Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables)
|
3 Months Ended |
Dec. 29, 2018 |
Condensed Financial Information Disclosure [Abstract] |
|
Consolidating Condensed Statement of Operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
|
Three Months Ended December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
173,406 |
|
|
$ |
23,629 |
|
|
$ |
279,834 |
|
|
$ |
(14,879 |
) |
|
$ |
461,990 |
|
Cost of goods sold and occupancy |
|
136,013 |
|
|
22,003 |
|
|
187,683 |
|
|
(13,891 |
) |
|
331,808 |
|
Gross profit |
|
37,393 |
|
|
1,626 |
|
|
92,151 |
|
|
(988 |
) |
|
130,182 |
|
Selling, general and administrative expenses |
|
43,665 |
|
|
7,351 |
|
|
69,973 |
|
|
(988 |
) |
|
120,001 |
|
Operating income (loss) |
|
(6,272 |
) |
|
(5,725 |
) |
|
22,178 |
|
|
— |
|
|
10,181 |
|
Interest expense |
|
(10,497 |
) |
|
(114 |
) |
|
(3 |
) |
|
|
|
(10,614 |
) |
Interest income |
|
2,533 |
|
|
4 |
|
|
— |
|
|
|
|
2,537 |
|
Other (expense) income |
|
37 |
|
|
(216 |
) |
|
(13 |
) |
|
|
|
(192 |
) |
Income (loss) before taxes and equity in earnings (losses) of affiliates |
|
(14,199 |
) |
|
(6,051 |
) |
|
22,162 |
|
|
— |
|
|
1,912 |
|
Income tax expense (benefit) |
|
(2,088 |
) |
|
(256 |
) |
|
2,617 |
|
|
|
|
273 |
|
Equity in earnings (losses) of affiliates |
|
13,914 |
|
|
— |
|
|
(1,112 |
) |
|
(12,802 |
) |
|
— |
|
Net income (loss) including noncontrolling interest |
|
1,803 |
|
|
(5,795 |
) |
|
18,433 |
|
|
(12,802 |
) |
|
1,639 |
|
Net loss attributable to noncontrolling interest |
|
— |
|
|
(164 |
) |
|
— |
|
|
— |
|
|
(164 |
) |
Net income (loss) attributable to Central Garden & Pet Company |
|
$ |
1,803 |
|
|
$ |
(5,631 |
) |
|
$ |
18,433 |
|
|
$ |
(12,802 |
) |
|
$ |
1,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS |
|
|
Three Months Ended December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net sales |
|
$ |
159,061 |
|
|
$ |
13,743 |
|
|
$ |
286,424 |
|
|
$ |
(17,217 |
) |
|
$ |
442,011 |
|
Cost of goods sold and occupancy |
|
125,479 |
|
|
11,816 |
|
|
189,051 |
|
|
(16,172 |
) |
|
310,174 |
|
Gross profit |
|
33,582 |
|
|
1,927 |
|
|
97,373 |
|
|
(1,045 |
) |
|
131,837 |
|
Selling, general and administrative expenses |
|
36,639 |
|
|
3,905 |
|
|
69,817 |
|
|
(1,045 |
) |
|
109,316 |
|
Operating income (loss) |
|
(3,057 |
) |
|
(1,978 |
) |
|
27,556 |
|
|
— |
|
|
22,521 |
|
Interest expense |
|
(7,385 |
) |
|
(16 |
) |
|
(4 |
) |
|
— |
|
|
(7,405 |
) |
Interest income |
|
186 |
|
|
1 |
|
|
— |
|
|
— |
|
|
187 |
|
Other (expense) income |
|
(2,918 |
) |
|
54 |
|
|
(225 |
) |
|
— |
|
|
(3,089 |
) |
Income (loss) before taxes and equity in earnings (losses) of affiliates |
|
(13,174 |
) |
|
(1,939 |
) |
|
27,327 |
|
|
— |
|
|
12,214 |
|
