Harbinger Group Inc.
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SEC Filings

HRG GROUP, INC. filed this Form 10-Q on 02/14/1994
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     During the second quarter of fiscal 1994, prices for marine protein
products are expected to increase modestly.  As a result of higher levels of
remaining inventories, sales volumes of fish meal and fish oil will be higher
than those of the prior-year quarter.


     In November 1992, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards No. 112, "Employers' Accounting for Post-
employment Benefits," which will require the recognition of an obligation by
employers who provide benefits to former or inactive employees after employment
but before retirement.  Adoption of the new standard by the Company is required
no later than the fiscal year ending September 30, 1995.  Based on existing
conditions and a preliminary review, management believes adoption of the new
standard will not have a material impact on the Company's results of operations
or financial position as the Company currently provides post-employment benefits
on a very limited basis.

     In May 1993, the Financial Accounting Standards Board issued Statement of
financial Accounting Standards No. 115, "Accounting for Certain Investments in
Debt and Equity Securities" ("SFAS 115"), which addresses the accounting and
reporting for investments in equity securities that have readily determinable
fair values and for all investments in debt securities.  Adoption by Zapata is
required no later than the fiscal year ending September 30, 1995.  Zapata
currently owns approximately 1.0 million shares of Tidewater common stock which
has a book value of approximately $12.3 million.  Upon adoption of SFAS 115,
this security would be reported at fair value and any unrealized gain or loss
recorded as a separate component of stockholders' equity (net of deferred income
taxes).  If Zapata had implemented the new standard at December 31, 1993, an
adjustment would have been made to increase other assets by $8.7 million, with a
corresponding decrease of $3.0 million to the deferred income tax asset and an
increase of $5.7 million to stockholders' equity for the unrealized


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