Financial Information Relating to Company's Business Segments |
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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Six Months Ended |
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March 28, 2020 |
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March 30, 2019 |
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March 28, 2020 |
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March 30, 2019 |
Net sales: |
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Pet segment |
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$ |
360,792 |
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$ |
338,183 |
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$ |
714,813 |
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$ |
678,599 |
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Garden segment |
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342,437 |
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335,518 |
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471,244 |
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457,092 |
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Total net sales |
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$ |
703,229 |
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$ |
673,701 |
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$ |
1,186,057 |
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$ |
1,135,691 |
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Operating Income (loss) |
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Pet segment |
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33,617 |
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26,984 |
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63,839 |
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56,739 |
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Garden segment |
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53,020 |
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53,355 |
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44,652 |
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48,718 |
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Corporate |
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(20,532) |
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(18,186) |
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(40,321) |
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(33,123) |
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Total operating income |
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66,105 |
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62,153 |
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68,170 |
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72,334 |
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Interest expense - net |
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(9,336) |
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(8,385) |
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(17,973) |
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(16,462) |
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Other income (expense) |
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(979) |
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500 |
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(674) |
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308 |
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Income tax expense |
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12,648 |
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11,546 |
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10,920 |
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11,819 |
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Income including noncontrolling interest |
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43,142 |
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42,722 |
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38,603 |
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44,361 |
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Net income attributable to noncontrolling interest |
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438 |
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331 |
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316 |
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167 |
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Net income attributable to Central Garden & Pet Company |
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$ |
42,704 |
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$ |
42,391 |
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$ |
38,287 |
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$ |
44,194 |
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Depreciation and amortization: |
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Pet segment |
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$ |
8,441 |
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$ |
8,039 |
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$ |
16,931 |
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$ |
16,095 |
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Garden segment |
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3,324 |
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2,312 |
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6,619 |
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5,138 |
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Corporate |
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1,411 |
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1,526 |
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2,766 |
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2,996 |
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Total depreciation and amortization |
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$ |
13,176 |
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$ |
11,877 |
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$ |
26,316 |
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$ |
24,229 |
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March 28, 2020 |
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March 30, 2019 |
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September 28, 2019 |
Assets: |
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Pet segment |
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$ |
796,080 |
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$ |
700,638 |
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$ |
734,380 |
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Garden segment |
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712,061 |
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687,951 |
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463,889 |
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Corporate |
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659,266 |
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657,551 |
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826,751 |
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Total assets |
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$ |
2,167,407 |
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$ |
2,046,140 |
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$ |
2,025,020 |
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Goodwill (included in corporate assets above): |
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Pet segment |
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$ |
272,066 |
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$ |
268,289 |
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$ |
268,289 |
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Garden segment |
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17,788 |
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12,888 |
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17,788 |
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Total goodwill |
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$ |
289,854 |
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$ |
281,177 |
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$ |
286,077 |
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The tables below presents the Company's disaggregated revenues by segment (in millions):
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Three Months Ended March 28, 2020 |
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Six Months Ended March 28, 2020 |
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Pet Segment |
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Garden Segment |
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Total |
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Pet Segment |
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Garden Segment |
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Total |
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Other pet products |
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$ |
164.2 |
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$ |
— |
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$ |
164.2 |
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$ |
302.0 |
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$ |
— |
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$ |
302.0 |
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Dog and cat products |
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111.4 |
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— |
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111.4 |
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241.8 |
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— |
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241.8 |
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Other manufacturers' products |
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85.2 |
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65.1 |
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150.3 |
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171.0 |
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95.0 |
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266.0 |
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Garden controls and fertilizer products |
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— |
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110.8 |
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110.8 |
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— |
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133.9 |
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133.9 |
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Other garden supplies |
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— |
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166.5 |
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166.5 |
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— |
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242.3 |
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242.3 |
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Total |
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$ |
360.8 |
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$ |
342.4 |
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$ |
703.2 |
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$ |
714.8 |
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$ |
471.2 |
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$ |
1,186.1 |
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Three Months Ended March 30, 2019 |
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Six Months Ended March 30, 2019 |
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Pet Segment |
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Garden Segment |
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Total |
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Pet Segment |
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Garden Segment |
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Total |
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Other pet products |
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$ |
154.8 |
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$ |
— |
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$ |
154.8 |
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$ |
285.6 |
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$ |
— |
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$ |
285.6 |
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Dog and cat products |
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105.2 |
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— |
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105.2 |
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236.3 |
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— |
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236.3 |
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Other manufacturers' products |
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78.2 |
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52.3 |
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130.5 |
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156.7 |
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81.4 |
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238.1 |
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Garden controls and fertilizer products |
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— |
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113.8 |
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113.8 |
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— |
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138.1 |
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138.1 |
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Other garden supplies |
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— |
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169.4 |
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169.4 |
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— |
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237.6 |
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237.6 |
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Total |
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$ |
338.2 |
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$ |
335.5 |
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$ |
673.7 |
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$ |
678.6 |
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$ |
457.1 |
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$ |
1,135.7 |
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