Income tax expense (benefit) |
|
14,425 |
|
|
1,282 |
|
|
(29,943 |
) |
|
— |
|
|
(14,236 |
) |
Equity in earnings (losses) of affiliates |
|
53,846 |
|
|
— |
|
|
(2,900 |
) |
|
(50,946 |
) |
|
— |
|
Net income (loss) including noncontrolling interest |
|
26,247 |
|
|
(3,221 |
) |
|
54,370 |
|
|
(50,946 |
) |
|
26,450 |
|
Net income attributable to noncontrolling interest |
|
— |
|
|
203 |
|
|
— |
|
|
— |
|
|
203 |
|
Net income (loss) attributable to Central Garden & Pet Company |
|
$ |
26,247 |
|
|
$ |
(3,424 |
) |
|
$ |
54,370 |
|
|
$ |
(50,946 |
) |
|
$ |
26,247 |
|
|
Consolidating Condensed Statements of Comprehensive Income (Loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) |
|
|
Three Months Ended December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income (loss) |
|
$ |
1,803 |
|
|
$ |
(5,795 |
) |
|
$ |
18,433 |
|
|
$ |
(12,802 |
) |
|
$ |
1,639 |
|
Other comprehensive loss: |
|
|
|
|
|
|
|
|
|
|
Foreign currency translation |
|
(274 |
) |
|
(129 |
) |
|
(95 |
) |
|
224 |
|
|
(274 |
) |
Total comprehensive income (loss) |
|
1,529 |
|
|
(5,924 |
) |
|
18,338 |
|
|
(12,578 |
) |
|
1,365 |
|
Comprehensive loss attributable to noncontrolling interests |
|
— |
|
|
(164 |
) |
|
— |
|
|
— |
|
|
(164 |
) |
Comprehensive income (loss) attributable to Central Garden & Pet Company |
|
$ |
1,529 |
|
|
$ |
(5,760 |
) |
|
$ |
18,338 |
|
|
$ |
(12,578 |
) |
|
$ |
1,529 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) |
|
|
Three Months Ended December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net income (loss) |
|
$ |
26,247 |
|
|
$ |
(3,221 |
) |
|
$ |
54,370 |
|
|
$ |
(50,946 |
) |
|
$ |
26,450 |
|
Other comprehensive income (loss): |
|
|
|
|
|
|
|
|
|
|
Foreign currency translation |
|
44 |
|
|
43 |
|
|
(16 |
) |
|
(27 |
) |
|
44 |
|
Total comprehensive income (loss) |
|
26,291 |
|
|
(3,178 |
) |
|
54,354 |
|
|
(50,973 |
) |
|
26,494 |
|
Comprehensive income attributable to noncontrolling interests |
|
— |
|
|
203 |
|
|
— |
|
|
— |
|
|
203 |
|
Comprehensive income (loss) attributable to Central Garden & Pet Company |
|
$ |
26,291 |
|
|
$ |
(3,381 |
) |
|
$ |
54,354 |
|
|
$ |
(50,973 |
) |
|
$ |
26,291 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
470,049 |
|
|
$ |
6,500 |
|
|
$ |
2,188 |
|
|
$ |
— |
|
|
$ |
478,737 |
|
Restricted cash |
|
10,921 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,921 |
|
Accounts receivable, net |
|
95,399 |
|
|
9,736 |
|
|
145,088 |
|
|
— |
|
|
250,223 |
|
Inventories |
|
137,158 |
|
|
36,698 |
|
|
319,889 |
|
|
— |
|
|
493,745 |
|
Prepaid expenses and other |
|
16,268 |
|
|
1,635 |
|
|
20,495 |
|
|
— |
|
|
38,398 |
|
Total current assets |
|
729,795 |
|
|
54,569 |
|
|
487,660 |
|
|
— |
|
|
1,272,024 |
|
