Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)
|
6 Months Ended |
Mar. 28, 2015
|
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
Consolidating Condensed Statement of Operations Based on Company's Understanding of SEC's Interpretation |
CONSOLIDATING CONDENSED STATEMENT OF
OPERATIONS
Three Months Ended March 28, 2015
|
|
|
|
(in thousands) |
|
|
|
|
|
|
Parent |
|
|
Non-
Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
150,014 |
|
|
$ |
37,434 |
|
|
$ |
338,994 |
|
|
$ |
(28,840 |
) |
|
$ |
497,602 |
|
Cost of goods sold and occupancy
|
|
|
113,668 |
|
|
|
29,545 |
|
|
|
231,403 |
|
|
|
(27,076 |
) |
|
|
347,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
36,346 |
|
|
|
7,889 |
|
|
|
107,591 |
|
|
|
(1,764 |
) |
|
|
150,062 |
|
Selling, general and administrative expenses
|
|
|
30,843 |
|
|
|
5,339 |
|
|
|
65,673 |
|
|
|
(1,764 |
) |
|
|
100,091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
5,503 |
|
|
|
2,550 |
|
|
|
41,918 |
|
|
|
(0 |
) |
|
|
49,971 |
|
Interest expense
|
|
|
(11,815 |
) |
|
|
(61 |
) |
|
|
(0 |
) |
|
|
(0 |
) |
|
|
(11,876 |
) |
Interest income
|
|
|
18 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
18 |
|
Other income (expense)
|
|
|
(347 |
) |
|
|
(0 |
) |
|
|
226 |
|
|
|
(0 |
) |
|
|
(121 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before taxes and equity in earnings of affiliates
|
|
|
(6,641 |
) |
|
|
2,489 |
|
|
|
42,144 |
|
|
|
(0 |
) |
|
|
37,992 |
|
Income tax (benefit) expense
|
|
|
(1,123 |
) |
|
|
952 |
|
|
|
14,183 |
|
|
|
(0 |
) |
|
|
14,012 |
|
Equity in earnings of affiliates
|
|
|
28,755 |
|
|
|
0 |
|
|
|
796 |
|
|
|
(29,551 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income including noncontrolling interest
|
|
|
23,237 |
|
|
|
1,537 |
|
|
|
28,757 |
|
|
|
(29,551 |
) |
|
|
23,980 |
|
Net income attributable to noncontrolling interest
|
|
|
0 |
|
|
|
743 |
|
|
|
0 |
|
|
|
0 |
|
|
|
743 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet
Company
|
|
$ |
23,237 |
|
|
$ |
794 |
|
|
$ |
28,757 |
|
|
$ |
(29,551 |
) |
|
$ |
23,237 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF
OPERATIONS
Three Months Ended March 29, 2014 (As
Revised)
|
|
|
|
(in thousands) |
|
|
|
|
|
|
Parent |
|
|
Non-
Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
146,049 |
|
|
$ |
40,409 |
|
|
$ |
340,660 |
|
|
$ |
(25,507 |
) |
|
$ |
501,611 |
|
Cost of goods sold and occupancy
|
|
|
109,458 |
|
|
|
30,652 |
|
|
|
237,863 |
|
|
|
(23,958 |
) |
|
|
354,015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
36,591 |
|
|
|
9,757 |
|
|
|
102,797 |
|
|
|
(1,549 |
) |
|
|
147,596 |
|
Selling, general and administrative expenses
|
|
|
29,798 |
|
|
|
6,595 |
|
|
|
67,983 |
|
|
|
(1,549 |
) |
|
|
102,827 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
6,793 |
|
|
|
3,162 |
|
|
|
34,814 |
|
|
|
0 |
|
|
|
44,769 |
|
Interest expense
|
|
|
(10,375 |
) |
|
|
(25 |
) |
|
|
(5 |
) |
|
|
0 |
|
|
|
(10,405 |
) |
Interest income
|
|
|
16 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
16 |
|
Other income
|
|
|
50 |
|
|
|
0 |
|
|
|
58 |
|
|
|
0 |
|
|
|
108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before taxes and equity in earnings of affiliates
|
|
|
(3,516 |
) |
|
|
3,137 |
|
|
|
34,867 |
|
|
|
0 |
|
|
|
34,488 |
|
Income tax (benefit) expense
|
|
|
(1,011 |
) |
|
|
1,226 |
|
|
|
12,784 |
|
|
|
0 |
|
|
|
12,999 |
|
Equity in earnings of affiliates
|
|
|
23,400 |
|
|
|
0 |
|
|
|
1,353 |
|
|
|
(24,753 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income including noncontrolling interest
|
|
|
20,895 |
|
|
|
1,911 |
|
|
|
23,436 |
|
|
|
(24,753 |
) |
|
|
21,489 |
|
Net income attributable to noncontrolling interest
|
|
|
0 |
|
|
|
594 |
|
|
|
0 |
|
|
|
0 |
|
|
|
594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet
Company
|
|
$ |
20,895 |
|
|
$ |
1,317 |
|
|
$ |
23,436 |
|
|
$ |
(24,753 |
) |
|
$ |
20,895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF
OPERATIONS
Six Months Ended March 28, 2015
|
|
|
|
(in thousands) |
|
|
|
|
|
|
Parent |
|
|
Non-
Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
246,976 |
|
|
$ |
54,757 |
|
|
$ |
546,119 |
|
|
$ |
(42,930 |
) |
|
$ |
804,922 |
|
Cost of goods sold and occupancy
