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Earnings Per Share | 9 Months Ended
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Jul. 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 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:
|  | Three Month Period Ended |  |  | Nine Month Period Ended |
|  | July 1, 2012 |  |  | July 3, 2011 |  |  | July 1, 2012 |  |  | July 3, 2011 |
Net income (loss) attributable to common and participating preferred stockholders |  | $ | (149,080 | ) |  | $ | 211,341 |  |  | $ | (129,176 | ) |  | $ | 129,321 |
Participating shares at end of period: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock outstanding |  |  | 139,357 |  |  |  | 139,283 |  |  |  | 139,357 |  |  |  | 139,283 |
Preferred stock (as-converted basis) |  |  | 62,526 |  |  |  | 43,307 |  |  |  | 62,526 |  |  |  | 43,307 |
Total |  |  | 201,883 |  |  |  | 182,590 |  |  |  | 201,883 |  |  |  | 182,590 |
Percentage of income (loss) allocated to: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock |  |  | 100.0 | % |  |  | 76.3 | % |  |  | 100.0 | % |  |  | 76.3 | %
Preferred stock |  |  | 0.0 | %(a) |  |  | 23.7 | % |  |  | 0.0 | %(a) |  |  | 23.7 | %
Net income (loss) attributable to common shares — basic and diluted |  | $ | (149,080 | ) |  | $ | 161,215 |  |  | $ | (129,176 | ) |  | $ | 98,648 |
Weighted-average common shares outstanding — basic |  |  | 139,349 |  |  |  | 139,222 |  |  |  | 139,351 |  |  |  | 139,207 |
Dilutive effect of stock options |  |  | — |  |  |  | 70 |  |  |  | — |  |  |  | 73 |
Weighted-average dilutive shares outstanding |  |  | 139,349 |  |  |  | 139,292 |  |  |  | 139,351 |  |  |  | 139,280 |
Net income (loss) per common share attributable to controlling interest: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (1.07 | ) |  | $ | 1.16 |  |  | $ | (0.93 | ) |  | $ | 0.71 |
Diluted |  | $ | (1.07 | ) |  | $ | 1.16 |  |  | $ | (0.93 | ) |  | $ | 0.71 |
(a) | Losses are not allocated to the convertible participating preferred shares since they have no contractual obligation to share in such losses.
The number of shares of common stock outstanding used in calculating the weighted average thereof reflects: (i) for the period prior to the January 7, 2011 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 (ii) for the periods subsequent to and including January 7, 2011, the actual number of HGI common stock outstanding, excluding nonvested restricted stock. At July 1, 2012, there were 62,526 and 2,225 potential common stock issuable upon the conversion of the Preferred Stock and exercise of stock options, respectively, and 831 restricted stock and units, 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 and the effect of the stock options and restricted stock would have been anti-dilutive in the applicable periods presented. The Preferred Stock had a weighted average conversion price of $6.64 and the stock options had a weighted average exercise price of $4.86 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=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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