Land, buildings, improvements and equipment, net |
|
31,311 |
|
|
33,483 |
|
|
146,766 |
|
|
— |
|
|
211,560 |
|
Goodwill |
|
20,578 |
|
|
7,414 |
|
|
253,185 |
|
|
— |
|
|
281,177 |
|
Other long-term assets |
|
54,972 |
|
|
6,663 |
|
|
132,846 |
|
|
(8,396 |
) |
|
186,085 |
|
Intercompany receivable |
|
100,968 |
|
|
— |
|
|
775,169 |
|
|
(876,137 |
) |
|
— |
|
Investment in subsidiaries |
|
1,632,068 |
|
|
— |
|
|
— |
|
|
(1,632,068 |
) |
|
— |
|
Total |
|
$ |
2,569,692 |
|
|
$ |
102,129 |
|
|
$ |
1,795,626 |
|
|
$ |
(2,516,601 |
) |
|
$ |
1,950,846 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
47,350 |
|
|
$ |
12,359 |
|
|
$ |
81,477 |
|
|
$ |
— |
|
|
$ |
141,186 |
|
Accrued expenses |
|
48,038 |
|
|
4,159 |
|
|
56,048 |
|
|
— |
|
|
108,245 |
|
Current portion of long-term debt |
|
117 |
|
|
— |
|
|
— |
|
|
— |
|
|
117 |
|
Total current liabilities |
|
95,505 |
|
|
16,518 |
|
|
137,525 |
|
|
— |
|
|
249,548 |
|
Long-term debt |
|
692,157 |
|
|
— |
|
|
175 |
|
|
— |
|
|
692,332 |
|
Intercompany payable |
|
817,165 |
|
|
58,972 |
|
|
— |
|
|
(876,137 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
|
|
|
— |
|
|
26,148 |
|
|
(26,148 |
) |
|
— |
|
Other long-term obligations |
|
8,602 |
|
|
— |
|
|
52,276 |
|
|
(8,396 |
) |
|
52,482 |
|
Total Central Garden & Pet shareholders’ equity |
|
956,263 |
|
|
26,418 |
|
|
1,579,502 |
|
|
(1,605,920 |
) |
|
956,263 |
|
Noncontrolling interest |
|
|
|
|
221 |
|
|
— |
|
|
|
|
|
221 |
|
Total equity |
|
956,263 |
|
|
26,639 |
|
|
1,579,502 |
|
|
(1,605,920 |
) |
|
956,484 |
|
Total |
|
$ |
2,569,692 |
|
|
$ |
102,129 |
|
|
$ |
1,795,626 |
|
|
$ |
(2,516,601 |
) |
|
$ |
1,950,846 |
|
|
Consolidating Condensed Balance Sheet |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
470,049 |
|
|
$ |
6,500 |
|
|
$ |
2,188 |
|
|
$ |
— |
|
|
$ |
478,737 |
|
Restricted cash |
|
10,921 |
|
|
— |
|
|
— |
|
|
— |
|
|
10,921 |
|
Accounts receivable, net |
|
95,399 |
|
|
9,736 |
|
|
145,088 |
|
|
— |
|
|
250,223 |
|
Inventories |
|
137,158 |
|
|
36,698 |
|
|
319,889 |
|
|
— |
|
|
493,745 |
|
Prepaid expenses and other |
|
16,268 |
|
|
1,635 |
|
|
20,495 |
|
|
— |
|
|
38,398 |
|
Total current assets |
|
729,795 |
|
|
54,569 |
|
|
487,660 |
|
|
— |
|
|
1,272,024 |
|
Land, buildings, improvements and equipment, net |
|
31,311 |
|
|
33,483 |
|
|
146,766 |
|
|
— |
|
|
211,560 |
|
Goodwill |
|
20,578 |
|
|
7,414 |
|
|
253,185 |
|
|
— |
|
|
281,177 |
|
Other long-term assets |
|
54,972 |
|
|
6,663 |
|
|
132,846 |
|
|
(8,396 |
) |
|
186,085 |
|
Intercompany receivable |
|
100,968 |
|
|
— |
|
|
775,169 |
|
|
(876,137 |
) |
|
— |
|
Investment in subsidiaries |
|
1,632,068 |
|
|
— |
|
|
— |
|
|
(1,632,068 |
) |
|
— |
|
Total |
|
$ |
2,569,692 |
|
|