|
|
|
192,447 |
|
|
|
44,123 |
|
|
|
370,494 |
|
|
|
(40,185 |
) |
|
|
566,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
54,529 |
|
|
|
10,634 |
|
|
|
175,625 |
|
|
|
(2,745 |
) |
|
|
238,043 |
|
Selling, general and administrative expenses
|
|
|
58,694 |
|
|
|
9,338 |
|
|
|
121,647 |
|
|
|
(2,745 |
) |
|
|
186,934 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations
|
|
|
(4,165 |
) |
|
|
1,296 |
|
|
|
53,978 |
|
|
|
(0 |
) |
|
|
51,109 |
|
Interest expense
|
|
|
(22,302 |
) |
|
|
(76 |
) |
|
|
(1 |
) |
|
|
(0 |
) |
|
|
(22,379 |
) |
Interest income
|
|
|
88 |
|
|
|
1 |
|
|
|
0 |
|
|
|
0 |
|
|
|
89 |
|
Other income (expense)
|
|
|
(677 |
) |
|
|
(0 |
) |
|
|
188 |
|
|
|
(0 |
) |
|
|
(489 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before taxes and equity in earnings of affiliates
|
|
|
(27,056 |
) |
|
|
1,221 |
|
|
|
54,165 |
|
|
|
(0 |
) |
|
|
28,330 |
|
Income tax (benefit) expense
|
|
|
(9,580 |
) |
|
|
508 |
|
|
|
19,115 |
|
|
|
(0 |
) |
|
|
10,043 |
|
Equity in earnings of affiliates
|
|
|
35,016 |
|
|
|
0 |
|
|
|
209 |
|
|
|
(35,225 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income including noncontrolling interest
|
|
|
17,540 |
|
|
|
713 |
|
|
|
35,259 |
|
|
|
(35,225 |
) |
|
|
18,287 |
|
Net income attributable to noncontrolling interest
|
|
|
0 |
|
|
|
747 |
|
|
|
0 |
|
|
|
0 |
|
|
|
747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to Central Garden & Pet
Company
|
|
$ |
17,540 |
|
|
$ |
(34 |
) |
|
$ |
35,259 |
|
|
$ |
(35,225 |
) |
|
$ |
17,540 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Six Months Ended March 29, 2014 (As
Revised)
|
|
|
|
|
|
|
(in thousands) |
|
|
|
|
|
|
Parent |
|
|
Non-
Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
232,282 |
|
|
$ |
53,795 |
|
|
$ |
543,682 |
|
|
$ |
(37,627 |
) |
|
$ |
792,132 |
|
Cost of goods sold and occupancy
|
|
|
177,949 |
|
|
|
41,661 |
|
|
|
380,365 |
|
|
|
(35,180 |
) |
|
|
564,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
54,333 |
|
|
|
12,134 |
|
|
|
163,317 |
|
|
|
(2,447 |
) |
|
|
227,337 |
|
Selling, general and administrative expenses
|
|
|
55,654 |
|
|
|
10,012 |
|
|
|
127,704 |
|
|
|
(2,447 |
) |
|
|
190,923 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations
|
|
|
(1,321 |
) |
|
|
2,122 |
|
|
|
35,613 |
|
|
|
0 |
|
|
|
36,414 |
|
Interest expense
|
|
|
(22,566 |
) |
|
|
(31 |
) |
|
|
(25 |
) |
|
|
0 |
|
|
|
(22,622 |
) |
Interest income
|
|
|
29 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
29 |
|
Other income (expense)
|
|
|
7 |
|
|
|
0 |
|
|
|
(67 |
) |
|
|
0 |
|
|
|
(60 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before taxes and equity in earnings of affiliates
|
|
|
(23,851 |
) |
|
|
2,091 |
|
|
|
35,521 |
|
|
|
0 |
|
|
|
13,761 |
|
Income tax (benefit) expense
|
|
|
(8,818 |
) |
|
|
911 |
|
|
|
12,991 |
|
|
|
0 |
|
|
|
5,084 |
|
Equity in earnings of affiliates
|
|
|
23,220 |
|
|
|
0 |
|
|
|
1,053 |
|
|
|
(24,273 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income including noncontrolling interest
|
|
|
8,187 |
|
|
|
1,180 |
|
|
|
23,583 |
|
|
|
(24,273 |
) |
|
|
8,677 |
|
Net income attributable to noncontrolling interest
|
|
|
0 |
|
|
|
490 |
|
|
|
0 |
|
|
|
0 |
|
|
|
490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet
Company
|
|
$ |
8,187 |
|
|
$ |
690 |
|
|
$ |
23,583 |
|
|
$ |
(24,273 |
) |
|
$ |
8,187 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidating Condensed Statements of Comprehensive Income (Loss) Based on Company's Understanding of SEC's Interpretation |
CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
(LOSS)
Three Months Ended March 28, 2015
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-
Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net income
|
|
$ |
23,237 |
|
|
$ |
1,537 |
|
|
$ |
28,757 |
|
|
$ |
(29,551 |
) |
|
$ |
23,980 |
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized loss on securities
|
|
|
(20 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(20 |
) |
Reclassification of realized loss on securities included in net
income
|
|
|
20 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
20 |
|
Foreign currency translation
|
|
|
(626 |
) |
|
|
(355 |
) |
|
|
(164 |
) |
|
|
519 |
