Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||||||
Sep. 28, 2013 | Mar. 30, 2013 | Dec. 01, 2013 | Dec. 01, 2013 | Mar. 30, 2013 | Dec. 01, 2013 | Mar. 30, 2013 | |
Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class B Stock [Member] | Class B Stock [Member] | |||
Document Information [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Document Type | '10-K | ' | ' | ' | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' | ' | ' | ' |
Document Period End Date | 28-Sep-13 | ' | ' | ' | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' | ' | ' | ' |
Trading Symbol | 'CENT | ' | ' | ' | ' | ' | ' |
Entity Registrant Name | 'CENTRAL GARDEN & PET CO | ' | ' | ' | ' | ' | ' |
Entity Central Index Key | '0000887733 | ' | ' | ' | ' | ' | ' |
Current Fiscal Year End Date | '--09-28 | ' | ' | ' | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' | ' | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' | ' | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' | ' | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 12,246,751 | 35,385,956 | ' | 1,652,262 | ' |
Entity Public Float | ' | $90,700,000 | ' | ' | $257,100,000 | ' | $53,900 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $15,156 | $48,475 |
Short term investments | 17,820 | 22,705 |
Accounts receivable, net | 194,260 | 202,422 |
Inventories | 391,934 | 330,032 |
Prepaid expenses, deferred income taxes and other | 53,484 | 48,149 |
Total current assets | 672,654 | 651,783 |
Plant, property and equipment, net | 188,913 | 191,163 |
Goodwill | 205,756 | 210,223 |
Other intangible assets, net | 79,868 | 78,853 |
Other assets | 13,969 | 17,525 |
Total | 1,161,160 | 1,149,547 |
Current liabilities: | ' | ' |
Accounts payable | 103,569 | 126,662 |
Accrued expenses | 78,618 | 79,491 |
Current portion of long-term debt | 142 | 331 |
Total current liabilities | 182,329 | 206,484 |
Long-term debt | 472,445 | 449,483 |
Deferred income taxes and other long-term obligations | 36,362 | 28,697 |
Commitments and contingencies (Note 12) | ' | ' |
Equity: | ' | ' |
Common stock | 122 | 122 |
Additional paid-in capital | 389,153 | 382,195 |
Retained earnings | 77,592 | 79,718 |
Accumulated other comprehensive income | 1,442 | 1,539 |
Total Central Garden & Pet shareholders' equity | 468,678 | 463,937 |
Noncontrolling interest | 1,346 | 946 |
Total equity | 470,024 | 464,883 |
Total | 1,161,160 | 1,149,547 |
Class A Common Stock [Member] | ' | ' |
Equity: | ' | ' |
Common stock | 353 | 347 |
Total equity | 353 | 347 |
Class B Stock [Member] | ' | ' |
Equity: | ' | ' |
Common stock | 16 | 16 |
Total equity | $16 | $16 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 23, 2012 | Mar. 24, 2012 | Dec. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $368,837 | $494,130 | $498,169 | $292,497 | $397,236 | $533,808 | $466,903 | $302,066 | $1,653,633 | $1,700,013 | $1,628,652 |
Cost of goods sold and occupancy | ' | ' | ' | ' | ' | ' | ' | ' | 1,189,731 | 1,185,855 | 1,134,733 |
Gross profit | 81,307 | 152,466 | 153,170 | 76,959 | 105,072 | 180,652 | 147,696 | 80,738 | 463,902 | 514,158 | 493,919 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 416,038 | 439,737 | 408,744 |
Goodwill impairment | 7,709 | ' | ' | ' | ' | ' | ' | ' | 7,709 | 0 | 0 |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 40,155 | 74,421 | 85,175 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -43,112 | -40,315 | -38,044 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 142 | 145 | 296 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -677 | 678 | 550 |
Income (loss) before income taxes and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,492 | 34,929 | 47,977 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -2,592 | 12,816 | 19,595 |
Net income (loss) including noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -900 | 22,113 | 28,382 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1,029 | 940 | 59 |
Net income (loss) attributable to Central Garden & Pet Company | ($22,581) | $13,725 | $22,196 | ($15,269) | ($10,059) | $22,699 | $21,623 | ($13,090) | ($1,929) | $21,173 | $28,323 |
Net income (loss) per share attributable to Central Garden & Pet Company: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ($0.47) | $0.28 | $0.46 | ($0.32) | ($0.21) | $0.48 | $0.46 | ($0.27) | ($0.04) | $0.44 | $0.50 |
Diluted | ($0.47) | $0.28 | $0.46 | ($0.32) | ($0.21) | $0.47 | $0.45 | ($0.27) | ($0.04) | $0.44 | $0.50 |
Weighted average shares used in the computation of net income per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | 48,264 | 48,173 | 48,064 | 47,871 | 47,704 | 47,661 | 47,343 | 47,823 | 48,094 | 47,622 | 56,217 |
Diluted | 48,264 | 48,822 | 48,740 | 47,871 | 47,704 | 48,388 | 48,036 | 47,823 | 48,094 | 48,374 | 56,645 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' |
Net income (loss) | ($900) | $22,113 | $28,382 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation | -97 | 520 | 75 |
Total comprehensive income (loss) | -997 | 22,633 | 28,457 |
Comprehensive income attributable to noncontrolling interests | 1,029 | 940 | 59 |
Comprehensive income (loss) attributable to Central Garden & Pet Company | ($2,026) | $21,693 | $28,398 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Common Stock [Member] | Class A Common Stock [Member] | Class B Stock [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] | Parent [Member] | Noncontrolling Interest [Member] |
In Thousands, except Share data | |||||||||
Balance, Beginning balance at Sep. 25, 2010 | $532,143 | $163 | $437 | $16 | $483,817 | $45,319 | $944 | $530,696 | $1,447 |
Shares, Issued, Beginning Balance at Sep. 25, 2010 | ' | 16,258,704 | 43,696,426 | 1,652,262 | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | 75 | 0 | 0 | 0 | 0 | 0 | 75 | 75 | 0 |
Stock-based compensation | 5,545 | 0 | 0 | 0 | 5,545 | 0 | 0 | 5,545 | 0 |
Tax benefit/deficiency on exercise of stock options, net of tax benefit | -501 | 0 | 0 | 0 | -501 | 0 | 0 | -501 | 0 |
Restricted share activity | -264 | -1 | 4 | ' | -267 | ' | ' | -264 | ' |
Restricted share activity, shares | ' | -5,867 | 470,009 | 0 | ' | ' | ' | ' | ' |
Issuance of common stock | 1,574 | 0 | 4 | 0 | 1,570 | 0 | 0 | 1,574 | 0 |
Issuance of common stock, shares | ' | 14,401 | 421,183 | 0 | ' | ' | ' | ' | ' |
Repurchase of common stock | -108,672 | -33 | -86 | 0 | -93,956 | -14,597 | 0 | -108,672 | 0 |
Repurchase of common stock, shares | ' | -3,317,645 | -8,646,258 | 0 | ' | ' | ' | ' | ' |
Distribution to noncontrolling interest | -1,500 | ' | ' | ' | ' | ' | ' | ' | -1,500 |
Net income (loss) | 28,382 | 0 | 0 | 0 | 0 | 28,323 | 0 | 28,323 | 59 |
Balance, Ending balance at Sep. 24, 2011 | 456,782 | 129 | 359 | 16 | 396,208 | 59,045 | 1,019 | 456,776 | 6 |
Shares, Issued, Ending Balance at Sep. 24, 2011 | ' | 12,949,593 | 35,941,360 | 1,652,262 | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | 520 | 0 | 0 | 0 | 0 | 0 | 520 | 520 | 0 |
Stock-based compensation | 5,449 | 0 | 0 | 0 | 5,449 | 0 | 0 | 5,449 | 0 |
Tax benefit/deficiency on exercise of stock options, net of tax benefit | 56 | 0 | 0 | 0 | 56 | 0 | 0 | 56 | 0 |
Restricted share activity | 370 | 0 | 1 | ' | 369 | ' | ' | 370 | ' |
Restricted share activity, shares | ' | -9,722 | 90,540 | ' | ' | ' | ' | ' | ' |
Issuance of common stock | 477 | 0 | 6 | 0 | 471 | 0 | 0 | 477 | 0 |
Issuance of common stock, shares | ' | 0 | 579,702 | 0 | ' | ' | ' | ' | ' |
Repurchase of common stock | -20,884 | -7 | -19 | 0 | -20,358 | -500 | 0 | -20,884 | 0 |
Repurchase of common stock, shares | ' | -692,300 | -1,904,700 | 0 | ' | ' | ' | ' | ' |
Net income (loss) | 22,113 | 0 | 0 | 0 | 0 | 21,173 | 0 | 21,173 | 940 |
Balance, Ending balance at Sep. 29, 2012 | 464,883 | 122 | 347 | 16 | 382,195 | 79,718 | 1,539 | 463,937 | 946 |
Shares, Issued, Ending Balance at Sep. 29, 2012 | ' | 12,247,571 | 34,706,902 | 1,652,262 | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | -97 | 0 | 0 | 0 | 0 | 0 | -97 | -97 | 0 |
Stock-based compensation | 4,210 | 0 | 0 | 0 | 4,210 | 0 | 0 | 4,210 | 0 |
Tax benefit/deficiency on exercise of stock options, net of tax benefit | -90 | 0 | 0 | 0 | -90 | 0 | 0 | -90 | 0 |
Restricted share activity | 2,464 | 0 | 4 | ' | 2,460 | ' | ' | 2,464 | ' |
Restricted share activity, shares | ' | -820 | 442,238 | ' | ' | ' | ' | ' | ' |
Issuance of common stock | 1,686 | 0 | 3 | 0 | 1,683 | 0 | 0 | 1,686 | 0 |
Issuance of common stock, shares | ' | 0 | 307,761 | 0 | ' | ' | ' | ' | ' |
Repurchase of common stock | -1,503 | 0 | -1 | 0 | -1,305 | -197 | 0 | -1,503 | 0 |
Repurchase of common stock, shares | ' | 0 | -165,900 | 0 | ' | ' | ' | ' | ' |
Distribution to noncontrolling interest | -629 | ' | ' | ' | ' | ' | ' | ' | -629 |
Net income (loss) | -900 | 0 | 0 | 0 | 0 | -1,929 | 0 | -1,929 | 1,029 |
Balance, Ending balance at Sep. 28, 2013 | $470,024 | $122 | $353 | $16 | $389,153 | $77,592 | $1,442 | $468,678 | $1,346 |
Shares, Issued, Ending Balance at Sep. 28, 2013 | ' | 12,246,751 | 35,291,001 | 1,652,262 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | ($900) | $22,113 | $28,382 |
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities: | ' | ' | ' |
Depreciation and amortization | 32,968 | 30,425 | 28,566 |
Stock-based compensation | 15,892 | 7,510 | 7,447 |
Excess tax benefits from stock-based awards | -388 | -1,881 | -945 |
Deferred income taxes | -3,233 | 14,411 | 25,289 |
Loss on acquisition of business | 370 | 0 | 0 |
Loss on sale of property, plant and equipment | 547 | 180 | 110 |
Unrealized (gains) losses on derivative financial instruments | 0 | -83 | 57 |
Goodwill impairment | 7,709 | 0 | 0 |
Changes in assets and liabilities (excluding businesses acquired): | ' | ' | ' |
Receivables | 8,185 | -6,841 | 37 |
Inventories | -61,697 | -164 | -31,683 |
Prepaid expenses and other assets | 4,798 | 7,549 | -3,339 |
Accounts payable | -23,866 | 9,805 | 7,404 |
Accrued expenses | -7,781 | 4,955 | -9,956 |
Other long-term obligations | -886 | 1,190 | -361 |
Net cash provided (used) by operating activities | -28,282 | 89,169 | 51,008 |
Cash flows from investing activities: | ' | ' | ' |
Additions to property, plant and equipment | -25,172 | -39,592 | -31,563 |
Businesses acquired, net of cash acquired | -4,835 | 0 | -25,307 |
Return of equity method investment | 0 | 0 | 3,133 |
Sale of (investment in) short-term investments | 4,885 | -4,885 | -2,500 |
Net cash used by investing activities | -25,122 | -44,477 | -56,237 |
Cash flows from financing activities: | ' | ' | ' |
Repayments on revolving line of credit | -368,000 | -339,000 | -668,000 |
Borrowings on revolving line of credit | 391,000 | 304,000 | 703,000 |
Repayments of long-term debt | -332 | -353 | -335 |
Issuance of long-term debt | 0 | 49,312 | 0 |
Proceeds from issuance of common stock | 613 | 2,129 | 1,675 |
Excess tax benefits from stock-based awards | 388 | 1,881 | 945 |
Repurchase of common stock, including shares surrendered for tax withholding | -2,731 | -24,829 | -108,727 |
Distribution to noncontrolling interest | -629 | 0 | -1,500 |
Payment of financing costs | 0 | -1,715 | -1,055 |
Net cash provided (used) by financing activities | 20,309 | -8,575 | -73,997 |
Effect of exchange rate changes on cash and equivalents | -224 | 327 | -203 |
Net (decrease) increase in cash and cash equivalents | -33,319 | 36,444 | -79,429 |
Cash and cash equivalents at beginning of year | 48,475 | 12,031 | 91,460 |
Cash and cash equivalents at end of year | 15,156 | 48,475 | 12,031 |
Supplemental information: | ' | ' | ' |
Cash paid for interest | 42,960 | 40,930 | 37,936 |
Cash paid for income taxes - net of refunds | -2,493 | -8,048 | -947 |
Non-cash investing activities: | ' | ' | ' |
Capital expenditures incurred but not paid | 926 | 1,677 | 1,974 |
Liability for contingent performance based payments | 4,165 | 0 | 0 |
Non-cash financing activities: | ' | ' | ' |
Repurchased shares not yet settled | 0 | 0 | 2,211 |
