Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)
|
12 Months Ended |
Sep. 30, 2017 |
|---|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Consolidating Condensed Statement of Operations |
|
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|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
Fiscal Year Ended September 30, 2017 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
$ |
685,998 |
|
|
$ |
79,681 |
|
|
$ |
1,370,335 |
|
|
$ |
(81,536 |
) |
|
$ |
2,054,478 |
|
Cost of goods sold and occupancy |
534,682 |
|
|
60,788 |
|
|
901,959 |
|
|
(75,759 |
) |
|
1,421,670 |
|
Gross profit |
151,316 |
|
|
18,893 |
|
|
468,376 |
|
|
(5,777 |
) |
|
632,808 |
|
Selling, general and administrative expenses |
154,267 |
|
|
18,416 |
|
|
309,790 |
|
|
(5,777 |
) |
|
476,696 |
|
Operating income (loss) |
(2,951 |
) |
|
477 |
|
|
158,586 |
|
|
— |
|
|
156,112 |
|
Interest expense |
(28,051 |
) |
|
(294 |
) |
|
136 |
|
|
— |
|
|
(28,209 |
) |
Interest income |
146 |
|
|
1 |
|
|
— |
|
|
— |
|
|
147 |
|
Other income (expense) |
(2,379 |
) |
|
844 |
|
|
(86 |
) |
|
— |
|
|
(1,621 |
) |
Income (loss) before taxes and equity in earnings of affiliates |
(33,235 |
) |
|
1,028 |
|
|
158,636 |
|
|
— |
|
|
126,429 |
|
Income tax expense (benefit) |
(11,981 |
) |
|
1,466 |
|
|
57,214 |
|
|
— |
|
|
46,699 |
|
Equity in earnings of affiliates |
100,082 |
|
|
— |
|
|
420 |
|
|
(100,502 |
) |
|
— |
|
Net income (loss) including noncontrolling interest |
78,828 |
|
|
(438 |
) |
|
101,842 |
|
|
(100,502 |
) |
|
79,730 |
|
Noncontrolling interest |
— |
|
|
902 |
|
|
— |
|
|
— |
|
|
902 |
|
Net income (loss) attributable to Central Garden & Pet Company |
$ |
78,828 |
|
|
$ |
(1,340 |
) |
|
$ |
101,842 |
|
|
$ |
(100,502 |
) |
|
$ |
78,828 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
Fiscal Year Ended September 24, 2016 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
$ |
587,579 |
|
|
$ |
82,567 |
|
|
$ |
1,238,339 |
|
|
$ |
(79,468 |
) |
|
$ |
1,829,017 |
|
Cost of goods sold and occupancy |
466,543 |
|
|
62,727 |
|
|
820,573 |
|
|
(73,876 |
) |
|
1,275,967 |
|
Gross profit |
121,036 |
|
|
19,840 |
|
|
417,766 |
|
|
(5,592 |
) |
|
553,050 |
|
Selling, general and administrative expenses |
138,556 |
|
|
18,077 |
|
|
272,651 |
|
|
(5,592 |
) |
|
423,692 |
|
Operating income (loss) |
(17,520 |
) |
|
1,763 |
|
|
145,115 |
|
|
— |
|
|
129,358 |
|
Interest expense |
(42,700 |
) |
|
(266 |
) |
|
119 |
|
|
— |
|
|
(42,847 |
) |
Interest income |
136 |
|
|
4 |
|
|
— |
|
|
— |
|
|
140 |
|
Other income (expense) |
(16,925 |
) |
|
(113 |
) |
|
25 |
|
|
— |
|
|
(17,013 |
) |
Income (loss) before taxes and equity in earnings of affiliates |
(77,009 |
) |
|
1,388 |
|
|
145,259 |
|
|
— |
|
|
69,638 |
|
Income tax expense (benefit) |
(26,422 |
) |
|
923 |
|
|
49,552 |
|
|
— |
|
|
24,053 |
|
Equity in earnings of affiliates |
95,101 |
|
|
— |
|
|
624 |
|
|
(95,725 |
) |
|
— |
|
Net income including noncontrolling interest |
44,514 |
|
|
465 |
|
|
96,331 |
|
|
(95,725 |
) |
|
45,585 |
|
Noncontrolling interest |
— |
|
|
1,071 |
|
|
— |
|
|
— |
|
|
1,071 |
|
Net income (loss) attributable to Central Garden & Pet Company |
$ |
44,514 |
|
|
$ |
(606 |
) |
|
$ |
96,331 |
|
|
$ |
(95,725 |
) |
|
$ |
44,514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