$ |
102,129 |
|
|
$ |
1,795,626 |
|
|
$ |
(2,516,601 |
) |
|
$ |
1,950,846 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
47,350 |
|
|
$ |
12,359 |
|
|
$ |
81,477 |
|
|
$ |
— |
|
|
$ |
141,186 |
|
Accrued expenses |
|
48,038 |
|
|
4,159 |
|
|
56,048 |
|
|
— |
|
|
108,245 |
|
Current portion of long-term debt |
|
117 |
|
|
— |
|
|
— |
|
|
— |
|
|
117 |
|
Total current liabilities |
|
95,505 |
|
|
16,518 |
|
|
137,525 |
|
|
— |
|
|
249,548 |
|
Long-term debt |
|
692,157 |
|
|
— |
|
|
175 |
|
|
— |
|
|
692,332 |
|
Intercompany payable |
|
817,165 |
|
|
58,972 |
|
|
— |
|
|
(876,137 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
|
|
|
— |
|
|
26,148 |
|
|
(26,148 |
) |
|
— |
|
Other long-term obligations |
|
8,602 |
|
|
— |
|
|
52,276 |
|
|
(8,396 |
) |
|
52,482 |
|
Total Central Garden & Pet shareholders’ equity |
|
956,263 |
|
|
26,418 |
|
|
1,579,502 |
|
|
(1,605,920 |
) |
|
956,263 |
|
Noncontrolling interest |
|
|
|
|
221 |
|
|
— |
|
|
|
|
|
221 |
|
Total equity |
|
956,263 |
|
|
26,639 |
|
|
1,579,502 |
|
|
(1,605,920 |
) |
|
956,484 |
|
Total |
|
$ |
2,569,692 |
|
|
$ |
102,129 |
|
|
$ |
1,795,626 |
|
|
$ |
(2,516,601 |
) |
|
$ |
1,950,846 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED BALANCE SHEET |
|
|
December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
ASSETS |
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
277,608 |
|
|
$ |
5,858 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
283,466 |
|
Restricted cash |
|
12,419 |
|
|
— |
|
|
— |
|
|
— |
|
|
12,419 |
|
Accounts receivable, net |
|
89,039 |
|
|
5,617 |
|
|
140,419 |
|
|
— |
|
|
235,075 |
|
Inventories |
|
141,788 |
|
|
12,723 |
|
|
285,910 |
|
|
— |
|
|
440,421 |
|
Prepaid expenses and other |
|
6,645 |
|
|
1,059 |
|
|
14,815 |
|
|
— |
|
|
22,519 |
|
Total current assets |
|
527,499 |
|
|
25,257 |
|
|
441,144 |
|
|
— |
|
|
993,900 |
|
Land, buildings, improvements and equipment, net |
|
35,972 |
|
|
4,180 |
|
|
139,078 |
|
|
— |
|
|
179,230 |
|
Goodwill |
|
15,058 |
|
|
— |
|
|
241,217 |
|
|
— |
|
|
256,275 |
|
Other long-term assets |
|
55,752 |
|
|
2,032 |
|
|
143,741 |
|
|
(13,578 |
) |
|
187,947 |
|
Intercompany receivable |
|
38,956 |
|
|
— |
|
|
677,979 |
|
|
(716,935 |
) |
|
— |
|
Investment in subsidiaries |
|
1,437,506 |
|
|
— |
|
|
— |
|
|
(1,437,506 |
) |
|
— |
|
Total |
|
$ |
2,110,743 |
|
|
$ |
31,469 |
|
|
$ |
1,643,159 |
|
|
$ |
(2,168,019 |
) |
|
$ |
1,617,352 |
|
LIABILITIES AND EQUITY |
|
|
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
40,775 |
|
|
$ |
9,241 |
|
|
$ |
74,567 |
|
|
$ |
— |
|
|
$ |
124,583 |
|
Accrued expenses |
|
45,973 |
|
|
2,313 |
|
|
51,718 |
|
|
— |
|
|
100,004 |
|
Current portion of long-term debt |
|
— |
|
|
— |
|
|
372 |
