Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)

v3.7.0.1

Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)	6 Months Ended
	Mar. 25, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Consolidating Condensed Statement of Operations	CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS     Three Months Ended March 25, 2017     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net sales   $ 190,791   $ 26,092   $ 378,673   $ (25,632 )   $ 569,924 Cost of goods sold and occupancy   145,593   20,128   244,680   (24,006 )   386,395 Gross profit   45,198   5,964   133,993   (1,626 )   183,529 Selling, general and administrative expenses   39,347   4,874   77,074   (1,626 )   119,669 Operating income   5,851   1,090   56,919   —   63,860 Interest expense   (6,759 )   (65 )   (6 )   —   (6,830 ) Interest income   7   1   —   —   8 Other income (expense)   (737 )   (194 )   (34 )   —   (965 ) Income (loss) before taxes and equity in earnings of affiliates   (1,638 )   832   56,879   —   56,073 Income tax expense (benefit)   (718 )   448   21,094   —   20,824 Equity in earnings of affiliates   35,604   —   384   (35,988 )   — Net income including noncontrolling interest   34,684   384   36,169   (35,988 )   35,249 Net income attributable to noncontrolling interest   —   565   —   —   565 Net income (loss) attributable to Central Garden & Pet Company   $ 34,684   $ (181 )   $ 36,169   $ (35,988 )   $ 34,684     CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS     Three Months Ended March 26, 2016     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net sales   $ 156,790   $ 30,002   $ 381,748   $ (27,291 )   $ 541,249 Cost of goods sold and occupancy   121,969   23,099   252,419   (25,577 )   371,910 Gross profit   34,821   6,903   129,329   (1,714 )   169,339 Selling, general and administrative expenses   33,210   5,124   73,316   (1,714 )   109,936 Operating income   1,611   1,779   56,013   —   59,403 Interest expense   (6,653 )   (68 )   (375 )   —   (7,096 ) Interest income   8   1   —   —   9 Other income (expense)   657   (197 )   (548 )   —   (88 ) Income (loss) before taxes and equity in earnings of affiliates   (4,377 )   1,515   55,090   —   52,228 Income tax expense (benefit)   (775 )   694   18,874   —   18,793 Equity in earnings of affiliates   36,299   —   585   (36,884 )   — Net income including noncontrolling interest   32,697   821   36,801   (36,884 )   33,435 Net income attributable to noncontrolling interest   —   738   —   —   738 Net income attributable to Central Garden & Pet Company   $ 32,697   $ 83   $ 36,801   $ (36,884 )   $ 32,697     CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS         Six Months Ended March 25, 2017         (in thousands)         Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net sales   $ 346,309   $ 40,116   $ 645,111   $ (42,114 )   $ 989,422 Cost of goods sold and occupancy   266,729   31,806   426,120   (39,440 )   685,215 Gross profit   79,580   8,310   218,991   (2,674 )   304,207 Selling, general and administrative expenses   75,312   8,538   139,233   (2,674 )   220,409 Operating income   4,268   (228 )   79,758   —   83,798 Interest expense   (13,610 )   (82 )   (11 )   —   (13,703 ) Interest income   45   1   —   —   46 Other expense   (1,340 )   (387 )   (205 )   —   (1,932 ) Income (loss) before taxes and equity in earnings of affiliates   (10,637 )   (696 )   79,542   —   68,209 Income tax expense (benefit)   (3,910 )   37   29,044   —   25,171 Equity in earnings (loss) of affiliates   49,048   —   (427 )   (48,621 )   — Net income (loss) including noncontrolling interest   42,321   (733 )   50,071   (48,621 )   43,038 Net income attributable to noncontrolling interest   —   717   —   —   717 Net income (loss) attributable to Central Garden & Pet Company   $ 42,321   $ (1,450 )   $ 50,071   $ (48,621 )   $ 42,321                           CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS         Six Months Ended March 26, 2016         (in thousands)         Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net sales   $ 293,817   $ 45,272   $ 