Fiscal Year Ended September 26, 2015 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
$ |
484,310 |
|
|
$ |
100,127 |
|
|
$ |
1,146,821 |
|
|
$ |
(80,521 |
) |
|
$ |
1,650,737 |
|
Cost of goods sold and occupancy |
379,235 |
|
|
76,597 |
|
|
781,797 |
|
|
(74,944 |
) |
|
1,162,685 |
|
Gross profit |
105,075 |
|
|
23,530 |
|
|
365,024 |
|
|
(5,577 |
) |
|
488,052 |
|
Selling, general and administrative expenses |
124,613 |
|
|
18,329 |
|
|
259,252 |
|
|
(5,577 |
) |
|
396,617 |
|
Operating income (loss) |
(19,538 |
) |
|
5,201 |
|
|
105,772 |
|
|
— |
|
|
91,435 |
|
Interest expense |
(39,893 |
) |
|
(268 |
) |
|
134 |
|
|
— |
|
|
(40,027 |
) |
Interest income |
126 |
|
|
3 |
|
|
— |
|
|
— |
|
|
129 |
|
Other income (expense) |
(372 |
) |
|
407 |
|
|
(22 |
) |
|
— |
|
|
13 |
|
Income (loss) before taxes and equity in earnings of affiliates |
(59,677 |
) |
|
5,343 |
|
|
105,884 |
|
|
— |
|
|
51,550 |
|
Income tax expense (benefit) |
(21,500 |
) |
|
2,089 |
|
|
37,946 |
|
|
— |
|
|
18,535 |
|
Equity in earnings of affiliates |
70,148 |
|
|
— |
|
|
2,445 |
|
|
(72,593 |
) |
|
— |
|
Net income including noncontrolling interest |
31,971 |
|
|
3,254 |
|
|
70,383 |
|
|
(72,593 |
) |
|
33,015 |
|
Noncontrolling interest |
— |
|
|
1,044 |
|
|
— |
|
|
— |
|
|
1,044 |
|
Net income attributable to Central Garden & Pet Company |
$ |
31,971 |
|
|
$ |
2,210 |
|
|
$ |
70,383 |
|
|
$ |
(72,593 |
) |
|
$ |
31,971 |
|
|
| Consolidating Condensed Statements of Comprehensive Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME
|
|
Fiscal Year Ended September 30, 2017 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income (loss) |
$ |
78,828 |
|
|
$ |
(438 |
) |
|
$ |
101,842 |
|
|
$ |
(100,502 |
) |
|
$ |
79,730 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Foreign currency translation |
343 |
|
|
169 |
|
|
108 |
|
|
(277 |
) |
|
343 |
|
Total comprehensive income (loss) |
79,171 |
|
|
(269 |
) |
|
101,950 |
|
|
(100,779 |
) |
|
80,073 |
|
Comprehensive income attributable to noncontrolling interests |
— |
|
|
902 |
|
|
— |
|
|
— |
|
|
902 |
|
Comprehensive income (loss) attributable to Central Garden & Pet Company |
$ |
79,171 |
|
|
$ |
(1,171 |
) |
|
$ |
101,950 |
|
|
$ |
(100,779 |
) |
|
$ |
79,171 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME
|
|
Fiscal Year Ended September 24, 2016 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income |
$ |
44,514 |
|
|
$ |
465 |
|
|
$ |
96,331 |
|
|
$ |
(95,725 |
) |
|
$ |
45,585 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
Foreign currency translation |
(1,458 |
) |
|
(1,132 |
) |
|
8 |
|
|
1,124 |
|
|
(1,458 |
) |
Total comprehensive income (loss) |
43,056 |
|
|
(667 |
) |
|
96,339 |
|
|
(94,601 |
) |
|
44,127 |
|
Comprehensive income attributable to noncontrolling interests |
— |
|
|
1,071 |
|
|
— |
|
|
— |
|
|
1,071 |
|
Comprehensive income (loss) attributable to Central Garden & Pet Company |
$ |
43,056 |
|
|
$ |
(1,738 |
) |
|
$ |
96,339 |
|
|
$ |
(94,601 |
) |
|
$ |
43,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME
|
|
Fiscal Year Ended September 26, 2015 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income |
$ |
31,971 |
|
|
$ |
3,254 |
|
|
$ |
70,383 |
|
|
$ |
(72,593 |
) |
|
$ |
33,015 |
|
Other comprehensive loss: |
|
|
|
|
|
|
|
|
|
Unrealized loss on securities |
