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Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables) | 9 Months Ended
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Jun. 29, 2019
Condensed Financial Information Disclosure [Abstract] |
Consolidating Condensed Statement of Operations |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
|  | Three Months Ended June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales |  | $ | 199,470 |  |  | $ | 102,869 |  |  | $ | 423,268 |  |  | $ | (19,032 | ) |  | $ | 706,575 |
Cost of goods sold and occupancy |  | 153,637 |  |  | 69,232 |  |  | 281,734 |  |  | (17,312 | ) |  | 487,291 |
Gross profit |  | 45,833 |  |  | 33,637 |  |  | 141,534 |  |  | (1,720 | ) |  | 219,284 |
Selling, general and administrative expenses |  | 45,219 |  |  | 14,595 |  |  | 92,319 |  |  | (1,720 | ) |  | 150,413 |
Operating income |  | 614 |  |  | 19,042 |  |  | 49,215 |  |  | — |  |  | 68,871 |
Interest expense |  | (10,500 | ) |  | (133 | ) |  | (43 | ) |  | — |  |  | (10,676 | )
Interest income |  | 2,173 |  |  | 5 |  |  | — |  |  | — |  |  | 2,178 |
Other (expense) income |  | (86 | ) |  | (273 | ) |  | 539 |  |  | — |  |  | 180 |
Income (loss) before taxes and equity in earnings (losses) of affiliates |  | (7,799 | ) |  | 18,641 |  |  | 49,711 |  |  | — |  |  | 60,553 |
Income tax expense (benefit) |  | (1,985 | ) |  | 438 |  |  | 15,759 |  |  | — |  |  | 14,212 |
Equity in earnings of affiliates |  | 51,966 |  |  | — |  |  | 1,301 |  |  | (53,267 | ) |  | — |
Net income including noncontrolling interest |  | 46,152 |  |  | 18,203 |  |  | 35,253 |  |  | (53,267 | ) |  | 46,341 |
Net income attributable to noncontrolling interest |  | — |  |  | 189 |  |  | — |  |  | — |  |  | 189 |
Net income attributable to Central Garden & Pet Company |  | $ | 46,152 |  |  | $ | 18,014 |  |  | $ | 35,253 |  |  | $ | (53,267 | ) |  | $ | 46,152 |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
|  | Three Months Ended June 30, 2018
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales |  | $ | 208,095 |  |  | $ | 93,122 |  |  | $ | 379,059 |  |  | $ | (22,333 | ) |  | $ | 657,943 |
Cost of goods sold and occupancy |  | 161,192 |  |  | 67,308 |  |  | 247,559 |  |  | (20,180 | ) |  | 455,879 |
Gross profit |  | 46,903 |  |  | 25,814 |  |  | 131,500 |  |  | (2,153 | ) |  | 202,064 |
Selling, general and administrative expenses |  | 45,974 |  |  | 14,837 |  |  | 82,587 |  |  | (2,153 | ) |  | 141,245 |
Operating income |  | 929 |  |  | 10,977 |  |  | 48,913 |  |  | — |  |  | 60,819 |
Interest expense |  | (10,470 | ) |  | (125 | ) |  | (2 | ) |  | — |  |  | (10,597 | )
Interest income |  | 583 |  |  | 1 |  |  | — |  |  | — |  |  | 584 |
Other income (loss) |  | 1,965 |  |  | (394 | ) |  | 555 |  |  | — |  |  | 2,126 |
Income (loss) before taxes and equity in earnings of affiliates |  | (6,993 | ) |  | 10,459 |  |  | 49,466 |  |  | — |  |  | 52,932 |
Income tax expense (benefit) |  | (2,633 | ) |  | 236 |  |  | 13,792 |  |  |  |  | 11,395 |
Equity in earnings of affiliates |  | 45,905 |  |  | — |  |  | 261 |  |  | (46,166 | ) |  | — |
