under service agreement	0.0	0.0	0.0	0.0
Revenue from related parties	0.0	0.0	0.0	0.0
Harbinger Capital Partners \| Other shared overhead \| Affiliated Entity
Related Party Transaction [Line Items]
Expenses under service agreement	0.0	0.0	0.0	0.0
Revenue from related parties	0.1	0.0	0.1	0.1
Harbinger Capital Partners \| Other shared overhead \| Affiliated Entity \| Corporate
Related Party Transaction [Line Items]
Expenses under service agreement	0.0	0.0	0.0	0.0
Revenue from related parties	0.1	0.0	0.1	0.1
Harbinger Capital Partners \| Other shared overhead \| Affiliated Entity \| Operating Segments
Related Party Transaction [Line Items]
Expenses under service agreement	0.0	0.0	0.0	0.0
Revenue from related parties	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Principles of Consolidation

The Condensed Consolidated Financial Statements include the accounts of the Company, its wholly owned subsidiaries and all other subsidiaries over which the Company exerts control. All intercompany profits, transactions and balances have been eliminated in consolidation. As of June 30, 2020, the results of DBMG, GMH, ANG, ICS, CIG, Genovel, R2, and HC2 Broadcasting 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.

Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements of the Company included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"). The financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of such information. All such adjustments are of a normal recurring nature. Certain information and note disclosures, including a description of significant accounting policies normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), have been condensed or omitted pursuant to such rules and regulations. Certain prior amounts have been reclassified or combined to conform to the current year presentation.

These interim financial statements should be read in conjunction with the Company’s annual Consolidated Financial Statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, filed with the SEC on March 16, 2020. The results of operations for the three and six months ended June 30, 2020 are not necessarily indicative of the results for any subsequent periods or the entire fiscal year ending December 31, 2020.

Use of Estimates and Assumptions

The preparation of the Company’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates and assumptions used.

Liquidity

At this time, we believe that we will be able to continue to meet our liquidity requirements and fund our fixed obligations (such as debt service and operating leases) and other cash needs for our operations for at least the next twelve months through a combination of distributions from our subsidiaries and from raising of additional debt or equity, refinancing of certain of our indebtedness or preferred stock, other financing arrangements and/or the sale of assets and certain investments. Historically, we have chosen to reinvest cash and receivables into the growth of our various businesses, and therefore have not kept a large amount of cash on hand at the holding company level, a practice which we expect to continue in the future. The ability of HC2’s subsidiaries to make distributions to HC2 is subject to numerous factors, including restrictions contained in each subsidiary’s financing agreements, regulatory requirements, availability of sufficient funds at each subsidiary and the approval of such payment by each subsidiary’s board of directors, which must consider various factors, including general economic and business conditions, tax considerations, strategic plans, financial results and condition, expansion plans, any contractual, legal or regulatory restrictions on the payment of dividends, and such other factors each subsidiary’s board of directors considers relevant. Our ability to sell assets and certain of our investments to meet our existing financing needs may also be limited by our existing financing instruments. Although the Company believes that it will be able to raise additional equity capital, refinance indebtedness 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 if 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.

COVID-19

There are many uncertainties regarding the current coronavirus ("COVID-19") pandemic, and the Company is closely monitoring the continued impact of the COVID-19 pandemic on all aspects of its business, including how it will impact its customers, employees, suppliers, vendors, business partners and distribution channels. We are unable to predict the impact that COVID-19 will have on its financial position and operating results due to numerous uncertainties, however if the pandemic continues it may have an adverse effect on the Company’s results of operations, financial condition, or liquidity for fiscal year 2020. The Company expects to continue to assess the evolving impact of the COVID-19 pandemic.

Other Income (Loss)

The following table provides information related to Other income (loss) (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Gain (loss) on embedded derivatives	$	(8.1)	$	3.2	$	(5.7)	$	5.6
Gain on sale of equity method investments	71.1		—		71.1		—
Other income (expense), net	1.0		(8.0)		1.4		(7.0)
Total	$	64.0	$	(4.8)	$	66.8	$	(1.4)

Statement of Cash Flows


	June 30,
	2020		2019
Cash and cash equivalents, beginning of period	$	228.8	$	315.9
Restricted cash included in other assets	1.6		5.4
Total cash and cash equivalents and restricted cash	$	230.4	$	321.3

Cash and cash equivalents, end of period	$	203.8	$	271.2
Restricted cash included in other assets	1.5		1.5
Total cash and cash equivalents and restricted cash	$	205.3	$	272.7