(10 |
) |
|
— |
|
|
|
|
|
|
|
|
(10 |
) |
Reclassification of realized loss on securities included in net income |
20 |
|
|
— |
|
|
— |
|
|
— |
|
|
20 |
|
Foreign currency translation |
(1,078 |
) |
|
(537 |
) |
|
(380 |
) |
|
917 |
|
|
(1,078 |
) |
Total comprehensive income |
30,903 |
|
|
2,717 |
|
|
70,003 |
|
|
(71,676 |
) |
|
31,947 |
|
Comprehensive income attributable to noncontrolling interests |
— |
|
|
1,044 |
|
|
— |
|
|
— |
|
|
1,044 |
|
Comprehensive income attributable to Central Garden & Pet Company |
$ |
30,903 |
|
|
$ |
1,673 |
|
|
$ |
70,003 |
|
|
$ |
(71,676 |
) |
|
$ |
30,903 |
|
|
| Consolidating Condensed Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
September 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
19,238 |
|
|
$ |
11,693 |
|
|
$ |
1,466 |
|
|
$ |
— |
|
|
$ |
32,397 |
|
Restricted cash |
|
12,645 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,645 |
|
Accounts receivable, net |
|
78,692 |
|
|
5,586 |
|
|
153,590 |
|
|
— |
|
|
237,868 |
|
Inventories |
|
125,797 |
|
|
9,493 |
|
|
246,811 |
|
|
— |
|
|
382,101 |
|
Prepaid expenses and other assets |
|
6,059 |
|
|
811 |
|
|
11,175 |
|
|
— |
|
|
18,045 |
|
Total current assets |
|
242,431 |
|
|
27,583 |
|
|
413,042 |
|
|
— |
|
|
683,056 |
|
Land, buildings, improvements and equipment, net |
|
38,170 |
|
|
4,225 |
|
|
138,518 |
|
|
— |
|
|
180,913 |
|
Goodwill |
|
15,058 |
|
|
— |
|
|
241,217 |
|
|
— |
|
|
256,275 |
|
Other long term assets |
|
61,715 |
|
|
2,376 |
|
|
146,372 |
|
|
(23,801 |
) |
|
186,662 |
|
Intercompany receivable |
|
36,606 |
|
|
— |
|
|
662,137 |
|
|
(698,743 |
) |
|
— |
|
Investment in subsidiaries |
|
1,383,633 |
|
|
— |
|
|
— |
|
|
(1,383,633 |
) |
|
— |
|
Total |
|
$ |
1,777,613 |
|
|
$ |
34,184 |
|
|
$ |
1,601,286 |
|
|
$ |
(2,106,177 |
) |
|
$ |
1,306,906 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
36,760 |
|
|
$ |
3,076 |
|
|
$ |
63,447 |
|
|
$ |
— |
|
|
$ |
103,283 |
|
Accrued expenses and other liabilities |
|
54,909 |
|
|
2,391 |
|
|
59,249 |
|
|
— |
|
|
116,549 |
|
Current portion of long term debt |
|
— |
|
|
— |
|
|
375 |
|
|
— |
|
|
375 |
|
Total current liabilities |
|
91,669 |
|
|
5,467 |
|
|
123,071 |
|
|
— |
|
|
220,207 |
|
Long-term debt |
|
395,160 |
|
|
— |
|
|
118 |
|
|
— |
|
|
395,278 |
|
Intercompany payable |
|
647,409 |
|
|
51,334 |
|
|
— |
|
|
(698,743 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
19,782 |
|
|
(19,782 |
) |
|
— |
|
Other long-term obligations |
|
7,689 |
|
|
— |
|
|
70,391 |
|
|
(23,801 |
) |
|
54,279 |
|
Shareholders’ equity attributable to Central Garden & Pet |
|
635,686 |
|
|
(24,073 |
) |
|
1,387,924 |
|
|
(1,363,851 |
) |
|
635,686 |
|
Noncontrolling interest |
|
— |
|
|
1,456 |
|
|
— |
|
|
— |
|
|
1,456 |
|
Total equity |
|
635,686 |
|
|
(22,617 |
) |
|
1,387,924 |
|
|
(1,363,851 |
) |
|
637,142 |
|
Total |
|
$ |
1,777,613 |
|
|
$ |
34,184 |
|
|
$ |
1,601,286 |
|
|
$ |
(2,106,177 |
) |
|
$ |
1,306,906 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
September 24, 2016 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
Cash and cash equivalents |
$ |
82,158 |
|
|
$ |
9,695 |
|
|
$ |
1,129 |
|
|
$ |
— |
|
|
$ |
92,982 |
|
Restricted cash |
10,910 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,910 |
|
Accounts receivable, net |