|
|
|
(626 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
22,611 |
|
|
|
1,182 |
|
|
|
28,593 |
|
|
|
(29,032 |
) |
|
|
23,354 |
|
Comprehensive income attributable to noncontrolling interests
|
|
|
0 |
|
|
|
743 |
|
|
|
0 |
|
|
|
0 |
|
|
|
743 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to Central Garden & Pet
Company
|
|
$ |
22,611 |
|
|
$ |
439 |
|
|
$ |
28,593 |
|
|
$ |
(29,032 |
) |
|
$ |
22,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Three Months Ended March 29, 2014 (As
Revised)
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries |
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net income
|
|
$ |
20,895 |
|
|
$ |
1,911 |
|
|
$ |
23,436 |
|
|
$ |
(24,753 |
) |
|
$ |
21,489 |
|
|
|
|
|
|
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation
|
|
|
0 |
|
|
|
2 |
|
|
|
0 |
|
|
|
0 |
|
|
|
2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
20,895 |
|
|
|
1,913 |
|
|
|
23,436 |
|
|
|
(24,753 |
) |
|
|
21,491 |
|
Comprehensive income attributable to noncontrolling interests
|
|
|
0 |
|
|
|
594 |
|
|
|
0 |
|
|
|
0 |
|
|
|
594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to Central Garden & Pet
Company
|
|
$ |
20,895 |
|
|
$ |
1,319 |
|
|
$ |
23,436 |
|
|
$ |
(24,753 |
) |
|
$ |
20,897 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME
Six Months Ended March 28, 2015
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries |
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net income
|
|
$ |
17,540 |
|
|
$ |
713 |
|
|
$ |
35,259 |
|
|
$ |
(35,225 |
) |
|
$ |
18,287 |
|
|
|
|
|
|
|
Other comprehensive income (loss):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized loss on securities
|
|
|
(10 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(10 |
) |
Reclassification of realized loss on securities included in net
income
|
|
|
20 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
20 |
|
Foreign currency translation
|
|
|
(1,178 |
) |
|
|
(700 |
) |
|
|
(268 |
) |
|
|
968 |
|
|
|
(1,178 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
16,372 |
|
|
|
13 |
|
|
|
34,991 |
|
|
|
(34,257 |
) |
|
|
17,119 |
|
Comprehensive income attributable to noncontrolling interests
|
|
|
0 |
|
|
|
747 |
|
|
|
0 |
|
|
|
0 |
|
|
|
747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to Central
Garden & Pet Company
|
|
$ |
16,372 |
|
|
$ |
(734 |
) |
|
$ |
34,991 |
|
|
$ |
(34,257 |
) |
|
$ |
16,372 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
Six Months Ended March 29, 2014 (As
Revised)
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries |
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net income
|
|
$ |
8,187 |
|
|
$ |
1,180 |
|
|
$ |
23,583 |
|
|
$ |
(24,273 |
) |
|
$ |
8,677 |
|
|
|
|
|
|
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation
|
|
|
0 |
|
|
|
87 |
|
|
|
0 |
|
|
|
0 |
|
|
|
87 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
8,187 |
|
|
|
1,267 |
|
|
|
23,583 |
|
|
|
(24,273 |
) |
|
|
8,764 |
|
Comprehensive income attributable to noncontrolling interests
|
|
|
0 |
|
|
|
490 |
|
|
|
0 |
|
|
|
0 |
|
|
|
490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to Central Garden & Pet
Company
|
|
$ |
8,187 |
|
|
$ |
777 |
|
|
$ |
23,583 |
|
|
$ |
(24,273 |
) |
|
$ |
8,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidating Condensed Balance Sheet Based on Company's Understanding of SEC's Interpretation |
|
|
CONSOLIDATING CONDENSED BALANCE SHEET
March 28, 2015
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-
Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
6,159 |
|
|
$ |
4,309 |
|
|
$ |
1,475 |
|
|
$ |
0 |
|
|
$ |
11,943 |
|
Restricted cash
|
|
|
12,583 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
12,583 |
|
Accounts receivable, net
|
|
|
86,569 |
|
|
|
17,099 |
|
|
|
218,097 |
|
|
|
0 |
|
|
|
321,765 |
|
Inventories
|
|
|
95,564 |
|
|
|
19,429 |
|
|
|
267,335 |
|
|
|
0 |
|
|
|
382,328 |
|
Prepaid expenses and other
|
|
|
26,013 |
|
|
|
901 |
|
|
|
31,337 |
|
|
|
0 |
|
|
|
58,251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
226,888 |
|
|
|
41,738 |
|
|
|
518,244 |
|
|
|
0 |
|
|
|
786,870 |
|
Land, buildings, improvements and equipment, net
|
|
|
57,093 |
|
|
|
3,590 |
|
|
|
102,524 |