Restricted share stock bonus | $9,579 | $948 | $0 |
Organization_and_Significant_A
Organization and Significant Accounting Policies | 12 Months Ended |
Sep. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Organization and Significant Accounting Policies | ' |
1. Organization and Significant Accounting Policies | |
Organization – Central Garden & Pet Company (“Central”), a Delaware corporation, and subsidiaries (the “Company”), is a leading marketer and producer of quality branded products for the pet and lawn and garden supplies markets. | |
Basis of Consolidation and Presentation – The consolidated financial statements include the accounts of Central and all majority-owned subsidiaries. Noncontrolling interests in consolidated entities are recognized for the share of assets, liabilities and operating results not owned by Central. All intercompany balances and transactions have been eliminated. The fiscal years ended September 28, 2013 and September 24, 2011 included 52 weeks; the fiscal year ended September 29, 2012 included 53 weeks. | |
Noncontrolling Interest – Noncontrolling interest in the Company’s consolidated financial statements represents the 20% interest not owned by the Company in a consolidated subsidiary. Since the Company controls this subsidiary, its financial statements are fully consolidated with those of the Company, and the noncontrolling owner’s 20% share of the subsidiary’s net assets and results of operations is deducted and reported as noncontrolling interest on the consolidated balance sheets and as net income (loss) attributable to noncontrolling interest in the consolidated statements of operations. | |
Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including realization of accounts receivable and inventory and valuation of goodwill. Actual results could differ from those estimates. | |
Revenue Recognition – Sales are recognized when merchandise is shipped, risk of loss and title passes to the customer and the Company has no further obligations to provide services related to such merchandise. Discounts, volume-based rebate incentives and most cooperative advertising amounts are recorded as a reduction of sales. The Company’s practice on product returns is to accept and credit the return of unopened cases of products from customers where the quantity is small, where the product has been mis-shipped or the product is defective. Provisions are made for estimated sales returns which are deducted from net sales at the time of shipment. Sales also include shipping and handling costs billed directly to customers. The amount billed to customers for shipping and handling costs included in net sales for the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 was $6.9 million, $4.8 million and $2.7 million, respectively. | |
Cost of goods sold and occupancy consists of cost of product, inbound freight charges, purchasing and receiving costs, certain indirect purchasing, merchandise handling and storage costs, internal transfer costs as well as allocations of overhead costs, including depreciation, related to the Company’s facilities. Cost of goods sold excludes substantially all shipping and handling and out-bound freight costs to customers, which are included in selling, general and administrative expenses as delivery expenses. The cost of shipping and handling, including internal costs and payments to third parties, included in delivery expenses within selling, general and administrative expenses for the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 was $47.7 million, $54.6 million and $49.7 million, respectively. | |
Advertising Costs – The Company expenses the costs of advertising as incurred. Advertising expenses were $44.5 million, $54.4 million and $39.6 million in fiscal 2013, 2012, and 2011, respectively. | |
401(k) Plans – The Company sponsors several 401(k) plans which cover substantially all employees. The Company’s matching contributions expensed under these plans were $2.1 million for each of the fiscal years 2013, 2012 and 2011. In fiscal 2013, 2012 and 2011, the Company’s matching contributions made in the Company’s Class A common stock resulted in the issuance of approximately 229,000, 230,000 and 190,000 shares, respectively. | |
Other income consists principally of earnings from equity method investments and foreign exchange gains and losses. | |
Income taxes are accounted for under the asset and liability method. Deferred income taxes result primarily from bad debt allowances, inventory and goodwill write-downs, amortization and depreciation. The Company establishes a valuation allowance for deferred tax assets when management believes it is more likely than not a deferred tax asset will not be realized. As of fiscal year-end 2013 and 2012, the Company had valuation allowances related to various state and foreign net deferred tax assets of $7.0 million and $7.3 million, respectively. The Company has no undistributed foreign earnings. | |
Cash and cash equivalents include all highly liquid debt instruments with a maturity of three months or less at the date of purchase. | |
Short term investments include investments with original maturities greater than three months and remaining maturities of one year or less. Short-term investments classified as held-to-maturity are financial instruments that the Company has the intent and ability to hold to maturity and are reported at amortized cost and are not remeasured to fair value on a recurring basis. | |
Accounts receivable are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus trade receivables do not bear interest, although a finance charge may be applied to such receivables that are past due. | |
Allowance for doubtful accounts – Trade accounts receivable are regularly evaluated for collectability based on past credit history with customers and their current financial condition. | |
Inventories, which primarily consist of garden products and pet supplies finished goods, are stated at the lower of FIFO cost or market. Cost includes certain indirect purchasing, merchandise handling and storage costs incurred to acquire or manufacture inventory, costs to unload, process and put away shipments received in order to prepare them to be picked for orders, and certain other overhead costs. The amount of such costs capitalized to inventory is computed based on an estimate of costs related to the procurement and processing of inventory to prepare it for sale compared to total product purchases. | |
Long-Lived Assets – The Company reviews its long-lived assets, including amortizable and indefinite-lived intangible assets and property, plant and equipment, for potential impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable, and annually for indefinite-lived intangible assets. An impairment loss would be recognized for amortizable intangible assets and property, plant and equipment when estimated undiscounted future cash flows expected to result from the use of the asset are less than its carrying amount. An impairment loss would be recognized for an intangible asset with an indefinite useful life if its carrying value exceeds its fair value. Impairment, if any, is measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value. Should market conditions or the assumptions used by the Company in determining the fair value of assets change, or management changes plans regarding the future use of certain assets, additional charges to operations may be required in the period in which such conditions occur. See Note 10 – Other Intangible Assets. | |
Land, buildings, improvements and equipment are stated at cost. Depreciation is computed by the straight-line method over thirty years for buildings. Improvements are amortized on a straight-line basis over the shorter of the useful life of the asset or the terms of the related leases. Depreciation on equipment and capitalized software is computed by the straight-line and accelerated methods over the estimated useful lives of 3 to 10 years. | |
Goodwill represents the excess of cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. Identifiable intangible assets acquired in business combinations are recorded based on their fair values at the date of acquisition. Goodwill is not subject to amortization but must be evaluated for impairment annually. The Company tests for goodwill impairment annually or whenever events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. See Note 9 – Goodwill. | |
Investments – The Company owns membership interests approximating 50% in two unconsolidated companies. The Company accounts for its interest in these entities using the equity method. Equity income of $0.9 million in fiscal 2013, $0.7 million in fiscal 2012 and $0.9 million in fiscal 2011 is included in other income in the consolidated statements of operations. The Company’s investment in these entities was $0.8 million at September 28, 2013 and $1.3 million at September 29, 2012. On a combined basis, the assets, liabilities, revenues and expenses of these entities are not significant. | |
Accruals For Insurance – The Company maintains insurance for certain risks, including workers’ compensation, general liability and vehicle liability, and is self-insured for employee related health care benefits. The Company’s workers’ compensation, general liability and vehicle liability insurance policies include deductibles of $250,000 to $350,000 per occurrence. The Company maintains excess loss insurance that covers any health care claims in excess of $700,000 per person per year. The Company establishes reserves for losses based on its claims experience and actuarial estimates of the ultimate loss amount inherent in the claims, including claims incurred but not yet reported. Costs are recognized in the period the claim is incurred, and the financial statement accruals include an estimate of claims incurred but not yet reported. | |
Fair Value of Financial Instruments – At September 28, 2013 and September 29, 2012, the carrying amount of cash and cash equivalents, short term investments, accounts receivable and payable, short term borrowings and accrued liabilities approximates fair value because of the short term nature of these instruments. The estimated fair value of the Company’s senior subordinated notes is based on quoted market prices for these instruments. See Note 2 for further information regarding the fair value of the Company’s financial instruments. | |
Derivative Financial Instruments – The Company reports all derivative financial instruments on the balance sheet at fair value. Changes in fair value are recognized in earnings, or are deferred, depending on the nature of the underlying exposure being hedged and how effective the derivative is at offsetting a change in the underlying exposure. | |
The Company principally uses a combination of purchase orders and various short and long-term supply arrangements in connection with the purchase of raw materials, including certain commodities. The Company also enters into commodity futures, options and swap contracts to reduce the volatility of price fluctuations of corn, which impacts the cost of raw materials. The Company’s primary objective when entering into these derivative contracts is to achieve greater certainty with regard to the future price of commodities purchased for use in its supply chain. These derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures. The Company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments. | |
The Company did not perform the assessments required to achieve hedge accounting for commodity derivative positions. Accordingly, the changes in the values of these derivatives are recorded currently in its consolidated statements of operations. As of September 28, 2013 and September 29, 2012, the notional amount of these contracts was not significant. | |