59,617 |
|
|
5,156 |
|
|
136,378 |
|
|
— |
|
|
201,151 |
|
Inventories |
113,317 |
|
|
11,752 |
|
|
236,935 |
|
|
— |
|
|
362,004 |
|
Prepaid expenses and other assets |
5,700 |
|
|
800 |
|
|
9,749 |
|
|
— |
|
|
16,249 |
|
Total current assets |
271,702 |
|
|
27,403 |
|
|
384,191 |
|
|
— |
|
|
683,296 |
|
Land, buildings, improvements and equipment, net |
41,083 |
|
|
3,897 |
|
|
113,244 |
|
|
— |
|
|
158,224 |
|
Goodwill |
15,058 |
|
|
— |
|
|
216,327 |
|
|
— |
|
|
231,385 |
|
Other long term assets |
45,832 |
|
|
2,998 |
|
|
85,701 |
|
|
(26,753 |
) |
|
107,778 |
|
Intercompany receivable |
32,778 |
|
|
— |
|
|
567,374 |
|
|
(600,152 |
) |
|
— |
|
Investment in subsidiaries |
1,176,990 |
|
|
— |
|
|
— |
|
|
(1,176,990 |
) |
|
— |
|
Total |
$ |
1,583,443 |
|
|
$ |
34,298 |
|
|
$ |
1,366,837 |
|
|
$ |
(1,803,895 |
) |
|
$ |
1,180,683 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
34,096 |
|
|
$ |
3,953 |
|
|
$ |
64,364 |
|
|
$ |
— |
|
|
$ |
102,413 |
|
Accrued expenses and other liabilities |
47,861 |
|
|
1,411 |
|
|
50,071 |
|
|
— |
|
|
99,343 |
|
Current portion of long term debt |
88 |
|
|
— |
|
|
375 |
|
|
— |
|
|
463 |
|
Total current liabilities |
82,045 |
|
|
5,364 |
|
|
114,810 |
|
|
— |
|
|
202,219 |
|
Long-term debt |
394,364 |
|
|
— |
|
|
442 |
|
|
— |
|
|
394,806 |
|
Intercompany payable |
553,964 |
|
|
46,188 |
|
|
— |
|
|
(600,152 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
— |
|
|
— |
|
|
16,126 |
|
|
(16,126 |
) |
|
— |
|
Other long-term obligations |
56 |
|
|
— |
|
|
55,768 |
|
|
(26,753 |
) |
|
29,071 |
|
Shareholders’ equity attributable to Central Garden & Pet |
553,014 |
|
|
(18,827 |
) |
|
1,179,691 |
|
|
(1,160,864 |
) |
|
553,014 |
|
Noncontrolling interest |
— |
|
|
1,573 |
|
|
— |
|
|
— |
|
|
1,573 |
|
Total equity |
553,014 |
|
|
(17,254 |
) |
|
1,179,691 |
|
|
(1,160,864 |
) |
|
554,587 |
|
Total |
$ |
1,583,443 |
|
|
$ |
34,298 |
|
|
$ |
1,366,837 |
|
|
$ |
(1,803,895 |
) |
|
$ |
1,180,683 |
|
|
| Consolidating Condensed Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
Fiscal Year Ended September 30, 2017 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
$ |
(7,418 |
) |
|
$ |
2,846 |
|
|
$ |
122,957 |
|
|
$ |
(4,076 |
) |
|
$ |
114,309 |
|
Additions to property, plant and equipment |
(9,419 |
) |
|
(805 |
) |
|
(34,435 |
) |
|
— |
|
|
(44,659 |
) |
Businesses acquired, net of cash acquired, and investments in joint ventures |
(103,880 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(103,880 |
) |
Proceeds from asset sales |
229 |
|
|
— |
|
|
8,318 |
|
|
— |
|
|
8,547 |
|
Escrow deposit for acquisition-related contingent consideration |
(6,000 |
) |
|
|
|
|
|
|
|
(6,000 |
) |
Change in restricted cash and cash equivalents |
(1,735 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,735 |
) |
Investment in equity method investee |
(12,495 |
) |
|
|
|
|
|
|
|
(12,495 |
) |
Other investing activities |
(4,355 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,355 |
) |
Intercompany investing activities |
(3,828 |
) |
|
— |
|
|
(94,763 |
) |
|
98,591 |
|
|
— |
|
Net cash used by investing activities |
(141,483 |
) |
|
(805 |
) |
|
(120,880 |
) |
|
98,591 |
|
|
(164,577 |
) |
Repayments on revolving line of credit |
(552,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(552,000 |
