Segment Information |
Segment Information
Management has determined that the Company has two operating segments which are also reportable segments based on the level at which the Chief Operating Decision Maker reviews the results of operations to make decisions regarding performance assessment and resource allocation. These operating segments are Pet segment and Garden segment and are presented in the table below (in thousands).
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Three Months Ended |
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Nine Months Ended |
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June 25, 2016 |
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June 27, 2015 |
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June 25, 2016 |
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June 27, 2015 |
Net sales: |
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Pet segment |
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$ |
287,213 |
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$ |
238,126 |
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$ |
811,203 |
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$ |
658,931 |
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Garden segment |
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227,331 |
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221,320 |
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604,402 |
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|
605,437 |
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Total net sales |
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$ |
514,544 |
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$ |
459,446 |
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$ |
1,415,605 |
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$ |
1,264,368 |
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Income (loss) from operations: |
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Pet segment |
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38,759 |
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32,939 |
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97,363 |
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80,565 |
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Garden segment |
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26,452 |
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23,458 |
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67,605 |
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59,248 |
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Corporate |
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(17,026 |
) |
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(17,404 |
) |
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(48,607 |
) |
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(49,711 |
) |
Total income from operations |
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48,185 |
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38,993 |
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116,361 |
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90,102 |
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Interest expense - net |
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(6,921 |
) |
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(8,971 |
) |
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(36,131 |
) |
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(31,261 |
) |
Other income (expense) |
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318 |
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585 |
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(243 |
) |
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96 |
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Income tax expense |
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14,916 |
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11,484 |
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28,509 |
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21,527 |
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Income including noncontrolling interest |
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26,666 |
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19,123 |
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51,478 |
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37,410 |
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Net income attributable to noncontrolling interest |
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636 |
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323 |
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1,353 |
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1,070 |
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Net income attributable to Central Garden & Pet Company |
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$ |
26,030 |
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$ |
18,800 |
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$ |
50,125 |
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$ |
36,340 |
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Depreciation and amortization: |
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Pet segment |
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$ |
6,700 |
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3,891 |
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$ |
16,120 |
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$ |
11,710 |
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Garden segment |
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1,542 |
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1,465 |
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4,586 |
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4,514 |
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Corporate |
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2,842 |
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2,906 |
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8,580 |
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8,852 |
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Total depreciation and amortization |
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$ |
11,084 |
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$ |
8,262 |
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$ |
29,286 |
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$ |
25,076 |
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June 25, 2016 |
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June 27, 2015 |
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September 26, 2015 |
Assets: |
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Pet segment |
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$ |
523,281 |
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$ |
450,198 |
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$ |
465,171 |
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Garden segment |
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327,768 |
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352,147 |
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310,981 |
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Corporate |
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365,858 |
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353,392 |
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355,445 |
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Total assets |
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$ |
1,216,907 |
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$ |
1,155,737 |
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$ |
1,131,597 |
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Goodwill (included in corporate assets above): |
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Pet segment |
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$ |
229,713 |
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$ |
209,089 |
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$ |
209,089 |
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Garden segment |
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3,298 |
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— |
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— |
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Total goodwill |
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$ |
233,011 |
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$ |
209,089 |
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$ |
209,089 |
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