Net income including noncontrolling interest |  | 41,545 |  |  | 10,223 |  |  | 35,935 |  |  | (46,166 | ) |  | 41,537 |
Net loss attributable to noncontrolling interest |  | — |  |  | (8 | ) |  | — |  |  | — |  |  | (8 | )
Net income attributable to Central Garden & Pet Company |  | $ | 41,545 |  |  | $ | 10,231 |  |  | $ | 35,935 |  |  | $ | (46,166 | ) |  | $ | 41,545 |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
|  | Nine Months Ended June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales |  | $ | 586,918 |  |  | $ | 161,689 |  |  | $ | 1,152,912 |  |  | $ | (59,253 | ) |  | $ | 1,842,266 |
Cost of goods sold and occupancy |  | 452,783 |  |  | 121,578 |  |  | 767,281 |  |  | (54,893 | ) |  | 1,286,749 |
Gross profit |  | 134,135 |  |  | 40,111 |  |  | 385,631 |  |  | (4,360 | ) |  | 555,517 |
Selling, general and administrative expenses |  | 136,019 |  |  | 32,431 |  |  | 250,222 |  |  | (4,360 | ) |  | 414,312 |
Operating income (loss) |  | (1,884 | ) |  | 7,680 |  |  | 135,409 |  |  | — |  |  | 141,205 |
Interest expense |  | (31,479 | ) |  | (388 | ) |  | (63 | ) |  | — |  |  | (31,930 | )
Interest income |  | 6,956 |  |  | 14 |  |  | — |  |  | — |  |  | 6,970 |
Other income (expense) |  | 256 |  |  | (246 | ) |  | 478 |  |  | — |  |  | 488 |
Income (loss) before taxes and equity in earnings of affiliates |  | (26,151 | ) |  | 7,060 |  |  | 135,824 |  |  | — |  |  | 116,733 |
Income tax expense (benefit) |  | (5,821 | ) |  | 127 |  |  | 31,725 |  |  | — |  |  | 26,031 |
Equity in earnings of affiliates |  | 110,676 |  |  | — |  |  | 88 |  |  | (110,764 | ) |  | — |
Net income including noncontrolling interest |  | 90,346 |  |  | 6,933 |  |  | 104,187 |  |  | (110,764 | ) |  | 90,702 |
Net income attributable to noncontrolling interest |  | — |  |  | 356 |  |  | — |  |  | — |  |  | 356 |
Net income attributable to Central Garden & Pet Company |  | $ | 90,346 |  |  | $ | 6,577 |  |  | $ | 104,187 |  |  | $ | (110,764 | ) |  | $ | 90,346 |
|  | CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS
|  | Nine Months Ended June 30, 2018
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales |  | $ | 562,620 |  |  | $ | 139,298 |  |  | $ | 1,077,831 |  |  | $ | (66,701 | ) |  | $ | 1,713,048 |
Cost of goods sold and occupancy |  | 438,539 |  |  | 103,316 |  |  | 704,682 |  |  | (61,847 | ) |  | 1,184,690 |
Gross profit |  | 124,081 |  |  | 35,982 |  |  | 373,149 |  |  | (4,854 | ) |  | 528,358 |
Selling, general and administrative expenses |  | 124,290 |  |  | 25,274 |  |  | 234,522 |  |  | (4,854 | ) |  | 379,232 |
Operating income (loss) |  | (209 | ) |  | 10,708 |  |  | 138,627 |  |  | — |  |  | 149,126 |
Interest expense |  | (28,365 | ) |  | (203 | ) |  | (9 | ) |  | — |  |  | (28,577 | )
Interest income |  | 1,461 |  |  | 3 |  |  | — |  |  | — |  |  | 1,464 |
Other income (expense) |  | 155 |  |  | (140 | ) |  | 527 |  |  | — |  |  | 542 |
Income (loss) before taxes and equity in earnings of affiliates |  | (26,958 | ) |  | 10,368 |  |  | 139,145 |  |  | — |  |  | 122,555 |
Income tax expense (benefit) |  | (1,961 | ) |  | (31 | ) |  | 10,794 |  |  | — |  |  | 8,802 |