Supplemental cash flow information:
Cash paid for interest	$	34.1	$	32.7
Cash paid for taxes, net of (refunds)	$	7.8	$	3.6
Non-cash investing and financing activities:
Property, plant and equipment included in accounts payable	$	5.2	$	6.0
Investments included in accounts receivable	$	20.0	$	9.7
Investments included in accounts payable	$	8.6	$	31.6

Reclassification

Certain previous year amounts have been reclassified to conform with current year presentations, including:

•The reclassification of GMSL's results to discontinued operations. Further, the reclassification of prior period assets and liabilities have been classified as held for sale. See Note 3. Discontinued Operations for further information;

•As a result of the sale of GMSL, and in accordance with ASC 280, the Company no longer considers the results of operations and Balance Sheets of GMH and its subsidiaries as a separate segment. Formerly the Marine Services segment, these entities and the investment in HMN have been reclassified to the Other segment. See Note 20. Operating Segment and Related Information for further information; and

•The restatement of prior year Earnings per share as a result of the discontinued operations noted above. This includes presenting EPS for Net (loss) income from continuing operations, Net (loss) income from discontinuing operations, and Net (loss) income. See Note 21. Basic and Diluted Income Per Common Share for further details.

Accounting Pronouncements Adopted in the Current Year

The Company has implemented all new accounting pronouncements that are in effect and that may impact its Condensed Consolidated Financial Statements. The Company does not believe that there are any new accounting pronouncements issued since the filing of its 2019 Form 10-K that will have a material impact on its financial condition, results of operations or liquidity.

Accounting Pronouncements to be Adopted Subsequent to December 31, 2020

Credit Loss Standard

ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, was issued by FASB in June 2016. This standard is effective January 1, 2020 (with early adoption permitted), and will impact, at least to some extent, the Company's accounting and disclosure requirements for it's recoverable from reinsurers, accounts receivable, and mortgage loans. The FASB has voted to delay the effective date of ASU 2016-13 to January 1, 2023 for smaller reporting companies with a revised ASU in the fourth quarter of 2019. Currently, the Company continues to focus on developing models and procedures, with testing and refinement of models occurring in 2020 and 2021 with parallel testing to be performed in 2022.

Available for sale fixed maturity securities are not in scope of the new credit loss model, but will undergo targeted improvements to the current reporting model including the establishment of a valuation allowance for credit losses versus the current direct write down approach. The Company will continue to identify any other financial assets not excluded from scope.

The Company plans to use the modified retrospective method which will include a cumulative effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. However, prospective application is required for purchased credit deteriorated assets previously accounted for under ASU 310-39 for debt securities for which an other-than-temporary impairment ("OTTI") was recognized prior to the date of adoption. The Company does not currently expect to early adopt this standard and is currently evaluating the impact of this new accounting guidance on its Condensed Consolidated Financial Statements.

Outlined below are key areas of change, although there are other changes not noted below:

•Financial assets (or a group of financial assets) measured at amortized cost will be required to be presented at the net amount expected to be collected, with an allowance for credit losses deducted from the amortized cost basis, resulting in a net carrying value that reflects the amount the entity expects to collect on the financial asset at purchase.

•Credit losses relating to available for sale fixed maturity securities will be recorded through an allowance for credit losses, rather than reductions in the amortized cost of the securities and is anticipated to increase volatility in the Company's Condensed Consolidated Statements of Operations. The allowance methodology recognizes that value may be realized either through collection of contractual cash flows or through the sale of the security. Therefore, the amount of the allowance for credit losses will be limited to the amount by which fair value is below amortized cost because the classification as available for sale is premised on an investment strategy that recognizes that the investment could be sold at fair value, if cash collection would result in the realization of an amount less than fair value.

•The Company's Condensed Consolidated Statements of Operations will reflect the measurement of expected credit losses for newly recognized financial assets as well as the expected increases or decreases (including the reversal of previously recognized losses) of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount.

•Disclosures will be required to include information around how the credit loss allowance was developed, further details on information currently disclosed about credit quality of financing receivables and net investments in leases, and a rollforward of the allowance for credit losses for available for sale fixed maturity securities as well as an aging analysis for securities that are past due.

