Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.22.1
Segment Information
 6 Months Ended
Mar. 26, 2022
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.

 
  Three Months Ended Six Months Ended
  March 26, 2022 March 27, 2021 March 26, 2022 March 27, 2021
(in thousands)
Net sales:
Pet segment $ 497,640  $ 491,972  $ 933,642  $ 928,382 
Garden segment 456,730  443,280  $ 682,126  599,100 
Total net sales $ 954,370  $ 935,252  $ 1,615,768  $ 1,527,482 
Operating Income
Pet segment 60,645  62,058  105,896  105,583 
Garden segment 70,511  65,962  76,568  70,613 
Corporate (24,311) (23,410) (49,405) (44,546)
Total operating income 106,845  104,610  133,059  131,650 
Interest expense - net (14,702) (10,151) (29,110) (30,920)
Other income (expense) (369) 704  (578) 1,456 
Income tax expense 21,488  21,564  23,889  22,945 
Income including noncontrolling interest 70,286  73,599  79,482  79,241 
Net income attributable to noncontrolling interest 573  645  760  674 
Net income attributable to Central Garden & Pet Company $ 69,713  $ 72,954  $ 78,722  $ 78,567 
Depreciation and amortization:
Pet segment $ 9,539  $ 8,882  $ 19,088  $ 17,967 
Garden segment 7,719  8,804  17,339  11,442 
Corporate 989  1,168  2,022  2,360 
Total depreciation and amortization $ 18,247  $ 18,854  $ 38,449  $ 31,769 
 
March 26, 2022 March 27, 2021 September 25, 2021
(in thousands)
Assets:
Pet segment $ 1,101,814  $ 980,769  $ 966,437 
Garden segment 1,634,158  1,511,136  1,313,899 
Corporate 613,286  355,197  836,344 
Total assets $ 3,349,258  $ 2,847,102  $ 3,116,680 
Goodwill (included in corporate assets above):
Pet segment $ 277,067  $ 277,067  $ 277,067 
Garden segment 234,906  12,888  92,324 
Total goodwill $ 511,973  $ 289,955  $ 369,391 
The tables below presents the Company's disaggregated revenues by segment:
Three Months Ended March 26, 2022 Six Months Ended March 26, 2022
Pet Segment Garden Segment Total Pet Segment Garden Segment Total
(in millions) (in millions)
Other pet products $ 223.7  $ —  $ 223.7  $ 377.4  $ —  $ 377.4 
Dog and cat products 129.3  —  129.3  274.2  —  274.2 
Other manufacturers' products 98.5  95.4  193.9  203.0  144.8  347.8 
Wild bird products 46.1  72.8  118.9  79.0  127.5  206.5 
Other garden supplies —  288.5  288.5  —  409.8  409.8 
     Total $ 497.6  $ 456.7  $ 954.3  $ 933.6  $ 682.1  $ 1,615.7 
Three Months Ended March 27, 2021 Six Months Ended March 27, 2021
Pet Segment Garden Segment Total Pet Segment Garden Segment Total
(in millions) (in millions)
Other pet products $ 212.1  $ —  $ 212.1  $ 360.4  $ —  $ 360.4 
Dog and cat products 133.3  —  133.3  284.7  —  284.7 
Other manufacturers' products 99.2  89.2  188.4  197.9  148.9  346.8 
Wild bird products 47.4  44.0  91.4  85.4  74.6  160.0 
Other garden supplies —  310.1  310.1  —  375.6  375.6 
     Total $ 492.0  $ 443.3  $ 935.3  $ 928.4  $ 599.1  $ 1,527.5