) |
Borrowings on revolving line of credit |
552,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
552,000 |
|
Repayments of long-term debt |
(89 |
) |
|
— |
|
|
(374 |
) |
|
— |
|
|
(463 |
) |
Excess tax benefits from stock-based awards |
19,946 |
|
|
— |
|
|
— |
|
|
— |
|
|
19,946 |
|
Repurchase of common stock |
(27,556 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(27,556 |
) |
Payments of contingent consideration |
— |
|
|
— |
|
|
(1,300 |
) |
|
— |
|
|
(1,300 |
) |
Distribution to parent |
— |
|
|
(4,076 |
) |
|
— |
|
|
4,076 |
|
|
— |
|
Distribution to noncontrolling interest |
— |
|
|
(1,019 |
) |
|
— |
|
|
— |
|
|
(1,019 |
) |
Intercompany financing activities |
93,445 |
|
|
5,146 |
|
|
— |
|
|
(98,591 |
) |
|
— |
|
Net cash provided (used) by financing activities |
85,746 |
|
|
51 |
|
|
(1,674 |
) |
|
(94,515 |
) |
|
(10,392 |
) |
Effect of exchange rates on cash |
235 |
|
|
(94 |
) |
|
(66 |
) |
|
— |
|
|
75 |
|
Net increase (decrease) in cash and cash equivalents |
(62,920 |
) |
|
1,998 |
|
|
337 |
|
|
— |
|
|
(60,585 |
) |
Cash and cash equivalents at beginning of year |
82,158 |
|
|
9,695 |
|
|
1,129 |
|
|
— |
|
|
92,982 |
|
Cash and cash equivalents at end of year |
$ |
19,238 |
|
|
$ |
11,693 |
|
|
$ |
1,466 |
|
|
$ |
— |
|
|
$ |
32,397 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
Fiscal Year Ended September 24, 2016 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash (used) provided by operating activities |
$ |
3,906 |
|
|
$ |
2,654 |
|
|
$ |
149,749 |
|
|
$ |
(4,883 |
) |
|
$ |
151,426 |
|
Additions to property, plant and equipment |
(4,513 |
) |
|
(717 |
) |
|
(22,392 |
) |
|
— |
|
|
(27,622 |
) |
Payments to acquire companies, net of expenses |
(69,001 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(69,001 |
) |
Proceeds from asset sales |
— |
|
|
— |
|
|
3,911 |
|
|
— |
|
|
3,911 |
|
Change in restricted cash and cash equivalents |
2,247 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,247 |
|
Other investing activities |
(730 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(730 |
) |
Intercompany investing activities |
(83 |
) |
|
— |
|
|
(129,708 |
) |
|
129,791 |
|
|
— |
|
Net cash used by investing activities |
(72,080 |
) |
|
(717 |
) |
|
(148,189 |
) |
|
129,791 |
|
|
(91,195 |
) |
Repayments on revolving line of credit |
(419,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(419,000 |
) |
Borrowings on revolving line of credit |
419,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
419,000 |
|
Repayments of long-term debt |
(400,286 |
) |
|
— |
|
|
(21 |
) |
|
— |
|
|
(400,307 |
) |
Issuance of long-term debt |
400,000 |
|
|
|
|
|
|
|
|
|
|
|
400,000 |
|
Proceeds from issuance of common stock |
324 |
|
|
— |
|
|
— |
|
|
— |
|
|
324 |
|
Excess tax benefits from stock-based awards |
6,869 |
|
|
— |
|
|
— |
|
|
— |
|
|
6,869 |
|
Repurchase of common stock |
(10,873 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(10,873 |
) |
Payments of contingent consideration |
|
|
|
|
|
|
(2,026 |
) |
|
|
|
|
(2,026 |
) |
Payment of deferred financing costs |
(7,560 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(7,560 |
) |
Distribution to parent |
— |
|
|
(4,883 |
) |
|
— |
|
|
4,883 |
|
|
— |
|
Distribution to noncontrolling interest |
— |
|
|
(592 |
) |
