Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)
|
9 Months Ended |
Jun. 23, 2012
|
Consolidating Condensed Financial Information of Guarantor Subsidiaries [Abstract] |
|
Condensed Statement of Operations based on the Company's understanding of the SEC's Interpretation |
|
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|
|
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|
|
|
|
|
|
|
|
|
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|
Parent |
|
|
Guarantor Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
161,734 |
|
|
$ |
398,615 |
|
|
$ |
(26,541 |
) |
|
$ |
533,808 |
|
Cost of products sold and occupancy
|
|
|
111,510 |
|
|
|
268,187 |
|
|
|
(26,541 |
) |
|
|
353,156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
50,224 |
|
|
|
130,428 |
|
|
|
0 |
|
|
|
180,652 |
|
Selling, general and administrative expenses
|
|
|
41,061 |
|
|
|
90,622 |
|
|
|
0 |
|
|
|
131,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
9,163 |
|
|
|
39,806 |
|
|
|
0 |
|
|
|
48,969 |
|
Interest – net
|
|
|
(10,727 |
) |
|
|
32 |
|
|
|
0 |
|
|
|
(10,695 |
) |
Other income (loss)
|
|
|
(4,494 |
) |
|
|
4,596 |
|
|
|
0 |
|
|
|
102 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
|
(6,058 |
) |
|
|
44,434 |
|
|
|
0 |
|
|
|
38,376 |
|
Income taxes (tax benefit)
|
|
|
(2,361 |
) |
|
|
16,915 |
|
|
|
0 |
|
|
|
14,554 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) including noncontrolling interest
|
|
|
(3,697 |
) |
|
|
27,519 |
|
|
|
0 |
|
|
|
23,822 |
|
Income attributable to noncontrolling interest
|
|
|
1,123 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,123 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor
subsidiaries
|
|
|
(4,820 |
) |
|
|
27,519 |
|
|
|
0 |
|
|
|
22,699 |
|
Equity in undistributed income of guarantor subsidiaries
|
|
|
27,519 |
|
|
|
0 |
|
|
|
(27,519 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet Co.
|
|
$ |
22,699 |
|
|
$ |
27,519 |
|
|
$ |
(27,519 |
) |
|
$ |
22,699 |
|
|
|
|
|
|
|
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|
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|
CONSOLIDATING
CONDENSED STATEMENT OF OPERATIONS
Three Months Ended June 25, 2011
(in thousands)
(unaudited)
|
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|
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|
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|
Parent |
|
|
Guarantor Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
157,449 |
|
|
$ |
358,384 |
|
|
$ |
(31,530 |
) |
|
$ |
484,303 |
|
Cost of products sold and occupancy
|
|
|
118,876 |
|
|
|
247,568 |
|
|
|
(31,530 |
) |
|
|
334,914 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
38,573 |
|
|
|
110,816 |
|
|
|
0 |
|
|
|
149,389 |
|
Selling, general and administrative expenses
|
|
|
38,002 |
|
|
|
74,793 |
|
|
|
0 |
|
|
|
112,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
571 |
|
|
|
36,023 |
|
|
|
0 |
|
|
|
36,594 |
|
Interest – net
|
|
|
(9,947 |
) |
|
|
139 |
|
|
|
0 |
|
|
|
(9,808 |
) |
Other income (loss )
|
|
|
(576 |
) |
|
|
894 |
|
|
|
0 |
|
|
|
318 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
|
(9,952 |
) |
|
|
37,056 |
|
|
|
0 |
|
|
|
27,104 |
|
Income taxes (tax benefit)
|
|
|
(3,629 |
) |
|
|
13,508 |
|
|
|
0 |
|
|
|
9,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) including noncontrolling interest
|
|
|
(6,323 |
) |
|
|
23,548 |
|
|
|
0 |
|
|
|
17,225 |
|
Income attributable to noncontrolling interest
|
|
|
144 |
|
|
|
0 |
|
|
|
0 |
|
|
|
144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor
subsidiaries
|
|
|
(6,467 |
) |
|
|
23,548 |
|
|
|
0 |
|
|
|
17,081 |
|
Equity in undistributed income of guarantor subsidiaries
|
|
|
23,548 |
|
|
|
0 |
|
|
|
(23,548 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet Co.