The Company anticipates a significant impact on the systems, processes and controls. While the requirements of the new guidance represent a material change from existing GAAP, the underlying economics of items in scope and related cash flows are unchanged. Focus areas will include, but not be limited to: (i) updating procedures to reflect new guidance requiring establishment of allowance for credit losses on available for sale debt securities; (ii) establishing procedures to review reinsurance risk to include but not limited to review of reinsurer ratings, trust agreements where applicable and historical and current performance; (iii) establishing procedures to identify and review all remaining financial assets within scope; and (iv) developing, testing, and implementing controls for newly developed procedures, as well as for additional annual reporting requirements.

Long-Duration Contracts

ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, was issued by the FASB in August 2018 and is expected to have a significant impact on the Company’s Condensed Consolidated Financial Statements and Notes to the Condensed Consolidated Financial Statements. The standard is effective January 1, 2021 (with early adoption permitted), and will impact, at least to some extent, the Company's accounting and disclosure requirements for it's long-duration insurance contracts. The Company does not currently expect to early adopt this standard and is currently evaluating the impact of this new accounting guidance on its Condensed Consolidated Financial Statements.

Outlined below are key areas of change, although there are other changes not noted below:

•Cash flow assumptions must be reviewed at least annually and updated if necessary. The impact of these updates will be reported through net income. Current accounting policy requires the liability assumptions for long-duration contracts and limited payment contracts be locked in at contract inception, unless the contracts project a loss position which would allow the liability assumptions to be unlocked so that the loss could be recognized.

•The rate used to discount the liability projections is to be based on an A-rated asset with observable market inputs and duration consistent with the duration of the liabilities. The discount rate is to be updated quarterly with the impact of the change in the discount rate recognized through other comprehensive income. Current accounting policy allows the use of an expected investment yield (which is not required to be observable in the market) to discount the liability projections.

•Deferred acquisition costs for long-duration contracts are to be amortized in proportion to premiums, gross profits, or gross margins and those balances must be amortized on a constant-level basis over the expected life of the contract. Current accounting policy would amortize deferred acquisition costs based on revenue and profits. The Company does not have any deferred acquisition costs but VOBA amortization will follow this new guidance.

•Market risk benefits are to be measured at fair value and presented separately in the statement of financial position. Under current accounting policy benefit features that will meet the definition of market risk benefits are accounted for as embedded derivatives or insurance liabilities via the benefit ratio model. The Company does not have any benefit features that will be categorized as market risk benefits.

•Disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, VOBA, as well as information about significant inputs, judgments, assumptions, and methods used in measurement are required to be disclosed.

The Company anticipates that the requirement to update assumptions for liability for future policy benefits will increase volatility in the Company's Condensed Consolidated Statements of Operations while the requirement to update the discount rate will increase volatility in the Company's Condensed Consolidated Statements of Stockholders' Equity. The Company anticipates a significant impact on the systems, processes and controls. While the requirements of the new guidance represent a material change from existing GAAP, the underlying economics of the Company's Insurance segment and related cash flows are unchanged.

The FASB has voted to delay the effective date of ASU 2018-12 to January 1, 2024 for smaller reporting companies with a revised ASU in the fourth quarter of 2019. Currently, the Company plans to focus on developing models and procedures through 2021, with testing and refinement of models occurring in 2022 and parallel testing performed in 2023. The Company may choose one of two adoption methods for the liability for future policy benefits: (i) a modified retrospective transition method whereby the entity will apply the amendments to contracts inforce as of the beginning of the earliest period presented on the basis of their existing carrying amounts adjusted for the removal of any related amounts in AOCI or (ii) a full retrospective transition method. Focus areas will include, but not be limited to: (i) determining an appropriate upper-medium grade fixed income instrument yield source from the market; (ii) establishing appropriate aggregation of liabilities; (iii) establishing liability models for each contract grouping identified that may be quickly updated to reflect current inforce listing and new discount rates on a quarterly basis; (iv) establishing appropriate best estimate assumptions with no provision for adverse deviation; (v) establishing procedures for annual review of assumptions including tracking of actual experience for enhanced reporting requirements; (vi) establishing new VOBA amortization that will align with new guidance for DAC amortization; and (vii) developing, testing, and implementing controls for newly developed procedures, as well as for additional annual reporting requirements.

Subsequent Events

ASC 855, Subsequent Events requires the Company to evaluate events that occur after the balance sheet date as of which the financial statements are issued, and to determine whether adjustments to or additional disclosures in the financial statements are necessary. See Note 22. Subsequent Events for the summary of the subsequent events.

