Segment Information |
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 segment and Garden segment and are presented in the table below (in thousands).
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Three Months Ended |
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Six Months Ended |
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March 26, 2016 |
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March 28, 2015 |
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March 26, 2016 |
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March 28, 2015 |
Net sales: |
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Pet segment |
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$ |
275,328 |
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$ |
221,485 |
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$ |
523,990 |
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$ |
420,805 |
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Garden segment |
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265,921 |
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276,117 |
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377,071 |
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384,117 |
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Total net sales |
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$ |
541,249 |
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$ |
497,602 |
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$ |
901,061 |
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$ |
804,922 |
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Income (loss) from operations: |
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Pet segment |
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32,409 |
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27,051 |
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58,604 |
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47,626 |
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Garden segment |
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44,407 |
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39,325 |
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41,153 |
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35,790 |
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Corporate |
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(17,413 |
) |
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(16,405 |
) |
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(31,581 |
) |
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(32,307 |
) |
Total income from operations |
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59,403 |
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49,971 |
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68,176 |
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51,109 |
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Interest expense - net |
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(7,087 |
) |
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(11,858 |
) |
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(29,210 |
) |
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(22,290 |
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Other expense |
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(88 |
) |
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(121 |
) |
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(561 |
) |
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(489 |
) |
Income tax expense |
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18,793 |
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14,012 |
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13,593 |
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10,043 |
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Income including noncontrolling interest |
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33,435 |
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23,980 |
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24,812 |
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18,287 |
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Net income attributable to noncontrolling interest |
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738 |
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743 |
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717 |
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747 |
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Net income attributable to Central Garden & Pet Company |
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$ |
32,697 |
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$ |
23,237 |
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$ |
24,095 |
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$ |
17,540 |
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Depreciation and amortization: |
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Pet segment |
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$ |
4,956 |
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3,878 |
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$ |
9,420 |
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$ |
7,819 |
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Garden segment |
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1,359 |
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1,483 |
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3,044 |
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3,049 |
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Corporate |
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2,854 |
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2,989 |
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5,738 |
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5,946 |
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Total depreciation and amortization |
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$ |
9,169 |
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$ |
8,350 |
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$ |
18,202 |
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$ |
16,814 |
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March 26, 2016 |
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March 28, 2015 |
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September 26, 2015 |
Assets: |
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Pet segment |
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$ |
538,901 |
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$ |
450,240 |
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$ |
465,171 |
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Garden segment |
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467,026 |
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490,514 |
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310,981 |
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Corporate |
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317,172 |
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328,443 |
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355,445 |
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Total assets |
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$ |
1,323,099 |
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$ |
1,269,197 |
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$ |
1,131,597 |
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Goodwill (included in corporate assets above): |
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Pet segment |
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$ |
210,455 |
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$ |
209,089 |
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$ |
209,089 |
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Garden segment |
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3,298 |
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— |
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— |
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Total goodwill |
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$ |
213,753 |
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$ |
209,089 |
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$ |
209,089 |
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