| Segment Information |
10. Segment Information
Management has determined that the Company has two operating segments which are also reportable segments based on the level at which the Chief Operating Decision Maker reviews the results of operations to make decisions regarding performance assessment and resource allocation. These operating segments are Pet Products and Garden Products and are presented in the table below (in thousands).
| |
|
|
$000,000 |
|
|
|
$000,000 |
|
|
|
$000,000 |
|
|
|
$000,000 |
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
|
| |
|
March 26,
2011 |
|
|
March 24,
2012 |
|
|
March 26,
2011 |
|
|
March 24,
2012 |
|
|
Net sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pet Products
|
|
$ |
225,408 |
|
|
$ |
222,487 |
|
|
$ |
412,208 |
|
|
$ |
421,769 |
|
|
Garden Products
|
|
|
260,316 |
|
|
|
244,416 |
|
|
|
355,235 |
|
|
|
347,200 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total net sales
|
|
$ |
485,724 |
|
|
$ |
466,903 |
|
|
$ |
767,443 |
|
|
$ |
768,969 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pet Products
|
|
$ |
23,355 |
|
|
$ |
21,010 |
|
|
$ |
34,764 |
|
|
$ |
30,699 |
|
|
Garden Products
|
|
|
46,921 |
|
|
|
36,615 |
|
|
|
38,938 |
|
|
|
25,530 |
|
|
Corporate
|
|
|
(10,646 |
) |
|
|
(12,403 |
) |
|
|
(20,555 |
) |
|
|
(22,287 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total income from operations
|
|
|
59,630 |
|
|
|
45,222 |
|
|
|
53,147 |
|
|
|
33,942 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense – net
|
|
|
(9,283 |
) |
|
|
(10,440 |
) |
|
|
(18,189 |
) |
|
|
(19,959 |
) |
|
Other income (expense)
|
|
|
204 |
|
|
|
(7 |
) |
|
|
(202 |
) |
|
|
(121 |
) |
|
Income taxes
|
|
|
18,190 |
|
|
|
12,808 |
|
|
|
12,073 |
|
|
|
5,162 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income including noncontrolling interest
|
|
|
32,361 |
|
|
|
21,967 |
|
|
|
22,683 |
|
|
|
8,700 |
|
|
Net income attributable to noncontrolling interest
|
|
|
595 |
|
|
|
344 |
|
|
|
509 |
|
|
|
167 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet Company
|
|
$ |
31,766 |
|
|
$ |
21,623 |
|
|
$ |
22,174 |
|
|
$ |
8,533 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pet Products
|
|
$ |
3,673 |
|
|
$ |
3,616 |
|
|
$ |
7,341 |
|
|
$ |
7,202 |
|
|
Garden Products
|
|
|
1,493 |
|
|
|
1,590 |
|
|
|
2,923 |
|
|
|
3,138 |
|
|
Corporate
|
|
|
1,999 |
|
|
|
2,402 |
|
|
|
3,946 |
|
|
|
4,712 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total depreciation and amortization
|
|
$ |
7,165 |
|
|
$ |
7,608 |
|
|
$ |
14,210 |
|
|
$ |
15,052 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
$000,000 |
|
|
|
$000,000 |
|
|
|
$000,000 |
|
|
$000,000 |
| |
|
March 26,
2011
|
|
|
March 24,
2012
|
|
|
September 24,
2012 |
|
|
|
|
Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pet Products
|
|
$ |
427,530 |
|
|
$ |
422,035 |
|
|
$ |
396,637 |
|
|
|
|
Garden Products
|
|
|
526,094 |
|
|
|
496,003 |
|
|
|
350,234 |
|
|
|
|
Corporate
|
|
|
318,933 |
|
|
|
342,036 |
|
|
|
346,132 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
1,272,557 |
|
|
$ |
1,260,074 |
|
|
$ |
1,093,003 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goodwill (included in corporate assets above):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pet Products
|
|
$ |
201,639 |
|
|
$ |
202,513 |
|
|
$ |
202,514 |
|
|
|
|
Garden Products
|
|
|
7,909 |
|
|
|
7,710 |
|
|
|
7,709 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total goodwill
|
|
$ |
209,548 |
|
|
$ |
210,223 |
|
|
$ |
210,223 |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|