|
|
|
0 |
|
|
|
163,207 |
|
Goodwill
|
|
|
0 |
|
|
|
0 |
|
|
|
209,089 |
|
|
|
0 |
|
|
|
209,089 |
|
Other long term assets
|
|
|
34,187 |
|
|
|
3,999 |
|
|
|
81,263 |
|
|
|
(5,607 |
) |
|
|
113,842 |
|
Intercompany receivable
|
|
|
44,855 |
|
|
|
0 |
|
|
|
293,685 |
|
|
|
(338,540 |
) |
|
|
0 |
|
Investment in subsidiaries
|
|
|
1,017,461 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(1,017,461 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,380,484 |
|
|
$ |
49,327 |
|
|
$ |
1,204,805 |
|
|
$ |
(1,361,608 |
) |
|
$ |
1,273,008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
47,277 |
|
|
$ |
10,169 |
|
|
$ |
82,375 |
|
|
$ |
0 |
|
|
$ |
139,821 |
|
Accrued expenses
|
|
|
39,061 |
|
|
|
2,857 |
|
|
|
41,524 |
|
|
|
0 |
|
|
|
83,442 |
|
Current portion of long-term debt
|
|
|
259 |
|
|
|
0 |
|
|
|
30 |
|
|
|
0 |
|
|
|
289 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
86,597 |
|
|
|
13,026 |
|
|
|
123,929 |
|
|
|
0 |
|
|
|
223,552 |
|
Long-term debt
|
|
|
514,841 |
|
|
|
0 |
|
|
|
83 |
|
|
|
0 |
|
|
|
514,924 |
|
Intercompany payable
|
|
|
288,423 |
|
|
|
50,117 |
|
|
|
0 |
|
|
|
(338,540 |
) |
|
|
0 |
|
Losses in excess of investment in subsidiaries
|
|
|
0 |
|
|
|
0 |
|
|
|
14,104 |
|
|
|
(14,104 |
) |
|
|
0 |
|
Other long-term obligations
|
|
|
1,437 |
|
|
|
0 |
|
|
|
48,719 |
|
|
|
(5,607 |
) |
|
|
44,549 |
|
Total Central Garden & Pet shareholders’ equity
|
|
|
489,186 |
|
|
|
(14,613 |
) |
|
|
1,017,970 |
|
|
|
(1,003,357 |
) |
|
|
489,186 |
|
Noncontrolling interest
|
|
|
0 |
|
|
|
797 |
|
|
|
0 |
|
|
|
0 |
|
|
|
797 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
489,186 |
|
|
|
(13,816 |
) |
|
|
1,017,970 |
|
|
|
(1,003,357 |
) |
|
|
489,983 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,380,484 |
|
|
$ |
49,327 |
|
|
$ |
1,204,805 |
|
|
$ |
(1,361,608 |
) |
|
$ |
1,273,008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET
March 29, 2014 (As Revised)
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries |
|
|
Guarantor
Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
8,001 |
|
|
$ |
6,819 |
|
|
$ |
1,928 |
|
|
$ |
0 |
|
|
$ |
16,748 |
|
Short term investments
|
|
|
14,220 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
14,220 |
|
Accounts receivable, net
|
|
|
81,577 |
|
|
|
17,792 |
|
|
|
223,814 |
|
|
|
0 |
|
|
|
323,183 |
|
Inventories
|
|
|
106,858 |
|
|
|
22,158 |
|
|
|
273,704 |
|
|
|
0 |
|
|
|
402,720 |
|
Prepaid expenses and other
|
|
|
25,151 |
|
|
|
740 |
|
|
|
29,991 |
|
|
|
0 |
|
|
|
55,882 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
235,807 |
|
|
|
47,509 |
|
|
|
529,437 |
|
|
|
0 |
|
|
|
812,753 |
|
Land, buildings, improvements and equipment, net
|
|
|
75,320 |
|
|
|
2,583 |
|
|
|
107,451 |
|
|
|
0 |
|
|
|
185,354 |
|
Goodwill
|
|
|
0 |
|
|
|
0 |
|
|
|
205,756 |
|
|
|
0 |
|
|
|
205,756 |
|
Other long term assets
|
|
|
20,331 |
|
|
|
3,614 |
|
|
|
72,061 |
|
|
|
(5,522 |
) |
|
|
90,484 |
|
Intercompany receivable
|
|
|
41,540 |
|
|
|
0 |
|
|
|
219,454 |
|
|
|
(260,994 |
) |
|
|
0 |
|
Investment in subsidiaries
|
|
|
955,388 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(955,388 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,328,386 |
|
|
$ |
53,706 |
|
|
$ |
1,134,159 |
|
|
$ |
(1,221,904 |
) |
|
$ |
1,294,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
49,181 |
|
|
$ |
13,414 |
|
|
$ |
79,557 |
|
|
$ |
0 |
|
|
$ |
142,152 |
|
Accrued expenses
|
|
|
32,409 |
|
|
|
2,775 |
|
|
|
45,702 |
|
|
|
0 |
|
|
|
80,886 |
|
Current portion of long-term debt
|
|
|
270 |
|
|
|
0 |
|
|
|
33 |
|
|
|
0 |
|
|
|
303 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
81,860 |
|
|
|
16,189 |
|
|
|
125,292 |
|
|
|
0 |
|
|
|
223,341 |
|
Long-term debt
|
|
|
544,917 |
|
|
|
0 |
|
|
|
115 |
|
|
|
0 |
|
|
|
545,032 |
|
Intercompany payable
|
|
|
215,634 |
|
|
|
45,360 |
|
|
|
0 |
|
|
|
(260,994 |
) |
|
|
|
|
Losses in excess of investment in subsidiaries
|
|
|
0 |
|
|
|
0 |
|
|
|
8,047 |
|
|
|
(8,047 |
) |
|
|
0 |
|
Other long-term obligations
|
|
|
1,674 |
|
|
|
0 |
|
|
|
44,318 |
|
|
|
(5,522 |
) |
|
|
40,470 |
|
Total Central Garden & Pet shareholders’ equity
|
|
|
484,301 |
|
|
|
(9,046 |
) |
|
|
956,387 |
|
|
|
(947,341 |
) |
|
