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Earnings Per Share | 12 Months Ended
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Sep. 30, 2012
Earnings Per Share | (18) Earnings Per Share The Company follows the provisions of ASC Topic 260, “Earnings Per Share,” which requires companies with complex capital structures, such as having two (or more) classes of securities that participate in declared dividends to calculate earnings (loss) per share (“EPS”) utilizing the two-class method. As the holders of the Preferred Stock are entitled to receive dividends with common stock on an as-converted basis, the Preferred Stock has the right to participate in undistributed earnings and must therefore be considered under the two-class method. The following table sets forth the computation of basic and diluted EPS:
|  | September 30, |
|  | 2012 |  |  | 2011 |  |  | 2010 |
Income (loss) attributable to common and participating preferred stockholders: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 29,915 |  |  | $ | 22,226 |  |  | $ | (149,134 | )
Loss from discontinued operations |  |  | — |  |  |  | — |  |  |  | (2,735 | )
Net income (loss) |  | $ | 29,915 |  |  | $ | 22,226 |  |  | $ | (151,869 | )
Participating shares at end of period: |  |  |  |  |  |  |  |  |  |  |  |
Common stock outstanding |  |  | 139,357 |  |  |  | 139,346 |  |  |  | 139,197 |
Preferred stock (as-converted basis) |  |  | 62,839 |  |  |  | 60,989 |  |  |  | — |
Total |  |  | 202,196 |  |  |  | 200,335 |  |  |  | 139,197 |
Percentage of income (loss) allocated to: |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 68.9 | % |  |  | 69.6 | % |  |  | 100 | %
Preferred stock |  |  | 31.1 | % |  |  | 30.4 | % |  |  | — |
Income (loss) attributable to common shares — basic: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 20,618 |  |  | $ | 15,460 |  |  | $ | (149,134 | )
Loss from discontinued operations |  |  | — |  |  |  | — |  |  |  | (2,735 | )
Net income (loss) |  | $ | 20,618 |  |  | $ | 15,460 |  |  | $ | (151,869 | )
Dilutive adjustments to income (loss) attributable to common stock from assumed conversion of preferred stock, net of tax: |  |  |  |  |  |  |  |  |  |  |  |
Income allocated to preferred stock in basic calculation |  | $ | — |  |  | $ | 6,766 |  |  | $ | — |
Reversal of preferred stock dividends and accretion |  |  | — |  |  |  | 19,833 |  |  |  | — |
Reversal of income related to fair value of preferred stock conversion feature |  |  | — |  |  |  | (27,910 | ) |  |  | — |
Net adjustment |  | $ | — |  |  | $ | (1,311 | ) |  | $ | — |
Income (loss) attributable to common shares — diluted: |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations |  | $ | 20,618 |  |  | $ | 14,149 |  |  | $ | (149,134 | )
Loss from discontinued operations |  |  | — |  |  |  | — |  |  |  | (2,735 | )
Net income (loss) |  | $ | 20,618 |  |  | $ | 14,149 |  |  | $ | (151,869 | )
Weighted-average common shares outstanding — basic |  |  | 139,356 |  |  |  | 139,233 |  |  |  | 132,399 |
Dilutive effect of preferred stock |  |  | — |  |  |  | 19,064 |  |  |  | — |
Dilutive effect of stock options |  |  | 81 |  |  |  | 87 |  |  |  | — |
Dilutive effect of restricted stock and restricted stock units |  |  | 381 |  |  |  | — |  |  |  | — |
Weighted-average shares outstanding — diluted |  |  | 139,818 |  |  |  | 158,384 |  |  |  | 132,399 |
Basic income (loss) per common share attributable to controlling interest: |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.15 |  |  | $ | 0.11 |  |  | $ | (1.13 | )
Discontinued operations |  |  | — |  |  |  | — |  |  |  | (0.02 | )
Net income (loss) |  | $ | 0.15 |  |  | $ | 0.11 |  |  | $ | (1.15 | )
Diluted income (loss) per common share attributable to controlling interest: |  |  |  |  |  |  |  |  |  |  |  |
Continuing operations |  | $ | 0.15 |  |  | $ | 0.09 |  |  | $ | (1.13 | )
Discontinued operations |  |  | — |  |  |  | — |  |  |  | (0.02 | )
Net income (loss) |  | $ | 0.15 |  |  | $ | 0.09 |  |  | $ | (1.15 | )
The number of shares of common stock outstanding used in calculating the weighted average thereof reflects: (i) for the period prior to the June 16, 2010 (the date of the SB/RH Merger), the number of shares of SBI common stock outstanding multiplied by the 1:1 Spectrum Brands share exchange ratio used in the SB/RH Merger and the 4.32 HGI share exchange ratio used in the Spectrum Brands Acquisition, (ii) for the period from June 16, 2010 to the January 7, 2011 (the date of the Spectrum Brands Acquisition), the number of HGI shares of common stock outstanding plus the 119,910 HGI shares of common stock subsequently issued in connection with the Spectrum Brands Acquisition and (iii) for the periods subsequent to and including January 7, 2011, the actual number of shares of HGI common stock outstanding, excluding unvested restricted stock. At September 30, 2012, there were 62,839 shares issuable upon the conversion of the Preferred Stock that were excluded from the calculation of “Diluted net income (loss) per common share attributable to controlling interest” because the as-converted effect of the Preferred Stock would have been anti-dilutive for the year ended September 30, 2012. The Preferred Stock had a weighted average conversion price of $6.64.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 128 -Paragraph 40 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688 + Details
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