Equity in earnings of affiliates |  | 138,023 |  |  | — |  |  | 1,202 |  |  | (139,225 | ) |  | — |
Net income including noncontrolling interest |  | 113,026 |  |  | 10,399 |  |  | 129,553 |  |  | (139,225 | ) |  | 113,753 |
Net income attributable to noncontrolling interest |  | — |  |  | 727 |  |  | — |  |  | — |  |  | 727 |
Net income attributable to Central Garden & Pet Company |  | $ | 113,026 |  |  | $ | 9,672 |  |  | $ | 129,553 |  |  | $ | (139,225 | ) |  | $ | 113,026 |
Consolidating Condensed Statements of Comprehensive Income (Loss) |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
|  | Three Months Ended June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income |  | $ | 46,152 |  |  | $ | 18,203 |  |  | $ | 35,253 |  |  | $ | (53,267 | ) |  | $ | 46,341 |
Other comprehensive income (loss): |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  | (146 | ) |  | (132 | ) |  | 37 |  |  | 95 |  |  | (146 | )
Total comprehensive income |  | 46,006 |  |  | 18,071 |  |  | 35,290 |  |  | (53,172 | ) |  | 46,195 |
Comprehensive income attributable to noncontrolling interests |  | — |  |  | 189 |  |  | — |  |  | — |  |  | 189 |
Comprehensive income attributable to Central Garden & Pet Company |  | $ | 46,006 |  |  | $ | 17,882 |  |  | $ | 35,290 |  |  | $ | (53,172 | ) |  | $ | 46,006 |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
|  | Three Months Ended June 30, 2018
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income |  | $ | 41,545 |  |  | $ | 10,223 |  |  | $ | 35,935 |  |  | $ | (46,166 | ) |  | $ | 41,537 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  | (480 | ) |  | (323 | ) |  | (35 | ) |  | 358 |  |  | (480 | )
Total comprehensive income |  | 41,065 |  |  | 9,900 |  |  | 35,900 |  |  | (45,808 | ) |  | 41,057 |
Comprehensive loss attributable to noncontrolling interests |  | — |  |  | (8 | ) |  | — |  |  | — |  |  | (8 | )
Comprehensive income attributable to Central Garden & Pet Company |  | $ | 41,065 |  |  | $ | 9,908 |  |  | $ | 35,900 |  |  | $ | (45,808 | ) |  | $ | 41,065 |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
|  | Nine Months Ended June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income |  | $ | 90,346 |  |  | $ | 6,933 |  |  | $ | 104,187 |  |  | $ | (110,764 | ) |  | $ | 90,702 |
Other comprehensive loss: |  | — |  |  | — |  |  | — |  |  | — |  |  |  |
Foreign currency translation |  | (208 | ) |  | (134 | ) |  | (23 | ) |  | 157 |  |  | (208 | )
Total comprehensive income |  | 90,138 |  |  | 6,799 |  |  | 104,164 |  |  | (110,607 | ) |  | 90,494 |
Comprehensive income attributable to noncontrolling interests |  | — |  |  | 356 |  |  | — |  |  | — |  |  | 356 |
Comprehensive income attributable to Central Garden & Pet Company |  | $ | 90,138 |  |  | $ | 6,443 |  |  | $ | 104,164 |  |  | $ | (110,607 | ) |  | $ | 90,138 |
|  | CONSOLIDATING CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
|  | Nine Months Ended June 30, 2018
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net income |  | $ | 113,026 |  |  | $ | 10,399 |  |  | $ | 129,553 |  |  | $ | (139,225 | ) |  | $ | 113,753 |
