Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)
|
12 Months Ended |
Sep. 28, 2019 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| Consolidating Condensed Statement of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
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|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
Fiscal Year Ended September 28, 2019 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
$ |
764,991 |
|
|
$ |
191,442 |
|
|
$ |
1,496,962 |
|
|
$ |
(70,385 |
) |
|
$ |
2,383,010 |
|
Cost of goods sold and occupancy |
592,916 |
|
|
150,067 |
|
|
1,000,994 |
|
|
(65,008 |
) |
|
1,678,969 |
|
Gross profit |
172,075 |
|
|
41,375 |
|
|
495,968 |
|
|
(5,377 |
) |
|
704,041 |
|
Selling, general and administrative expenses |
181,894 |
|
|
42,213 |
|
|
333,243 |
|
|
(5,377 |
) |
|
551,973 |
|
Operating income (loss) |
(9,819 |
) |
|
(838 |
) |
|
162,725 |
|
|
— |
|
|
152,068 |
|
Interest expense |
(42,078 |
) |
|
(802 |
) |
|
266 |
|
|
— |
|
|
(42,614 |
) |
Interest income |
9,608 |
|
|
19 |
|
|
(73 |
) |
|
— |
|
|
9,554 |
|
Other income (expense) |
190 |
|
|
(575 |
) |
|
628 |
|
|
— |
|
|
243 |
|
Income (loss) before taxes and equity in earnings of affiliates |
(42,099 |
) |
|
(2,196 |
) |
|
163,546 |
|
|
— |
|
|
119,251 |
|
Income tax expense (benefit) |
(9,324 |
) |
|
(179 |
) |
|
36,107 |
|
|
— |
|
|
26,604 |
|
Equity in earnings of affiliates |
125,561 |
|
|
— |
|
|
(230 |
) |
|
(125,331 |
) |
|
— |
|
Net income including noncontrolling interest |
92,786 |
|
|
(2,017 |
) |
|
127,209 |
|
|
(125,331 |
) |
|
92,647 |
|
Noncontrolling interest |
— |
|
|
(139 |
) |
|
— |
|
|
— |
|
|
(139 |
) |
Net income attributable to Central Garden & Pet Company |
$ |
92,786 |
|
|
$ |
(1,878 |
) |
|
$ |
127,209 |
|
|
$ |
(125,331 |
) |
|
$ |
92,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
Fiscal Year Ended September 29, 2018 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
$ |
730,439 |
|
|
$ |
167,584 |
|
|
$ |
1,397,688 |
|
|
$ |
(80,349 |
) |
|
$ |
2,215,362 |
|
Cost of goods sold and occupancy |
568,145 |
|
|
128,944 |
|
|
917,276 |
|
|
(74,379 |
) |
|
1,539,986 |
|
Gross profit |
162,294 |
|
|
38,640 |
|
|
480,412 |
|
|
(5,970 |
) |
|
675,376 |
|
Selling, general and administrative expenses |
167,849 |
|
|
33,118 |
|
|
313,043 |
|
|
(5,970 |
) |
|
508,040 |
|
Operating income (loss) |
(5,555 |
) |
|
5,522 |
|
|
167,369 |
|
|
— |
|
|
167,336 |
|
Interest expense |
(38,855 |
) |
|
(547 |
) |
|
206 |
|
|
— |
|
|
(39,196 |
) |
Interest income |
3,138 |
|
|
6 |
|
|
1 |
|
|
— |
|
|
3,145 |
|
Other income (expense) |
(4,269 |
) |
|
(236 |
) |
|
645 |
|
|
— |
|
|
(3,860 |
) |
Income (loss) before taxes and equity in earnings of affiliates |
(45,541 |
) |
|
4,745 |
|
|
168,221 |
|
|
— |
|
|
127,425 |
|
Income tax expense (benefit) |
(1,138 |
) |
|
79 |
|
|
4,364 |
|
|
— |
|
|
3,305 |
|
Equity in earnings of affiliates |
167,997 |
|
|
— |
|
|
1,133 |
|
|
(169,130 |
) |
|
— |
|
Net income including noncontrolling interest |
123,594 |
|
|
4,666 |
|
|
164,990 |
|
|
(169,130 |
) |
|
124,120 |
|
Noncontrolling interest |
— |
|
|
526 |
|
|
— |
|
|
— |
|
|
526 |
|