|
|
$ |
17,081 |
|
|
$ |
23,548 |
|
|
$ |
(23,548 |
) |
|
$ |
17,081 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
Nine Months Ended June 23, 2012
(in thousands)
(unaudited)
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
|
|
Net sales
|
|
$ |
416,119 |
|
|
$ |
952,470 |
|
|
$ |
(65,812 |
) |
|
$ |
1,302,777 |
|
|
|
Cost of products sold and occupancy
|
|
|
298,413 |
|
|
|
661,090 |
|
|
|
(65,812 |
) |
|
|
893,691 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
117,706 |
|
|
|
291,380 |
|
|
|
0 |
|
|
|
409,086 |
|
|
|
Selling, general and administrative expenses
|
|
|
103,123 |
|
|
|
223,052 |
|
|
|
0 |
|
|
|
326,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
14,583 |
|
|
|
68,328 |
|
|
|
0 |
|
|
|
82,911 |
|
|
|
Interest – net
|
|
|
(30,769 |
) |
|
|
115 |
|
|
|
0 |
|
|
|
(30,654 |
) |
|
|
Other income (expense)
|
|
|
(5,161 |
) |
|
|
5,142 |
|
|
|
0 |
|
|
|
(19 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
|
(21,347 |
) |
|
|
73,585 |
|
|
|
0 |
|
|
|
52,238 |
|
|
|
Income tax (tax benefit)
|
|
|
(7,962 |
) |
|
|
27,678 |
|
|
|
0 |
|
|
|
19,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) including noncontrolling interest
|
|
|
(13,385 |
) |
|
|
45,907 |
|
|
|
0 |
|
|
|
32,522 |
|
|
|
Income attributable to noncontrolling interest
|
|
|
1,290 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,290 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor
subsidiaries
|
|
|
(14,675 |
) |
|
|
45,907 |
|
|
|
0 |
|
|
|
31,232 |
|
|
|
Equity in undistributed income of guarantor subsidiaries
|
|
|
45,907 |
|
|
|
0 |
|
|
|
(45,907 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet Co.
|
|
$ |
31,232 |
|
|
$ |
45,907 |
|
|
$ |
(45,907 |
) |
|
$ |
31,232 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING
CONDENSED STATEMENT OF OPERATIONS
Nine Months Ended June 25, 2011
(in thousands)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries
|
|
|
Eliminations |
|
|
Consolidated |
|
Net sales
|
|
$ |
392,617 |
|
|
$ |
966,295 |
|
|
$ |
(107,166 |
) |
|
$ |
1,251,746 |
|
Cost of products sold and occupancy
|
|
|
290,338 |
|
|
|
672,859 |
|
|
|
(107,166 |
) |
|
|
856,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit
|
|
|
102,279 |
|
|
|
293,436 |
|
|
|
0 |
|
|
|
395,715 |
|
Selling, general and administrative expenses
|
|
|
97,411 |
|
|
|
208,563 |
|
|
|
0 |
|
|
|
305,974 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from operations
|
|
|
4,868 |
|
|
|
84,873 |
|
|
|
0 |
|
|
|
89,741 |
|
Interest – net
|
|
|
(28,303 |
) |
|
|
306 |
|
|
|
0 |
|
|
|
(27,997 |
) |
Other income (loss)
|
|
|
(2,611 |
) |
|
|
2,727 |
|
|
|
0 |
|
|
|
116 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
|
(26,046 |
) |
|
|
87,906 |
|
|
|
0 |
|
|
|
61,860 |
|
Income taxes (tax benefit)
|
|
|
(9,166 |
) |
|
|
31,118 |
|
|
|
0 |
|
|
|
21,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) including noncontrolling interest
|
|
|
(16,880 |
) |
|
|
56,788 |
|
|
|
0 |
|
|
|
39,908 |
|
Income attributable to noncontrolling interest
|
|
|
653 |
|
|
|
0 |
|
|
|
0 |
|
|
|
653 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor
subsidiaries
|
|
|
(17,533 |
) |
|
|
56,788 |
|
|
|
0 |
|
|
|
39,255 |
|
Equity in undistributed income of guarantor subsidiaries
|
|
|
56,788 |
|
|
|
0 |
|
|
|
(56,788 |
) |
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to Central Garden & Pet Co.