|
|
— |
|
|
372 |
|
Total current liabilities |
|
86,748 |
|
|
11,554 |
|
|
126,657 |
|
|
— |
|
|
224,959 |
|
Long-term debt |
|
690,839 |
|
|
— |
|
|
125 |
|
|
— |
|
|
690,964 |
|
Intercompany payable |
|
663,241 |
|
|
53,694 |
|
|
— |
|
|
(716,935 |
) |
|
— |
|
Losses in excess of investment in subsidiaries |
|
— |
|
|
— |
|
|
29,069 |
|
|
(29,069 |
) |
|
— |
|
Other long-term obligations |
|
8,026 |
|
|
— |
|
|
45,030 |
|
|
(13,578 |
) |
|
39,478 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
661,889 |
|
|
(33,841 |
) |
|
1,442,278 |
|
|
(1,408,437 |
) |
|
661,889 |
|
Noncontrolling interest |
|
— |
|
|
62 |
|
|
— |
|
|
— |
|
|
62 |
|
Total equity (deficit) |
|
661,889 |
|
|
(33,779 |
) |
|
1,442,278 |
|
|
(1,408,437 |
) |
|
661,951 |
|
Total |
|
$ |
2,110,743 |
|
|
$ |
31,469 |
|
|
$ |
1,643,159 |
|
|
$ |
(2,168,019 |
) |
|
$ |
1,617,352 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
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 |
|
Total Central Garden & Pet shareholders’ equity (deficit) |
|
952,449 |
|
|
32,178 |
|
|
1,561,164 |
|
|
(1,593,342 |
) |
|
952,449 |
|
Noncontrolling interest |
|
— |
|
|
385 |
|
|
— |
|
|
— |
|
|
385 |
|
Total equity (deficit) |
|
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 |
|
|
Three Months Ended December 29, 2018 |
|
|
(in thousands) |
|
|
Parent |
|
Non-
Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash provided (used) by operating activities |
|
$ |
(3,592 |
) |
|
$ |
(1,459 |
) |
|
$ |
11,851 |
|
|
$ |
— |
|
|
$ |
6,800 |
|
Additions to property and equipment |
|
(873 |
) |
|
(704 |
) |
|
(6,261 |
) |
|
— |
|
|
(7,838 |
) |
Investments |
|
(1,499 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(1,499 |
) |
Other investing activities |
|
(50 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(50 |
) |
Intercompany investing activities |
|
(60,604 |
) |
|
— |
|
|
(5,283 |
) |
|
65,887 |
|
|
— |
|
Net cash used by investing activities |
|
(63,026 |
) |
|
(704 |
) |
|
(11,544 |
) |
|
65,887 |
|
|
(9,387 |
) |
Repayments under long-term debt |
|
(28 |
) |
|
|
|
|
(6 |
) |
|
|
|
|
(34 |
) |
Repurchase of common stock |
|
(547 |
) |
|
|
|
|
|
|
|
|
|
|
(547 |
) |
Payment of contingent consideration liability |
|
|
|
|
— |
|
|
(54 |
) |
|
— |
|
|
(54 |
) |
Intercompany financing activities |
|
63,233 |
|
|
2,654 |
|
|
|
|
|
(65,887 |
) |
|
— |
|
Net cash provided (used) by financing activities |
|
62,658 |
|
|
2,654 |
|
|
(60 |
) |
|
(65,887 |
) |
|
(635 |
) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
(179 |
) |
|
4 |
|
|
50 |
|
|
— |
|
|
(125 |
) |
Net increase (decrease) in cash, cash equivalents and restricted cash |
|
(4,139 |
) |
|
495 |
|
|
297 |
|
|
— |
|
|
(3,347 |
) |