Recoverable from Reinsurers (Tables)

6 Months Ended

Jun. 30, 2020

Insurance [Abstract]

Ceded Credit Risk

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


		June 30, 2020						December 31, 2019
Reinsurer	A.M. Best Rating	Amount		% of Total		Amount		% of Total
Munich American Reassurance Company	A+	$	359.0	37.4	%	$	347.6	36.4	%
Hannover Life Reassurance Company of America	A+	318.9		33.3	%	323.3		33.9	%
Loyal American Life Insurance Company	A	146.5		15.3	%	147.5		15.5	%
Great American Life Insurance Company	A	56.5		5.9	%	56.2		5.9	%
ManhattanLife Assurance Company of America	B+	47.0		4.9	%	47.0		4.9	%
Other		30.5		3.2	%	32.1		3.4	%
Total		$	958.4	100.0	%	$	953.7	100.0	%

Acquisitions, Dispositions, and Deconsolidations - Energy Acquisitions (Details) - ampCNG	Jun. 14, 2019 USD ($) security $ / shares
Energy
Business Acquisition [Line Items]
Number of natural gas fueling stations acquired \| security	20
Consideration transferred	$ 41,200,000
Number of natural gas fueling stations \| security	60
ANG \| Term Loan
Business Acquisition [Line Items]
Face amount	$ 28,000,000.0
Duration of warrants	10 years
Preferred stock and warrants issued for common stock	$ 14,000,000.0
Interest rate (as a percent)	14.00%
Redemption period	4 years
Exercise price of warrants (in dollars per share) \| $ / shares	$ 0.001
Percentage of warrants during time of exercise	6.00%
Proceeds from warrant exercises	$ 5,000,000.0

Revenue - Energy Segment Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Revenue	$ 299.4	$ 400.5	$ 682.8	$ 763.0
Net revenue	377.0	479.2	821.8	928.2
Energy
Segment Reporting Information [Line Items]
Revenue	8.3	5.3	17.0	10.1
RNG incentives	0.1	0.1	0.2	0.4
Alternative fuel tax credit	1.3	0.0	2.7	0.0
Other revenue	0.6	0.1	0.8	0.1
Net revenue	10.3	5.5	20.7	10.6
Volume-related \| Energy
Segment Reporting Information [Line Items]
Revenue	8.3	5.3	17.0	10.1
Maintenance \| Energy
Segment Reporting Information [Line Items]
Revenue	$ 0.0	$ 0.0	$ 0.0	$ 0.0

