Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
 9 Months Ended
Jun. 26, 2021
Segment Reporting [Abstract]  
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 the Pet segment and the Garden segment and are presented in the table below.
During the first quarter of fiscal year 2021, the Company began reporting the results of its outdoor cushion operations in the Pet segment as a result of a change in internal management reporting lines due to potential synergies in sourcing, manufacturing and innovation and to be consistent with the reporting of financial information used to assess performance and allocate resources. These operations were previously reported in the Garden segment and are now managed and reported in the Pet segment. All prior period segment disclosures have been recast to reflect this segment change.
 
  Three Months Ended Nine Months Ended
  June 26, 2021 June 27, 2020 June 26, 2021 June 27, 2020
(in thousands)
Net sales:
Pet segment $ 507,788  $ 461,567  $ 1,436,170  $ 1,233,686 
Garden segment 529,287  371,916  $ 1,128,387  785,854 
Total net sales $ 1,037,075  $ 833,483  $ 2,564,557  $ 2,019,540 
Operating Income
Pet segment 71,021  63,606  176,604  135,819 
Garden segment 67,037  64,941  137,650  101,219 
Corporate (24,817) (23,907) (69,363) (64,228)
Total operating income 113,241  104,640  244,891  172,810 
Interest expense - net (13,086) (11,471) (44,006) (29,444)
Other income (expense) (1,086) (3,541) 370  (4,215)
Income tax expense 22,315  20,291  45,260  31,211 
Income including noncontrolling interest 76,754  69,337  155,995  107,940 
Net income attributable to noncontrolling interest 568  537  1,242  853 
Net income attributable to Central Garden & Pet Company $ 76,186  $ 68,800  $ 154,753  $ 107,087 
Depreciation and amortization:
Pet segment $ 8,960  $ 9,249  $ 26,927  $ 27,491 
Garden segment 10,808  2,663  22,250  7,971 
Corporate 1,222  1,371  3,582  4,136 
Total depreciation and amortization $ 20,990  $ 13,283  $ 52,759  $ 39,598 
 
June 26, 2021 June 27, 2020 September 26, 2020
(in thousands)
Assets:
Pet segment $ 976,189  $ 894,454  $ 877,901 
Garden segment 1,328,664  551,741  481,401 
Corporate 818,651  817,774  980,062 
Total assets $ 3,123,504  $ 2,263,969  $ 2,339,364 
Goodwill (included in corporate assets above):
Pet segment $ 277,067  $ 276,966  $ 277,067 
Garden segment 12,888  12,888  12,888 
Total goodwill $ 289,955  $ 289,854  $ 289,955 
The tables below presents the Company's disaggregated revenues by segment:
Three Months Ended June 26, 2021 Nine Months Ended June 26, 2021
Pet Segment Garden Segment Total Pet Segment Garden Segment Total
(in millions) (in millions)
Other pet products $ 277.5  $ —  $ 277.5  $ 719.4  $ —  $ 719.4 
Dog and cat products 131.9  —  131.9  420.6  —  420.6 
Other manufacturers' products 98.4  126.0  224.4  296.2  274.9  571.1 
Garden controls and fertilizer products —  92.3  92.3  —  253.1  253.1 
Other garden supplies —  311.0  311.0  —  600.4  600.4 
     Total $ 507.8  $ 529.3  $ 1,037.1  $ 1,436.2  $ 1,128.4  $ 2,564.6 
Three Months Ended June 27, 2020 Nine Months Ended June 27, 2020
Pet Segment Garden Segment Total Pet Segment Garden Segment Total
(in millions) (in millions)
Other pet products $ 254.6  $ —  $ 254.6  $ 613.9  $ —  $ 613.9 
Dog and cat products 117.0  —  117.0  358.8  —  358.8 
Other manufacturers' products 90.0  90.1  180.1  261.0  182.2  443.2 
Garden controls and fertilizer products —  100.3  100.3  —  234.2  234.2 
Other garden supplies —  181.5  181.5  —  369.4  369.4 
     Total $ 461.6  $ 371.9  $ 833.5  $ 1,233.7  $ 785.9  $ 2,019.5