The following table summarizes the components of “Net (loss) income from discontinued operations” attributable to Compass in the accompanying Condensed Consolidated Statements of Operations for the three and six months ended March 31, 2016.
| | | | | | | | | | Three months ended | | Six months ended | | March 31, 2016 | Revenues: | | | | Oil and natural gas revenues | $ | 9.5 |
| | $ | 26.3 |
| | | | | Operating costs and expenses: | | | | Oil and natural gas direct operating costs | 9.2 |
| | 26.3 |
| Selling, acquisition, operating and general expenses | 5.8 |
| | 15.6 |
| Impairments | 21.2 |
| | 75.6 |
| Total operating costs and expenses | 36.2 |
| | 117.5 |
| Operating loss | (26.7 | ) | | (91.2 | ) | Interest expense | (1.4 | ) | | (3.7 | ) | Gain on sale of oil and gas properties | — |
| | 105.6 |
| Other income, net | 0.5 |
| | 2.3 |
| Net (loss) income before income taxes | (27.6 | ) | | 13.0 |
| Income tax expense | 6.9 |
| | 14.4 |
| Net loss | $ | (34.5 | ) | | $ | (1.4 | ) |
(5) Derivative Financial Instruments The fair value of outstanding derivatives recorded in the accompanying Condensed Consolidated Balance Sheets were as follows:
| | | | | | | | | | | | Asset Derivatives | | Classification | | March 31,
2017 | | September 30,
2016 | Derivatives designated as hedging instruments: | | | | | | | Foreign exchange contracts | | Receivables, net | | $ | 4.1 |
| | $ | 5.5 |
| Commodity swaps | | Receivables, net | | 4.1 |
| | 2.9 |
| Commodity swaps | | Other assets | | 0.2 |
| | — |
| Foreign exchange contracts | | Other assets | | 0.1 |
| | 0.1 |
| Total asset derivatives designated as hedging instruments | | | | 8.5 |
| | 8.5 |
| Derivatives not designated as hedging instruments: | | | | | | | Call option receivable from FGL | | Funds withheld receivables | | 13.3 |
| | 11.3 |
| Call options | | Other assets | | 10.5 |
| | 5.9 |
| Foreign exchange contracts | | Receivables, net | | 0.4 |
| | 0.2 |
| Total asset derivatives | | | | $ | 32.7 |
| | $ | 25.9 |
|
| | | | | | | | | | | | Liability Derivatives | | Classification | | March 31,
2017 | | September 30,
2016 | Derivatives designated as hedging instruments: | | | | | | | Interest rate swaps | | Accounts payable and other current liabilities | | $ | — |
| | $ | 0.7 |
| Interest rate swaps | | Other liabilities | | — |
| | 0.4 |
| Commodity swaps | | Accounts payable and other current liabilities | | 0.1 |
| | 0.1 |
| Foreign exchange contracts | | Accounts payable and other current liabilities | | 1.3 |
| | 1.7 |
| Foreign exchange contracts | | Other liabilities | | 0.2 |
| | 0.1 |
| Total liability derivatives designated as hedging instruments | | | | 1.6 |
| | 3.0 |
| Derivatives not designated as hedging instruments: | | | | | | | Embedded derivatives in Front Street's assumed FIA business | | Insurance reserves | | 121.0 |
| | 131.2 |
| Foreign exchange contracts | | Accounts payable and other current liabilities | | 0.6 |
| | 0.2 |
| Total liability derivatives | | | | $ | 123.2 |
| | $ | 134.4 |
|
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