603,912   $ (41,940 )   $ 901,061 Cost of goods sold and occupancy   232,228   36,045   402,908   (39,245 )   631,936 Gross profit   61,589   9,227   201,004   (2,695 )   269,125 Selling, general and administrative expenses   66,164   8,903   128,577   (2,695 )   200,949 Operating income (loss)   (4,575 )   324   72,427   —   68,176 Interest expense   (29,161 )   (80 )   —   —   (29,241 ) Interest income   29   2   —   —   31 Other expense   (178 )   (263 )   (120 )   —   (561 ) Income (loss) before taxes and equity in earnings of affiliates   (33,885 )   (17 )   72,307   —   38,405 Income tax expense (benefit)   (11,920 )   197   25,316   —   13,593 Equity in earnings (loss) of affiliates   46,060   —   (177 )   (45,883 )   — Net income (loss) including noncontrolling interest   24,095   (214 )   46,814   (45,883 )   24,812 Net income attributable to noncontrolling interest   —   717   —   —   717 Net income (loss) attributable to Central Garden & Pet Company   $ 24,095   $ (931 )   $ 46,814   $ (45,883 )   $ 24,095
Consolidating Condensed Statements of Comprehensive Income (Loss)	CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)     Three Months Ended March 25, 2017     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net income   $ 34,684   $ 384   $ 36,169   $ (35,988 )   $ 35,249 Other comprehensive income:                     Foreign currency translation   144   95   20   (115 )   144 Total comprehensive income   34,828   479   36,189   (36,103 )   35,393 Comprehensive income attributable to noncontrolling interests   —   565   —   —   565 Comprehensive income (loss) attributable to Central Garden & Pet Company   $ 34,828   $ (86 )   $ 36,189   $ (36,103 )   $ 34,828     CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)     Three Months Ended March 26, 2016     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net income (loss)   $ 32,697   $ 821   $ 36,801   $ (36,884 )   $ 33,435 Other comprehensive income (loss):                     Foreign currency translation (459 ) (398 ) 57 341 (459 ) Total comprehensive income   32,238   423   36,858   (36,543 )   32,976 Comprehensive loss attributable to noncontrolling interests   —   738   —   —   738 Comprehensive income (loss) attributable to Central Garden & Pet Company   $ 32,238   $ (315 )   $ 36,858   $ (36,543 )   $ 32,238     CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME     Six Months Ended March 25, 2017     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net income (loss)   $ 42,321   $ (733 )   $ 50,071   $ (48,621 )   $ 43,038 Other comprehensive loss:                     Foreign currency translation   (364 )   (260 )   (30 )   290   (364 ) Total comprehensive income (loss)   41,957   (993 )   50,041   (48,331 )   42,674 Comprehensive income attributable to noncontrolling interests   —   717   —   —   717 Comprehensive income (loss) attributable to Central Garden & Pet Company   $ 41,957   $ (1,710 )   $ 50,041   $ (48,331 )   $ 41,957                           CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME     Six Months Ended March 26, 2016     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net income (loss)   $ 24,095   $ (214 )   $ 46,814   $ (45,883 )   $ 24,812 Other comprehensive income (loss):                     Foreign currency translation   (692 )   (540 )   7   533   (692 ) Total comprehensive income (loss)   23,403   (754 )   46,821   (45,350 )   24,120 Comprehensive income attributable to noncontrolling interests   —   717   —   —   717 Comprehensive income (loss) attributable to Central Garden & Pet Company   $ 23,403   $ (1,471 )   $ 46,821   $ (45,350 )   $ 23,403