|
484,301 |
|
Noncontrolling interest
|
|
|
0 |
|
|
|
1,203 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,203 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
484,301 |
|
|
|
(7,843 |
) |
|
|
956,387 |
|
|
|
(947,341 |
) |
|
|
485,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,328,386 |
|
|
$ |
53,706 |
|
|
$ |
1,134,159 |
|
|
$ |
(1,221,904 |
) |
|
$ |
1,294,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET
September 27, 2014
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries |
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
63,471 |
|
|
$ |
12,806 |
|
|
$ |
2,399 |
|
|
$ |
0 |
|
|
$ |
78,676 |
|
Restricted cash
|
|
|
14,283 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
14,283 |
|
Short term investments
|
|
|
9,990 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
9,990 |
|
Accounts receivable, net
|
|
|
41,235 |
|
|
|
8,268 |
|
|
|
144,226 |
|
|
|
0 |
|
|
|
193,729 |
|
Inventories
|
|
|
79,199 |
|
|
|
15,210 |
|
|
|
231,977 |
|
|
|
0 |
|
|
|
326,386 |
|
Prepaid expenses and other
|
|
|
26,092 |
|
|
|
816 |
|
|
|
21,580 |
|
|
|
0 |
|
|
|
48,488 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
234,270 |
|
|
|
37,100 |
|
|
|
400,182 |
|
|
|
0 |
|
|
|
671,552 |
|
Land, buildings, improvements and equipment, net
|
|
|
63,059 |
|
|
|
3,649 |
|
|
|
100,141 |
|
|
|
0 |
|
|
|
166,849 |
|
Goodwill
|
|
|
0 |
|
|
|
0 |
|
|
|
208,233 |
|
|
|
0 |
|
|
|
208,233 |
|
Other long term assets
|
|
|
25,230 |
|
|
|
4,244 |
|
|
|
83,713 |
|
|
|
(11,094 |
) |
|
|
102,093 |
|
Intercompany receivable
|
|
|
16,906 |
|
|
|
0 |
|
|
|
351,423 |
|
|
|
(368,329 |
) |
|
|
0 |
|
Investment in subsidiaries
|
|
|
983,413 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(983,413 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,322,878 |
|
|
$ |
44,993 |
|
|
$ |
1,143,692 |
|
|
$ |
(1,362,836 |
) |
|
$ |
1,148,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
28,937 |
|
|
$ |
3,542 |
|
|
$ |
55,949 |
|
|
$ |
0 |
|
|
$ |
88,428 |
|
Accrued expenses
|
|
|
34,151 |
|
|
|
1,868 |
|
|
|
48,360 |
|
|
|
0 |
|
|
|
84,379 |
|
Current portion of long term debt
|
|
|
261 |
|
|
|
0 |
|
|
|
30 |
|
|
|
0 |
|
|
|
291 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
63,349 |
|
|
|
5,410 |
|
|
|
104,339 |
|
|
|
0 |
|
|
|
173,098 |
|
Long-term debt
|
|
|
449,855 |
|
|
|
0 |
|
|
|
93 |
|
|
|
0 |
|
|
|
449,948 |
|
Intercompany payable
|
|
|
323,315 |
|
|
|
45,014 |
|
|
|
0 |
|
|
|
(368,329 |
) |
|
|
0 |
|
Losses in excess of investment in subsidiaries
|
|
|
0 |
|
|
|
0 |
|
|
|
7,594 |
|
|
|
(7,594 |
) |
|
|
0 |
|
Other long-term obligations
|
|
|
1,636 |
|
|
|
0 |
|
|
|
48,686 |
|
|
|
(11,094 |
) |
|
|
39,228 |
|
Total Central Garden & Pet shareholders’ equity
|
|
|
484,723 |
|
|
|
(7,161 |
) |
|
|
982,980 |
|
|
|
(975,819 |
) |
|
|
484,723 |
|
Noncontrolling interest
|
|
|
0 |
|
|
|
1,730 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,730 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
484,723 |
|
|
|
(5,431 |
) |
|
|
982,980 |
|
|
|
(975,819 |
) |
|
|
486,453 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,322,878 |
|
|
$ |
44,993 |
|
|
$ |
1,143,692 |
|
|
$ |
(1,362,836 |
) |
|
$ |
1,148,727 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidating Condensed Statement of Cash Flows Based on Company's Understanding of SEC's Interpretation |
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH
FLOWS
Six Months Ended March 28, 2015
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net cash used by operating activities
|
|
$ |
(36,828 |
) |
|
$ |
(5,623 |
) |
|
$ |
(49,351 |
) |
|
$ |
(6,719 |
) |
|
$ |
(98,521 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to property, plant and equipment
|
|
|
(1,359 |
) |
|
|
(154 |
) |
|
|
(9,512 |
) |
|
|
(0 |
) |
|
|
(11,025 |
) |
Payments to acquire companies, net of cash acquired
|
|
|
(16,000 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(16,000 |
) |
Proceeds from short term investments
|
|
|
9,997 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
9,997 |
|
Investment in short term investments
|
|
|
(17 |
) |
|
|
(0 |
) |
|
|
(0 |
) |
|
|
(0 |
) |
|
|
(17 |
) |
Change in restricted cash
|
|
|
1,700 |
|
|
|
(0 |
) |
|