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of ConsolidationThe Condensed Consolidated Financial Statements include the accounts of the Company, its wholly owned subsidiaries and all other subsidiaries over which the Company exerts control. All intercompany profits, transactions and balances have been eliminated in consolidation. As of June 30, 2020, the results of DBMG, GMH, ANG, ICS, CIG, Genovel, R2, and HC2 Broadcasting 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.
Reclassification	Reclassification Certain previous year amounts have been reclassified to conform with current year presentations, including: •The reclassification of GMSL's results to discontinued operations. Further, the reclassification of prior period assets and liabilities have been classified as held for sale. See Note 3. Discontinued Operations for further information; •As a result of the sale of GMSL, and in accordance with ASC 280, the Company no longer considers the results of operations and Balance Sheets of GMH and its subsidiaries as a separate segment. Formerly the Marine Services segment, these entities and the investment in HMN have been reclassified to the Other segment. See Note 20. Operating Segment and Related Information for further information; and •The restatement of prior year Earnings per share as a result of the discontinued operations noted above. This includes presenting EPS for Net (loss) income from continuing operations, Net (loss) income from discontinuing operations, and Net (loss) income. See Note 21. Basic and Diluted Income Per Common Share for further details.
Accounting Pronouncements	Accounting Pronouncements Adopted in the Current Year The Company has implemented all new accounting pronouncements that are in effect and that may impact its Condensed Consolidated Financial Statements. The Company does not believe that there are any new accounting pronouncements issued since the filing of its 2019 Form 10-K that will have a material impact on its financial condition, results of operations or liquidity. Accounting Pronouncements to be Adopted Subsequent to December 31, 2020 Credit Loss Standard ASU 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments, was issued by FASB in June 2016. This standard is effective January 1, 2020 (with early adoption permitted), and will impact, at least to some extent, the Company's accounting and disclosure requirements for it's recoverable from reinsurers, accounts receivable, and mortgage loans. The FASB has voted to delay the effective date of ASU 2016-13 to January 1, 2023 for smaller reporting companies with a revised ASU in the fourth quarter of 2019. Currently, the Company continues to focus on developing models and procedures, with testing and refinement of models occurring in 2020 and 2021 with parallel testing to be performed in 2022. Available for sale fixed maturity securities are not in scope of the new credit loss model, but will undergo targeted improvements to the current reporting model including the establishment of a valuation allowance for credit losses versus the current direct write down approach. The Company will continue to identify any other financial assets not excluded from scope. The Company plans to use the modified retrospective method which will include a cumulative effect adjustment on the balance sheet as of the beginning of the fiscal year of adoption. However, prospective application is required for purchased credit deteriorated assets previously accounted for under ASU 310-39 for debt securities for which an other-than-temporary impairment ("OTTI") was recognized prior to the date of adoption. The Company does not currently expect to early adopt this standard and is currently evaluating the impact of this new accounting guidance on its Condensed Consolidated Financial Statements. Outlined below are key areas of change, although there are other changes not noted below: •Financial assets (or a group of financial assets) measured at amortized cost will be required to be presented at the net amount expected to be collected, with an allowance for credit losses deducted from the amortized cost basis, resulting in a net carrying value that reflects the amount the entity expects to collect on the financial asset at purchase. •Credit losses relating to available for sale fixed maturity securities will be recorded through an allowance for credit losses, rather than reductions in the amortized cost of the securities and is anticipated to increase volatility in the Company's Condensed Consolidated Statements of Operations. The allowance methodology recognizes that value may be realized either through collection of contractual cash flows or through the sale of the security. Therefore, the amount of the allowance for credit losses will be limited to the amount by which fair value is below amortized cost because the classification as available for sale is premised on an investment strategy that recognizes that the investment could be sold at fair value, if cash collection would result in the realization of an amount less than fair value. •The Company's Condensed Consolidated Statements of Operations will reflect the measurement of expected credit losses for newly recognized financial assets as well as the expected increases or decreases (including the reversal of previously recognized losses) of expected credit losses that have taken place during the period. The measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. •Disclosures will be required to include information around how the credit loss allowance was developed, further details on information currently disclosed about credit quality of financing receivables and net investments in leases, and a rollforward of the allowance for credit losses for available for sale fixed maturity securities as well as an aging analysis for securities that are past due. The Company anticipates a significant impact on the systems, processes and controls. While the requirements of the new guidance represent a material change from existing GAAP, the underlying economics of items in scope and related cash flows are unchanged. Focus areas will include, but not be limited to: (i) updating procedures to reflect new guidance requiring establishment of allowance for credit losses on available for sale debt securities; (ii) establishing procedures to review reinsurance risk to include but not limited to review of reinsurer ratings, trust agreements where applicable and historical and current performance; (iii) establishing procedures to identify and review all remaining financial assets within scope; and (iv) developing, testing, and implementing controls for newly developed procedures, as well as for additional annual reporting requirements. Long-Duration Contracts ASU 2018-12, Financial Services - Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, was issued by the FASB in August 2018 and is expected to have a significant impact on the Company’s Condensed Consolidated Financial Statements and Notes to the Condensed Consolidated Financial Statements. The standard is effective January 1, 2021 (with early adoption permitted), and will impact, at least to some extent, the Company's accounting and disclosure requirements for it's long-duration insurance contracts. The Company does not currently expect to early adopt this standard and is currently evaluating the impact of this new accounting guidance on its Condensed Consolidated Financial Statements. Outlined below are key areas of change, although there are other changes not noted below: •Cash flow assumptions must be reviewed at least annually and updated if necessary. The impact of these updates will be reported through net income. Current accounting policy requires the liability assumptions for long-duration contracts and limited payment contracts be locked in at contract inception, unless the contracts project a loss position which would allow the liability assumptions to be unlocked so that the loss could be recognized. •The rate used to discount the liability projections is to be based on an A-rated asset with observable market inputs and duration consistent with the duration of the liabilities. The discount rate is to be updated quarterly with the impact of the change in the discount rate recognized through other comprehensive income. Current accounting policy allows the use of an expected investment yield (which is not required to be observable in the market) to discount the liability projections. •Deferred acquisition costs for long-duration contracts are to be amortized in proportion to premiums, gross profits, or gross margins and those balances must be amortized on a constant-level basis over the expected life of the contract. Current accounting policy would amortize deferred acquisition costs based on revenue and profits. The Company does not have any deferred acquisition costs but VOBA amortization will follow this new guidance. •Market risk benefits are to be measured at fair value and presented separately in the statement of financial position. Under current accounting policy benefit features that will meet the definition of market risk benefits are accounted for as embedded derivatives or insurance liabilities via the benefit ratio model. The Company does not have any benefit features that will be categorized as market risk benefits. •Disaggregated rollforwards of beginning to ending balances of the liability for future policy benefits, policyholder account balances, VOBA, as well as information about significant inputs, judgments, assumptions, and methods used in measurement are required to be disclosed. The Company anticipates that the requirement to update assumptions for liability for future policy benefits will increase volatility in the Company's Condensed Consolidated Statements of Operations while the requirement to update the discount rate will increase volatility in the Company's Condensed Consolidated Statements of Stockholders' Equity. The Company anticipates a significant impact on the systems, processes and controls. While the requirements of the new guidance represent a material change from existing GAAP, the underlying economics of the Company's Insurance segment and related cash flows are unchanged. The FASB has voted to delay the effective date of ASU 2018-12 to January 1, 2024 for smaller reporting companies with a revised ASU in the fourth quarter of 2019. Currently, the Company plans to focus on developing models and procedures through 2021, with testing and refinement of models occurring in 2022 and parallel testing performed in 2023. The Company may choose one of two adoption methods for the liability for future policy benefits: (i) a modified retrospective transition method whereby the entity will apply the amendments to contracts inforce as of the beginning of the earliest period presented on the basis of their existing carrying amounts adjusted for the removal of any related amounts in AOCI or (ii) a full retrospective transition method. Focus areas will include, but not be limited to: (i) determining an appropriate upper-medium grade fixed income instrument yield source from the market; (ii) establishing appropriate aggregation of liabilities; (iii) establishing liability models for each contract grouping identified that may be quickly updated to reflect current inforce listing and new discount rates on a quarterly basis; (iv) establishing appropriate best estimate assumptions with no provision for adverse deviation; (v) establishing procedures for annual review of assumptions including tracking of actual experience for enhanced reporting requirements; (vi) establishing new VOBA amortization that will align with new guidance for DAC amortization; and (vii) developing, testing, and implementing controls for newly developed procedures, as well as for additional annual reporting requirements. Subsequent Events ASC 855, Subsequent Events requires the Company to evaluate events that occur after the balance sheet date as of which the financial statements are issued, and to determine whether adjustments to or additional disclosures in the financial statements are necessary. See Note 22. Subsequent Events for the summary of the subsequent events.