|
|
$ |
39,255 |
|
|
$ |
56,788 |
|
|
$ |
(56,788 |
) |
|
$ |
39,255 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Balance Sheet based on the Company's understanding of the SEC Interpretation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
35,163 |
|
|
$ |
5,536 |
|
|
$ |
0 |
|
|
$ |
40,699 |
|
Short term investments
|
|
|
17,820 |
|
|
|
0 |
|
|
|
0 |
|
|
|
17,820 |
|
Accounts receivable, net
|
|
|
82,218 |
|
|
|
173,163 |
|
|
|
(9,601 |
) |
|
|
245,780 |
|
Inventories
|
|
|
102,751 |
|
|
|
232,045 |
|
|
|
0 |
|
|
|
334,796 |
|
Prepaid expenses and other assets
|
|
|
18,922 |
|
|
|
27,185 |
|
|
|
0 |
|
|
|
46,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
256,874 |
|
|
|
437,929 |
|
|
|
(9,601 |
) |
|
|
685,202 |
|
Land, buildings, improvements and equipment, net
|
|
|
78,025 |
|
|
|
107,200 |
|
|
|
0 |
|
|
|
185,225 |
|
Goodwill
|
|
|
0 |
|
|
|
210,223 |
|
|
|
0 |
|
|
|
210,223 |
|
Investment in guarantors
|
|
|
663,351 |
|
|
|
0 |
|
|
|
(663,351 |
) |
|
|
0 |
|
Deferred income taxes and other assets
|
|
|
40,053 |
|
|
|
59,015 |
|
|
|
0 |
|
|
|
99,068 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,038,303 |
|
|
$ |
814,367 |
|
|
$ |
(672,952 |
) |
|
$ |
1,179,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
37,202 |
|
|
$ |
97,510 |
|
|
$ |
(9,601 |
) |
|
$ |
125,111 |
|
Accrued expenses and other current liabilities
|
|
|
56,175 |
|
|
|
50,990 |
|
|
|
0 |
|
|
|
107,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
93,377 |
|
|
|
148,500 |
|
|
|
(9,601 |
) |
|
|
232,276 |
|
Long-term debt
|
|
|
449,406 |
|
|
|
124 |
|
|
|
0 |
|
|
|
449,530 |
|
Other long-term obligations
|
|
|
21,086 |
|
|
|
2,392 |
|
|
|
0 |
|
|
|
23,478 |
|
Shareholders’ equity attributable to Central Garden & Pet Co.
|
|
|
473,138 |
|
|
|
663,351 |
|
|
|
(663,351 |
) |
|
|
473,138 |
|
Noncontrolling interest
|
|
|
1,296 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
474,434 |
|
|
|
663,351 |
|
|
|
(663,351 |
) |
|
|
474,434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,038,303 |
|
|
$ |
814,367 |
|
|
$ |
(672,952 |
) |
|
$ |
1,179,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING
CONDENSED BALANCE SHEET
June 25, 2011
(in thousands)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
10,121 |
|
|
$ |
1,112 |
|
|
$ |
0 |
|
|
$ |
11,233 |
|
Short term investments
|
|
|
15,320 |
|
|
|
0 |
|
|
|
0 |
|
|
|
15,320 |
|
Accounts receivable, net
|
|
|
79,252 |
|
|
|
185,662 |
|
|
|
(7,496 |
) |
|
|
257,418 |
|
Inventories
|
|
|
114,828 |
|
|
|
228,960 |
|
|
|
0 |
|
|
|
343,788 |
|
Prepaid expenses and other assets
|
|
|
17,502 |
|
|
|
22,593 |
|
|
|
0 |
|
|
|
40,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
237,023 |
|
|
|
438,327 |
|
|
|
(7,496 |
) |
|
|
667,854 |
|
Land, buildings, improvements and equipment, net
|
|
|
69,255 |
|
|
|
101,932 |
|
|
|
0 |
|
|
|
171,187 |
|
Goodwill
|
|
|
0 |
|
|
|
209,348 |
|
|
|
0 |
|
|
|
209,348 |
|
Investment in guarantors
|
|
|
707,281 |
|
|
|
0 |
|
|
|
(707,281 |
) |
|
|
0 |
|
Other assets
|
|
|
24,965 |
|
|
|
82,378 |
|
|
|
0 |
|
|
|
107,343 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,038,524 |
|
|
$ |
831,985 |
|
|
$ |
(714,777 |
) |
|
$ |
1,155,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
37,472 |
|
|
$ |
85,404 |
|
|
$ |
(7,496 |
) |
|
$ |
115,380 |
|
Accrued expenses and other liabilities
|
|
|
55,413 |
|
|
|
37,463 |
|
|
|
0 |
|
|
|
92,876 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
92,885 |
|
|
|
122,867 |
|
|
|
(7,496 |
) |
|
|
208,256 |
|
Long-term debt
|
|
|
450,163 |
|
|
|
103 |
|
|
|
0 |
|
|
|
450,266 |
|
Other long-term obligations
|
|
|
2,370 |
|
|
|
1,734 |
|
|
|
0 |
|
|
|
4,104 |
|
Shareholders’ equity attributable to Central Garden & Pet Co.