Stock-Based Compensation – Stock-based compensation cost is estimated at the grant date based on the fair value of the award and is expensed ratably over the service period of the award. Total compensation costs recognized under all share-based arrangements in fiscal 2013 was $15.9 million ($10.0 million after tax), in fiscal 2012 was $7.5 million ($4.7 million after tax) and in fiscal 2011 was $7.4 million ($4.4 million after tax). See Note 13 for further information. | |
Total Comprehensive Income (Loss) – Total comprehensive income (loss) consists of two components: net income and other comprehensive income (loss). Other comprehensive income (loss) refers to gains and losses that under generally accepted accounting principles are recorded directly as an element of shareholders’ equity, but are excluded from net income. Other comprehensive income (loss) is comprised of currency translation adjustments relating to the Company’s foreign subsidiary whose functional currency is not the U.S. dollar. The Company does not have any undistributed foreign earnings. | |
Recent Accounting Pronouncements – In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income.” ASU No. 2011-05 requires that all nonowner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements, eliminating the option to present other comprehensive income in the statement of changes in equity. Under either choice, items that are reclassified from other comprehensive income to net income are required to be presented on the face of the financial statements where the components of net income and the components of other comprehensive income are presented. In December 2011, the FASB issued an update to ASU No. 2011-05, ASU No. 2011-12, which was issued to defer the effective date for amendments to the reclassifications of items out of accumulated other comprehensive income in ASU No. 2011-05. ASU 2011-05 and the amendments in ASU No. 2011-12 are effective for fiscal years and interim periods within those years, beginning after December 15, 2011 and became effective for the Company on September 30, 2012. The Company elected to report other comprehensive income and its components in a separate statement of comprehensive income. While the new guidance changed the presentation of comprehensive income, there were no changes to components that are recognized in net income or other comprehensive income as determined under previous accounting guidance. The amended guidance did not have a material effect on the Company’s consolidated financial statements. | |
In September 2011, the FASB issued ASU No. 2011-08, “Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment, which amended the guidance on the annual testing of goodwill for impairment. The amended guidance allows companies to assess qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment test required under current accounting standards. The guidance is effective for fiscal years beginning after December 15, 2011, and became effective for the Company on September 30, 2012. This new guidance did not have a material impact on the Company’s consolidated financial statements. | |
In July 2012, the FASB issued an ASU No. 2012-02, “Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment, which simplifies the manner in which companies test indefinite-lived intangible assets for impairment. The ASU permits companies to first assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that the indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform a quantitative impairment test. The ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The guidance became effective for the Company on September 30, 2012. This new guidance is not expected to have a material impact on the Company’s consolidated financial statements. | |
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02). This guidance requires entities to disclose, either in the notes to the consolidated financial statements or parenthetically on the face of the statement that reports comprehensive income (loss), items reclassified out of Accumulated other comprehensive income (loss) and into net earnings in their entirety and the effect of the reclassification on each affected Statement of Operations line item. In addition, for Accumulated other comprehensive income (loss) reclassification items that are not reclassified in their entirety into net earnings, a cross reference to other required accounting standard disclosures is required. This guidance is effective for the Company on September 29, 2013. This new guidance did not have a material impact on the Company’s consolidated financial statements. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
2. Fair Value Measurements | |||||||||||||||||
ASC 820 establishes a single authoritative definition of fair value, a framework for measuring fair value and expands disclosure of fair value measurements. ASC 820 requires financial assets and liabilities to be categorized based on the inputs used to calculate their fair values as follows: | |||||||||||||||||
Level 1 – Quoted prices in active markets for identical assets or liabilities. | |||||||||||||||||
Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. | |||||||||||||||||
Level 3 – Unobservable inputs for the asset or liability, which reflect the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability (including assumptions about risk). | |||||||||||||||||
The Company’s financial instruments include cash and equivalents, short term investments consisting of bank certificates of deposit, accounts receivable and payable, derivative instruments, short-term borrowings, and accrued liabilities. The carrying amount of these instruments approximates fair value because of their short-term nature. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of September 28, 2013 (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Certificates of deposit (a) | $ | 0 | $ | 17,820 | $ | 0 | $ | 17,820 | |||||||||
Total assets | $ | 0 | $ | 17,820 | $ | 0 | $ | 17,820 | |||||||||
Liabilities: | |||||||||||||||||
Derivative liabilities (b) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
Liability for contingent consideration (c) | 0 | 0 | 4,165 | 4,165 | |||||||||||||
Total liabilities | $ | 0 | $ | 0 | $ | 4,165 | $ | 4,165 | |||||||||
The following table presents our financial assets and liabilities at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of September 29, 2012 (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Certificates of deposit (a) | $ | 0 | $ | 17,820 | $ | 0 | $ | 17,820 | |||||||||
Derivative assets (b) | 0 | 334 | 0 | 334 | |||||||||||||
Total assets | $ | 0 | $ | 18,154 | $ | 0 | $ | 18,154 | |||||||||
Liabilities: | |||||||||||||||||
Derivative liabilities (b) | $ | 0 | $ | 206 | $ | 0 | $ | 206 | |||||||||
Total liabilities | $ | 0 | $ | 206 | $ | 0 | $ | 206 | |||||||||
(a) | The fair value of our time deposits is based on the most recent observable inputs for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable. These are presented as short term investments in our consolidated balance sheets. | ||||||||||||||||
(b) | Derivative assets and liabilities were valued using quoted forward pricing from bank counterparties and are presented as other current assets and liabilities in our consolidated balance sheets. | ||||||||||||||||
(c) | The liability for contingent consideration relates to an earn-out for B2E, acquired in December 2012. The fair value of the contingent consideration arrangement is determined based on the Company’s evaluation as to the probability and amount of any earn-out that will be achieved based on expected future performance by the acquired entity. This is presented as part of long-term liabilities in our consolidated balance sheets. | ||||||||||||||||
The following table provides a summary of changes in fair value of our Level 3 financial instruments for the years ended September 28, 2013 and September 29, 2012 (in thousands): | |||||||||||||||||
Amount | |||||||||||||||||
Balance as of September 29, 2012 | $ | 0 | |||||||||||||||
Contingent performance-based payments established at the time of acquisition | 4,165 | ||||||||||||||||
Balance as of September 28, 2013 | $ | 4,165 | |||||||||||||||
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis | |||||||||||||||||
The Company measures certain non-financial assets and liabilities, including long-lived assets, goodwill and intangible assets, at fair value on a non-recurring basis. Fair value measurements of non-financial assets and non-financial liabilities are used primarily in the impairment analyses of long-lived assets, goodwill and other intangible assets. During the period ended September 28, 2013, the Company recognized a non-cash charge of $7.7 million, as the carrying value of its Garden segment goodwill exceeded the implied fair value of the goodwill. See Note 9. -Goodwill. | |||||||||||||||||
Fair Value of Other Financial Instruments | |||||||||||||||||
The estimated fair value of the Company’s $450.0 million 8.25% senior subordinated notes due 2018 as of September 28, 2013 was $449.5 million, compared to a carrying value of $449.4 million. The estimated fair value is based on quoted market prices for these notes, which are Level 1 inputs within the fair value hierarchy. |
Derivative_Instruments
Derivative Instruments | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Derivative Instruments | ' | ||||||||||||||||
3. Derivative Instruments | |||||||||||||||||
Our operations are exposed to market risks from adverse changes in commodity prices affecting the cost of raw materials. In the normal course of business, these risks are managed through a variety of strategies, including the use of derivatives. The utilization of these financial transactions is governed by policies covering acceptable counterparty exposure, instrument types and other practices. The Company does not enter into derivative contracts for speculative purposes. The Company performs assessments of its counterparty credit risk regularly, including a review of credit ratings and potential nonperformance of the counterparty, and minimizes counterparty concentrations. | |||||||||||||||||
Commodity and commodity index futures, swaps and option contracts are used to economically hedge commodity input prices on grains and proteins. These derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures. Generally, the Company economically hedges a portion of its anticipated consumption of commodity inputs for periods of up to 12 months. As of September 28, 2013, the Company had no outstanding derivative instruments. As of September 29, 2012, the Company had economically hedged certain portions of its anticipated consumption of commodity inputs using derivative instruments with expiration dates through February 2013. | |||||||||||||||||
The Company recognizes all derivative instruments as either assets or liabilities at fair value in the condensed consolidated balance sheets, with the exception of normal purchases and normal sales expected to result in physical delivery. The Company’s derivative financial instruments have not been designated as hedging instruments for accounting purposes. The Company recognizes realized and unrealized gains and losses from derivatives used to economically hedge anticipated commodity consumption in other income (expense) on the condensed consolidated statement of operations. | |||||||||||||||||
The following table presents the fair value of all derivative instruments outstanding in the condensed consolidated balance sheets (in thousands): | |||||||||||||||||
September 28, 2013 | September 29, 2012 | ||||||||||||||||
Derivatives Not Designated as Hedging Instruments | Other Current | Other Current | Other Current | Other Current | |||||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Commodity contracts | $ | 0 | $ | 0 | $ | 334 | $ | 206 | |||||||||
Total derivative instruments | $ | 0 | $ | 0 | $ | 334 | $ | 206 | |||||||||