Related Parties - Summary of Balance Outstanding of Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transactions [Abstract]
Net revenue	$ 0.0	$ 1.0	$ 0.7	$ 3.0
Operating expenses	0.0	0.1	0.0	0.7
Interest expense	0.0	$ 0.3	0.1	$ 0.5
Accounts receivable	0.0		0.0		$ 1.2
Debt obligations	0.0		0.0		22.5
Accounts payable	0.0		0.0		0.1
Dividends	$ 0.0		$ 0.0		$ 4.5

Revenue

6 Months Ended

Jun. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

4. Revenue

Revenue from contracts with customers consist of the following (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Revenue⁽¹⁾
Construction	$	172.3	$	195.7	$	348.8	$	387.8

Energy	10.3		5.5		20.7		10.6
Telecommunications	107.3		189.3		293.7		344.8
Broadcasting	9.5		10.0		19.6		19.8

Total revenue	$	299.4	$	400.5	$	682.8	$	763.0

⁽¹⁾ The Insurance segment does not have revenues in scope of ASC 606.

Accounts receivables, net from contracts with customers consist of the following (in millions):


	June 30,		December 31,
	2020		2019
Accounts receivables with customers
Construction	$	176.1	$	199.2

Energy	12.1		31.1
Telecommunications	43.9		51.9
Broadcasting	7.1		8.5
Total accounts receivables with customers	$	239.2	$	290.7

Construction Segment

The following table disaggregates DBMG's revenue by market (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Commercial	$	54.0	$	52.9	$	116.8	$	112.3
Convention	1.4		28.4		3.8		57.1
Healthcare	4.7		13.6		12.6		22.4
Industrial	59.6		62.7		118.4		116.5
Transportation	23.5		16.3		39.9		34.4
Leisure	11.3		11.5		27.3		26.3
Other	17.2		10.1		29.4		18.6
Total revenue from contracts with customers	171.7		195.5		348.2		387.6
Other revenue	0.6		0.2		0.6		0.2
Total Construction segment revenue	$	172.3	$	195.7	$	348.8	$	387.8

Contract assets and contract liabilities consisted of the following (in millions):


	June 30,		December 31,
	2020		2019
Contract assets	$	57.7	$	50.6
Contract liabilities	$	(68.1)	$	(50.6)

The change in contract assets is a result of the recording of $19.5 million of costs in excess of billings driven by new commercial projects, offset by $12.4 million of costs in excess of billings transferred to receivables from contract assets recognized at the beginning of the period. The change in contract liabilities is a result of periodic billing in excess of costs of $53.6 million driven largely by new commercial projects, offset by revenue recognized that was included in the contract liability balance at the beginning of the period in the amount of $36.1 million.