|
|
|
492,506 |
|
|
|
707,281 |
|
|
|
(707,281 |
) |
|
|
492,506 |
|
Noncontrolling interest
|
|
|
600 |
|
|
|
0 |
|
|
|
0 |
|
|
|
600 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
493,106 |
|
|
|
707,281 |
|
|
|
(707,281 |
) |
|
|
493,106 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
1,038,524 |
|
|
$ |
831,985 |
|
|
$ |
(714,777 |
) |
|
$ |
1,155,732 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING
CONDENSED BALANCE SHEET
September 24, 2011
(in thousands)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
10,633 |
|
|
$ |
1,398 |
|
|
$ |
0 |
|
|
$ |
12,031 |
|
Short term investments
|
|
|
17,820 |
|
|
|
0 |
|
|
|
0 |
|
|
|
17,820 |
|
Accounts receivable, net
|
|
|
47,698 |
|
|
|
153,306 |
|
|
|
(5,587 |
) |
|
|
195,417 |
|
Inventories
|
|
|
102,861 |
|
|
|
226,685 |
|
|
|
0 |
|
|
|
329,546 |
|
Prepaid expenses and other assets
|
|
|
29,077 |
|
|
|
18,695 |
|
|
|
0 |
|
|
|
47,772 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
208,089 |
|
|
|
400,084 |
|
|
|
(5,587 |
) |
|
|
602,586 |
|
Land, buildings, improvements and equipment, net
|
|
|
72,505 |
|
|
|
103,897 |
|
|
|
0 |
|
|
|
176,402 |
|
Goodwill
|
|
|
0 |
|
|
|
210,223 |
|
|
|
0 |
|
|
|
210,223 |
|
Investment in guarantors
|
|
|
645,876 |
|
|
|
0 |
|
|
|
(645,876 |
) |
|
|
0 |
|
Other assets
|
|
|
38,622 |
|
|
|
65,170 |
|
|
|
0 |
|
|
|
103,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
965,092 |
|
|
$ |
779,374 |
|
|
$ |
(651,463 |
) |
|
$ |
1,093,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$ |
28,072 |
|
|
$ |
94,039 |
|
|
$ |
(5,587 |
) |
|
$ |
116,524 |
|
Accrued expenses and other liabilities
|
|
|
37,825 |
|
|
|
37,582 |
|
|
|
0 |
|
|
|
75,407 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
65,897 |
|
|
|
131,621 |
|
|
|
(5,587 |
) |
|
|
191,931 |
|
Long-term debt
|
|
|
435,245 |
|
|
|
85 |
|
|
|
0 |
|
|
|
435,330 |
|
Other long-term obligations
|
|
|
7,168 |
|
|
|
1,792 |
|
|
|
0 |
|
|
|
8,960 |
|
Shareholders’ equity attributable to Central Garden & Pet Co.