|
(0 |
) |
|
|
(0 |
) |
|
|
1,700 |
|
Other investing activities
|
|
|
(331 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(331 |
) |
Intercompany investing activities
|
|
|
(27,949 |
) |
|
|
(0 |
) |
|
|
57,738 |
|
|
|
(29,789 |
) |
|
|
(0 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used) provided by investing activities
|
|
|
(33,959 |
) |
|
|
(154 |
) |
|
|
48,226 |
|
|
|
(29,789 |
) |
|
|
(15,676 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments of long-term debt
|
|
|
(50,131 |
) |
|
|
(0 |
) |
|
|
(10 |
) |
|
|
(0 |
) |
|
|
(50,141 |
) |
Borrowings under revolving line of credit
|
|
|
186,000 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
186,000 |
|
Repayments on revolving line of credit
|
|
|
(71,000 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(71,000 |
) |
Proceeds from issuance of common stock
|
|
|
1,220 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,220 |
|
Repurchase of common stock
|
|
|
(17,164 |
) |
|
|
(0 |
) |
|
|
(0 |
) |
|
|
(0 |
) |
|
|
(17,164 |
) |
Distribution to noncontrolling interest
|
|
|
0 |
|
|
|
(1,680 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(1,680 |
) |
Excess tax benefits from stock-based awards
|
|
|
351 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
351 |
|
Distribution to parent
|
|
|
0 |
|
|
|
(6,719 |
) |
|
|
0 |
|
|
|
6,719 |
|
|
|
0 |
|
Intercompany financing activities
|
|
|
(34,891 |
) |
|
|
5,102 |
|
|
|
0 |
|
|
|
29,789 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided (used) by financing activities
|
|
|
14,385 |
|
|
|
(3,297 |
) |
|
|
(10 |
) |
|
|
36,508 |
|
|
|
47,586 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash
|
|
|
(910 |
) |
|
|
577 |
|
|
|
211 |
|
|
|
0 |
|
|
|
(122 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents
|
|
|
(57,312 |
) |
|
|
(8,497 |
) |
|
|
(924 |
) |
|
|
0 |
|
|
|
(66,733 |
) |
Cash and cash equivalents at beginning of year
|
|
|
63,471 |
|
|
|
12,806 |
|
|
|
2,399 |
|
|
|
0 |
|
|
|
78,676 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year
|
|
$ |
6,159 |
|
|
$ |
4,309 |
|
|
$ |
1,475 |
|
|
$ |
0 |
|
|
$ |
11,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH
FLOWS
Six Months Ended March 29, 2014 (As
Revised)
|
|
|
|
(in thousands) |
|
|
|
Parent |
|
|
Non-Guarantor
Subsidiaries
|
|
|
Guarantor
Subsidiaries
|
|
|
Eliminations
|
|
|
Consolidated
|
|
Net cash (used) provided by operating activities
|
|
$ |
(35,501 |
) |
|
$ |
604 |
|
|
$ |
(22,612 |
) |
|
$ |
(2,534 |
) |
|
$ |
(60,043 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to property, plant and equipment
|
|
|
(4,507 |
) |
|
|
(473 |
) |
|
|
(5,044 |
) |
|
|
0 |
|
|
|
(10,024 |
) |
Proceeds from short term investments
|
|
|
3,600 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
3,600 |
|
Intercompany investing activities
|
|
|
(31,360 |
) |
|
|
0 |
|
|
|
27,043 |
|
|
|
4,317 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used) provided by investing activities
|
|
|
(32,267 |
) |
|
|
(473 |
) |
|
|
21,999 |
|
|
|
4,317 |
|
|
|
(6,424 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments of long-term debt
|
|
|
(104 |
) |
|
|
0 |
|
|
|
(99 |
) |
|
|
0 |
|
|
|
(203 |
) |
Borrowings under revolving line of credit
|
|
|
188,000 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
188,000 |
|
Repayments on revolving line of credit
|
|
|
(116,000 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(116,000 |
) |
Proceeds from issuance of common stock
|
|
|
461 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
461 |
|
Repurchase of common stock
|
|
|
(924 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(924 |
) |
Distribution to noncontrolling interest
|
|
|
0 |
|
|
|
(633 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(633 |
) |
Payment of deferred financing costs
|
|
|
(3,087 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
(3,087 |
) |
Excess tax benefits from stock-based awards
|
|
|
321 |
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
321 |
|
Distribution to parent
|
|
|
0 |
|
|
|
(2,534 |
) |
|
|
0 |
|
|
|
2,534 |
|
|
|
0 |
|
Intercompany financing activities
|
|
|
1,376 |
|
|
|
2,941 |
|
|
|
0 |
|
|
|