The transaction price allocated to remaining unsatisfied performance obligations consisted of the following (in millions):


	Within one year				Within five years				Total
Commercial	$	114.5			$	2.9			$	117.4
Convention	25.0				2.5				27.5
Healthcare	48.3				—				48.3
Industrial	80.5				—				80.5
Transportation	36.9				—				36.9
Leisure	13.3				—				13.3
Other	71.1				—				71.1
Remaining unsatisfied performance obligations			$	389.6			$	5.4			$	395.0

Energy Segment

The following table disaggregates ANG's revenue by type (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Volume-related	$	8.3	$	5.3	$	17.0	$	10.1
Maintenance services	—		—		—		—
Total revenue from contracts with customers	8.3		5.3		17.0		10.1
RNG incentives	0.1		0.1		0.2		0.4
Alternative fuel tax credit	1.3		—		2.7		—
Other revenue	0.6		0.1		0.8		0.1
Total Energy segment revenue	$	10.3	$	5.5	$	20.7	$	10.6

Telecommunications Segment

ICS's revenues are predominantly derived from wholesale of international long distance minutes (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Termination of long distance minutes	$	107.3	$	189.3	$	293.7	$	344.8
Total revenue from contracts with customers	107.3		189.3		293.7		344.8
Other revenue	—		—		—		—
Total Telecommunications segment revenue	$	107.3	$	189.3	$	293.7	$	344.8

Broadcasting Segment

The following table disaggregates the Broadcasting segment's revenue by type (in millions):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Network advertising	$	4.0	$	5.4	$	9.0	$	10.8
Broadcast station	3.8		2.9		7.3		5.6
Network distribution	1.0		1.2		2.1		2.7
Other	0.7		0.5		1.2		0.7
Total revenue from contracts with customers	9.5		10.0		19.6		19.8
Other revenue	—		—		—		—
Total Broadcasting segment revenue	$	9.5	$	10.0	$	19.6	$	19.8

The transaction price allocated to remaining unsatisfied performance obligations consisted of $3.8 million, $7.6 million, and $0.2 million of network advertising, broadcasting station revenues, and other revenues, respectively, of which $5.2 million is expected to be recognized within one year and an additional $6.4 million is expected to be recognized within five years.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments and Contingencies Disclosure [Abstract]

Purchase Obligations and Non-Cancellable Operating Leases

Future minimum purchase obligations as of December 31, 2019 were as follows (in millions):


2020	$	86.3
2021	3.3
2022	0.2
2023	0.2
2024	0.2
Thereafter	—
Total obligations	$	90.2

Lessee, Operating Lease, Liability, Maturity

As of December 31, 2019, undiscounted cash flows for finance and operating leases are as follows (in millions):


	Operating Leases		Finance Leases
2020	$	15.1	$	1.0
2021	13.4		0.7
2022	10.9		0.1
2023	8.8		—
2024	6.6		—
Thereafter	8.2		—
Total future lease payments	63.0		1.8
Less: Present values	(9.3)		(0.1)
Total lease liability balance	$	53.7	$	1.7

Finance Lease, Liability, Maturity

As of December 31, 2019, undiscounted cash flows for finance and operating leases are as follows (in millions):


	Operating Leases		Finance Leases
2020	$	15.1	$	1.0
2021	13.4		0.7
2022	10.9		0.1
2023	8.8		—
2024	6.6		—
Thereafter	8.2		—
Total future lease payments	63.0		1.8
Less: Present values	(9.3)		(0.1)
Total lease liability balance	$	53.7	$	1.7