Other comprehensive loss: |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  | (202 | ) |  | (74 | ) |  | (99 | ) |  | 173 |  |  | (202 | )
Total comprehensive income |  | 112,824 |  |  | 10,325 |  |  | 129,454 |  |  | (139,052 | ) |  | 113,551 |
Comprehensive income attributable to noncontrolling interests |  | — |  |  | 727 |  |  | — |  |  | — |  |  | 727 |
Comprehensive income attributable to Central Garden & Pet Company |  | $ | 112,824 |  |  | $ | 9,598 |  |  | $ | 129,454 |  |  | $ | (139,052 | ) |  | $ | 112,824 |
|  | CONSOLIDATING CONDENSED BALANCE SHEET
|  | June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 421,542 |  |  | $ | 3,761 |  |  | $ | 20,329 |  |  | $ | — |  |  | $ | 445,632 |
Restricted cash |  | 10,924 |  |  | — |  |  | — |  |  | — |  |  | 10,924 |
Short term investments |  | — |  |  | — |  |  | 119 |  |  | — |  |  | 119 |
Accounts receivable, net |  | 114,610 |  |  | 19,979 |  |  | 260,992 |  |  | — |  |  | 395,581 |
Inventories |  | 124,224 |  |  | 37,705 |  |  | 302,988 |  |  | — |  |  | 464,917 |
Prepaid expenses and other |  | 8,154 |  |  | 1,914 |  |  | 22,385 |  |  | — |  |  | 32,453 |
Total current assets |  | 679,454 |  |  | 63,359 |  |  | 606,813 |  |  | — |  |  | 1,349,626 |
Land, buildings, improvements and equipment, net |  | 28,181 |  |  | 35,674 |  |  | 175,093 |  |  | — |  |  | 238,948 |
Goodwill |  | 20,578 |  |  | 7,414 |  |  | 253,185 |  |  | — |  |  | 281,177 |
Other long-term assets |  | 44,637 |  |  | 6,235 |  |  | 147,937 |  |  | (3,642 | ) |  | 195,167 |
Intercompany receivable |  | 32,503 |  |  | — |  |  | 764,826 |  |  | (797,329 | ) |  | — |
Investment in subsidiaries |  | 1,770,053 |  |  | — |  |  | — |  |  | (1,770,053 | ) |  | — |
Total |  | $ | 2,575,406 |  |  | $ | 112,682 |  |  | $ | 1,947,854 |  |  | $ | (2,571,024 | ) |  | $ | 2,064,918 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 40,953 |  |  | $ | 15,456 |  |  | $ | 81,259 |  |  | $ | — |  |  | $ | 137,668 |
Accrued expenses |  | 54,442 |  |  | 7,581 |  |  | 79,006 |  |  | — |  |  | 141,029 |
Current portion of long-term debt |  | 116 |  |  | — |  |  | — |  |  | — |  |  | 116 |
Total current liabilities |  | 95,511 |  |  | 23,037 |  |  | 160,265 |  |  | — |  |  | 278,813 |
Long-term debt |  | 692,748 |  |  | — |  |  | 200 |  |  | — |  |  | 692,948 |
Intercompany payable |  | 746,732 |  |  | 50,597 |  |  | — |  |  | (797,329 | ) |  | — |
Losses in excess of investment in subsidiaries |  | — |  |  | — |  |  | 25,199 |  |  | (25,199 | ) |  | — |
Other long-term obligations |  | 6,770 |  |  | — |  |  | 55,706 |  |  | (3,642 | ) |  | 58,834 |
Total Central Garden & Pet shareholders’ equity |  | 1,033,645 |  |  | 38,370 |  |  | 1,706,484 |  |  | (1,744,854 | ) |  | 1,033,645 |
Noncontrolling interest |  | — |  |  | 678 |  |  | — |  |  |  |  |  | 678 |
Total equity |  | 1,033,645 |  |  | 39,048 |  |  | 1,706,484 |  |  | (1,744,854 | ) |  | 1,034,323 |
Total |  | $ | 2,575,406 |  |  | $ | 112,682 |  |  | $ | 1,947,854 |  |  | $ | (2,571,024 | ) |  | $ | 2,064,918 |
Consolidating Condensed Balance Sheet |
|  | CONSOLIDATING CONDENSED BALANCE SHEET
|  | June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 421,542 |  |  | $ | 3,761 |  |  | $ | 20,329 |  |  | $ | — |  |  | $ | 445,632 |