(4,317 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash (used) provided by financing activities
|
|
|
70,043 |
|
|
|
(226 |
) |
|
|
(99 |
) |
|
|
(1,783 |
) |
|
|
67,935 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rates on cash
|
|
|
288 |
|
|
|
(89 |
) |
|
|
(75 |
) |
|
|
0 |
|
|
|
124 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
2,563 |
|
|
|
(184 |
) |
|
|
(787 |
) |
|
|
0 |
|
|
|
1,592 |
|
Cash and cash equivalents at beginning of year
|
|
|
5,438 |
|
|
|
7,003 |
|
|
|
2,715 |
|
|
|
0 |
|
|
|
15,156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of year
|
|
$ |
8,001 |
|
|
$ |
6,819 |
|
|
$ |
1,928 |
|
|
$ |
0 |
|
|
$ |
16,748 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Schedule of Error Corrections for Consolidating Condensed Financial Statements to Present Results for Non-Guarantor Subsidiaries |
The Company assessed the materiality of these items on previously
issued financial statements in accordance with SEC Staff Accounting
Bulletins No. 99 and No. 108, and concluded that the
revisions were not material to the Consolidating Condensed
Financial Statements. The impact of these revisions is shown in the
following tables:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Three Months Ended March 29, 2014
|
|
|
|
As previously reported |
|
|
Adjustments |
|
|
As revised |
|
Parent
|
|
$ |
9,935 |
|
|
$ |
(3,142 |
) |
|
$ |
6,793 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
3,162 |
|
|
|
3,162 |
|
Guarantor subsidiaries
|
|
|
34,834 |
|
|
|
(20 |
) |
|
|
34,814 |
|
Eliminations
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
44,769 |
|
|
|
0 |
|
|
|
44,769 |
|
|
|
|
|
Parent
|
|
|
20,895 |
|
|
|
0 |
|
|
|
20,895 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
1,317 |
|
|
|
1,317 |
|
Guarantor subsidiaries
|
|
|
23,516 |
|
|
|
(80 |
) |
|
|
23,436 |
|
Eliminations
|
|
|
(23,516 |
) |
|
|
(1,237 |
) |
|
|
(24,753 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet
Company
|
|
$ |
20,895 |
|
|
$ |
0 |
|
|
$ |
20,895 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Six Months Ended March 29, 2014
|
|
|
|
As previously reported
|
|
|
Adjustments |
|
|
As revised |
|
Parent
|
|
$ |
1,152 |
|
|
$ |
(2,473 |
) |
|
$ |
(1,321 |
) |
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
2,122 |
|
|
|
2,122 |
|
Guarantor subsidiaries
|
|
|
35,262 |
|
|
|
351 |
|
|
|
35,613 |
|
Eliminations
|
|
|
0 |
|
|
|
0 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations
|
|
|
36,414 |
|
|
|
0 |
|
|
|
36,414 |
|
|
|
|
|
Parent
|
|
|
8,187 |
|
|
|
0 |
|
|
|
8,187 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
690 |
|
|
|
690 |
|
Guarantor subsidiaries
|
|
|
23,408 |
|
|
|
175 |
|
|
|
23,583 |
|
Eliminations
|
|
|
(23,408 |
) |
|
|
(865 |
) |
|
|
(24,273 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet
Company
|
|
$ |
8,187 |
|
|
$ |
0 |
|
|
$ |
8,187 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT
OF COMPREHENSIVE INCOME
|
|
|
|
As previously reported
|
|
|
Three Months Ended
March 29, 2014
Adjustments
|
|
|
As revised |
|
Parent
|
|
$ |
(2,027 |
) |
|
$ |
22,922 |
|
|
$ |
20,895 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
1,911 |
|
|
|
1,911 |
|
Guarantor subsidiaries
|
|
|
23,516 |
|
|
|
(80 |
) |
|
|
23,436 |
|
Eliminations
|
|
|
0 |
|
|
|
(24,753 |
) |
|
|
(24,753 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
21,489 |
|
|
|
0 |
|
|
|
21,489 |
|
|
|
|
|
Parent
|
|
|
(2,025 |
) |
|
|
22,920 |
|
|
|
20,895 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
1,913 |
|
|
|
1,913 |
|
Guarantor subsidiaries
|
|
|
23,516 |
|
|
|
(80 |
) |
|
|
23,436 |
|
Eliminations
|
|
|
0 |
|
|
|
(24,753 |
) |
|
|
(24,753 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income (loss)
|
|
|
21,491 |
|
|
|
0 |
|
|
|
21,491 |
|
|
|
|
|
Parent
|
|
|
(2,619 |
) |
|
|
23,514 |
|
|
|
20,895 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
1,319 |
|
|
|
1,319 |
|
Guarantor subsidiaries
|
|
|
23,516 |
|
|
|
(80 |
) |
|
|
23,436 |
|
Eliminations
|
|
|
0 |
|
|
|
(24,753 |
) |
|
|
(24,753 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to Central
Garden & Pet Company
|
|
$ |
20,897 |
|
|
$ |
0 |
|
|
$ |
20,897 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT
OF COMPREHENSIVE INCOME