Goodwill and Intangibles, net - Definite Lived Intangible Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 105.6	$ 105.5
Accumulated Amortization	(26.4)	(22.5)
Net	$ 79.2	83.0
Trade names
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	13 years
Gross Carrying Amount	$ 24.2	24.2
Accumulated Amortization	(7.6)	(6.6)
Net	$ 16.6	17.6
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	10 years
Gross Carrying Amount	$ 48.5	48.6
Accumulated Amortization	(15.3)	(13.1)
Net	$ 33.2	35.5
Channel sharing arrangements
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	35 years
Gross Carrying Amount	$ 27.2	27.2
Accumulated Amortization	(1.3)	(0.9)
Net	$ 25.9	26.3
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Original Useful Life	7 years
Gross Carrying Amount	$ 5.7	5.5
Accumulated Amortization	(2.2)	(1.9)
Net	$ 3.5	$ 3.6

Investments - Schedule of Unrealized Losses for Fixed Maturities and Equity Securities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fixed Maturity Securities, Unrealized Losses
Less than 20%	$ (56.8)	$ (32.6)
20% or more for less than six months	(82.7)	0.0
20% or more for six months or greater	(1.2)	(0.8)
Total	$ (140.7)	$ (33.4)
Fixed Maturity Securiites, Percentage of Sales
Less than 20%	40.30%	97.60%
20% or more for less than six months	58.80%	0.00%
20% or more for six months or greater	0.90%	2.40%
Total	100.00%	100.00%

Goodwill and Intangibles, net - Changes in the Carrying Amount of Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 112.5
Translation	0.1
Ending balance	112.6
Construction
Goodwill [Roll Forward]
Beginning balance	89.0
Translation	0.1
Ending balance	89.1
Energy
Goodwill [Roll Forward]
Beginning balance	2.1
Translation	0.0
Ending balance	2.1
Broadcasting
Goodwill [Roll Forward]
Beginning balance	21.4
Translation	0.0
Ending balance	$ 21.4

Basic and Diluted Income Per Common Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Class of Stock [Line Items]
Antidilutive securities (in shares)			0
Warrant [Member]
Class of Stock [Line Items]
Antidilutive securities (in shares)	2,168,454	2,168,454		2,168,454
Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Antidilutive securities (in shares)	2,094,585	2,088,567
Convertible Debt [Member]
Class of Stock [Line Items]
Antidilutive securities (in shares)	12,557,078
Restricted Stock
Class of Stock [Line Items]
Antidilutive securities (in shares)		582,422		486,627

Investments - Schedule of Maturities of Fixed Maturity Securities Available-for-Sale (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Amortized Cost
Amortized Cost	$ 3,824.8
Fair Value
Fair Value	4,116.3	$ 4,028.9
Corporate, Municipal, U.S. Government and Other securities
Amortized Cost
Due in one year or less	40.1
Due after one year through five years	272.1
Due after five years through ten years	420.4
Due after ten years	2,347.5
Subtotal	3,080.1
Fair Value
Due in one year or less	40.4
Due after one year through five years	275.4
Due after five years through ten years	437.9
Due after ten years	2,680.2
Subtotal	3,433.9
Mortgage-backed securities
Amortized Cost
Amortized cost, without single maturity date	168.9
Fair Value
Fair value, without single maturity date	150.9
Asset-backed securities
Amortized Cost
Amortized cost, without single maturity date	575.8
Amortized Cost	575.8	592.6
Fair Value
Fair value, without single maturity date	531.5
Fair Value	$ 531.5	$ 577.8

Revenue - Schedule of Construction Segment Revenue (Details) - Construction $ in Millions	Jun. 30, 2020 USD ($)
Segment Reporting Information [Line Items]
Remaining performance obligations	$ 395.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	389.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	5.4
Commercial
Segment Reporting Information [Line Items]
Remaining performance obligations	117.4
Commercial \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	114.5
Commercial \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	2.9
Convention
Segment Reporting Information [Line Items]
Remaining performance obligations	27.5
Convention \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	25.0
Convention \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	2.5
Healthcare
Segment Reporting Information [Line Items]
Remaining performance obligations	48.3
Healthcare \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	48.3
Healthcare \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	0.0
Industrial
Segment Reporting Information [Line Items]
Remaining performance obligations	80.5
Industrial \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	80.5
Industrial \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	0.0
Transportation
Segment Reporting Information [Line Items]
Remaining performance obligations	36.9
Transportation \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	36.9
Transportation \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	0.0
Leisure
Segment Reporting Information [Line Items]
Remaining performance obligations	13.3
Leisure \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	13.3
Leisure \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	0.0
Other
Segment Reporting Information [Line Items]
Remaining performance obligations	71.1
Other \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	71.1
Other \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Segment Reporting Information [Line Items]
Remaining performance obligations	$ 0.0