Restricted cash |  | 10,924 |  |  | — |  |  | — |  |  | — |  |  | 10,924 |
Short term investments |  | — |  |  | — |  |  | 119 |  |  | — |  |  | 119 |
Accounts receivable, net |  | 114,610 |  |  | 19,979 |  |  | 260,992 |  |  | — |  |  | 395,581 |
Inventories |  | 124,224 |  |  | 37,705 |  |  | 302,988 |  |  | — |  |  | 464,917 |
Prepaid expenses and other |  | 8,154 |  |  | 1,914 |  |  | 22,385 |  |  | — |  |  | 32,453 |
Total current assets |  | 679,454 |  |  | 63,359 |  |  | 606,813 |  |  | — |  |  | 1,349,626 |
Land, buildings, improvements and equipment, net |  | 28,181 |  |  | 35,674 |  |  | 175,093 |  |  | — |  |  | 238,948 |
Goodwill |  | 20,578 |  |  | 7,414 |  |  | 253,185 |  |  | — |  |  | 281,177 |
Other long-term assets |  | 44,637 |  |  | 6,235 |  |  | 147,937 |  |  | (3,642 | ) |  | 195,167 |
Intercompany receivable |  | 32,503 |  |  | — |  |  | 764,826 |  |  | (797,329 | ) |  | — |
Investment in subsidiaries |  | 1,770,053 |  |  | — |  |  | — |  |  | (1,770,053 | ) |  | — |
Total |  | $ | 2,575,406 |  |  | $ | 112,682 |  |  | $ | 1,947,854 |  |  | $ | (2,571,024 | ) |  | $ | 2,064,918 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 40,953 |  |  | $ | 15,456 |  |  | $ | 81,259 |  |  | $ | — |  |  | $ | 137,668 |
Accrued expenses |  | 54,442 |  |  | 7,581 |  |  | 79,006 |  |  | — |  |  | 141,029 |
Current portion of long-term debt |  | 116 |  |  | — |  |  | — |  |  | — |  |  | 116 |
Total current liabilities |  | 95,511 |  |  | 23,037 |  |  | 160,265 |  |  | — |  |  | 278,813 |
Long-term debt |  | 692,748 |  |  | — |  |  | 200 |  |  | — |  |  | 692,948 |
Intercompany payable |  | 746,732 |  |  | 50,597 |  |  | — |  |  | (797,329 | ) |  | — |
Losses in excess of investment in subsidiaries |  | — |  |  | — |  |  | 25,199 |  |  | (25,199 | ) |  | — |
Other long-term obligations |  | 6,770 |  |  | — |  |  | 55,706 |  |  | (3,642 | ) |  | 58,834 |
Total Central Garden & Pet shareholders’ equity |  | 1,033,645 |  |  | 38,370 |  |  | 1,706,484 |  |  | (1,744,854 | ) |  | 1,033,645 |
Noncontrolling interest |  | — |  |  | 678 |  |  | — |  |  |  |  |  | 678 |
Total equity |  | 1,033,645 |  |  | 39,048 |  |  | 1,706,484 |  |  | (1,744,854 | ) |  | 1,034,323 |
Total |  | $ | 2,575,406 |  |  | $ | 112,682 |  |  | $ | 1,947,854 |  |  | $ | (2,571,024 | ) |  | $ | 2,064,918 |
|  | CONSOLIDATING CONDENSED BALANCE SHEET
|  | June 30, 2018
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 196,051 |  |  | $ | 5,060 |  |  | $ | 3,277 |  |  | $ | — |  |  | $ | 204,388 |
Restricted cash |  | 13,978 |  |  | — |  |  | — |  |  | — |  |  | 13,978 |
Accounts receivable, net |  | 122,534 |  |  | 20,612 |  |  | 205,635 |  |  | — |  |  | 348,781 |
Inventories |  | 124,029 |  |  | 36,841 |  |  | 267,137 |  |  | — |  |  | 428,007 |
Prepaid expenses and other |  | 6,032 |  |  | 2,065 |  |  | 18,638 |  |  | — |  |  | 26,735 |
Total current assets |  | 462,624 |  |  | 64,578 |  |  | 494,687 |  |  | — |  |  | 1,021,889 |
Land, buildings, improvements and equipment, net |  | 35,000 |  |  | 34,024 |  |  | 142,793 |  |  | — |  |  | 211,817 |