|
|
|
456,776 |
|
|
|
645,876 |
|
|
|
(645,876 |
) |
|
|
456,776 |
|
Noncontrolling interest
|
|
|
6 |
|
|
|
0 |
|
|
|
0 |
|
|
|
6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
456,782 |
|
|
|
645,876 |
|
|
|
(645,876 |
) |
|
|
456,782 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
965,092 |
|
|
$ |
779,374 |
|
|
$ |
(651,463 |
) |
|
$ |
1,093,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Condensed Cash Flows Statement on the Company's understanding of the SEC Interpretation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Net cash provided by operating activities
|
|
$ |
64,057 |
|
|
$ |
46,004 |
|
|
$ |
(45,907 |
) |
|
$ |
64,154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to property and equipment
|
|
|
(13,607 |
) |
|
|
(13,323 |
) |
|
|
0 |
|
|
|
(26,930 |
) |
Investment in guarantor subsidiaries
|
|
|
(17,475 |
) |
|
|
(28,432 |
) |
|
|
45,907 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used by investing activities
|
|
|
(31,082 |
) |
|
|
(41,755 |
) |
|
|
45,907 |
|
|
|
(26,930 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from issuance of long-term debt
|
|
|
49,288 |
|
|
|
0 |
|
|
|
0 |
|
|
|
49,288 |
|
Repayments of long-term debt
|
|
|
(175 |
) |
|
|
(91 |
) |
|
|
0 |
|
|
|
(266 |
) |
Borrowings under revolving line of credit
|
|
|
304,000 |
|
|
|
0 |
|
|
|
0 |
|
|
|
304,000 |
|
Repayments under revolving line of credit
|
|
|
(339,000 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(339,000 |
) |
Repurchase of common stock
|
|
|
(23,151 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(23,151 |
) |
Proceeds from issuance of common stock
|
|
|
1,291 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,291 |
|
Deferred financing costs
|
|
|
(1,715 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(1,715 |
) |
Excess tax benefits from stock-based awards
|
|
|
938 |
|
|
|
0 |
|
|
|
0 |
|
|
|
938 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used by financing activities
|
|
|
(8,524 |
) |
|
|
(91 |
) |
|
|
0 |
|
|
|
(8,615 |
) |
Effect of exchange rate changes on cash
|
|
|
79 |
|
|
|
(20 |
) |
|
|
0 |
|
|
|
59 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents
|
|
|
24,530 |
|
|
|
4,138 |
|
|
|
0 |
|
|
|
28,668 |
|
Cash and cash equivalents at beginning of period
|
|
|
10,633 |
|
|
|
1,398 |
|
|
|
0 |
|
|
|
12,031 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
35,163 |
|
|
$ |
5,536 |
|
|
$ |
0 |
|
|
$ |
40,699 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING
CONDENSED STATEMENT OF CASH FLOWS
Nine Months Ended June 25, 2011
(in thousands)
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Parent |
|
|
Guarantor Subsidiaries |
|
|
Eliminations |
|
|
Consolidated |
|
Net cash provided by operating activities
|
|
$ |
61,141 |
|
|
$ |
(5,856 |
) |
|
$ |
(56,788 |
) |
|
$ |
(1,503 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additions to property and equipment
|
|
|
(10,901 |
) |
|
|
(9,290 |
) |
|
|
0 |
|
|
|
(20,191 |
) |
Businesses acquired, net of cash acquired
|
|
|
(23,403 |
) |
|
|
(1,029 |
) |
|
|
0 |
|
|
|
(24,432 |
) |
Investment in guarantor subsidiaries
|
|
|
(73,372 |
) |
|
|
16,584 |
|
|
|
56,788 |
|
|
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided (used by) investing activities
|
|
|
(107,676 |
) |
|
|
6,265 |
|
|
|
56,788 |
|
|
|
(44,623 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments of long-term debt
|
|
|
(93 |
) |
|
|
(128 |
) |
|
|
0 |
|
|
|
(221 |
) |
Proceeds from revolver
|
|
|
593,000 |
|
|
|
0 |
|
|
|
0 |
|
|
|
593,000 |
|
Repayments of revolver
|
|
|
(543,000 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(543,000 |
) |
Repurchase of common stock
|
|
|
(83,602 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(83,602 |
) |
Proceeds from issuance of common stock
|
|
|
1,436 |
|
|
|
0 |
|
|
|
0 |
|
|
|
1,436 |
|
Payment of financing costs
|
|
|
(1,034 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(1,034 |
) |
Excess tax benefits from stock-based awards
|
|
|
791 |
|
|
|
0 |
|
|
|
0 |
|
|
|
791 |
|
Distribution to noncontrolling interest
|
|
|
(1,500 |
) |
|
|
0 |
|
|
|
0 |
|
|
|
(1,500 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used by financing activities
|
|
|
(34,002 |
) |
|
|
(128 |
) |
|
|
0 |
|
|
|
(34,130 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash
|
|
|
394 |
|
|
|
(365 |
) |
|
|
0 |
|
|
|
29 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net decrease in cash and cash equivalents
|
|
|
(80,143 |
) |
|
|
(84 |
) |
|
|
0 |
|
|
|
(80,227 |
) |
Cash and cash equivalents at beginning of period
|
|
|
90,265 |
|
|
|
1,195 |
|
|
|
0 |
|
|
|
91,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
10,122 |
|
|
$ |
1,111 |
|
|
$ |
0 |
|
|
$ |
11,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|