| 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 30,
2018 |
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June 24,
2017 |
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June 30,
2018 |
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June 24,
2017 |
Net sales: |
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Pet segment |
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$ |
354,760 |
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$ |
313,437 |
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$ |
1,001,497 |
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$ |
915,876 |
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Garden segment |
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303,183 |
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|
261,155 |
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|
711,551 |
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|
648,138 |
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Total net sales |
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$ |
657,943 |
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$ |
574,592 |
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$ |
1,713,048 |
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$ |
1,564,014 |
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Operating Income |
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Pet segment |
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39,242 |
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36,092 |
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108,202 |
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104,143 |
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Garden segment |
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40,929 |
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38,369 |
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93,975 |
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87,050 |
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Corporate |
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(19,352 |
) |
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(16,528 |
) |
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(53,051 |
) |
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(49,462 |
) |
Total operating income |
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60,819 |
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57,933 |
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149,126 |
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141,731 |
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Interest expense - net |
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(10,013 |
) |
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(7,220 |
) |
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(27,113 |
) |
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(20,877 |
) |
Other income (expense) |
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2,126 |
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1,626 |
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|
542 |
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(306 |
) |
Income tax expense |
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11,395 |
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19,450 |
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|
8,802 |
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|
44,621 |
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Income including noncontrolling interest |
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41,537 |
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32,889 |
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113,753 |
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|
75,927 |
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Net income (loss) attributable to noncontrolling interest |
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(8 |
) |
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641 |
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|
727 |
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1,358 |
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Net income attributable to Central Garden & Pet Company |
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$ |
41,545 |
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$ |
32,248 |
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$ |
113,026 |
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$ |
74,569 |
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Depreciation and amortization: |
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Pet segment |
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$ |
7,626 |
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6,794 |
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$ |
21,715 |
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$ |
18,798 |
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Garden segment |
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2,789 |
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1,651 |
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6,065 |
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4,686 |
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Corporate |
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2,172 |
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2,585 |
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7,092 |
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7,890 |
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Total depreciation and amortization |
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$ |
12,587 |
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$ |
11,030 |
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$ |
34,872 |
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$ |
31,374 |
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June 30,
2018 |
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June 24,
2017 |
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September 30,
2017 |
Assets: |
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Pet segment |
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$ |
687,561 |
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$ |
622,567 |
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$ |
612,337 |
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Garden segment |
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486,603 |
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368,365 |
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311,026 |
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Corporate |
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534,241 |
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330,409 |
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383,543 |
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Total assets |
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$ |
1,708,405 |
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$ |
1,321,341 |
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$ |
1,306,906 |
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Goodwill (included in corporate assets above): |
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Pet segment |
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$ |
262,770 |
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$ |
224,912 |
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$ |
250,802 |
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Garden segment |
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5,473 |
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|
5,473 |
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|
5,473 |
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Total goodwill |
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$ |
268,243 |
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$ |
230,385 |
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$ |
256,275 |
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