Goodwill |  | 15,058 |  |  | — |  |  | 253,185 |  |  | — |  |  | 268,243 |
Other long-term assets |  | 72,697 |  |  | 14,009 |  |  | 131,010 |  |  | (11,260 | ) |  | 206,456 |
Intercompany receivable |  | 40,342 |  |  | — |  |  | 684,808 |  |  | (725,150 | ) |  | — |
Investment in subsidiaries |  | 1,583,729 |  |  | — |  |  | — |  |  | (1,583,729 | ) |  | — |
Total |  | $ | 2,209,450 |  |  | $ | 112,611 |  |  | $ | 1,706,483 |  |  | $ | (2,320,139 | ) |  | $ | 1,708,405 |
LIABILITIES AND EQUITY |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 32,330 |  |  | $ | 13,242 |  |  | $ | 62,557 |  |  | $ | — |  |  | $ | 108,129 |
Accrued expenses |  | 61,367 |  |  | 7,256 |  |  | 54,274 |  |  | — |  |  | 122,897 |
Current portion of long-term debt |  | 106 |  |  | — |  |  | 13 |  |  | — |  |  | 119 |
Total current liabilities |  | 93,803 |  |  | 20,498 |  |  | 116,844 |  |  | — |  |  | 231,145 |
Long-term debt |  | 691,591 |  |  | — |  |  | 150 |  |  | — |  |  | 691,741 |
Intercompany payable |  | 671,405 |  |  | 53,745 |  |  | — |  |  | (725,150 | ) |  | — |
Losses in excess of investment in subsidiaries |  | — |  |  | — |  |  | 24,967 |  |  | (24,967 | ) |  | — |
Other long-term obligations |  | 8,516 |  |  | — |  |  | 43,542 |  |  | (11,260 | ) |  | 40,798 |
Total Central Garden & Pet shareholders’ equity (deficit) |  | 744,135 |  |  | 37,782 |  |  | 1,520,980 |  |  | (1,558,762 | ) |  | 744,135 |
Noncontrolling interest |  | — |  |  | 586 |  |  | — |  |  | — |  |  | 586 |
Total equity |  | 744,135 |  |  | 38,368 |  |  | 1,520,980 |  |  | (1,558,762 | ) |  | 744,721 |
Total |  | $ | 2,209,450 |  |  | $ | 112,611 |  |  | $ | 1,706,483 |  |  | $ | (2,320,139 | ) |  | $ | 1,708,405 |
|  | 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 |  | 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
|  | Nine Months Ended June 29, 2019
|  | (in thousands)
|  | Parent |  | Non- Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash provided by operating activities |  | $ | 10,831 |  |  | $ | 7,468 |  |  | $ | 74,755 |  |  | $ | (250 | ) |  | $ | 92,804 |
Additions to property and equipment |  | (2,705 | ) |  | (3,691 | ) |  | (14,492 | ) |  | — |  |  | (20,888 | )
Payments to acquire companies, net of cash acquired |  | (41,158 | ) |  | — |  |  | — |  |  | — |  |  | (41,158 | )
Investments |  | (1,749 | ) |  | — |  |  | (9 | ) |  | — |  |  | (1,758 | )
Other investing activities |  | (453 | ) |  | — |  |  | (750 | ) |  | — |  |  | (1,203 | )
Intercompany investing activities |  | 7,861 |  |  | — |  |  | 5,060 |  |  | (12,921 | ) |  | — |
Net cash used by investing activities |  | (38,204 | ) |  | (3,691 | ) |  | (10,191 | ) |  | (12,921 | ) |  | (65,007 | )
Repayments of long-term debt |  | (90 | ) |  | — |  |  | (46,072 | ) |  | — |  |  | (46,162 | )
Repurchase of common stock |  | (17,796 | ) |  | — |  |  | — |  |  | — |  |  | (17,796 | )
Distribution to parent |  | — |  |  | (250 | ) |  | — |  |  | 250 |  |  | — |
Distribution to noncontrolling interest |  | — |  |  | (64 | ) |  | — |  |  | — |  |  | (64 | )
Payment of contingent consideration liability |  | — |  |  | — |  |  | (104 | ) |  | — |  |  | (104 | )