Net income (loss) attributable to Central Garden & Pet Company |
$ |
123,594 |
|
|
$ |
4,140 |
|
|
$ |
164,990 |
|
|
$ |
(169,130 |
) |
|
$ |
123,594 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
Fiscal Year Ended September 30, 2017 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
$ |
685,998 |
|
|
$ |
79,681 |
|
|
$ |
1,370,335 |
|
|
$ |
(81,536 |
) |
|
$ |
2,054,478 |
|
Cost of goods sold and occupancy |
534,682 |
|
|
60,788 |
|
|
901,959 |
|
|
(75,759 |
) |
|
1,421,670 |
|
Gross profit |
151,316 |
|
|
18,893 |
|
|
468,376 |
|
|
(5,777 |
) |
|
632,808 |
|
Selling, general and administrative expenses |
154,267 |
|
|
18,416 |
|
|
309,790 |
|
|
(5,777 |
) |
|
476,696 |
|
Operating income (loss) |
(2,951 |
) |
|
477 |
|
|
158,586 |
|
|
— |
|
|
156,112 |
|
Interest expense |
(28,051 |
) |
|
(294 |
) |
|
136 |
|
|
— |
|
|
(28,209 |
) |
Interest income |
146 |
|
|
1 |
|
|
— |
|
|
— |
|
|
147 |
|
Other income (expense) |
(2,379 |
) |
|
844 |
|
|
(86 |
) |
|
— |
|
|
(1,621 |
) |
Income (loss) before taxes and equity in earnings of affiliates |
(33,235 |
) |
|
1,028 |
|
|
158,636 |
|
|
— |
|
|
126,429 |
|
Income tax expense (benefit) |
(11,981 |
) |
|
1,466 |
|
|
57,214 |
|
|
— |
|
|
46,699 |
|
Equity in earnings of affiliates |
100,082 |
|
|
— |
|
|
420 |
|
|
(100,502 |
) |
|
— |
|
Net income including noncontrolling interest |
78,828 |
|
|
(438 |
) |
|
101,842 |
|
|
(100,502 |
) |
|
79,730 |
|
Noncontrolling interest |
— |
|
|
902 |
|
|
— |
|
|
— |
|
|
902 |
|
Net income (loss) attributable to Central Garden & Pet Company |
$ |
78,828 |
|
|
$ |
(1,340 |
) |
|
$ |
101,842 |
|
|
$ |
(100,502 |
) |
|
$ |
78,828 |
|
|
| Consolidating Condensed Statements of Comprehensive Income (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS)
|
|
Fiscal Year Ended September 28, 2019 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income (loss) |
$ |
92,786 |
|
|
$ |
(2,017 |
) |
|
$ |
127,209 |
|
|
$ |
(125,331 |
) |
|
$ |
92,647 |
|
Other comprehensive loss: |
|
|
|
|
|
|
|
|
|
Foreign currency translation |
(458 |
) |
|
(299 |
) |
|
(48 |
) |
|
347 |
|
|
(458 |
) |
Total comprehensive income (loss) |
92,328 |
|
|
(2,316 |
) |
|
127,161 |
|
|
(124,984 |
) |
|
92,189 |
|
Comprehensive loss attributable to noncontrolling interests |
— |
|
|
(139 |
) |
|
— |
|
|
— |
|
|
(139 |
) |
Comprehensive income (loss) attributable to Central Garden & Pet Company |
$ |
92,328 |
|
|
$ |
(2,177 |
) |
|
$ |
127,161 |
|
|
$ |
(124,984 |
) |
|
$ |
92,328 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME
|
|
Fiscal Year Ended September 29, 2018 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income |
$ |
123,594 |
|
|
$ |
4,666 |
|
|
$ |
164,990 |
|
|
$ |
(169,130 |
) |
|
$ |
124,120 |
|
Other comprehensive loss: |
|
|
|
|
|
|
|
|
|
Foreign currency translation |
(267 |
) |
|
(145 |
) |
|
(67 |
) |
|
212 |
|
|
(267 |
) |
Total comprehensive income |
123,327 |
|
|
4,521 |
|
|
164,923 |
|
|
(168,918 |
) |
|
123,853 |
|
Comprehensive income attributable to noncontrolling interests |
— |
|
|
526 |
|
|
— |
|
|
— |
|
|
526 |
|
Comprehensive income attributable to Central Garden & Pet Company |
$ |
123,327 |
|
|
$ |
3,995 |
|
|
$ |
164,923 |
|
|
$ |
(168,918 |
