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Earnings Per Share | 3 Months Ended
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Jan. 01, 2012
Earnings Per Share [Abstract] |
Earnings Per Share | (12) 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 shares 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:
|  | Three Month Period Ended |
|  | January 1, 2012 |  |  | January 2, 2011 |
Net income (loss) attributable to common and participating preferred stockholders |  | $ | 23,759 |  |  | $ | (20,070 | )
Participating shares at end of period: |  |  |  |  |  |  |  |
Common shares outstanding |  |  | 139,346 |  |  |  | 139,202 |
Preferred shares (as-converted basis) |  |  | 61,294 |  |  |  | — |
Total |  |  | 200,640 |  |  |  | 139,202 |
Percentage of income (loss) allocated to: |  |  |  |  |  |  |  |
Common shares |  |  | 69.5 | % |  |  | 100.0 | %
Preferred shares |  |  | 30.5 | % |  |  | — |
Net income (loss) attributable to common shares - basic |  | $ | 16,501 |  |  | $ | (20,070 | )
Dilutive adjustments to income (loss) attributable to common shares from assumed conversion of preferred shares, net of tax: |  |  |  |  |  |  |  |
Income allocated to preferred shares in basic calculation |  |  | 7,258 |  |  |  | — |
Reversal of preferred stock dividends and accretion |  |  | 15,704 |  |  |  | — |
Reversal of income related to fair value of preferred stock conversion feature |  |  | (27,920 | ) |  |  | — |
Net adjustment |  |  | (4,958 | ) |  |  | — |
Net income (loss) attributable to common shares - diluted |  | $ | 11,543 |  |  | $ | (20,070 | )
Weighted-average common shares outstanding - basic |  |  | 139,346 |  |  |  | 139,198 |
Dilutive effect of preferred stock |  |  | 61,294 |  |  |  | — |
Dilutive effect of unvested restricted stock and restricted stock units |  |  | 6 |  |  |  | — |
Dilutive effect of stock options |  |  | 2 |  |  |  | — |
Weighted-average shares outstanding - diluted |  |  | 200,648 |  |  |  | 139,198 |
Net income (loss) per common share attributable to controlling interest: |  |  |  |  |  |  |  |
Basic |  | $ | 0.12 |  |  | $ | (0.14 | )
Diluted |  | $ | 0.06 |  |  | $ | (0.14 | )
The number of common shares outstanding used in calculating the weighted average thereof reflects: (i) for the three month period ended January 2, 2011, the number of HGI common shares outstanding plus the 119,910 HGI common shares subsequently issued in connection with the Spectrum Brands Acquisition and (ii) for the three month period ended January 1, 2012, the actual number of HGI common shares outstanding, excluding nonvested restricted shares. At January 1, 2012, there were 210 potential common shares issuable upon the exercise of stock options, excluded from the calculation of “Diluted income (loss) per common share attributable to controlling interest” because the exercise prices of the stock options were greater than the average market price of the Company’s common stock during the three month period ended January 1, 2012. The stock options had a weighted average exercise price of $6.15 per share.

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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=6920599&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=6945512&loc=d3e4984-109258 Reference 3: 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 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=6920599&loc=d3e1278-109256 Reference 5: 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 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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