The following table presents the effect of derivative instruments recorded in other income (expense) on the condensed consolidated statements of operations (in thousands): | |||||||||||||||||
Fiscal Year Ended | |||||||||||||||||
Derivatives Not Designated as Hedging Instruments | September 28, | September 29, | September 24, | ||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Commodity contracts | $ | (958 | ) | $ | 111 | $ | (9 | ) | |||||||||
Total derivative instruments | $ | (958 | ) | $ | 111 | $ | (9 | ) | |||||||||
The following table presents the gross contract notional volume of outstanding derivative contracts: | |||||||||||||||||
Commodity | Metric | September 28, | September 29, | ||||||||||||||
2013 | 2012 | ||||||||||||||||
Corn | Bushels | 0 | 400,000 | ||||||||||||||
Soy Meal | Tons | 0 | 2,000 |
Acquisitions
Acquisitions | 12 Months Ended |
Sep. 28, 2013 | |
Business Combinations [Abstract] | ' |
Acquisitions | ' |
4. Acquisitions | |
Fiscal 2013 | |
In December 2012, the Company acquired the remaining majority interest in FourStar Microbial Products, LLC (Four Star Microbial) for approximately $4.8 million in cash and approximately $4.2 million of contingent future performance-based payments. The purchase price exceeded the estimated fair value of the tangible and intangible assets acquired by $3.2 million, which was recorded as goodwill within our Pet segment. The operating results of FourStar Microbial had no material impact on the consolidated financial statements. In the future, we expect the acquisition will enhance the Company’s capability to service professional providers of mosquito abatement. | |
Fiscal 2012 | |
The Company made no acquisitions during fiscal 2012. | |
Fiscal 2011 | |
On February 28, 2011, the Company acquired certain assets of a privately-held maker of premium fertilizer for the professional and retail markets for approximately $23 million in cash. The purchase price exceeded the estimated fair value of the tangible and intangible assets acquired by $1.0 million, which was recorded as goodwill within our Garden segment. | |
Contingent performance payments of $1.9 million were paid in fiscal 2011 for previous acquisitions and recorded as goodwill in fiscal 2011 within our Garden segment. |
Concentration_of_Credit_Risk_a
Concentration of Credit Risk and Significant Customers and Suppliers | 12 Months Ended |
Sep. 28, 2013 | |
Text Block [Abstract] | ' |
Concentration of Credit Risk and Significant Customers and Suppliers | ' |
5. Concentration of Credit Risk and Significant Customers and Suppliers | |
Customer Concentration – Approximately 43% of the Company’s net sales for fiscal 2013 and 45% for fiscal 2012 and fiscal 2011 were derived from sales to the Company’s top five customers. The Company’s largest customer accounted for approximately 16%, 17% and 16% of the Company’s net sales in fiscal years 2013, 2012, and 2011, respectively. The Company’s second largest customer in 2013 accounted for approximately 8% of the Company’s net sales in 2013 and 7% of the Company’s net sales in each of the fiscal years 2012 and 2011. The Company’s third largest customer accounted for approximately 8%, 9% and 12% of the Company’s net sales in fiscal years 2013, 2012, and 2011, respectively. The loss of, or significant adverse change in, the relationship between the Company and any of these three customers could have a material adverse effect on the Company’s business and financial results. The loss of or reduction in orders from any significant customer, losses arising from customer disputes regarding shipments, fees, merchandise condition or related matters, or the Company’s inability to collect accounts receivable from any major customer could also have a material adverse impact on the Company’s business and financial results. As of September 28, 2013 and September 29, 2012, accounts receivable from the Company’s top five customers comprised approximately 35% and 42% of the Company’s total accounts receivable, including 9% and 15% from the Company’s largest customer. | |
Supplier Concentration – While the Company purchases products from many different manufacturers and suppliers, approximately 11%, 9% and 12% of the Company’s cost of goods sold in fiscal years 2013, 2012, and 2011, respectively, were derived from products purchased from the Company’s five largest suppliers. |
Allowance_for_Doubtful_Account
Allowance for Doubtful Accounts | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Allowance for Doubtful Accounts | ' | ||||||||||||||||
6. Allowance for Doubtful Accounts | |||||||||||||||||
Changes in the allowance for doubtful accounts are summarized below (in thousands): | |||||||||||||||||
Description | Balances at | Charged/ | Asset | Balances | |||||||||||||
Beginning | (Credited) to | Write-Offs, | at End of | ||||||||||||||
of Period | Costs and | Less | Period | ||||||||||||||
Expenses | Recoveries | ||||||||||||||||
Fiscal year ended September 24, 2011 | $ | 21,564 | $ | (3,662 | ) | $ | (2,312 | ) | $ | 15,590 | |||||||
Fiscal year ended September 29, 2012 | 15,590 | 5,291 | (2,307 | ) | 18,574 | ||||||||||||
Fiscal year ended September 28, 2013 | 18,574 | 4,373 | (1,789 | ) | 21,158 |
Inventories_Net
Inventories, Net | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories, Net | ' | ||||||||
7. Inventories, net | |||||||||
Inventories, net of allowance for obsolescence, consist of the following (in thousands): | |||||||||
September 28, | September 29, | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 121,695 | $ | 94,387 | |||||
Work in progress | 19,856 | 13,587 | |||||||
Finished goods | 236,322 | 209,888 | |||||||
Supplies | 14,060 | 12,170 | |||||||
Total inventories, net | $ | 391,934 | $ | 330,032 | |||||
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, Net | ' | ||||||||
8. Property and Equipment, Net | |||||||||
Property and equipment consists of the following (in thousands): | |||||||||
As of | |||||||||
September 28, | September 29, | ||||||||
2013 | 2012 | ||||||||
Land | $ | 9,504 | $ | 9,504 | |||||
Buildings and improvements | 112,882 | 108,122 | |||||||
Transportation equipment | 5,646 | 6,125 | |||||||
Machine and warehouse equipment | 179,723 | 174,411 | |||||||
Capitalized software | 104,034 | 99,090 | |||||||
Office furniture and equipment | 25,248 | 26,076 | |||||||
437,037 | 423,328 | ||||||||
Accumulated depreciation and amortization | (248,124 | ) | (232,165 | ) | |||||
$ | 188,913 | $ | 191,163 | ||||||
Depreciation and amortization expense charged to operations was $33.0 million, $30.4 million and $28.6 million for fiscal 2013, 2012, and 2011, respectively. |
Goodwill
Goodwill | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Goodwill | ' | ||||||||||||
9. Goodwill | |||||||||||||
Changes in the carrying amount of goodwill for the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 (in thousands): | |||||||||||||
Garden Products | Pet Products | Total | |||||||||||
Segment | Segment | ||||||||||||
Balance as of September 25, 2010 | |||||||||||||
Goodwill | $ | 211,554 | $ | 397,617 | $ | 609,171 | |||||||
Accumulated impairment losses | (205,874 | ) | (195,978 | ) | (401,852 | ) | |||||||
5,680 | 201,639 | 207,319 | |||||||||||
Additions in fiscal 2011 | 2,029 | 875 | 2,904 | ||||||||||
Balance as of September 24, 2011 | |||||||||||||
Goodwill | 213,583 | 398,492 | 612,075 | ||||||||||
Accumulated impairment losses | (205,874 | ) | (195,978 | ) | (401,852 | ) | |||||||
7,709 | 202,514 | 210,223 | |||||||||||
Balance as of September 29, 2012 | |||||||||||||
Goodwill | 213,583 | 398,492 | 612,075 | ||||||||||
Accumulated impairment losses | (205,874 | ) | (195,978 | ) | (401,852 | ) | |||||||
7,709 | 202,514 | 210,223 | |||||||||||
Additions in fiscal 2013 | 0 | 3,242 | 3,242 | ||||||||||
Impairment losses in fiscal 2013 | (7,709 | ) | 0 | (7,709 | ) | ||||||||
Balance as of September 28, 2013 | |||||||||||||
Goodwill | 213,583 | 401,734 | 615,317 | ||||||||||
Accumulated impairment losses | (213,583 | ) | (195,978 | ) | (409,561 | ) | |||||||
$ | 0 | $ | 205,756 | $ | 205,756 | ||||||||
Additions or reductions to goodwill include acquisitions, purchase price adjustments and adjustments of amounts upon finalization of purchase accounting. | |||||||||||||
The Company tests goodwill for impairment annually (on the first day of the fourth fiscal quarter), or whenever events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount, by initially comparing the fair value of each of the Company’s four reporting units to their related carrying values. If the fair value of the reporting unit is less than its carrying value, the Company performs an additional step to determine the implied fair value of goodwill associated with that reporting unit. The implied fair value of goodwill is determined by first allocating the fair value of the reporting unit to all of its assets and liabilities and then computing the excess of the reporting unit’s fair value over the amounts assigned to the assets and liabilities. If the carrying value of goodwill exceeds the implied fair value of goodwill, such excess represents the amount of goodwill impairment, and, accordingly, the Company recognizes such impairment. The Company’s goodwill impairment analysis also includes a comparison of the aggregate estimated fair value of all four reporting units to the Company’s total market capitalization. | |||||||||||||
Determining the fair value of a reporting unit involves the use of significant estimates and assumptions. The estimate of fair value of each of the Company’s reporting units is based on the Company’s projection of revenues, gross margin, operating costs and cash flows considering historical and estimated future results, general economic and market conditions as well as the impact of planned business and operational strategies. The Company bases its fair value estimates on assumptions the Company believes to be reasonable at the time, but such assumptions are subject to inherent uncertainty. Assumptions critical to the Company’s fair value estimates were: (i) discount rates used in determining the fair value of the reporting units; (ii) estimated future cash flows; and (iii) projected revenue and operating profit growth rates used in the reporting unit models. Actual results may differ from those estimates. The valuations employ present value techniques to measure fair value and consider market factors. | |||||||||||||
In connection with the Company’s annual goodwill impairment testing performed during fiscal 2013, the first step of such testing indicated that the fair value of the Company’s Pet segment reporting units exceeded their carrying value, and accordingly, no further testing of goodwill was required for the Pet segment. However, the carrying value of the Company’s Garden segment reporting units exceeded their fair value, indicating potential impairment. Based on further analysis, it was determined that the entire carrying value of the Company’s Garden segment goodwill was impaired, resulting in a non-cash goodwill impairment charge of $7.7 million. | |||||||||||||
In connection with the Company’s annual goodwill impairment testing performed during fiscal 2012 and 2011, the first step of such testing indicated that the fair value of the Company’s reporting segments exceeded their carrying value by more than 10%, and accordingly, no further testing of goodwill was required. | |||||||||||||
Changes in the judgments and estimates underlying the Company’s analysis of goodwill for possible impairment, including expected future cash flows and discount rate, could result in a significantly different estimate of the fair value of the reporting units in the future and could result in additional impairment of goodwill. |
Other_Intangible_Assets
Other Intangible Assets | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Other Intangible Assets | ' | ||||||||||||||||