) |
|
$ |
123,327 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS)
|
|
Fiscal Year Ended September 30, 2017 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income (loss) |
$ |
78,828 |
|
|
$ |
(438 |
) |
|
$ |
101,842 |
|
|
$ |
(100,502 |
) |
|
$ |
79,730 |
|
Other comprehensive Income: |
|
|
|
|
|
|
|
|
|
Foreign currency translation |
343 |
|
|
169 |
|
|
108 |
|
|
(277 |
) |
|
343 |
|
Total comprehensive income (loss) |
79,171 |
|
|
(269 |
) |
|
101,950 |
|
|
(100,779 |
) |
|
80,073 |
|
Comprehensive income attributable to noncontrolling interests |
— |
|
|
902 |
|
|
— |
|
|
— |
|
|
902 |
|
Comprehensive income (loss) attributable to Central Garden & Pet Company |
$ |
79,171 |
|
|
$ |
(1,171 |
) |
|
$ |
101,950 |
|
|
$ |
(100,779 |
) |
|
$ |
79,171 |
|
|
| Consolidating Condensed Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
September 28, 2019 |
|
|
(in thousands) |
|
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
489,590 |
|
|
$ |
7,308 |
|
|
$ |
851 |
|
|
$ |
— |
|
|
$ |
497,749 |
|
Restricted cash |
|
12,952 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,952 |
|
Accounts receivable, net |
|
99,372 |
|
|
11,551 |
|
|
189,212 |
|
|
— |
|
|
300,135 |
|
Inventories, net |
|
121,344 |
|
|
30,826 |
|
|
314,027 |
|
|
— |
|
|
466,197 |
|
Prepaid expenses and other assets |
|
9,339 |
|
|
1,241 |
|
|
19,580 |
|
|
— |
|
|
30,160 |
|
Total current assets |
|
732,597 |
|
|
50,926 |
|
|
523,670 |
|
|
— |
|
|
1,307,193 |
|
Land, buildings, improvements and equipment, net |
|
27,395 |
|
|
35,854 |
|
|
182,156 |
|
|
— |
|
|
245,405 |
|
Goodwill |
|
20,578 |
|
|
7,414 |
|
|
258,085 |
|
|
— |
|
|
286,077 |
|
Other long term assets |
|
55,690 |
|
|
5,487 |
|
|
139,138 |
|
|
(13,970 |
) |
|
186,345 |
|
Intercompany receivable |
|
37,544 |
|
|
— |
|
|
879,231 |
|
|
(916,775 |
) |
|
— |
|
Investment in subsidiaries |
|
1,784,750 |
|
|
— |
|
|
— |
|
|
(1,784,750 |
) |
|
— |
|
Total |
|
$ |
2,658,554 |
|
|
$ |
99,681 |
|
|
$ |
1,982,280 |
|
|
$ |
(2,715,495 |
) |
|
$ |
2,025,020 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
47,506 |
|
|
$ |
6,895 |
|
|
$ |
94,845 |
|
|
$ |
— |
|
|
$ |
149,246 |
|
Accrued expenses and other liabilities |
|
54,623 |
|
|
4,814 |
|
|
69,729 |
|
|
— |
|
|
129,166 |
|
Current portion of long term debt |
|
113 |
|
|
— |
|
|
— |
|
|
— |
|
|
113 |
|
Total current liabilities |
|
102,242 |
|
|
11,709 |
|
|
164,574 |
|
|
— |
|
|
278,525 |
|
Long-term debt |
|
693,037 |
|
|
— |
|
|
— |
|
|
— |
|
|
693,037 |
|
Intercompany payable |
|
858,673 |
|
|
58,102 |
|
|
— |
|
|
(916,775 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
25,567 |
|
|
(25,567 |
) |
|
— |
|
Other long-term obligations |
|
8,595 |
|
|
— |
|
|
62,656 |
|
|
(13,970 |
) |
|
57,281 |
|
Shareholders’ equity attributable to Central Garden & Pet |
|
996,007 |
|
|
29,700 |
|
|
1,729,483 |
|
|
(1,759,183 |
) |
|
996,007 |
|
Noncontrolling interest |
|
— |
|
|
170 |
|
|
— |
|
|
— |
|
|
170 |
|
Total equity |
|
996,007 |
|
|
29,870 |
|
|
1,729,483 |
|
|
(1,759,183 |
) |
|
996,177 |
|
Total |
|
$ |
2,658,554 |
|
|
$ |
99,681 |
|
|
$ |
1,982,280 |
|
|
$ |
(2,715,495 |
) |
|
$ |
