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Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables) | 9 Months Ended
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Jun. 28, 2014
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Consolidating Condensed Statement of Operations Based on Company's Understanding of SEC's Interpretation |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS Three Months Ended June 28, 2014 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net sales |  | $ | 147,331 |  |  | $ | 303,377 |  |  | $ | (12,721 | ) |  | $ | 437,987 |
Cost of products sold and occupancy |  |  | 127,478 |  |  |  | 204,099 |  |  |  | (12,721 | ) |  |  | 318,856 |
Gross profit |  |  | 19,853 |  |  |  | 99,278 |  |  |  | 0 |  |  |  | 119,131 |
Selling, general and administrative expenses |  |  | 30,301 |  |  |  | 70,404 |  |  |  | 0 |  |  |  | 100,705 |
Income from operations |  |  | (10,448 | ) |  |  | 28,874 |  |  |  | 0 |  |  |  | 18,426 |
Interest – net |  |  | (10,396 | ) |  |  | (19 | ) |  |  | 0 |  |  |  | (10,415 | )
Other income (loss ) |  |  | (2,588 | ) |  |  | 3,044 |  |  |  | 0 |  |  |  | 456 |
Income (loss) before income taxes |  |  | (23,432 | ) |  |  | 31,899 |  |  |  | 0 |  |  |  | 8,467 |
Income taxes (tax benefit) |  |  | (8,897 | ) |  |  | 12,030 |  |  |  | 0 |  |  |  | 3,133 |
Income (loss) including noncontrolling interest |  |  | (14,535 | ) |  |  | 19,869 |  |  |  |  |  |  |  | 5,334 |
Income attributable to noncontrolling interest |  |  | 647 |  |  |  | 0 |  |  |  | 0 |  |  |  | 647 |
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor subsidiaries |  |  | (15,182 | ) |  |  | 19,869 |  |  |  | 0 |  |  |  | 4,687 |
Equity in undistributed income of guarantor subsidiaries |  |  | 19,869 |  |  |  | 0 |  |  |  | (19,869 | ) |  |  | 0 |
Net income attributable to Central Garden & Pet Co. |  | $ | 4,687 |  |  | $ | 19,869 |  |  | $ | (19,869 | ) |  | $ | 4,687 |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS Three Months Ended June 29, 2013 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net sales |  | $ | 145,836 |  |  | $ | 361,067 |  |  | $ | (12,773 | ) |  | $ | 494,130 |
Cost of products sold and occupancy |  |  | 107,459 |  |  |  | 246,978 |  |  |  | (12,773 | ) |  |  | 341,664 |
Gross profit |  |  | 38,377 |  |  |  | 114,089 |  |  |  | 0 |  |  |  | 152,466 |
Selling, general and administrative expenses |  |  | 42,959 |  |  |  | 76,615 |  |  |  | 0 |  |  |  | 119,574 |
Income from operations |  |  | (4,582 | ) |  |  | 37,474 |  |  |  | 0 |  |  |  | 32,892 |
Interest – net |  |  | (11,220 | ) |  |  | (99 | ) |  |  | 0 |  |  |  | (11,319 | )
Other income (loss) |  |  | (2,722 | ) |  |  | 3,075 |  |  |  | 0 |  |  |  | 353 |
Income (loss) before income taxes |  |  | (18,524 | ) |  |  | 40,450 |  |  |  | 0 |  |  |  | 21,926 |
Income taxes (tax benefit) |  |  | (7,007 | ) |  |  | 14,527 |  |  |  | 0 |  |  |  | 7,520 |
Income (loss) including noncontrolling interest |  |  | (11,517 | ) |  |  | 25,923 |  |  |  |  |  |  |  | 14,406 |
Income attributable to noncontrolling interest |  |  | 681 |  |  |  | 0 |  |  |  | 0 |  |  |  | 681 |
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor subsidiaries |  |  | (12,198 | ) |  |  | 25,923 |  |  |  | 0 |  |  |  | 13,725 |
Equity in undistributed income of guarantor subsidiaries |  |  | 25,923 |  |  |  | 0 |  |  |  | (25,923 | ) |  |  | 0 |