10. Other Intangible Assets | |||||||||||||||||
The following table summarizes the components of gross and net acquired intangible assets: | |||||||||||||||||
Gross | Accumulated | Impairment | Net | ||||||||||||||
Amortization | Carrying | ||||||||||||||||
Value | |||||||||||||||||
(in millions) | |||||||||||||||||
September 28, 2013 | |||||||||||||||||
Marketing-related intangible assets – amortizable | $ | 12.5 | $ | (8.9 | ) | $ | 0 | $ | 3.6 | ||||||||
Marketing-related intangible assets – nonamortizable | 59.6 | 0 | (16.9 | ) | 42.7 | ||||||||||||
Total | 72.1 | (8.9 | ) | (16.9 | ) | 46.3 | |||||||||||
Customer-related intangible assets – amortizable | 42.8 | (17.9 | ) | 0 | 24.9 | ||||||||||||
Other acquired intangible assets – amortizable | 16.6 | (7.9 | ) | 0 | 8.7 | ||||||||||||
Other acquired intangible assets – nonamortizable | 1.2 | 0 | (1.2 | ) | 0 | ||||||||||||
Total | 17.8 | (7.9 | ) | (1.2 | ) | 8.7 | |||||||||||
Total other intangible assets | $ | 132.7 | $ | (34.7 | ) | $ | (18.1 | ) | $ | 79.9 | |||||||
September 29, 2012 | |||||||||||||||||
Marketing-related intangible assets – amortizable | $ | 12.3 | $ | (7.5 | ) | $ | 0 | $ | 4.8 | ||||||||
Marketing-related intangible assets – nonamortizable | 59.6 | 0 | (16.9 | ) | 42.7 | ||||||||||||
Total | 71.9 | (7.5 | ) | (16.9 | ) | 47.5 | |||||||||||
Customer-related intangible assets – amortizable | 42.7 | (15.4 | ) | 0 | 27.3 | ||||||||||||
Other acquired intangible assets – amortizable | 10.8 | (6.7 | ) | 0 | 4.1 | ||||||||||||
Other acquired intangible assets – nonamortizable | 1.2 | 0 | (1.2 | ) | 0 | ||||||||||||
Total | 12 | (6.7 | ) | (1.2 | ) | 4.1 | |||||||||||
Total other intangible assets | $ | 126.6 | $ | (29.6 | ) | $ | (18.1 | ) | $ | 78.9 | |||||||
Other intangible assets acquired include contract-based and technology-based intangible assets. | |||||||||||||||||
As part of its acquisition of the remaining majority interest in FourStar Microbial during the first quarter of fiscal 2013, the Company acquired approximately $0.1 million of marketing related intangible assets and $7.0 million of other intangible assets. See Note 4 – Acquisitions. | |||||||||||||||||
The Company evaluates long-lived assets, including amortizable and indefinite-lived intangible assets, for impairment whenever events or changes in circumstances indicate the carrying value may not be recoverable. The Company evaluates indefinite-lived intangible assets on an annual basis. In fiscal 2013, the Company tested its indefinite-lived intangible assets and no impairment was indicated. Other factors indicating the carrying value of the Company’s amortizable intangible assets may not be recoverable were not present in fiscal 2013, and accordingly, no impairment testing was performed on these assets. | |||||||||||||||||
The Company is currently amortizing its acquired intangible assets with definite lives over periods ranging from 1 to 25 years; over weighted average remaining lives of six years for marketing-related intangibles, 15 years for customer-related intangibles and 15 years for other acquired intangibles. Amortization expense for intangibles subject to amortization was approximately $5.1 million, $5.6 million and $5.0 million, for fiscal 2013, 2012, and 2011, respectively, and is classified within operating expenses in the condensed consolidated statements of operations. Estimated annual amortization expense related to acquired intangible assets in each of the succeeding five years is estimated to be approximately $5 million per year from fiscal 2014 through fiscal 2018. |
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Debt | ' | ||||||||
11. Long-Term Debt | |||||||||
Long-term debt consists of the following: | |||||||||
September 28 | September 29, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Senior subordinated notes, net of unamortized discount (1), interest at 8.25%, payable semi-annually, principal due March 2018 | $ | 449,417 | $ | 449,312 | |||||
Revolving credit facility, interest at Alternate Base Rate plus a margin of 0.75% to 1.75%, or LIBOR plus a margin of 1.75% to 2.75%, final maturity June 2016 | 23,000 | 0 | |||||||
Other notes payable | 170 | 502 | |||||||
Total | 472,587 | 449,814 | |||||||
Less current portion | (142 | ) | (331 | ) | |||||
Long-term portion | $ | 472,445 | $ | 449,483 | |||||
-1 | Represents unamortized original issue discount of $583 and $688, as of September 28, 2013 and September 29, 2012, respectively, which is amortizable until March 2018. | ||||||||
Senior Credit Facility | |||||||||
On June 8, 2011, the Company amended its $275 million, five-year senior secured revolving credit facility (the “Old Credit Facility”) included in its Amended and Restated Credit Agreement (the “Old Credit Agreement”). Under the modified terms, the Old Credit Facility has a borrowing capacity of $375 million and a maturity date of June 2016. On August 1, 2013, the Company further amended the Old Credit Facility. Under the terms of this amendment, the Company’s minimum interest coverage ratio, as defined in the Old Credit Agreement, was further reduced to 2.25 times, from 2.5 times, and a minimum asset coverage ratio was added at 1.1 times. There was $23 million outstanding as of September 28, 2013 under the Old Credit Facility. There were no letters of credit outstanding under the Old Credit Facility as of September 28, 2013. There were other letters of credit of $17.5 million outstanding as of September 28, 2013. As of September 28, 2013, there were $351.1 million of unused commitments under the Old Credit Facility or, after giving effect to the financial covenants in the Old Credit Agreement, $168.3 million of available unused commitments. | |||||||||
Interest on the Old Credit Facility was based, at the Company’s option, on a rate equal to the Alternate Base Rate (ABR), which is the greatest of the prime rate, the Federal Funds rate plus 0.5% or one month LIBOR plus 1%, plus a margin, which fluctuates from 0.75% to 1.75%, or LIBOR plus a margin, which fluctuates from 1.75% to 2.75% and commitment fees that range from 0.30% to 0.50%, determined quarterly based on consolidated total debt to consolidated EBITDA for the most recent trailing 12-month period. As of September 28, 2013, the applicable interest rate on the Old Credit Facility related to alternate base rate borrowings was 5.0%, and the applicable interest rate related to LIBOR rate borrowings was 2.9%. | |||||||||
The Credit Facility was guaranteed by the Company’s material subsidiaries and was secured by the Company’s assets, excluding real property but including substantially all of the capital stock of the Company’s subsidiaries. The Old Credit Agreement contained certain financial and other covenants which required the Company to maintain minimum levels of interest coverage and maximum levels of senior debt to EBITDA and that restricted the Company’s ability to repurchase its stock, make investments in or acquisitions of other businesses and pay dividends above certain levels over the life of the Old Credit Facility. Under the terms of the Company’s Old Credit Facility, it could make restricted payments, including cash dividends and stock repurchases, in an aggregate amount initially not to exceed $200 million over the life of the Old Credit Facility, subject to qualifications and baskets as defined in the Old Credit Agreement. | |||||||||
As of September 28, 2013, the Company’s Total Leverage Ratio, as defined in the Old Credit Agreement, was 4.9 to 1.0, and the Company’s Senior Secured Leverage Ratio, as defined in the Old Credit Agreement with a maximum of 2.0 to 1.0, was 0.3 to 1.0. As of September 28, 2013, the Company’s interest coverage ratio was 2.35 times, with a minimum of 2.25 times. The Company’s minimum asset coverage ratio was 14.7 times as of September 28, 2013. Apart from the covenants limiting restricted payments and capital expenditures, the Old Credit Facility does not restrict the use of retained earnings or net income. The Company was in compliance with all financial covenants as of September 28, 2013. | |||||||||
Asset Backed Loan Facility | |||||||||
On December 5, 2013, the Company entered into a new credit agreement which provides for a $390 million principal amount senior secured asset-based revolving credit facility, with up to an additional $200 million principal amount available with the consent of the Lenders if the Company exercises the accordion feature set forth therein (collectively, the “Credit Facility”). The Credit Facility matures on December 5, 2018 and replaced the Company’s Old Credit Facility. The Company may borrow, repay and reborrow amounts under the Credit Facility until its maturity date, at which time all amounts outstanding under the Credit Facility must be repaid in full. See Note 21.—Subsequent Events. | |||||||||
Senior Subordinated Notes | |||||||||
On March 8, 2010, the Company issued $400 million aggregate principal amount of 8.25% senior subordinated notes due March 1, 2018 (the “2018 Notes”). | |||||||||
On February 13, 2012, the Company issued an additional $50 million aggregate principal amount of its 2018 Notes at a price of 98.501%, plus accrued interest from September 1, 2011, in a private placement. The Company used the net proceeds from the offering to pay a portion of the outstanding balance under its Old Credit Facility. | |||||||||
The estimated fair value of the Company’s $450 million of 2018 Notes as of September 28, 2013 was approximately $449.5 million, compared to a carrying value of $449.4 million. The estimated fair value is based on quoted market prices for these notes. | |||||||||
The 2018 Notes require semiannual interest payments, which commenced on September 1, 2010. The 2018 Notes are unsecured senior subordinated obligations and are subordinated to all of the Company’s existing and future senior debt, including the Company’s Old Credit Facility and Credit Facility. The obligations under the 2018 Notes are fully and unconditionally guaranteed on a senior subordinated basis by each of the Company’s existing and future domestic restricted subsidiaries with certain exceptions. The guarantees are general unsecured senior subordinated obligations of the guarantors and are subordinated to all existing and future senior debt of the guarantors. | |||||||||
The Company may redeem some or all of the 2018 Notes at any time prior to March 1, 2014 at the principal amount plus a “make whole” premium. The Company may redeem some or all of the 2018 Notes at any time on or after March 1, 2014 for 104.125%, after March 1, 2015 for 102.063% and after March 1, 2016 for 100%, plus accrued and unpaid interest. The holders of the 2018 Notes have the right to require the Company to repurchase all or a portion of the 2018 Notes at a purchase price equal to 101% of the principal amount of the notes repurchased, plus accrued and unpaid interest upon the occurrence of a change of control. | |||||||||
The 2018 Notes contain customary high yield covenants, including covenants limiting debt incurrence and restricted payments, subject to certain baskets and exceptions. The Company was in compliance with all financial covenants as of September 28, 2013. | |||||||||
The scheduled principal repayments on long-term debt as of September 28, 2013 are as follows: | |||||||||
(in thousands) | |||||||||
Fiscal year: | |||||||||
2014 | $ | 142 | |||||||
2015 | 26 | ||||||||
2016 | 23,002 | ||||||||
2017 | 0 | ||||||||
2018 | 450,000 | ||||||||
Thereafter | 0 | ||||||||
Total | $ | 473,170 | (1) | ||||||
-1 | Debt repayments include an amount in excess of the carrying value of debt and reflect the unamortized portion of the original issue discount on the Senior Subordinated Notes of $0.6 million as of September 28, 2013, which is amortizable until March 2018. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Sep. 28, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Contingencies | ' | ||||