2,025,020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
September 29, 2018 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
Cash and cash equivalents |
$ |
474,210 |
|
|
$ |
6,005 |
|
|
$ |
1,891 |
|
|
$ |
— |
|
|
$ |
482,106 |
|
Restricted cash |
10,899 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,899 |
|
Accounts receivable, net |
94,657 |
|
|
9,647 |
|
|
171,604 |
|
|
— |
|
|
275,908 |
|
Inventories, net |
123,178 |
|
|
32,556 |
|
|
272,089 |
|
|
— |
|
|
427,823 |
|
Prepaid expenses and other assets |
6,304 |
|
|
1,455 |
|
|
12,803 |
|
|
— |
|
|
20,562 |
|
Total current assets |
709,248 |
|
|
49,663 |
|
|
458,387 |
|
|
— |
|
|
1,217,298 |
|
Land, buildings, improvements and equipment, net |
33,484 |
|
|
33,840 |
|
|
150,323 |
|
|
— |
|
|
217,647 |
|
Goodwill |
20,578 |
|
|
7,414 |
|
|
253,185 |
|
|
— |
|
|
281,177 |
|
Other long term assets |
62,199 |
|
|
7,469 |
|
|
133,145 |
|
|
(11,726 |
) |
|
191,087 |
|
Intercompany receivable |
40,365 |
|
|
— |
|
|
769,886 |
|
|
(810,251 |
) |
|
— |
|
Investment in subsidiaries |
1,618,378 |
|
|
— |
|
|
— |
|
|
(1,618,378 |
) |
|
— |
|
Total |
$ |
2,484,252 |
|
|
$ |
98,386 |
|
|
$ |
1,764,926 |
|
|
$ |
(2,440,355 |
) |
|
$ |
1,907,209 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable |
$ |
33,122 |
|
|
$ |
4,759 |
|
|
$ |
72,378 |
|
|
$ |
— |
|
|
$ |
110,259 |
|
Accrued expenses and other liabilities |
44,142 |
|
|
4,746 |
|
|
53,695 |
|
|
— |
|
|
102,583 |
|
Current portion of long term debt |
116 |
|
|
— |
|
|
6 |
|
|
— |
|
|
122 |
|
Total current liabilities |
77,380 |
|
|
9,505 |
|
|
126,079 |
|
|
— |
|
|
212,964 |
|
Long-term debt |
691,869 |
|
|
— |
|
|
162 |
|
|
— |
|
|
692,031 |
|
Intercompany payable |
753,933 |
|
|
56,318 |
|
|
— |
|
|
(810,251 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
— |
|
|
— |
|
|
25,036 |
|
|
(25,036 |
) |
|
— |
|
Other long-term obligations |
8,621 |
|
|
— |
|
|
52,485 |
|
|
(11,726 |
) |
|
49,380 |
|
Shareholders’ equity attributable to Central Garden & Pet |
952,449 |
|
|
32,178 |
|
|
1,561,164 |
|
|
(1,593,342 |
) |
|
952,449 |
|
Noncontrolling interest |
— |
|
|
385 |
|
|
— |
|
|
— |
|
|
385 |
|
Total equity |
952,449 |
|
|
32,563 |
|
|
1,561,164 |
|
|
(1,593,342 |
) |
|
952,834 |
|
Total |
$ |
2,484,252 |
|
|
$ |
98,386 |
|
|
$ |
1,764,926 |
|
|
$ |
(2,440,355 |
) |
|
$ |
1,907,209 |
|
|
| Consolidating Condensed Statement of Cash Flows |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
Fiscal Year Ended September 28, 2019 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided by operating activities |
$ |
22,344 |
|
|
$ |
4,625 |
|
|
$ |
178,305 |
|
|
$ |
(300 |
) |
|
$ |
204,974 |
|
Additions to property, plant and equipment |
(3,926 |
) |
|
(4,779 |
) |
|
(22,872 |
) |
|
— |
|
|
(31,577 |
) |
Businesses acquired, net of cash acquired |
(41,161 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(41,161 |
) |
Investments |
(2,010 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,010 |
) |
Other investing activities |
(518 |
) |
|
— |
|
|
(997 |
) |
|
— |
|
|
(1,515 |
) |
Intercompany investing activities |
2,820 |
|
|
— |
|
|
(109,345 |
) |
|
106,525 |
|
|
— |
|
Net cash used by investing activities |