Net income attributable to Central Garden & Pet Co. |  | $ | 13,725 |  |  | $ | 25,923 |  |  | $ | (25,923 | ) |  | $ | 13,725 |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS Nine Months Ended June 28, 2014 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net sales |  | $ | 413,897 |  |  | $ | 853,573 |  |  | $ | (37,351 | ) |  | $ | 1,230,119 |
Cost of products sold and occupancy |  |  | 329,674 |  |  |  | 591,328 |  |  |  | (37,351 | ) |  |  | 883,651 |
Gross profit |  |  | 84,223 |  |  |  | 262,245 |  |  |  | 0 |  |  |  | 346,468 |
Selling, general and administrative expenses |  |  | 93,519 |  |  |  | 198,109 |  |  |  | 0 |  |  |  | 291,628 |
Income from operations |  |  | (9,296 | ) |  |  | 64,136 |  |  |  | 0 |  |  |  | 54,840 |
Interest – net |  |  | (32,964 | ) |  |  | (44 | ) |  |  | 0 |  |  |  | (33,008 | )
Other income (loss) |  |  | (4,549 | ) |  |  | 4,945 |  |  |  | 0 |  |  |  | 396 |
Income (loss) before income taxes |  |  | (46,809 | ) |  |  | 69,037 |  |  |  | 0 |  |  |  | 22,228 |
Income taxes (tax benefit) |  |  | (17,543 | ) |  |  | 25,760 |  |  |  | 0 |  |  |  | 8,217 |
Income (loss) including noncontrolling interest |  |  | (29,266 | ) |  |  | 43,277 |  |  |  |  |  |  |  | 14,011 |
Income attributable to noncontrolling interest |  |  | 1,137 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,137 |
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor subsidiaries |  |  | (30,403 | ) |  |  | 43,277 |  |  |  | 0 |  |  |  | 12,874 |
Equity in undistributed income of guarantor subsidiaries |  |  | 43,277 |  |  |  | 0 |  |  |  | (43,277 | ) |  |  | 0 |
Net income attributable to Central Garden & Pet Co. |  | $ | 12,874 |  |  | $ | 43,277 |  |  | $ | (43,277 | ) |  | $ | 12,874 |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS Nine Months Ended June 29, 2013 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net sales |  | $ | 400,778 |  |  | $ | 921,693 |  |  | $ | (37,675 | ) |  | $ | 1,284,796 |
Cost of products sold and occupancy |  |  | 298,861 |  |  |  | 641,015 |  |  |  | (37,675 | ) |  |  | 902,201 |
Gross profit |  |  | 101,917 |  |  |  | 280,678 |  |  |  | 0 |  |  |  | 382,595 |
Selling, general and administrative expenses |  |  | 108,405 |  |  |  | 207,646 |  |  |  | 0 |  |  |  | 316,051 |
Income (loss) from operations |  |  | (6,488 | ) |  |  | 73,032 |  |  |  | 0 |  |  |  | 66,544 |
Interest – net |  |  | (32,441 | ) |  |  | (38 | ) |  |  | 0 |  |  |  | (32,479 | )
Other income (loss) |  |  | (5,539 | ) |  |  | 4,863 |  |  |  | 0 |  |  |  | (676 | )
Income (loss) before income taxes |  |  | (44,468 | ) |  |  | 77,857 |  |  |  | 0 |  |  |  | 33,389 |
Income taxes (tax benefit) |  |  | (15,995 | ) |  |  | 27,365 |  |  |  | 0 |  |  |  | 11,370 |
Income (loss) including noncontrolling interest |  |  | (28,473 | ) |  |  | 50,492 |  |  |  |  |  |  |  | 22,019 |
Income attributable to noncontrolling interest |  |  | 1,367 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,367 |
Income (loss) attributable to Central Garden & Pet Co. before equity in undistributed income of guarantor subsidiaries |  |  | (29,840 | ) |  |  | 50,492 |  |  |  | 0 |  |  |  | 20,652 |
Equity in undistributed income of guarantor subsidiaries |  |  | 50,492 |  |  |  | 0 |  |  |  | (50,492 | ) |  |  | 0 |
Net income attributable to Central Garden & Pet Co. |  | $ | 20,652 |  |  | $ | 50,492 |  |  | $ | (50,492 | ) |  | $ | 20,652 |
