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Segment Data
 6 Months Ended
Apr. 01, 2012
Segment Data [Abstract]  
Segment Data

(18) Segment Data

The Company follows the accounting guidance which establishes standards for reporting information about operating segments in interim and annual financial statements. The Company’s reportable business segments are organized in a manner that reflects how HGI’s management views those business activities. Accordingly, the Company currently operates its business in two major reporting segments: (i) consumer products through Spectrum Brands and (ii) insurance through FGL (see Note 1 for additional information).

 

Segment information for the three and six month periods ended April 1, 2012 and April 3, 2011 are as follows:

 

                                 
    Three Months     Six Months  
    2012     2011     2012     2011  

Revenues:

                                

Consumer products

   $ 746,285     $ 693,885     $ 1,595,056     $ 1,554,952  

Insurance

     359,087       —         676,365       —    

Other financial services

     429       —         429       —    

Intersegment elimination

     (147 )      —         (147 )      —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated revenues

   $ 1,105,654     $ 693,885     $ 2,271,703     $ 1,554,952  
   

 

 

    

 

 

    

 

 

    

 

 

  

Operating income (loss):

                                

Consumer products

   $ 55,254     $ 47,089     $ 138,950     $ 116,358  

Insurance

     56,341       —         92,865       —    

Other financial services

     (635 )      —         (912 )      —    

Intersegment elimination

     (147 )      —         (147 )      —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Total segments

     110,813       47,089       230,756       116,358  

Corporate expenses (a)

     (14,920 )      (24,660 )      (23,032 )      (29,234 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated operating income

     95,893       22,429       207,724       87,124  

Interest expense

     (84,065 )      (82,690 )      (139,970 )      (140,747 ) 

Other income (expense), net

     4,884       616       34,029       (37 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated income (loss) from continuing operations before income taxes

   $ 16,712     $ (59,645 )    $ 101,783     $ (53,660 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

 

                 
    April 1, 2012     September 30, 2011  

Total assets:

                

Consumer products

   $ 3,848,862     $ 3,626,706  

Insurance

     20,131,076       19,347,961  

Other financial services

     36,881       —    

Intersegment elimination

     (27,400 )      —    
   

 

 

    

 

 

  

Total segments

     23,989,419       22,974,667  

Corporate assets

     545,575       616,221  
   

 

 

    

 

 

  

Consolidated total assets

   $ 24,534,994     $ 23,590,888  
   

 

 

    

 

 

  

 

(a)

Included in corporate expenses for the three and six month periods ended April 1, 2012 are $867 and $1,715, respectively, for start-up costs relating to Front Street and $314 and $2,304, respectively, relating to acquisitions and other projects. For the three and six month periods ended April 3, 2011, there were $814 and $1,638, respectively, for start-up costs related to Front Street and $21,723 and $23,332, respectively, for acquisitions and other projects included in corporate expenses.