| Financial Information Relating to Company's Business Segments |
Financial information relating to the Company’s business segments for each of the three most recent fiscal years is presented in the table below (in thousands):
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Fiscal Year Ended |
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September 30, 2017 |
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September 24, 2016 |
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September 26, 2015 |
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Net sales: |
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Pet segment |
$ |
1,246,354 |
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$ |
1,081,853 |
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$ |
894,549 |
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Garden segment |
808,124 |
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|
747,164 |
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|
756,188 |
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Total |
$ |
2,054,478 |
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$ |
1,829,017 |
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$ |
1,650,737 |
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Operating income (loss): |
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Pet segment |
$ |
131,622 |
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$ |
119,930 |
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(1) |
$ |
98,798 |
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(1) |
Garden segment |
87,298 |
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|
70,317 |
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|
60,145 |
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Corporate |
(62,808 |
) |
|
(60,889 |
) |
|
(67,508 |
) |
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Total |
156,112 |
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|
129,358 |
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|
91,435 |
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Interest expense |
(28,209 |
) |
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(42,847 |
) |
|
(40,027 |
) |
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Interest income |
147 |
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|
140 |
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|
129 |
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Other income (expense) |
(1,621 |
) |
|
(17,013 |
) |
(2) |
13 |
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Income (loss) before income taxes and noncontrolling interest |
126,429 |
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|
69,638 |
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|
51,550 |
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Income tax expense (benefit) |
46,699 |
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|
24,053 |
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|
18,535 |
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Net income (loss) including noncontrolling interest |
79,730 |
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|
45,585 |
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|
33,015 |
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Net income attributable to noncontrolling interest |
902 |
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|
1,071 |
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|
1,044 |
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Net income (loss) attributable to Central Garden & Pet Company |
$ |
78,828 |
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$ |
44,514 |
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$ |
31,971 |
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Assets: |
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Pet segment |
$ |
612,337 |
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$ |
508,879 |
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$ |
465,171 |
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Garden segment |
311,026 |
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|
304,901 |
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|
310,981 |
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Corporate and eliminations |
383,543 |
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366,903 |
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|
324,960 |
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Total |
$ |
1,306,906 |
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$ |
1,180,683 |
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$ |
1,101,112 |
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Depreciation and amortization: |
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Pet segment |
$ |
26,044 |
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$ |
22,556 |
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$ |
15,885 |
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Garden segment |
6,267 |
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|
6,098 |
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|
5,988 |
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Corporate |
10,408 |
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|
11,347 |
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|
11,830 |
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Total |
$ |
42,719 |
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$ |
40,001 |
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$ |
33,703 |
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Expenditures for long-lived assets: |
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Pet segment |
$ |
38,970 |
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$ |
18,939 |
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$ |
17,060 |
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Garden segment |
4,948 |
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|
4,750 |
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|
2,432 |
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Corporate |
741 |
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|
3,933 |
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|
2,538 |
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Total |
$ |
44,659 |
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$ |
27,622 |
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$ |
22,030 |
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Noncontrolling interest is associated with the Garden segment.
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(1) |
Includes a $1.8 million impairment charge in fiscal 2016 and a $7.3 million impairment charge in fiscal 2015 to indefinite-lived intangible assets as a result of increased competition and declining sales volume.
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(2) |
Includes a $16.6 million impairment charge related to two equity method investments.
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