Consolidating Condensed Statements of Comprehensive Income Based on Company's Understanding of SEC's Interpretation |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended June 28, 2014 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net income (loss) |  | $ | (14,535 | ) |  | $ | 19,869 |  |  | $ | 0 |  |  | $ | 5,334 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | 339 |  |  |  | 0 |  |  |  | 0 |  |  |  | 339 |
Total comprehensive income (loss) |  |  | (14,196 | ) |  |  | 19,869 |  |  |  | 0 |  |  |  | 5,673 |
Comprehensive income attributable to noncontrolling interests |  |  | 647 |  |  |  | 0 |  |  |  | 0 |  |  |  | 647 |
Comprehensive income (loss) attributable to Central Garden & Pet Company |  | $ | (14,843 | ) |  | $ | 19,869 |  |  | $ | 0 |  |  | $ | 5,026 |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Three Months Ended June 29, 2013 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net income (loss) |  | $ | (11,517 | ) |  | $ | 25,923 |  |  | $ | 0 |  |  | $ | 14,406 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | (92 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (92 | )
Total comprehensive income (loss) |  |  | (11,609 | ) |  |  | 25,923 |  |  |  | 0 |  |  |  | 14,314 |
Comprehensive income attributable to noncontrolling interests |  |  | 681 |  |  |  | 0 |  |  |  | 0 |  |  |  | 681 |
Comprehensive income (loss) attributable to Central Garden & Pet Company |  | $ | (12,290 | ) |  | $ | 25,923 |  |  | $ | 0 |  |  | $ | 13,633 |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Nine Months Ended June 28, 2014 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net income (loss) |  | $ | (29,266 | ) |  | $ | 43,277 |  |  | $ | 0 |  |  | $ | 14,011 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | 426 |  |  |  | 0 |  |  |  | 0 |  |  |  | 426 |
Total comprehensive income (loss) |  |  | (28,840 | ) |  |  | 43,277 |  |  |  | 0 |  |  |  | 14,437 |
Comprehensive income attributable to noncontrolling interests |  |  | 1,137 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,137 |
Comprehensive income (loss) attributable to Central Garden & Pet Company |  | $ | (29,977 | ) |  | $ | 43,277 |  |  | $ | 0 |  |  | $ | 13,300 |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME Nine Months Ended June 29, 2013 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net income (loss) |  | $ | (28,473 | ) |  | $ | 50,492 |  |  | $ | 0 |  |  | $ | 22,019 |
Other comprehensive income: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | (699 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (699 | )
Total comprehensive income (loss) |  |  | (29,172 | ) |  |  | 50,492 |  |  |  | 0 |  |  |  | 21,320 |
Comprehensive income attributable to noncontrolling interests |  |  | 1,367 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,367 |
Comprehensive income (loss) attributable to Central Garden & Pet Company |  | $ | (30,539 | ) |  | $ | 50,492 |  |  | $ | 0 |  |  | $ | 19,953 |
Consolidating Condensed Balance Sheet Based on Company's Understanding of SEC's Interpretation |
|  | CONSOLIDATING CONDENSED BALANCE SHEET June 28, 2014 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 29,045 |  |  | $ | 2,801 |  |  | $ | 0 |  |  | $ | 31,846 |
Short term investments |  |  | 14,220 |  |  |  | 0 |  |  |  | 0 |  |  |  | 14,220 |
Accounts receivable, net |  |  | 63,829 |  |  |  | 153,411 |  |  |  | (3,120 | ) |  |  | 214,120 |
