Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.19.1
Segment Information
6 Months Ended
Mar. 30, 2019
Segment Reporting [Abstract]  
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).
 
 
 
Three Months Ended
Six Months Ended
 
 
March 30,
2019
 
March 31,
2018
March 30,
2019
 
March 31,
2018
Net sales:
 
 
 
 
 
 
 
Pet segment
 
$
338,183

 
$
321,653

$
678,599

 
$
646,737

Garden segment
 
335,518

 
291,441

457,092

 
408,368

Total net sales
 
$
673,701

 
$
613,094

$
1,135,691

 
$
1,055,105

Operating Income
 
 
 
 
 
 
 
Pet segment
 
26,984

 
32,784

56,739

 
68,960

Garden segment
 
53,355

 
50,746

48,718

 
53,046

Corporate
 
(18,186
)
 
(17,744
)
(33,123
)
 
(33,699
)
Total operating income
 
62,153

 
65,786

72,334

 
88,307

Interest expense - net
 
(8,385
)
 
(9,882
)
(16,462
)
 
(17,100
)
Other income (expense)
 
500

 
1,505

308

 
(1,584
)
Income tax expense (benefit)
 
11,546

 
11,643

11,819

 
(2,593
)
Income including noncontrolling interest
 
42,722

 
45,766

44,361

 
72,216

Net income attributable to noncontrolling interest
 
331

 
532

167

 
735

Net income attributable to Central Garden & Pet Company
 
$
42,391

 
$
45,234

$
44,194

 
$
71,481

Depreciation and amortization:
 
 
 
 
 
 
 
Pet segment
 
$
8,039

 
$
6,944

$
16,095

 
$
14,089

Garden segment
 
2,312

 
1,707

5,138

 
3,276

Corporate
 
1,526

 
2,471

2,996

 
4,920

Total depreciation and amortization
 
$
11,877

 
$
11,122

$
24,229

 
$
22,285

 
 
 
March 30,
2019
 
March 31,
2018
 
September 29,
2018
Assets:
 
 
 
 
 
 
Pet segment
 
$
700,638

 
$
660,344

 
$
683,938

Garden segment
 
687,951

 
581,105

 
407,483

Corporate
 
657,551

 
462,514

 
815,788

Total assets
 
$
2,046,140

 
$
1,703,963

 
$
1,907,209

Goodwill (included in corporate assets above):
 
 
 
 
 
 
Pet segment
 
$
268,289

 
$
262,770

 
$
268,289

Garden segment
 
12,888

 
5,473

 
12,888

Total goodwill
 
$
281,177

 
$
268,243

 
$
281,177



The tables below present the Company's disaggregated revenues by segment (in thousands):


 
Three Months Ended March 30, 2019
 
Six Months Ended March 30, 2019

 
Pet Segment
 
Garden Segment
 
Total
 
Pet Segment
 
Garden Segment
 
Total

 

 

 

 

 

 

Other pet products
 
$
233.0

 
$

 
$
233.0

 
$
442.3

 
$

 
$
442.3

Dog and cat products
 
105.2

 

 
105.2

 
236.3

 

 
236.3

Garden controls and fertilizer products
 

 
113.8

 
113.8

 

 
138.1

 
138.1

Other garden supplies
 

 
221.7

 
221.7

 

 
319.0

 
319.0

     Total
 
$
338.2

 
$
335.5

 
$
673.7

 
$
678.6

 
$
457.1

 
$
1,135.7

 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
Three Months Ended March 31, 2018
 
Six Months Ended March 31, 2018
 
 
Pet Segment
 
Garden Segment
 
Total
 
Pet Segment
 
Garden Segment
 
Total
 
 
 
 
 
 
 
 

 

 

Other pet products
 
$
218.8

 
$

 
$
218.8

 
$
413.9

 
$

 
$
413.9

Dog and cat products
 
102.9

 

 
102.9

 
232.8

 

 
232.8

Garden controls and fertilizer products
 

 
112.9

 
112.9

 

 
142.5

 
142.5

Other garden supplies
 

 
178.5

 
178.5

 

 
265.9

 
265.9

     Total
 
$
321.7

 
$
291.4

 
$
613.1

 
$
646.7

 
$
408.4

 
$
1,055.1