|
|
|
|
As previously reported
|
|
|
Six Months Ended
March 29, 2014
Adjustments
|
|
|
As revised
|
|
Parent
|
|
$ |
(14,731 |
) |
|
$ |
22,918 |
|
|
$ |
8,187 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
1,180 |
|
|
|
1,180 |
|
Guarantor subsidiaries
|
|
|
23,408 |
|
|
|
175 |
|
|
|
23,583 |
|
Eliminations
|
|
|
0 |
|
|
|
(24,273 |
) |
|
|
(24,273 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
8,677 |
|
|
|
0 |
|
|
|
8,677 |
|
|
|
|
|
Parent
|
|
|
(14,644 |
) |
|
|
22,831 |
|
|
|
8,187 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
1,267 |
|
|
|
1,267 |
|
Guarantor subsidiaries
|
|
|
23,408 |
|
|
|
175 |
|
|
|
23,583 |
|
Eliminations
|
|
|
0 |
|
|
|
(24,273 |
) |
|
|
(24,273 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income (loss)
|
|
|
8,764 |
|
|
|
0 |
|
|
|
8,764 |
|
|
|
|
|
Parent
|
|
|
(15,134 |
) |
|
|
23,321 |
|
|
|
8,187 |
|
Non-guarantor subsidiaries
|
|
|
0 |
|
|
|
777 |
|
|
|
777 |
|
Guarantor subsidiaries
|
|
|
23,408 |
|
|
|
175 |
|
|
|
23,583 |
|
Eliminations
|
|
|
0 |
|
|
|
(24,273 |
) |
|
|
(24,273 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to Central
Garden & Pet Company
|
|
$ |
8,274 |
|
|
$ |
0 |
|
|
$ |
8,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET
March 29, 2014
|
|
|
|
As previously reported
|
|
|
Adjustments |
|
|
As revised |
|
Parent
|
|
$ |
288,510 |
|
|
$ |
(52,703 |
) |
|
$ |
235,807 |
|
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
47,509 |
|
|
|
47,509 |
|
Guarantor subsidiaries
|
|
|
532,265 |
|
|
|
(2,828 |
) |
|
|
529,437 |
|
Eliminations
|
|
|
(8,022 |
) |
|
|
8,022 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
812,753 |
|
|
|
0 |
|
|
|
812,753 |
|
|
|
|
|
Parent
|
|
|
1,165,145 |
|
|
|
163,241 |
|
|
|
1,328,386 |
|
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
53,706 |
|
|
|
53,706 |
|
Guarantor subsidiaries
|
|
|
878,709 |
|
|
|
255,450 |
|
|
|
1,134,159 |
|
Eliminations
|
|
|
(749,507 |
) |
|
|
(472,397 |
) |
|
|
(1,221,904 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
1,294,347 |
|
|
$ |
0 |
|
|
$ |
1,294,347 |
|
|
|
|
|
Parent
|
|
$ |
99,258 |
|
|
$ |
(17,398 |
) |
|
$ |
81,860 |
|
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
16,189 |
|
|
|
16,189 |
|
Guarantor subsidiaries
|
|
|
132,105 |
|
|
|
(6,813 |
) |
|
|
125,292 |
|
Eliminations
|
|
|
(8,022 |
) |
|
|
8,022 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
223,341 |
|
|
|
0 |
|
|
|
223,341 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent
|
|
|
485,504 |
|
|
|
(1,203 |
) |
|
|
484,301 |
|
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
(7,843 |
) |
|
|
(7,843 |
) |
Guarantor subsidiaries
|
|
|
741,485 |
|
|
|
214,902 |
|
|
|
956,387 |
|
Eliminations
|
|
|
(741,485 |
) |
|
|
(205,856 |
) |
|
|
(947,341 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
$ |
485,504 |
|
|
$ |
0 |
|
|
$ |
485,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS
Six Months Ended March 29, 2014
|
|
|
|
As
previously reported |
|
|
Adjustments |
|
|
As revised |
|
Parent
|
|
$ |
(16,606 |
) |
|
$ |
(18,895 |
) |
|
$ |
(35,501 |
) |
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
604 |
|
|
|
604 |
|
Guarantor subsidiaries
|
|
|
(20,029 |
) |
|
|
(2,583 |
) |
|
|
(22,612 |
) |
Eliminations
|
|
|
(23,408 |
) |
|
|
20,874 |
|
|
|
(2,534 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) operating activities
|
|
|
(60,043 |
) |
|
|
0 |
|
|
|
(60,043 |
) |
|
|
|
|
Parent
|
|
|
(49,249 |
) |
|
|
16,982 |
|
|
|
(32,267 |
) |
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
(473 |
) |
|
|
(473 |
) |
Guarantor subsidiaries
|
|
|
19,417 |
|
|
|
2,582 |
|
|
|
21,999 |
|
Eliminations
|
|
|
23,408 |
|
|
|
(19,091 |
) |
|
|
4,317 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) investing activities
|
|
|
(6,424 |
) |
|
|
0 |
|
|
|
(6,424 |
) |
|
|
|
|
Parent
|
|
|
68,034 |
|
|
|
2,009 |
|
|
|
70,043 |
|
Non-Guarantor subsidiaries
|
|
|
0 |
|
|
|
(226 |
) |
|
|
(226 |
) |
Guarantor subsidiaries
|
|
|
(99 |
) |
|
|
0 |
|
|
|
(99 |
) |
Eliminations
|
|
|
0 |
|
|
|
(1,783 |
) |
|
|
(1,783 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by (used in) financing activities
|
|
$ |
67,935 |
|
|
$ |
0 |
|
|
$ |
67,935 |
|
|