Inventories |  |  | 106,595 |  |  |  | 258,440 |  |  |  | 0 |  |  |  | 365,035 |
Prepaid expenses and other assets |  |  | 26,419 |  |  |  | 27,270 |  |  |  | 0 |  |  |  | 53,689 |
Total current assets |  |  | 240,108 |  |  |  | 441,922 |  |  |  | (3,120 | ) |  |  | 678,910 |
Land, buildings, improvements and equipment, net |  |  | 75,452 |  |  |  | 102,208 |  |  |  | 0 |  |  |  | 177,660 |
Goodwill |  |  | 0 |  |  |  | 205,756 |  |  |  | 0 |  |  |  | 205,756 |
Investment in guarantors |  |  | 694,076 |  |  |  | 0 |  |  |  | (694,076 | ) |  |  | 0 |
Deferred income taxes and other assets |  |  | 56,572 |  |  |  | 47,040 |  |  |  | 0 |  |  |  | 103,612 |
Total |  | $ | 1,066,208 |  |  | $ | 796,926 |  |  | $ | (697,196 | ) |  | $ | 1,165,938 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 39,423 |  |  | $ | 53,656 |  |  | $ | (3,120 | ) |  | $ | 89,959 |
Accrued expenses and other current liabilities |  |  | 45,790 |  |  |  | 44,027 |  |  |  | 0 |  |  |  | 89,817 |
Total current liabilities |  |  | 85,213 |  |  |  | 97,683 |  |  |  | (3,120 | ) |  |  | 179,776 |
Long-term debt |  |  | 449,887 |  |  |  | 107 |  |  |  | 0 |  |  |  | 449,994 |
Other long-term obligations |  |  | 38,176 |  |  |  | 5,060 |  |  |  | 0 |  |  |  | 43,236 |
Shareholders’ equity attributable to Central Garden & Pet Co. |  |  | 491,082 |  |  |  | 694,076 |  |  |  | (694,076 | ) |  |  | 491,082 |
Noncontrolling interest |  |  | 1,850 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,850 |
Total equity |  |  | 492,932 |  |  |  | 694,076 |  |  |  | (694,076 | ) |  |  | 492,932 |
Total |  | $ | 1,066,208 |  |  | $ | 796,926 |  |  | $ | (697,196 | ) |  | $ | 1,165,938 |
|  | CONSOLIDATING CONDENSED BALANCE SHEET September 28, 2013 (in thousands) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |
Cash and cash equivalents |  | $ | 12,441 |  |  | $ | 2,715 |  |  | $ | 0 |  |  | $ | 15,156 |
Short term investments |  |  | 17,820 |  |  |  | 0 |  |  |  | 0 |  |  |  | 17,820 |
Accounts receivable, net |  |  | 43,660 |  |  |  | 153,734 |  |  |  | (3,134 | ) |  |  | 194,260 |
Inventories |  |  | 114,662 |  |  |  | 277,272 |  |  |  | 0 |  |  |  | 391,934 |
Prepaid expenses and other assets |  |  | 24,747 |  |  |  | 28,737 |  |  |  | 0 |  |  |  | 53,484 |
Total current assets |  |  | 213,330 |  |  |  | 462,458 |  |  |  | (3,134 | ) |  |  | 672,654 |
Land, buildings, improvements and equipment, net |  |  | 78,662 |  |  |  | 110,251 |  |  |  | 0 |  |  |  | 188,913 |
Goodwill |  |  | 0 |  |  |  | 205,756 |  |  |  | 0 |  |  |  | 205,756 |
Investment in guarantors |  |  | 693,615 |  |  |  | 0 |  |  |  | (693,615 | ) |  |  | 0 |
Other assets |  |  | 57,255 |  |  |  | 36,582 |  |  |  | 0 |  |  |  | 93,837 |
Total |  | $ | 1,042,862 |  |  | $ | 815,047 |  |  | $ | (696,749 | ) |  | $ | 1,161,160 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 36,869 |  |  | $ | 69,834 |  |  | $ | (3,134 | ) |  | $ | 103,569 |
Accrued expenses and other liabilities |  |  | 33,664 |  |  |  | 45,096 |  |  |  | 0 |  |  |  | 78,760 |
Total current liabilities |  |  | 70,533 |  |  |  | 114,930 |  |  |  | (3,134 | ) |  |  | 182,329 |
Long-term debt |  |  | 472,418 |  |  |  | 27 |  |  |  | 0 |  |  |  | 472,445 |
Other long-term obligations |  |  | 29,887 |  |  |  | 6,475 |  |  |  | 0 |  |  |  | 36,362 |
Shareholders’ equity attributable to Central Garden & Pet |  |  | 468,678 |  |  |  | 693,615 |  |  |  | (693,615 | ) |  |  | 468,678 |