(44,795 |
) |
|
(4,779 |
) |
|
(133,214 |
) |
|
106,525 |
|
|
(76,263 |
) |
Repayments of long-term debt |
(121 |
) |
|
— |
|
|
(46,072 |
) |
|
— |
|
|
(46,193 |
) |
Repurchase of common stock |
(62,974 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(62,974 |
) |
Payment of deferred financing costs |
(1,352 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,352 |
) |
Payments of contingent consideration |
— |
|
|
— |
|
|
(170 |
) |
|
— |
|
|
(170 |
) |
Distribution to parent |
— |
|
|
(300 |
) |
|
— |
|
|
300 |
|
|
— |
|
Distribution to noncontrolling interest |
— |
|
|
(76 |
) |
|
— |
|
|
— |
|
|
(76 |
) |
Intercompany financing activities |
104,742 |
|
|
1,783 |
|
|
— |
|
|
(106,525 |
) |
|
— |
|
Net cash provided (used) by financing activities |
40,295 |
|
|
1,407 |
|
|
(46,242 |
) |
|
(106,225 |
) |
|
(110,765 |
) |
Effect of exchange rates on cash |
(411 |
) |
|
50 |
|
|
111 |
|
|
— |
|
|
(250 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
17,433 |
|
|
1,303 |
|
|
(1,040 |
) |
|
— |
|
|
17,696 |
|
Cash, cash equivalents and restricted cash at beginning of year |
485,109 |
|
|
6,005 |
|
|
1,891 |
|
|
— |
|
|
493,005 |
|
Cash, cash equivalents and restricted cash at end of year |
$ |
502,542 |
|
|
$ |
7,308 |
|
|
$ |
851 |
|
|
$ |
— |
|
|
$ |
510,701 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
Fiscal Year Ended September 29, 2018 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
$ |
(16,676 |
) |
|
$ |
(1,288 |
) |
|
$ |
138,463 |
|
|
$ |
(6,387 |
) |
|
$ |
114,112 |
|
Additions to property, plant and equipment |
(6,633 |
) |
|
(1,495 |
) |
|
(29,717 |
) |
|
— |
|
|
(37,845 |
) |
Businesses acquired, net of cash acquired |
(91,244 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(91,244 |
) |
Investments |
(9,048 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(9,048 |
) |
Other investing activities |
(2,745 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(2,745 |
) |
Intercompany investing activities |
(3,760 |
) |
|
— |
|
|
(107,749 |
) |
|
111,509 |
|
|
— |
|
Net cash used by investing activities |
(113,430 |
) |
|
(1,495 |
) |
|
(137,466 |
) |
|
111,509 |
|
|
(140,882 |
) |
Repayments on revolving line of credit |
(23,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(23,000 |
) |
Borrowings on revolving line of credit |
23,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
23,000 |
|
Repayments of long-term debt |
(56 |
) |
|
— |
|
|
(375 |
) |
|
— |
|
|
(431 |
) |
Issuance of long-term debt |
300,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
300,000 |
|
Proceeds from issuance of common stock |
195,631 |
|
|
— |
|
|
— |
|
|
— |
|
|
195,631 |
|
Repurchase of common stock |
(13,797 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(13,797 |
) |
Payments of contingent consideration |
— |
|
|
— |
|
|
(253 |
) |
|
— |
|
|
(253 |
) |
Payment of deferred financing costs |
(4,770 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,770 |
) |
Distribution to parent |
— |
|
|
(6,387 |
) |
|
— |
|
|
6,387 |
|
|
— |
|
Distribution to noncontrolling interest |
— |
|
|
(1,597 |
) |
|
— |
|
|
— |
|
|
(1,597 |
) |
Intercompany financing activities |
106,525 |