Consolidating Condensed Balance Sheet	CONSOLIDATING CONDENSED BALANCE SHEET     March 25, 2017     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated ASSETS                     Cash and cash equivalents   $ 492   $ 4,764   $ 913   $ —   $ 6,169 Restricted cash   10,988   —   —   —   10,988 Accounts receivable, net   113,600   14,366   215,236   —   343,202 Inventories   138,493   16,901   270,991   —   426,385 Prepaid expenses and other   21,933   830   31,311   —   54,074 Total current assets   285,506   36,861   518,451   —   840,818 Land, buildings, improvements and equipment, net   38,932   4,045   132,963   —   175,940 Goodwill   15,058   —   215,327   —   230,385 Other long-term assets   26,472   3,364   127,924   (5,975 )   151,785 Intercompany receivable   44,957   —   511,319   (556,276 )   — Investment in subsidiaries   1,287,126   —   —   (1,287,126 )   — Total   $ 1,698,051   $ 44,270   $ 1,505,984   $ (1,849,377 )   $ 1,398,928 LIABILITIES AND EQUITY                     Accounts payable   $ 51,357   $ 11,199   $ 79,235   $ —   $ 141,791 Accrued expenses   53,301   2,131   45,989   —   101,421 Current portion of long-term debt   —   —   374   —   374 Total current liabilities   104,658   13,330   125,598   —   243,586 Long-term debt   495,762   —   108   —   495,870 Intercompany payable   501,993   54,283     (556,276 )   — Losses in excess of investment in subsidiaries   —   —   20,629   (20,629 )   — Other long-term obligations   2,418   —   68,538   (5,975 )   64,981 Total Central Garden & Pet shareholders’ equity (deficit)   593,220   (24,614 )   1,291,111   (1,266,497 )   593,220 Noncontrolling interest   —   1,271   —   —   1,271 Total equity (deficit)   593,220   (23,343 )   1,291,111   (1,266,497 )   594,491 Total   $ 1,698,051   $ 44,270   $ 1,505,984   $ (1,849,377 )   $ 1,398,928     CONSOLIDATING CONDENSED BALANCE SHEET     March 26, 2016     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated ASSETS                     Cash and cash equivalents   $ 1,820   $ 5,083   $ 2,923   $ —   $ 9,826 Restricted cash   11,946   —   —   —   11,946 Accounts receivable, net   100,346   15,446   224,734   —   340,526 Inventories   115,644   17,043   258,067   —   390,754 Prepaid expenses and other   23,003   797   26,958   —   50,758 Total current assets   252,759   38,369   512,682   —   803,810 Land, buildings, improvements and equipment, net   47,310   3,829   113,655   —   164,794 Goodwill   —   —   213,753   —   213,753 Other long-term assets   54,088   3,417   84,777   (1,540 )   140,742 Intercompany receivable   41,922   —   367,931   (409,853 )   — Investment in subsidiaries   1,098,281   —   —   (1,098,281 )   — Total   $ 1,494,360   $ 45,615   $ 1,292,798   $ (1,509,674 )   $ 1,323,099 LIABILITIES AND EQUITY                     Accounts payable   $ 48,693   $ 10,546   $ 73,972   $ —   $ 133,211 Accrued expenses   52,837   2,029   42,816   —   97,682 Current portion of long-term debt   219   —   375   —   594 Total current liabilities   101,749   12,575   117,163   —   231,487 Long-term debt   496,001   —   395   —   496,396 Intercompany payable   359,472   50,381   —   (409,853 )   — Losses in excess of investment in subsidiaries   —   —   16,928   (16,928 )   — Other long-term obligations   5,416   —   58,398   (1,540 )   62,274 Total Central Garden & Pet shareholders’ equity (deficit)   531,722   (18,561 )   1,099,914   (1,081,353 )   531,722 Noncontrolling interest   —   1,220   —   —   1,220 Total equity (deficit)   531,722   (17,341 )   1,099,914   (1,081,353 )   532,942 Total   $ 1,494,360   $ 45,615   $ 1,292,798   $ (1,509,674 )   $ 1,323,099     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   20,978   817   25,964   —   47,759 Total current assets   286,980   27,420   400,406   —   714,806 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   30,555   2,980   85,701   (11,458 )   107,778 Intercompany receivable   32,778   —   567,374   (600,152 )   — Investment in subsidiaries   1,176,990   —   —   (1,176,990 )   — Total   $ 1,583,444   $ 34,297   $ 1,383,052   $ (1,788,600 )   $ 1,212,193 LIABILITIES AND EQUITY                     Accounts payable   $ 34,096   $ 3,953   $ 64,364   $ —   $ 102,413 Accrued expenses and other liabilities   47,862   1,410   50,071   —   99,343 Current portion of long term debt   88   —   375   —   463 Total current liabilities   82,046   5,363   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   —   71,983   (11,458 )   60,581 Total Central Garden & Pet shareholders’ equity (deficit)   553,014   (18,827 )   1,179,691   (1,160,864 )   553,014 Noncontrolling interest   —   1,573   —   —   1,573 Total equity (deficit)   553,014   (17,254 )   1,179,691   (1,160,864 )   554,587 Total   $ 1,583,444   $ 34,297   $ 1,383,052   $ (1,788,600 )   $ 1,212,193