Noncontrolling interest |  |  | 1,346 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,346 |
Total equity |  |  | 470,024 |  |  |  | 693,615 |  |  |  | (693,615 | ) |  |  | 470,024 |
Total |  | $ | 1,042,862 |  |  | $ | 815,047 |  |  | $ | (696,749 | ) |  | $ | 1,161,160 |
|  | CONSOLIDATING CONDENSED BALANCE SHEET June 29, 2013 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 18,109 |  |  | $ | 2,373 |  |  | $ | 0 |  |  | $ | 20,482 |
Short term investments |  |  | 17,820 |  |  |  | 0 |  |  |  | 0 |  |  |  | 17,820 |
Accounts receivable, net |  |  | 69,602 |  |  |  | 178,236 |  |  |  | (4,188 | ) |  |  | 243,650 |
Inventories |  |  | 135,301 |  |  |  | 277,769 |  |  |  | 0 |  |  |  | 413,070 |
Prepaid expenses and other assets |  |  | 24,040 |  |  |  | 29,711 |  |  |  | 0 |  |  |  | 53,751 |
Total current assets |  |  | 264,872 |  |  |  | 488,089 |  |  |  | (4,188 | ) |  |  | 748,773 |
Land, buildings, improvements and equipment, net |  |  | 82,107 |  |  |  | 108,814 |  |  |  | 0 |  |  |  | 190,921 |
Goodwill |  |  | 0 |  |  |  | 210,223 |  |  |  | 0 |  |  |  | 210,223 |
Investment in guarantors |  |  | 733,748 |  |  |  | 0 |  |  |  | (733,748 | ) |  |  | 0 |
Deferred income taxes and other assets |  |  | 53,049 |  |  |  | 41,670 |  |  |  | 0 |  |  |  | 94,719 |
Total |  | $ | 1,133,776 |  |  | $ | 848,796 |  |  | $ | (737,936 | ) |  | $ | 1,244,636 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 46,305 |  |  | $ | 70,196 |  |  | $ | (4,188 | ) |  | $ | 112,313 |
Accrued expenses and other current liabilities |  |  | 50,276 |  |  |  | 43,142 |  |  |  | 0 |  |  |  | 93,418 |
Total current liabilities |  |  | 96,581 |  |  |  | 113,338 |  |  |  | (4,188 | ) |  |  | 205,731 |
Long-term debt |  |  | 509,397 |  |  |  | 33 |  |  |  | 0 |  |  |  | 509,430 |
Other long-term obligations |  |  | 36,168 |  |  |  | 1,677 |  |  |  | 0 |  |  |  | 37,845 |
Shareholders’ equity attributable to Central Garden & Pet Co. |  |  | 489,946 |  |  |  | 733,748 |  |  |  | (733,748 | ) |  |  | 489,946 |
Noncontrolling interest |  |  | 1,684 |  |  |  | 0 |  |  |  | 0 |  |  |  | 1,684 |
Total equity |  |  | 491,630 |  |  |  | 733,748 |  |  |  | (733,748 | ) |  |  | 491,630 |
Total |  | $ | 1,133,776 |  |  | $ | 848,796 |  |  | $ | (737,936 | ) |  | $ | 1,244,636 |
Consolidating Condensed Statement of Cash Flows Based on Company's Understanding of SEC's Interpretation |
|  | CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS Nine Months Ended June 28, 2014 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net cash provided (used) by operating activities |  | $ | 47,393 |  |  | $ | 64,735 |  |  | $ | (43,277 | ) |  | $ | 68,851 |
Additions to property and equipment |  |  | (7,210 | ) |  |  | (6,497 | ) |  |  | 0 |  |  |  | (13,707 | )
Proceeds from sale of property and equipment |  |  | 0 |  |  |  | 5,171 |  |  |  | 0 |  |  |  | 5,171 |
Proceeds from short term investments |  |  | 3,600 |  |  |  | 0 |  |  |  | 0 |  |  |  | 3,600 |
Payments to acquire companies |  |  | 0 |  |  |  | (20,262 | ) |  |  | 0 |  |  |  | (20,262 | )
Investment in guarantor subsidiaries |  |  | (461 | ) |  |  | (42,816 | ) |  |  | 43,277 |  |  |  | 0 |
Net cash provided (used) by investing activities |  |  | (4,071 | ) |  |  | (64,404 | ) |  |  | 43,277 |  |  |  | (25,198 | )
Repayments of long-term debt |  |  | (172 | ) |  |  | (110 | ) |  |  | 0 |  |  |  | (282 | )