|
|
4,984 |
|
|
— |
|
|
(111,509 |
) |
|
— |
|
Net cash provided (used) by financing activities |
583,533 |
|
|
(3,000 |
) |
|
(628 |
) |
|
(105,122 |
) |
|
474,783 |
|
Effect of exchange rates on cash |
(201 |
) |
|
95 |
|
|
56 |
|
|
— |
|
|
(50 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
453,226 |
|
|
(5,688 |
) |
|
425 |
|
|
— |
|
|
447,963 |
|
Cash, cash equivalents and restricted cash at beginning of year |
31,883 |
|
|
11,693 |
|
|
1,466 |
|
|
— |
|
|
45,042 |
|
Cash, cash equivalents and restricted cash at end of year |
$ |
485,109 |
|
|
$ |
6,005 |
|
|
$ |
1,891 |
|
|
$ |
— |
|
|
$ |
493,005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
Fiscal Year Ended September 30, 2017 |
|
(in thousands) |
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash (used) provided by operating activities |
$ |
(7,418 |
) |
|
$ |
2,846 |
|
|
$ |
122,957 |
|
|
$ |
(4,076 |
) |
|
$ |
114,309 |
|
Additions to property, plant and equipment |
(9,419 |
) |
|
(805 |
) |
|
(34,435 |
) |
|
— |
|
|
(44,659 |
) |
Businesses acquired, net of cash acquired |
(103,880 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(103,880 |
) |
Proceeds from asset sales |
229 |
|
|
— |
|
|
8,318 |
|
|
— |
|
|
8,547 |
|
Escrow deposit for acquisition related-contingent consideration |
(6,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(6,000 |
) |
Investments |
(12,495 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(12,495 |
) |
Other investing activities |
(4,355 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,355 |
) |
Intercompany investing activities |
(3,828 |
) |
|
— |
|
|
(94,763 |
) |
|
98,591 |
|
|
— |
|
Net cash used by investing activities |
(139,748 |
) |
|
(805 |
) |
|
(120,880 |
) |
|
98,591 |
|
|
(162,842 |
) |
Repayments on revolving line of credit |
(552,000 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(552,000 |
) |
Borrowings on revolving line of credit |
552,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
552,000 |
|
Repayments of long-term debt |
(89 |
) |
|
— |
|
|
(374 |
) |
|
— |
|
|
(463 |
) |
Excess tax benefits from stock-based awards |
19,946 |
|
|
— |
|
|
— |
|
|
— |
|
|
19,946 |
|
Repurchase of common stock |
(27,556 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(27,556 |
) |
Payments of contingent consideration |
— |
|
|
|
|
|
(1,300 |
) |
|
|
|
|
(1,300 |
) |
Distribution to parent |
— |
|
|
(4,076 |
) |
|
— |
|
|
4,076 |
|
|
— |
|
Distribution to noncontrolling interest |
— |
|
|
(1,019 |
) |
|
— |
|
|
— |
|
|
(1,019 |
) |
Intercompany financing activities |
93,445 |
|
|
5,146 |
|
|
— |
|
|
(98,591 |
) |
|
— |
|
Net cash provided (used) by financing activities |
85,746 |
|
|
51 |
|
|
(1,674 |
) |
|
(94,515 |
) |
|
(10,392 |
) |
Effect of exchange rates on cash |
235 |
|
|
(94 |
) |
|
(66 |
) |
|
— |
|
|
75 |
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
(61,185 |
) |
|
1,998 |
|
|
337 |
|
|
— |
|
|
(58,850 |
) |
Cash, cash equivalents and restricted cash at beginning of year |
93,068 |
|
|
9,695 |
|
|
1,129 |
|
|
— |
|
|
103,892 |
|
Cash, cash equivalents and restricted cash at end of year |
31,883 |
|
|
11,693 |
|
|
1,466 |
|
|
— |
|
|
45,042 |
|
|