Consolidating Condensed Statement of Cash Flows	CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS     Six Months Ended March 25, 2017     (in thousands)     Parent   Non- Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net cash used by operating activities   $ (43,383 )   $ (7,352 )   $ (41,431 )   $ (4,076 )   $ (96,242 ) Additions to property, plant and equipment   (4,357 )   (413 )   (22,024 )   —   (26,794 ) Payments to acquire companies, net of cash acquired   (60,042 )   —   —   —   (60,042 ) Proceeds from sale of business, facility and other assets   2   —   8,266   —   8,268 Change in restricted cash and cash equivalents   (78 )   —   —   —   (78 ) Investment in equity method investee   (2,000 )   —     —   (2,000 ) Other investing activities   (1,395 )   —   —   —   (1,395 ) Intercompany investing activities   (14,089 )   —   50,108   (36,019 )   — Net cash provided (used) by investing activities   (81,959 )   (413 )   36,350   (36,019 )   (82,041 ) Repayments on revolving line of credit   (115,000 )   —   —   —   (115,000 ) Borrowings on revolving line of credit   216,000   —   —   —   216,000 Repayments of long-term debt   (88 )   —   (361 )   —   (449 ) Excess tax benefits from stock-based awards   13,166   —   —   —   13,166 Repurchase of common stock   (20,172 )   —   —   —   (20,172 ) Distribution to parent   —   (4,076 )   —   4,076   — Distribution to noncontrolling interest   —   (1,019 )   —   —   (1,019 ) Payment of contingent consideration   —   —   (894 )   —   (894 ) Intercompany financing activities   (49,895 )   7,830   6,046   36,019   — Net cash provided by financing activities   44,011   2,735   4,791   40,095   91,632 Effect of exchange rates on cash   (335 )   99   74   —   (162 ) Net decrease in cash and cash equivalents   (81,666 )   (4,931 )   (216 )   —   (86,813 ) Cash and cash equivalents at beginning of period   82,158   9,695   1,129   —   92,982 Cash and cash equivalents at end of period   $ 492   $ 4,764   $ 913   $ —   $ 6,169     CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS     Six Months Ended March 26, 2016     (in thousands)     Parent   Non-Guarantor Subsidiaries   Guarantor Subsidiaries   Eliminations   Consolidated Net cash used by operating activities   $ (12,121 )   $ (6,240 )   $ (27,598 )   $ (4,884 )   $ (50,843 ) Additions to property, plant and equipment   (2,394 )   (412 )   (9,989 )   —   (12,795 ) Payments to acquire companies, net of cash acquired   (60,916 )   —   (7,985 )   —   (68,901 ) Change in restricted cash and cash equivalents   1,211   —   —   —   1,211 Other investing activities   (500 )   —   —   —   (500 ) Intercompany investing activities   (9,227 )   —   47,070   (37,843 )   — Net cash provided (used) by investing activities   (71,826 )   (412 )   29,096   (37,843 )   (80,985 ) Repayments of long-term debt   (400,130 )   —   (15 )   —   (400,145 ) Borrowings under revolving line of credit   280,000   —   —   —   280,000 Repayments on revolving line of credit   (178,000 )   —   —   —   (178,000 ) Issuance of long-term debt   400,000         400,000 Excess tax benefits from stock-based awards   1,181   —   —   —   1,181 Repurchase of common stock   (1,722 )   —   —   —   (1,722 ) Distribution to parent   —   (4,884 )   —   4,884   — Distribution to noncontrolling interest   —   (592 )   —   —   (592 ) Payment of financing costs   (6,362 )         (6,362 ) Intercompany financing activities   (44,782 )   6,939   —   37,843   — Net cash provided (used) by financing activities   50,185   1,463   (15 )   42,727   94,360 Effect of exchange rates on cash   (698 )   250   158   —   (290 ) Net increase (decrease) in cash and cash equivalents   (34,460 )   (4,939 )   1,641   —   (37,758 ) Cash and cash equivalents at beginning of year   36,280   10,022   1,282   —   47,584 Cash and cash equivalents at end of year   $ 1,820   $ 5,083   $ 2,923   $ —   $ 9,826