|
— |
|
|
— |
|
|
(592 |
) |
Intercompany financing activities |
127,044 |
|
|
2,747 |
|
|
— |
|
|
(129,791 |
) |
|
— |
|
Net cash provided (used) by financing activities |
115,518 |
|
|
(2,728 |
) |
|
(2,047 |
) |
|
(124,908 |
) |
|
(14,165 |
) |
Effect of exchange rates on cash |
(1,466 |
) |
|
464 |
|
|
334 |
|
|
— |
|
|
(668 |
) |
Net increase (decrease) in cash and cash equivalents |
45,878 |
|
|
(327 |
) |
|
(153 |
) |
|
— |
|
|
45,398 |
|
Cash and cash equivalents at beginning of year |
36,280 |
|
|
10,022 |
|
|
1,282 |
|
|
— |
|
|
47,584 |
|
Cash and cash equivalents at end of year |
$ |
82,158 |
|
|
$ |
9,695 |
|
|
$ |
1,129 |
|
|
$ |
— |
|
|
$ |
92,982 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
Fiscal Year Ended September 26, 2015 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash (used) provided by operating activities |
$ |
(16,823 |
) |
|
$ |
7,372 |
|
|
$ |
103,619 |
|
|
$ |
(6,719 |
) |
|
$ |
87,449 |
|
Additions to property, plant and equipment |
(2,721 |
) |
|
(405 |
) |
|
(18,904 |
) |
|
— |
|
|
(22,030 |
) |
Businesses acquired, net of cash acquired |
(38,384 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(38,384 |
) |
Change in restricted cash and cash equivalents |
1,126 |
|
|
— |
|
|
— |
|
|
— |
|
|
1,126 |
|
Maturities of short term investments |
9,997 |
|
|
— |
|
|
— |
|
|
— |
|
|
9,997 |
|
Investment in short term investments |
(17 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(17 |
) |
Other investing activities |
(546 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(546 |
) |
Intercompany investing activities |
(15,789 |
) |
|
— |
|
|
(85,963 |
) |
|
101,752 |
|
|
— |
|
Net cash used by investing activities |
(46,334 |
) |
|
(405 |
) |
|
(104,867 |
) |
|
101,752 |
|
|
(49,854 |
) |
Repayments on revolving line of credit |
(312,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(312,000 |
) |
Borrowings on revolving line of credit |
312,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
312,000 |
|
Repayments of long-term debt |
(50,262 |
) |
|
— |
|
|
(27 |
) |
|
— |
|
|
(50,289 |
) |
Proceeds from issuance of common stock |
200 |
|
|
— |
|
|
— |
|
|
— |
|
|
200 |
|
Excess tax benefits from stock-based awards |
2,154 |
|
|
— |
|
|
— |
|
|
— |
|
|
2,154 |
|
Repurchase of common stock |
(18,497 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(18,497 |
) |
Payment of deferred financing costs |
(258 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(258 |
) |
Distribution to parent |
— |
|
|
(6,719 |
) |
|
— |
|
|
6,719 |
|
|
— |
|
Distribution to noncontrolling interest |
— |
|
|
(1,680 |
) |
|
— |
|
|
— |
|
|
(1,680 |
) |
Intercompany financing activities |
103,326 |
|
|
(1,574 |
) |
|
— |
|
|
(101,752 |
) |
|
— |
|
Net cash provided (used) by financing activities |
36,663 |
|
|
(9,973 |
) |
|
(27 |
) |
|
(95,033 |
) |
|
(68,370 |
) |
Effect of exchange rates on cash |
(697 |
) |
|
222 |
|
|
158 |
|
|
— |
|
|
(317 |
) |
Net increase (decrease) in cash and cash equivalents |
(27,191 |
) |
|
(2,784 |
) |
|
(1,117 |
) |
|
— |
|
|
(31,092 |
) |
Cash and cash equivalents at beginning of year |
63,471 |
|
|
12,806 |
|
|
2,399 |
|
|
— |
|
|
78,676 |
|
Cash and cash equivalents at end of year |
$ |
36,280 |
|
|
$ |
10,022 |
|
|
$ |
1,282 |
|
|
$ |
— |
|
|
$ |
47,584 |
|
|