12. Commitments and Contingencies | |||||
Commitments | |||||
Letters of credit – The Company had $17.5 million of outstanding letters of credit related to normal business transactions at September 28, 2013. | |||||
Purchase commitments – Production and purchase agreements (primarily for grass seed and grains) entered into in the ordinary course of business obligate the Company to make future purchases based on estimated yields. The terms of these contracts vary and have fixed prices or quantities. At September 28, 2013, estimated annual purchase commitments were $106.8 million for fiscal 2014, $48.8 million for fiscal 2015, $28.8 million for fiscal 2016, $16.1 million for fiscal 2017, $11.6 million for fiscal 2018 and $6.6 million thereafter. | |||||
Leases – The Company has operating lease agreements principally for office and warehouse facilities and equipment. Such leases have remaining terms of 1 to 9 years. Rental expense was $22.4 million for fiscal 2013, $23.6 million for fiscal 2012, and $24.4 million for fiscal 2011. | |||||
Certain facility leases have renewal options and include escalation clauses. Minimum lease payments include scheduled rent increases pursuant to these escalation provisions. | |||||
Aggregate minimum annual payments on non-cancelable operating leases at September 28, 2013 are as follows: | |||||
(in thousands) | |||||
Fiscal year: | |||||
2014 | $ | 15,899 | |||
2015 | 12,011 | ||||
2016 | 8,649 | ||||
2017 | 6,041 | ||||
2018 | 2,099 | ||||
Thereafter | 1,723 | ||||
Total | $ | 46,422 | |||
Contingencies | |||||
The Company may from time to time become involved in certain legal proceedings in the ordinary course of business. Currently, the Company is not a party to any legal proceedings that management believes the resolution of which would have a material effect on the Company’s financial position or results of operations. | |||||
The Company has experienced, and may in the future experience, issues with products that may lead to product liability, recalls, withdrawals, replacements of products, or regulatory actions by governmental authorities. Currently, the Company has not experienced any product liability, recalls, withdrawals or replacements of products that management believes the resolution of which would have a material effect on the Company’s financial position or results of operations. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||
Income Taxes | ' | ||||||||||||||||
13. Income Taxes | |||||||||||||||||
The provision for income tax expense (benefit) consists of the following: | |||||||||||||||||
Fiscal Year Ended | |||||||||||||||||
September 28, | September 29, | September 24, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(in thousands) | |||||||||||||||||
Current: | |||||||||||||||||
Federal. | $ | 52 | $ | (1,003 | ) | $ | (5,512 | ) | |||||||||
State. | 958 | 603 | 160 | ||||||||||||||
Foreign. | 0 | 35 | 35 | ||||||||||||||
Total | 1,010 | (365 | ) | (5,317 | ) | ||||||||||||
Deferred: | |||||||||||||||||
Federal. | (2,915 | ) | 12,671 | 22,667 | |||||||||||||
State. | (687 | ) | 198 | 1,214 | |||||||||||||
Foreign. | 0 | 312 | 1,031 | ||||||||||||||
Total | (3,602 | ) | 13,181 | 24,912 | |||||||||||||
Total | $ | (2,592 | ) | $ | 12,816 | $ | 19,595 | ||||||||||
A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows: | |||||||||||||||||
Fiscal Year Ended | |||||||||||||||||
September 28, | September 29, | September 24, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Statutory federal income tax rate | (35.0 | )% | 35 | % | 35 | % | |||||||||||
State income taxes, net of federal benefit | (5.2 | ) | 2.3 | 2.8 | |||||||||||||
Other permanent differences | 2.4 | 0.6 | 1.4 | ||||||||||||||
Adjustment of prior year accruals | 1.8 | 0.2 | 1.2 | ||||||||||||||
Uncertain tax positions | 3.7 | 0 | (0.3 | ) | |||||||||||||
Credits | (29.3 | ) | (1.2 | ) | (2.9 | ) | |||||||||||
Change in valuation allowances | (9.0 | ) | (0.1 | ) | 3.2 | ||||||||||||
Foreign rate differential | (3.6 | ) | (0.1 | ) | 0.4 | ||||||||||||
Effective income tax rate (benefit) | (74.2 | %) | 36.7 | % | 40.8 | % | |||||||||||
Deferred income taxes reflect the impact of “temporary differences” between asset and liability amounts for financial reporting purposes and such amounts as determined based on existing tax laws. The tax effect of temporary differences and carryforwards which give rise to deferred tax assets and liabilities are as follows: | |||||||||||||||||
September 28, 2013 | September 29, 2012 | ||||||||||||||||
Deferred | Deferred | Deferred | Deferred | ||||||||||||||
Tax | Tax | Tax | Tax | ||||||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||||||||
(in thousands) | |||||||||||||||||
Current: | |||||||||||||||||
Allowance for doubtful accounts . | $ | 7,758 | $ | 0 | $ | 6,741 | $ | 0 | |||||||||
Inventory write-downs | 14,983 | 0 | 10,411 | 0 | |||||||||||||
Prepaid expenses. | 620 | 0 | 112 | 0 | |||||||||||||
Nondeductible reserves | 2,782 | 0 | 997 | 0 | |||||||||||||
State taxes. | 0 | 188 | 0 | 245 | |||||||||||||
Employee benefits | 6,062 | 0 | 5,885 | 0 | |||||||||||||
Other. | 3,012 | 0 | 3,509 | 0 | |||||||||||||
Total | 35,218 | 188 | 27,655 | 245 | |||||||||||||
Noncurrent: | |||||||||||||||||
Depreciation and amortization. | 0 | 39,100 | 0 | 30,358 | |||||||||||||
Equity income. | 0 | 393 | 0 | 280 | |||||||||||||
State net operating loss carryforward | 4,816 | 0 | 4,160 | 0 | |||||||||||||
Stock based compensation | 6,061 | 0 | 5,225 | 0 | |||||||||||||
State credits | 2,421 | 0 | 2,241 | 0 | |||||||||||||
Other. | 5,349 | 0 | 2,866 | 0 | |||||||||||||
Valuation allowance | (6,968 | ) | 0 | (7,282 | ) | 0 | |||||||||||
Total. | 11,679 | 39,493 | 7,210 | 30,638 | |||||||||||||
Total. | $ | 46,897 | $ | 39,681 | $ | 34,865 | $ | 30,883 | |||||||||
The Company has state tax net operating losses of $94.9 million which expire at various times between 2013 and 2033, and foreign losses of $2.4 million, which do not expire. The Company has federal income tax credits of $1.4 million which expire between 2023 and 2033. The Company also has state income tax credits of $3.7 million, which expire at various times beginning in 2013 through 2029. In evaluating the Company’s ability to recover its deferred tax assets, the Company considers all available positive and negative evidence including past operating results, future taxable income, and ongoing prudent and feasible tax planning strategies in assessing the need for a valuation allowance against any deferred tax assets. The Company has determined there will be insufficient future separate state and international taxable income for the separate parent company and the Company’s foreign operations to realize its deferred tax assets. Therefore, valuation allowances of $7.0 million and $7.3 million (net of federal impact) at September 28, 2013 and September 29, 2012, respectively, have been provided to reduce state and foreign deferred tax assets to amounts considered recoverable. | |||||||||||||||||
The Company classifies uncertain tax positions as non-current income tax liabilities unless expected to be paid within one year. The Company recognizes interest and/or penalties related to income tax matters as a component of pretax income. As of September 28, 2013 and September 29, 2012 accrued interest was less than $0.1 million and no penalties were accrued related to uncertain tax positions. | |||||||||||||||||
The following table, which excludes interest and penalties, summarizes the activity related to the Company’s unrecognized tax benefits for fiscal years ended September 29, 2012 and September 28, 2013 (in thousands): | |||||||||||||||||
Balance as of September 24, 2011 | $ | 282 | |||||||||||||||
Increases related to prior year tax positions | 1 | ||||||||||||||||
Increases related to current year tax positions | 16 | ||||||||||||||||
Settlements | (37 | ) | |||||||||||||||
Balance as of September 29, 2012 | $ | 262 | |||||||||||||||
Increases related to prior year tax positions | 247 | ||||||||||||||||
Increases related to current year tax positions | 60 | ||||||||||||||||
Settlements | (202 | ) | |||||||||||||||
Decreases related to lapse of statute of limitations | (3 | ) | |||||||||||||||
Balance as of September 28, 2013 | $ | 364 | |||||||||||||||
As of September 28, 2013, unrecognized income tax benefits totaled approximately $0.4 million and all of the unrecognized tax benefits would, if recognized, impact the Company’s effective income tax rate. | |||||||||||||||||
The Company is principally subject to taxation by the United States and various states within the United States. The Company’s tax filings in major jurisdictions are open to examination by tax authorities by the Internal Revenue Service from fiscal year ended 2010 forward and in various state taxing authorities generally from fiscal year ended 2009 forward. | |||||||||||||||||
The Company does not believe there will be any significant change in its unrecognized tax benefits within the next twelve months. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
14. Stock-Based Compensation | |||||||||||||||||
In February 2003, the Company adopted the 2003 Omnibus Equity Incentive Plan (the “2003 Plan”) which provides for the grant of options and restricted stock to key employees, directors and consultants of the Company up to an aggregate of 2.5 million shares of common stock of the Company. The 2003 Plan is administered by the Compensation Committee of the Board of Directors, which is comprised only of independent directors, and which must approve individual awards to be granted, vesting and exercise of share conditions. In February 2005, the Company’s shareholders approved an amendment to the 2003 Plan to increase the number of shares authorized for issuance there under by 3.3 million shares, resulting in a total of 5.8 million shares authorized for issuance under the 2003 Plan. | |||||||||||||||||
In connection with a dividend payable in the form of two shares of the Class A Common Stock for each outstanding share of Common Stock and Class B Common Stock on February 5, 2007, the 2003 Plan was amended to include 9,734,982 shares of Class A Common Stock authorized for issuance. In February 2009, the Company’s shareholders approved an increase in the number of shares authorized for issuance under the 2003 Plan by an additional 5,000,000 shares of Class A Common Stock and to authorize for issuance 500,000 shares of Preferred Stock. In February 2012, the Company’s shareholders approved an increase in the number of shares authorized for issuance under the 2003 Plan by an additional 5,000,000 shares of Class A Common Stock. As a result of these amendments, there is a total of 5,800,000 shares of Common Stock, 19,734,982 shares of Class A Common Stock and 500,000 shares of Preferred Stock authorized under the 2003 Plan. If and when the Company issues any shares of Preferred Stock under the 2003 Plan, it will reduce the amount of Class A Common Stock available for future issuance in an amount equal to the number of shares of Class A Common Stock that are issuable upon conversion of such Preferred Stock. | |||||||||||||||||
The Company has a Nonemployee Director Stock Option Plan (the “Director Plan”) which provides for the grant of options and restricted stock to nonemployee directors of the Company. The Director Plan, as amended in 2001 and 2006, provides for the granting to each independent director of options to purchase a number of shares equal to $200,000 divided by the fair market value of the Company’s common stock on the date of each annual meeting of stockholders and a number of shares of restricted stock equal to $20,000 divided by such fair market value. | |||||||||||||||||