Intercompany financing activities |  | (7,199 | ) |  | (5,722 | ) |  | — |  |  | 12,921 |  |  | — |
Net cash used by financing activities |  | (25,085 | ) |  | (6,036 | ) |  | (46,176 | ) |  | 13,171 |  |  | (64,126 | )
Effect of exchange rate changes on cash, cash equivalents and restricted cash |  | (185 | ) |  | 15 |  |  | 50 |  |  | — |  |  | (120 | )
Net increase (decrease) in cash, cash equivalents and restricted cash |  | (52,643 | ) |  | (2,244 | ) |  | 18,438 |  |  | — |  |  | (36,449 | )
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 |  | $ | 432,466 |  |  | $ | 3,761 |  |  | $ | 20,329 |  |  | $ | — |  |  | $ | 456,556 |
|  | CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS
|  | Nine Months Ended June 30, 2018
|  | (in thousands)
|  | Parent |  | Non-Guarantor Subsidiaries |  | Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net cash (used) provided by operating activities |  | $ | (20,284 | ) |  | $ | (101 | ) |  | $ | 44,534 |  |  | $ | (6,387 | ) |  | $ | 17,762 |
Additions to property, plant and equipment |  | (6,508 | ) |  | (986 | ) |  | (19,509 | ) |  | — |  |  | (27,003 | )
Payments to acquire companies, net of cash acquired |  | (86,777 | ) |  | — |  |  | — |  |  | — |  |  | (86,777 | )
Investments |  | (8,048 | ) |  | — |  |  | — |  |  | — |  |  | (8,048 | )
Other investing activities |  | (2,655 | ) |  | — |  |  | — |  |  | — |  |  | (2,655 | )
Intercompany investing activities |  | (3,737 | ) |  | — |  |  | (22,671 | ) |  | 26,408 |  |  | — |
Net cash used by investing activities |  | (107,725 | ) |  | (986 | ) |  | (42,180 | ) |  | 26,408 |  |  | (124,483 | )
Repayments under revolving line of credit |  | (23,000 | ) |  | — |  |  | — |  |  | — |  |  | (23,000 | )
Borrowings under revolving line of credit |  | 23,000 |  |  | — |  |  | — |  |  | — |  |  | 23,000 |
Repayments of long-term debt |  | (27 | ) |  | — |  |  | (368 | ) |  | — |  |  | (395 | )
Issuance of long-term debt |  | 300,000 |  |  | — |  |  | — |  |  | — |  |  | 300,000 |
Payment of financing costs |  | (4,770 | ) |  | — |  |  | — |  |  | — |  |  | (4,770 | )
Repurchase of common stock |  | (12,942 | ) |  | — |  |  | — |  |  | — |  |  | (12,942 | )
Distribution to parent |  | — |  |  | (6,387 | ) |  | — |  |  | 6,387 |  |  | — |
Distribution to noncontrolling interest |  | — |  |  | (1,597 | ) |  | — |  |  | — |  |  | (1,597 | )
Payment of contingent consideration |  | — |  |  | — |  |  | (204 | ) |  | — |  |  | (204 | )
Intercompany financing activities |  | 23,997 |  |  | 2,411 |  |  | — |  |  | (26,408 | ) |  | — |
Net cash provided (used) by financing activities |  | 306,258 |  |  | (5,573 | ) |  | (572 | ) |  | (20,021 | ) |  | 280,092 |
Effect of exchange rates on cash, cash equivalents and restricted cash |  | (103 | ) |  | 27 |  |  | 29 |  |  | — |  |  | (47 | )
Net increase (decrease) in cash, cash equivalents and restricted cash |  | 178,146 |  |  | (6,633 | ) |  | 1,811 |  |  | — |  |  | 173,324 |
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 |  | $ | 210,029 |  |  | $ | 5,060 |  |  | $ | 3,277 |  |  | $ | — |  |  | $ | 218,366 |

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