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).
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Three Months Ended |
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Nine Months Ended |
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June 25, 2011
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June 23, 2012
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June 25, 2011
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June 23, 2012
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Net sales:
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Pet Products
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$ |
227,256 |
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$ |
271,345 |
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$ |
639,464 |
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$ |
693,114 |
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Garden Products
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257,047 |
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262,463 |
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612,282 |
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609,663 |
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Total net sales
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$ |
484,303 |
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$ |
533,808 |
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$ |
1,251,746 |
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$ |
1,302,777 |
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Income from operations:
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Pet Products
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$ |
27,214 |
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$ |
40,454 |
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$ |
61,978 |
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$ |
71,153 |
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Garden Products
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17,962 |
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22,581 |
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56,900 |
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48,111 |
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Corporate
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(8,582 |
) |
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(14,066 |
) |
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(29,137 |
) |
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(36,353 |
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Total income from operations
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36,594 |
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48,969 |
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89,741 |
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82,911 |
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Interest expense – net
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(9,808 |
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(10,695 |
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(27,997 |
) |
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(30,654 |
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Other income (expense)
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318 |
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102 |
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116 |
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(19 |
) |
Income taxes
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9,879 |
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14,554 |
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21,952 |
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19,716 |
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Income including noncontrolling interest
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17,225 |
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23,822 |
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39,908 |
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32,522 |
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Net income attributable to noncontrolling interest
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144 |
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1,123 |
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653 |
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1,290 |
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Net income attributable to Central Garden & Pet Company
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$ |
17,081 |
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$ |
22,699 |
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$ |
39,255 |
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$ |
31,232 |
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Depreciation and amortization:
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Pet Products
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$ |
3,576 |
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$ |
3,702 |
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$ |
10,917 |
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$ |
10,904 |
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Garden Products
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1,552 |
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1,920 |
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4,475 |
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5,058 |
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Corporate
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1,978 |
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2,402 |
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5,924 |
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7,114 |
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Total depreciation and amortization
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$ |
7,106 |
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$ |
8,024 |
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$ |
21,316 |
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$ |
23,076 |
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June 25, 2011
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June 23, 2012
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September 24, 2011 |
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Assets:
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Pet Products
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$ |
422,364 |
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$ |
432,342 |
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$ |
396,637 |
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Garden Products
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404,523 |
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384,502 |
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350,234 |
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Corporate
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328,845 |
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362,874 |
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346,132 |
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Total assets
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$ |
1,155,732 |
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$ |
1,179,718 |
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$ |
1,093,003 |
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Goodwill (included in corporate assets above):
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Pet Products
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$ |
201,639 |
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$ |
202,514 |
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$ |
202,514 |
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Garden Products
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7,709 |
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7,709 |
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7,709 |
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Total goodwill
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$ |
209,348 |
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$ |
210,223 |
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$ |
210,223 |
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