As of September 28, 2013, there were approximately 3.1 million shares of Common Stock, 10.4 million shares of Class A Common Stock and no shares of Preferred Stock reserved for outstanding equity awards, and there were 1.9 million shares of Common Stock, 7.5 million shares of Class A Common Stock and 0.5 million shares of Preferred Stock remaining for future awards. | |||||||||||||||||
Stock Option Awards | |||||||||||||||||
The Company recognized share-based compensation expense of $15.9 million, $7.5 million, and $7.4 million for the years ended September 28, 2013, September 29, 2012, and September 24, 2011, respectively, as a component of selling, general and administrative expenses. Share-based compensation expense in fiscal 2013, 2012, consisted of $2.7 million, $3.8 million, and $3.1 million for stock options, and $11.2 million, $1.7 million, and $2.4 million for restricted stock awards. Share-based compensation expense in fiscal 2013, 2012, and 2011 also includes $2.0 million, $2.0 million, and $1.9 million for the Company’s 401(k) matching contributions. | |||||||||||||||||
Prior to fiscal 2008, stock options granted were generally exercisable with a 30 month cliff vesting and 42 month expiration, but were also granted with vesting increments of 20%, 25% or 33% per year beginning two, three or four years from the date of grant and expiring one year after the last increment has vested. | |||||||||||||||||
From fiscal 2008 to fiscal 2011, the Company granted stock options under its 2003 Plan that included performance targets and time-based vesting to key employees and executives. The performance-based options contingently vested up to 20% each year over the following 5 years dependent upon service and the achievement of annual or cumulative target performance measures and have contractual lives of 6 years. The target performance measures included various business unit, segment and company-wide performance goals, including adjusted earnings before taxes and net controllable assets. If any of the options subject to the performance target measurements did not vest on any particular vesting date because the Company, segment and/or business unit performance had not been achieved, such options will vest and become exercisable if at the end of the following fiscal year, the cumulative target for that later fiscal year has been achieved. The options were granted at the then-current market price, except for 4.4 million shares that were granted at prices significantly above the grant date market price. Of the options granted in fiscal 2008, approximately 216,000 options scheduled to possibly vest in each of fiscal years 2009 and 2010 were amended and were only subject to service vesting conditions. The fair value of each performance-based option granted was estimated on the date of grant using the same option valuation model used for options granted as service vesting only. In fiscal 2011, 100% of the performance options granted in fiscal 2010 that were eligible to vest in fiscal 2011 had vested. In fiscal 2011, approximately 97%, on a cumulative basis, of the performance options granted in fiscal 2009 that were eligible to vest in fiscal 2011 had vested. In fiscal 2011, approximately 99%, on a cumulative basis, of the performance options granted in fiscal 2008 that were eligible to vest in fiscal 2009 through fiscal 2011 had vested. | |||||||||||||||||
In March 2012, the Company eliminated all of the past and future performance goals relating to stock options granted from fiscal 2008 to fiscal 2011, except for the performance goals relating to the overall Company performance. The Company took this action because, as a result of the Company’s reorganization around functional lines during 2011, the extent to which cumulative performance targets for segments or business units have been or may be achieved has become difficult or impossible to measure and the changes underway within the Company were not contemplated when the Company granted the options. After the amendment, 20% of the shares covered by each award continue to be performance-based. The time vested component of the options did not change. Approximately 250 employees were affected by the modification, and no additional compensation cost was recorded. | |||||||||||||||||
The performance-based component of the options granted in fiscal 2008 was achieved and the related expense was recorded over the estimated service period. The Company currently estimates the performance-based component of the options granted in fiscal 2009, 2010 and 2011 is not probable of achievement and are not recording related expense. As of September 28, 2013, there were 6.2 million of unvested options, of which approximately 0.9 million are subject to performance based vesting criteria. To the extent Company goals are or are not achieved, the amount of stock-based compensation recognized in the future will be adjusted. | |||||||||||||||||
During fiscal 2013, the Company granted time-based stock options with an exercise price based on the closing fair market value date of the grant. The options granted in fiscal 2013 vest in four annual installments commencing approximately one year from the date of grant and expire approximately six years after the grant date. | |||||||||||||||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. Expected stock price volatilities are estimated based on the Company’s historical volatility. The expected term of options granted is based on analyses of historical employee termination rates, option exercises and the contractual term of the option. The risk-free rates are based on U.S. Treasury yields, for notes with comparable terms as the option grants, in effect at the time of the grant. For purposes of this valuation model, no dividends have been assumed. | |||||||||||||||||
The Company’s calculations were made using the Black-Scholes option pricing model with the following weighted average assumptions: expected life from the date of grant, 3.5 years in fiscal 2013, 3.5 years in fiscal 2012, and 3.5 years in fiscal 2011; stock price volatility, 34.8% in fiscal 2013, 37.9% in fiscal 2012, and 36.4% in fiscal 2011; risk free interest rates, 1.2% in fiscal 2013, 0.9% in fiscal 2012 and 2.2% in fiscal 2011; and no dividends during the expected term. | |||||||||||||||||
The following table summarizes option activity for the period ended September 28, 2013: | |||||||||||||||||
Number of | Weighted | Weighted Average | Aggregate | ||||||||||||||
Shares | Average Exercise | Remaining | Intrinsic Value | ||||||||||||||
(in thousands) | Price per Share | Contractual Life | (in thousands) | ||||||||||||||
Outstanding at September 29, 2012 | 11,638 | $ | 10.73 | 3 years | $ | 22,172 | |||||||||||
Granted | 2,000 | $ | 8.4 | ||||||||||||||
Exercised | (285 | ) | $ | 5.35 | |||||||||||||
Cancelled or expired | (782 | ) | $ | 9.24 | |||||||||||||
Outstanding at September 28, 2013 | 12,571 | $ | 10.57 | 3 years | $ | 1,166 | |||||||||||
Exercisable at September 24, 2011 | 4,162 | $ | 11.32 | 3 years | $ | 1,139 | |||||||||||
Exercisable at September 29, 2012 | 4,601 | $ | 11.34 | 2 years | $ | 6,708 | |||||||||||
Exercisable at September 28, 2013 | 6,409 | $ | 11.21 | 2 years | 770 | ||||||||||||
Expected to vest after September 28, 2013 | 5,388 | $ | 9.9 | 4 years | $ | 347 | |||||||||||
The weighted average grant date fair value of options granted during the fiscal years ended September 28, 2013, September 29, 2012, and September 24, 2011 was $1.72, $2.72, and $2.04. The total intrinsic value of options exercised during the fiscal years ended September 28, 2013, September 29, 2012, and September 24, 2011 was $1.1 million, $5.1 million and $2.6 million, respectively. | |||||||||||||||||
As of September 28, 2013, there was $8.0 million of total unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a remaining weighted average vesting period of 2 years. | |||||||||||||||||
Restricted Stock Awards | |||||||||||||||||
As of September 28, 2013 and September 29, 2012, there were approximately 894,000 and 785,000 shares, respectively, of restricted stock awards outstanding. The awards granted in fiscal 2013 generally vest in 1/3 increments, after a three year waiting period, over a five year period of employment after the grant date. In fiscal 2013, approximately $4.4 million of bonus amounts earned in fiscal 2012 were paid by granting approximately 290,000 restricted shares that vested immediately. | |||||||||||||||||
Restricted stock award activity during the three fiscal years in the period ended September 28, 2013 is summarized as follows: | |||||||||||||||||
Number of | Weighted Average | ||||||||||||||||
Shares | Grant Date | ||||||||||||||||
Fair Value per | |||||||||||||||||
Share | |||||||||||||||||
(in thousands) | |||||||||||||||||
Nonvested at September 25, 2010 | 432 | $ | 10.6 | ||||||||||||||
Granted | 496 | $ | 9.32 | ||||||||||||||
Vested | (120 | ) | $ | 12.38 | |||||||||||||
Forfeited | (4 | ) | $ | 13 | |||||||||||||
Nonvested at September 24, 2011 | 804 | $ | 9.79 | ||||||||||||||
Granted | 159 | $ | 9.16 | ||||||||||||||
Vested | (98 | ) | $ | 12.12 | |||||||||||||
Forfeited | (80 | ) | $ | 8.32 | |||||||||||||
Nonvested at September 29, 2012 | 785 | $ | 9.53 | ||||||||||||||
Granted | 552 | $ | 9.26 | ||||||||||||||
Vested | (354 | ) | $ | 9.6 | |||||||||||||
Forfeited | (89 | ) | $ | 9.37 | |||||||||||||
Nonvested at September 28, 2013 | 894 | $ | 9.35 | ||||||||||||||
The weighted average grant date fair value of restricted stock awards granted during the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 was $9.26, $9.16 and $9.32, respectively. The aggregate fair value as of the vesting date of restricted shares that vested was $3.4 million, $0.9 million, and $1.1 million for fiscal 2013, 2012 and 2011, respectively. | |||||||||||||||||
As of September 28, 2013, there was $4.4 million of unrecognized compensation cost related to nonvested restricted stock awards, which is expected to be recognized over a weighted average period of two years. |
Shareholders_Equity
Shareholders' Equity | 12 Months Ended |
Sep. 28, 2013 | |
Equity [Abstract] | ' |
Shareholders' Equity | ' |
15. Shareholders’ Equity | |
At September 28, 2013, there were 80,000,000 shares of common stock ($0.01 par value) authorized, of which 12,246,751 were outstanding, and 100,000,000 shares of non-voting Class A common stock ($0.01 par value) authorized, of which 35,291,001 were outstanding. The preferences and relative rights of the Class A common stock are identical to common stock in all respects, except that the Class A common stock generally will have no voting rights unless otherwise required by Delaware law. | |
There are 3,000,000 shares of Class B stock ($0.01 par value) authorized, of which 1,652,262 were outstanding at September 28, 2013 and September 29, 2012. The voting powers, preferences and relative rights of the Class B stock are identical to common stock in all respects except that (i) the holders of common stock are entitled to one vote per share and the holders of Class B stock are entitled to the lesser of ten votes per share or 49% of the total votes cast, (ii) stock dividends on common stock may be paid only in shares of common stock and stock dividends on Class B stock may be paid only in shares of Class B stock and (iii) shares of Class B stock have certain conversion rights and are subject to certain restrictions on ownership and transfer. Each share of Class B stock is convertible into one share of common stock, at the option of the holder. Additional shares of Class B stock may only be issued with majority approval of the holders of the common stock and Class B stock, voting as separate classes. | |
