| 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 24, 2016 |
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September 26, 2015 |
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September 27, 2014 |
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Net sales: |
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Pet segment |
$ |
1,081,853 |
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$ |
894,549 |
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$ |
845,505 |
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Garden segment |
747,164 |
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|
756,188 |
|
|
758,852 |
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Total |
$ |
1,829,017 |
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$ |
1,650,737 |
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$ |
1,604,357 |
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Operating income (loss): |
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Pet segment |
$ |
119,930 |
|
(1) |
$ |
98,798 |
|
(1) |
$ |
88,077 |
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Garden segment |
70,317 |
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|
60,145 |
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|
41,020 |
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(2) |
Corporate |
(60,889 |
) |
|
(67,508 |
) |
|
(72,884 |
) |
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Total |
129,358 |
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|
91,435 |
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|
56,213 |
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Interest expense |
(42,847 |
) |
|
(40,027 |
) |
|
(42,844 |
) |
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Interest income |
140 |
|
|
129 |
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|
94 |
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Other income (expense) |
(17,013 |
) |
(3) |
13 |
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|
403 |
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Income (loss) before income taxes and noncontrolling interest |
69,638 |
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|
51,550 |
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|
13,866 |
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Income tax expense (benefit) |
24,053 |
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|
18,535 |
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|
4,045 |
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Net income (loss) including noncontrolling interest |
45,585 |
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|
33,015 |
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|
9,821 |
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Net income attributable to noncontrolling interest |
1,071 |
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|
1,044 |
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|
1,017 |
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Net income (loss) attributable to Central Garden & Pet Company |
$ |
44,514 |
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|
$ |
31,971 |
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$ |
8,804 |
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Assets: |
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Pet segment |
$ |
508,879 |
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$ |
465,171 |
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$ |
414,279 |
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Garden segment |
304,901 |
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|
310,981 |
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|
337,461 |
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Corporate and eliminations |
398,413 |
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|
355,445 |
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|
396,987 |
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Total |
$ |
1,212,193 |
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$ |
1,131,597 |
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$ |
1,148,727 |
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Depreciation and amortization: |
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Pet segment |
$ |
22,556 |
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$ |
15,885 |
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$ |
17,256 |
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Garden segment |
6,098 |
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|
5,988 |
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|
6,793 |
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Corporate |
11,347 |
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|
11,830 |
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|
11,732 |
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Total |
$ |
40,001 |
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$ |
33,703 |
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$ |
35,781 |
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Expenditures for long-lived assets: |
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Pet segment |
$ |
18,939 |
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$ |
17,060 |
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$ |
8,561 |
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Garden segment |
4,750 |
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|
2,432 |
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|
5,541 |
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Corporate |
3,933 |
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|
2,538 |
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|
3,071 |
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Total |
$ |
27,622 |
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$ |
22,030 |
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$ |
17,173 |
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___________________________
Noncontrolling interest is associated with the Garden segment.
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(1) |
Includes a $1.8 million impairment charge in fiscal 2016 and a $7.3 million impairment charge in fiscal 2015 to indefinite-lived intangible assets as a result of increased competition and declining sales volume.
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(2) |
Includes a $16.9 million charge related to certain products introduced in fiscal 2013 and a $4.9 million gain from the sale of manufacturing plant assets.
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(3) |
Includes a $16.6 million impairment charge related to two equity method investments.
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