Harbinger Group Inc.
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SEC Filings

10-Q
HRG GROUP, INC. filed this Form 10-Q on 02/07/2017
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(12) Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (“EPS”) (share amounts in thousands):
 
Three months ended December 31,
 
2016
 
2015
Net loss from continuing operations attributable to controlling interest
$
(25.5
)
 
$
(21.8
)
Net income (loss) from discontinued operations attributable to controlling interest
237.7

 
(12.1
)
Net income (loss) attributable to controlling interest
$
212.2

 
$
(33.9
)
 
 
 
 
Weighted-average common shares outstanding - basic
199,185

 
197,507

Weighted-average shares outstanding - diluted
199,185

 
197,507

 
 
 
 
Net income (loss) per common share attributable to controlling interest:
 
 
 
Basic loss from continuing operations
$
(0.13
)
 
$
(0.11
)
Basic income (loss) from discontinued operations
1.19

 
(0.06
)
Basic
$
1.06

 
$
(0.17
)
 
 
 
 
Diluted loss from continuing operations
$
(0.13
)
 
$
(0.11
)
Diluted income (loss) from discontinued operations
1.19

 
(0.06
)
Diluted
$
1.06

 
$
(0.17
)
The number of shares of common stock outstanding used in calculating the weighted average thereof reflects the actual number of HRG common stock outstanding, excluding unvested restricted stock.
The following were excluded from the calculation of “Diluted net income (loss) per common share attributable to controlling interest” because the as-converted effect of the unvested restricted stock and stock units, stock options and warrants would have been anti-dilutive (share amounts in thousands):
 
Three months ended December 31,
 
2016
 
2015
Unvested restricted stock and restricted stock units
1,326

 
2,822

Stock options
1,567

 
1,303

Anti-dilutive warrants
104

 
—

For the three months ended December 31, 2015, there were 1.8 million outstanding warrants to purchase HRG common stock at an exercise price of $13.125 per share that were excluded from the calculation of “Diluted net income (loss) per common share attributable to controlling interest” because the exercise price per share was above the average stock price for the three months ended December 31, 2015.
(13) Commitments and Contingencies
Legal and Environmental Matters
The Company had aggregate accruals for its legal, environmental and regulatory matters of approximately $7.0 at December 31, 2016, of which $2.6 related to liabilities of business held for sale. The Company and its subsidiaries are involved in litigation and claims arising out of their prior businesses and arising in the ordinary course out of their current businesses, which include, among other things, indemnification and other claims and litigations involving HRG’s and its subsidiaries’ business practices, transactions, workers compensation matters, environmental matters, and personal injury claims. However, based on currently available information, including legal defenses available to the Company, and given the aforementioned accruals and related insurance coverage, the Company does not believe that the outcome of these legal, environmental and regulatory matters will have a material effect on its financial position, results of operations or cash flows.
HRG
HRG is a defendant in various litigation matters generally arising out of its legacy businesses. HRG does not believe that any of the matters or proceedings presently pending will have a material adverse effect on its results of operations, financial condition, liquidity or cash flows. See discussion above under the heading “Legal and Environmental Matters”.

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