Borrowings under revolving line of credit |  |  | 278,000 |  |  |  | 0 |  |  |  | 0 |  |  |  | 278,000 |
Repayments under revolving line of credit |  |  | (301,000 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (301,000 | )
Repurchase of common stock |  |  | (1,190 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (1,190 | )
Proceeds from issuance of common stock |  |  | 594 |  |  |  | 0 |  |  |  | 0 |  |  |  | 594 |
Payment of deferred financing costs |  |  | (3,090 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (3,090 | )
Distribution to minority interest |  |  | (633 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (633 | )
Excess tax benefits from stock-based awards |  |  | 422 |  |  |  | 0 |  |  |  | 0 |  |  |  | 422 |
Net cash provided (used) by financing activities |  |  | (27,069 | ) |  |  | (110 | ) |  |  | 0 |  |  |  | (27,179 | )
Effect of exchange rate changes on cash |  |  | 351 |  |  |  | (135 | ) |  |  | 0 |  |  |  | 216 |
Net increase (decrease) in cash and cash equivalents |  |  | 16,604 |  |  |  | 86 |  |  |  | 0 |  |  |  | 16,690 |
Cash and cash equivalents at beginning of period |  |  | 12,441 |  |  |  | 2,715 |  |  |  | 0 |  |  |  | 15,156 |
Cash and cash equivalents at end of period |  | $ | 29,045 |  |  | $ | 2,801 |  |  | $ | 0 |  |  | $ | 31,846 |
|  | CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS Nine Months Ended June 29, 2013 (in thousands) (unaudited) |
|  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Net cash provided (used) by operating activities |  | $ | 11 |  |  | $ | (14,977 | ) |  | $ | (50,492 | ) |  | $ | (65,458 | )
Additions to property and equipment |  |  | (8,965 | ) |  |  | (10,569 | ) |  |  | 0 |  |  |  | (19,534 | )
Proceeds from short term investments |  |  | 4,885 |  |  |  | 0 |  |  |  | 0 |  |  |  | 4,885 |
Payment to acquire companies |  |  | 0 |  |  |  | (4,835 | ) |  |  | 0 |  |  |  | (4,835 | )
Investment in guarantor subsidiaries |  |  | (79,386 | ) |  |  | 28,894 |  |  |  | 50,492 |  |  |  | 0 |
Net cash provided (used) by investing activities |  |  | (83,466 | ) |  |  | 13,490 |  |  |  | 50,492 |  |  |  | (19,484 | )
Repayments of long-term debt |  |  | (161 | ) |  |  | (96 | ) |  |  | 0 |  |  |  | (257 | )
Borrowings under revolving line of credit |  |  | 281,000 |  |  |  | 0 |  |  |  | 0 |  |  |  | 281,000 |
Repayments under revolving line of credit |  |  | (221,000 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (221,000 | )
Repurchase of common stock |  |  | (2,625 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (2,625 | )
Proceeds from issuance of common stock |  |  | 560 |  |  |  | 0 |  |  |  | 0 |  |  |  | 560 |
Distribution to minority interest |  |  | (629 | ) |  |  | 0 |  |  |  | 0 |  |  |  | (629 | )
Excess tax benefits from stock-based awards |  |  | 345 |  |  |  | 0 |  |  |  | 0 |  |  |  | 345 |
Net cash provided (used) by financing activities |  |  | 57,490 |  |  |  | (96 | ) |  |  | 0 |  |  |  | 57,394 |
Effect of exchange rate changes on cash |  |  | (588 | ) |  |  | 143 |  |  |  | 0 |  |  |  | (445 | )
Net increase (decrease) in cash and cash equivalents |  |  | (26,553 | ) |  |  | (1,440 | ) |  |  | 0 |  |  |  | (27,993 | )
Cash and cash equivalents at beginning of period |  |  | 44,662 |  |  |  | 3,813 |  |  |  | 0 |  |  |  | 48,475 |
Cash and cash equivalents at end of period |  | $ | 18,109 |  |  | $ | 2,373 |  |  | $ | 0 |  |  | $ | 20,482 |

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