| Financial Information Relating to Company's Business Segments |
Financial
information relating to the Company’s business segments for
each of the three most recent fiscal years is presented in the
table below (in thousands):
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Fiscal Year
Ended |
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September 26,
2015 |
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September 27,
2014 |
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September 28,
2013 |
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Net sales:
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Pet segment
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$ |
894,549 |
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|
$ |
845,505 |
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|
$ |
888,228 |
|
|
Garden segment
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|
756,188 |
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|
758,852 |
|
|
|
765,405 |
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Total
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$ |
1,650,737 |
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|
$ |
1,604,357 |
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|
$ |
1,653,633 |
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Income (loss) from
operations:
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Pet segment
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$ |
98,798 |
(1) |
|
$ |
88,077 |
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|
$ |
95,451 |
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Garden segment
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|
60,145 |
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|
|
41,020 |
(2) |
|
|
8,286 |
(3) |
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Corporate
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|
(67,508 |
) |
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|
(72,884 |
) |
|
|
(63,582 |
) |
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Total
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|
91,435 |
|
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|
56,213 |
|
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|
40,155 |
|
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Interest expense
|
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|
(40,027 |
) |
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|
(42,844 |
) |
|
|
(43,112 |
) |
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Interest income
|
|
|
129 |
|
|
|
94 |
|
|
|
142 |
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Other income
(expense)
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|
|
13 |
|
|
|
403 |
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(677 |
) |
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Income (loss) before income
taxes and noncontrolling interest
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|
51,550 |
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|
13,866 |
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|
(3,492 |
) |
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Income tax expense
(benefit)
|
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|
18,535 |
|
|
|
4,045 |
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|
(2,592 |
) |
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Net income (loss) including
noncontrolling interest
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|
33,015 |
|
|
|
9,821 |
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|
(900 |
) |
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Net income attributable to
noncontrolling interest
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|
|
1,044 |
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|
1,017 |
|
|
|
1,029 |
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Net income (loss)
attributable to Central Garden & Pet Company
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$ |
31,971 |
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|
$ |
8,804 |
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|
$ |
(1,929 |
) |
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Assets:
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Pet segment
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$ |
465,171 |
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$ |
414,279 |
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|
$ |
425,988 |
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Garden segment
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|
310,981 |
|
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|
337,461 |
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|
|
388,581 |
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Corporate and
eliminations
|
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|
358,602 |
|
|
|
396,987 |
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|
346,591 |
|
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Total
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$ |
1,134,754 |
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|
$ |
1,148,727 |
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$ |
1,161,160 |
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Depreciation and
amortization:
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Pet segment
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$ |
15,885 |
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|
$ |
17,256 |
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$ |
15,753 |
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Garden segment
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|
5,988 |
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|
|
6,793 |
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|
|
6,410 |
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Corporate
|
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|
11,830 |
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|
11,732 |
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|
10,805 |
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Total
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$ |
33,703 |
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$ |
35,781 |
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$ |
32,968 |
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Expenditures for long-lived
assets:
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Pet segment
|
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$ |
17,060 |
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|
$ |
8,561 |
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$ |
9,694 |
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Garden segment
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|
2,432 |
|
|
|
5,541 |
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|
|
7,496 |
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Corporate
|
|
|
2,538 |
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|
|
3,071 |
|
|
|
7,982 |
|
|
|
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Total
|
|
$ |
22,030 |
|
|
$ |
17,173 |
|
|
$ |
25,172 |
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Noncontrolling interest is
associated with the Garden segment.
| (1) |
Includes a $7.3 million
impairment charge to indefinite-lived intangible assets as a result
of increased competition and declining sales volume. |
| (2) |
Includes a $16.9 million
charge related to certain products introduced in fiscal and a $4.9
million gain from the sale of manufacturing plant
assets. |
| (3) |
Includes goodwill
impairment of $7.7 million and an $11.2 million charge related to
certain products introduced in fiscal 2013. |
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