Cash, cash equivalents and restricted cash at beginning of period |
|
485,109 |
|
|
6,005 |
|
|
1,891 |
|
|
— |
|
|
493,005 |
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
480,970 |
|
|
$ |
6,500 |
|
|
$ |
2,188 |
|
|
$ |
— |
|
|
$ |
489,658 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS |
|
|
Three Months Ended December 30, 2017 |
|
|
(in thousands) |
|
|
Parent |
|
Non-Guarantor
Subsidiaries
|
|
Guarantor
Subsidiaries
|
|
Eliminations |
|
Consolidated |
Net cash (used) provided by operating activities |
|
$ |
(38,709 |
) |
|
$ |
(105 |
) |
|
$ |
20,988 |
|
|
$ |
(6,387 |
) |
|
$ |
(24,213 |
) |
Additions to property, plant and equipment |
|
(1,608 |
) |
|
(83 |
) |
|
(6,495 |
) |
|
— |
|
|
(8,186 |
) |
Change in restricted cash and cash equivalents |
|
|
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Investments |
|
(6,555 |
) |
|
— |
|
|
|
|
|
|
|
|
(6,555 |
) |
Other investing activities |
|
(1,200 |
) |
|
— |
|
|
|
|
|
|
|
|
(1,200 |
) |
Intercompany investing activities |
|
(2,351 |
) |
|
— |
|
|
(15,842 |
) |
|
18,193 |
|
|
— |
|
Net cash used by investing activities |
|
(11,714 |
) |
|
(83 |
) |
|
(22,337 |
) |
|
18,193 |
|
|
(15,941 |
) |
Repayments under revolving line of credit |
|
(23,000 |
) |
|
— |
|
|
|
|
|
— |
|
|
(23,000 |
) |
Borrowings under revolving line of credit |
|
23,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
23,000 |
|
Repayments under long-term debt |
|
— |
|
|
— |
|
|
(7 |
) |
|
— |
|
|
(7 |
) |
Issuance of long-term debt |
|
300,000 |
|
|
— |
|
|
— |
|
|
— |
|
|
300,000 |
|
Payment of financing costs |
|
(4,558 |
) |
|
— |
|
|
— |
|
|
— |
|
|
(4,558 |
) |
Repurchase of common stock |
|
(2,768 |
) |
|
|
|
|
— |
|
|
|
|
|
(2,768 |
) |
Distribution to parent |
|
— |
|
|
(6,387 |
) |
|
— |
|
|
6,387 |
|
|
— |
|
Distribution to noncontrolling interest |
|
— |
|
|
(1,597 |
) |
|
— |
|
|
— |
|
|
(1,597 |
) |
Payment of contingent consideration |
|
— |
|
|
— |
|
|
(93 |
) |
|
— |
|
|
(93 |
) |
Intercompany financing activities |
|
15,833 |
|
|
2,360 |
|
|
|
|
|
(18,193 |
) |
|
— |
|
Net cash provided (used) by financing activities |
|
308,507 |
|
|
(5,624 |
) |
|
(100 |
) |
|
(11,806 |
) |
|
290,977 |
|
Effect of exchange rates on cash, cash equivalents and restricted cash |
|
60 |
|
|
(23 |
) |
|
(17 |
) |
|
— |
|
|
20 |
|
Net decrease in cash, cash equivalents and restricted cash |
|
258,144 |
|
|
(5,835 |
) |
|
(1,466 |
) |
|
— |
|
|
250,843 |
|
Cash, cash equivalents and restricted cash at beginning of period |
|
31,883 |
|
|
11,693 |
|
|
1,466 |
|
|
— |
|
|
45,042 |
|
Cash, cash equivalents and restricted cash at end of period |
|
$ |
290,027 |
|
|
$ |
5,858 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
295,885 |
|
|