Under the Company’s former stock repurchase program, the Company was authorized to repurchase up to $100 million of its common stock, in part, to minimize the dilutive impact of the Company’s stock-based equity compensation programs over time. During the third fiscal quarter of fiscal 2011 the Company’s Board of Directors authorized a new $100 million share repurchase program. During the fiscal year ended September 28, 2013, the Company repurchased approximately 0.2 million shares of its Class A non-voting common stock for an aggregate price of approximately $1.5 million. In total, as of September 28, 2013, the Company had repurchased approximately 6.3 million shares for an aggregate price of approximately $49.9 million under the new share repurchase program. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||||||||||||||||||||||
16. Earnings Per Share | |||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share (EPS) computations: | |||||||||||||||||||||||||||||||||||||
Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended | |||||||||||||||||||||||||||||||||||
28-Sep-13 | 29-Sep-12 | 24-Sep-11 | |||||||||||||||||||||||||||||||||||
Net | Shares | Per | Net | Shares | Per | Net | Shares | Per | |||||||||||||||||||||||||||||
Income | Share | Income | Share | Income | Share | ||||||||||||||||||||||||||||||||
(Loss) | |||||||||||||||||||||||||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||||||
Basic EPS: | |||||||||||||||||||||||||||||||||||||
Net income (loss) available to common shareholders | $ | (1,929 | ) | 48,094 | $ | (0.04 | ) | $ | 21,173 | 47,622 | $ | 0.44 | $ | 28,323 | 56,217 | $ | 0.5 | ||||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||||||||||||||||||
Options to purchase common stock | 0 | 0 | 497 | 0 | 274 | 0 | |||||||||||||||||||||||||||||||
Restricted shares | 0 | 0 | 255 | 0 | 154 | 0 | |||||||||||||||||||||||||||||||
Diluted EPS: | |||||||||||||||||||||||||||||||||||||
Net income (loss) available to common shareholders | $ | (1,929 | ) | 48,094 | $ | (0.04 | ) | $ | 21,173 | 48,374 | $ | 0.44 | $ | 28,323 | 56,645 | $ | 0.5 | ||||||||||||||||||||
Options to purchase 12.6 million shares of common stock and Class A common stock at prices ranging from $4.60 to $16.23 per share were outstanding at September 28, 2013. Of these shares, 10.4 million were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect of including these options would be anti-dilutive. Regardless of exercise price, all outstanding stock options were excluded in the calculation due to the net loss recorded for the period ended September 28, 2013. In periods where net earnings are reported, these options may become dilutive if the average market price of our common stock exceeds the exercise price of the outstanding options. | |||||||||||||||||||||||||||||||||||||
Options to purchase 11.6 million shares of common stock and Class A common stock at prices ranging from $4.60 to $16.23 per share were outstanding at September 29, 2012. Of these shares, 6.1 million were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect of including these options would be anti-dilutive. | |||||||||||||||||||||||||||||||||||||
Options to purchase 12.1 million shares of common stock and Class A common stock at prices ranging from $4.60 to $17.99 per share were outstanding at September 24, 2011. Of these shares, 8.4 million were not included in the computation of diluted earnings per share because the option exercise prices were greater than the average market price of the common shares and, therefore, the effect of including these options would be anti-dilutive. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data - Unaudited | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Quarterly Financial Data - Unaudited | ' | ||||||||||||||||
17. Quarterly Financial Data – Unaudited | |||||||||||||||||
Fiscal 2013 | |||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||
Net sales | $ | 292,497 | $ | 498,169 | $ | 494,130 | $ | 368,837 | |||||||||
Gross profit | 76,959 | 153,170 | 152,466 | 81,307 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company | (15,269 | ) | 22,196 | 13,725 | (22,581 | ) (1) | |||||||||||
Net income (loss) per share: | |||||||||||||||||
Basic | $ | (0.32 | ) | $ | 0.46 | $ | 0.28 | $ | (0.47 | ) | |||||||
Diluted | $ | (0.32 | ) | $ | 0.46 | $ | 0.28 | $ | (0.47 | ) | |||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic | 47,871 | 48,064 | 48,173 | 48,264 | |||||||||||||
Diluted | 47,871 | 48,740 | 48,822 | 48,264 | |||||||||||||
Fiscal 2012 | |||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||
Net sales | $ | 302,066 | $ | 466,903 | $ | 533,808 | $ | 397,236 | |||||||||
Gross profit | 80,738 | 147,696 | 180,652 | 105,072 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company | (13,090 | ) | 21,623 | 22,699 | (10,059 | ) | |||||||||||
Net income (loss) per share: | |||||||||||||||||
Basic | $ | (0.27 | ) | $ | 0.46 | $ | 0.48 | $ | (0.21 | ) | |||||||
Diluted | $ | (0.27 | ) | $ | 0.45 | $ | 0.47 | $ | (0.21 | ) | |||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic | 47,823 | 47,343 | 47,661 | 47,704 | |||||||||||||
Diluted | 47,823 | 48,036 | 48,388 | 47,704 | |||||||||||||
-1 | The Company recognized a $7.7 million goodwill impairment charge and an $11.2 million charge related to certain new products introduced in fiscal 2013 in its Garden segment during the fourth quarter of fiscal 2013. |
Transactions_with_Related_Part
Transactions with Related Parties | 12 Months Ended |
Sep. 28, 2013 | |
Related Party Transactions [Abstract] | ' |
Transactions with Related Parties | ' |
18. Transactions with Related Parties | |
During fiscal 2013, 2012, and 2011, subsidiaries of the Company purchased approximately $1.0 million, $1.0 million, and $0.9 million, respectively, of products from Bio Plus, Inc., a company that produces granular peanut hulls. As of September 28, 2013 and September 29, 2012, the amounts owed to BioPlus, Inc. for such purchases were not material. A director of the Company was a minority shareholder and a director of Bio Plus, Inc. until May 2013. | |
During fiscal 2013, 2012, and 2011, Tech Pac, a subsidiary of the Company, made purchases from Contract Packaging, Inc, (“CPI”), Tech Pac’s principal supplier and a minority 20% shareholder in Tech Pac. Tech Pac’s total purchases from CPI were approximately $32.5 million, $39.3 million, and $33.2 million for fiscal years 2013, 2012, and 2011, respectively. Amounts due to CPI as of September 28, 2013 and September 29, 2012 were $0.5 million and $2.1 million, respectively. |
Business_Segment_Data
Business Segment Data | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Business Segment Data | ' | ||||||||||||
19. Business Segment Data | |||||||||||||
The Company’s chief operating decision maker is its Chief Executive Officer. Operating segments are managed separately because each segment represents a strategic business that offers different products or services. The Company’s chief operating decision maker evaluates performance based on profit or loss from operations. The Company’s Corporate division is included in the following presentation since certain expenses of this division are not allocated separately to the two operating segments. Segment assets exclude cash equivalents, short-term investments and deferred taxes. | |||||||||||||
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 the Pet segment and the Garden segment. Substantially all of the Company’s assets and operations relate to its business in the United States. | |||||||||||||
The Pet segment consists of Four Paws Products, TFH Publications, Kaytee, Aquatics, Interpet, Pets International, Breeder’s Choice and Life Sciences. These businesses are engaged in the manufacturing, purchase, sale and delivery of internally and externally produced pet supplies, books and food principally to independent pet distributors, national and regional retail chains, grocery stores, mass merchants and bookstores. The Garden segment consists of Pennington Seed, Matthews Four Seasons, Grant’s, AMBRANDS, Lilly Miller, the Pottery Group, Gulfstream and GKI/Bethlehem Lighting. Products manufactured, designed and sourced, or distributed are products found typically in the lawn and garden sections of mass merchandisers, warehouse-type clubs, home improvement centers and nurseries and include grass seed, bird feed, clay pottery, outdoor wooden planters and trellises, herbicides and insecticides. These products are sold directly to national and regional retail chains, independent garden distributors, grocery stores, nurseries and garden supply retailers. | |||||||||||||
The Corporate division includes expenses associated with corporate functions and projects, certain employee benefits, interest income, interest expense and intersegment eliminations. | |||||||||||||
The following table indicates each class of similar products which represented more than 10% of the Company’s consolidated net sales in the fiscal years presented (in millions). | |||||||||||||
Category | 2013 | 2012 | 2011 | ||||||||||
Pet supplies (excluding wild bird feed) | $ | 807.4 | $ | 847.1 | $ | 773.1 | |||||||
Garden controls and fertilizer products | 274.9 | 281.7 | 260 | ||||||||||
Wild bird feed | 210.8 | 205.1 | 197.5 | ||||||||||
Other garden supplies | 183.5 | 185.7 | 212.1 | ||||||||||
Grass seed | 177 | 180.4 | 185.9 | ||||||||||
Total | $ | 1,653.60 | $ | 1,700.00 | $ | 1,628.60 | |||||||
The Company’s largest customer represented approximately 16%, 17% and 16% of the total company net sales in fiscal 2013, 2012 and 2011, respectively, and represented approximately 30% of the Garden segment’s net sales in fiscal 2013 and fiscal 2012, and 28% in fiscal 2011. Sales to the Company’s second largest customer represented approximately 18% of our Garden segment’s net sales in fiscal 2013, 16% in fiscal 2012 and 15% in fiscal 2011. Sales to the Company’s third largest customer represented approximately 8%, 9% and 12% of total company net sales in fiscal 2013, 2012 and 2011, respectively, and represented approximately 17% of our Garden segment’s net sales in fiscal 2013, 20% in fiscal 2012 and 24% in fiscal 2011. The Pet segment’s largest customer represented approximately 11% of our Pet segment’s net sales in fiscal 2013 and 12% in both fiscal 2012 and fiscal 2011. | |||||||||||||
Financial information relating to the Company’s business segments for each of the three most recent fiscal years is presented in the table below (in thousands): | |||||||||||||
Fiscal Year Ended | |||||||||||||
September 28, | September 29, | September 24, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Net sales: | |||||||||||||
Pet segment | $ | 888,228 | $ | 930,753 | $ | 851,307 | |||||||
Garden segment | 765,405 | 769,260 | 777,345 | ||||||||||
Total | $ | 1,653,633 | $ | 1,700,013 | $ | 1,628,652 | |||||||
Income (loss) from operations: | |||||||||||||
Pet segment | $ | 95,451 | $ | 87,650 | $ | 77,623 | |||||||
Garden segment | 8,286 | (1) | 40,376 | 50,013 | |||||||||
Corporate | (63,582 | ) | (53,605 | ) | (42,461 | ) | |||||||
Total | 40,155 | 74,421 | 85,175 | ||||||||||
Interest expense | (43,112 | ) | (40,315 | ) | (38,044 | ) | |||||||
Interest income | 142 | 145 | 296 | ||||||||||
Other income (expense) | (677 | ) | 678 | 550 | |||||||||
Income (loss) before income taxes and noncontrolling interest | (3,492 | ) | 34,929 | 47,977 | |||||||||
Income tax expense (benefit) | (2,592 | ) | 12,816 | 19,595 | |||||||||
Net income (loss) including noncontrolling interest | (900 | ) | 22,113 | 28,382 | |||||||||
Net income attributable to noncontrolling interest | 1,029 | 940 | 59 | ||||||||||
Net income (loss) attributable to Central Garden & Pet Company | $ | (1,929 | ) | $ | 21,173 | $ | 28,323 | ||||||
Assets: | |||||||||||||
Pet segment | $ | 425,988 | $ | 411,059 | $ | 396,637 | |||||||
Garden segment | 388,581 | 341,716 | 350,234 | ||||||||||
Corporate and eliminations | 346,591 | 396,772 | 346,132 | ||||||||||
Total | $ | 1,161,160 | $ | 1,149,547 | $ | 1,093,003 | |||||||
Depreciation and amortization: | |||||||||||||
Pet segment | $ | 15,753 | $ | 14,507 | $ | 14,479 | |||||||
Garden segment | 6,410 | 6,213 | 5,986 | ||||||||||
Corporate | 10,805 | 9,705 | 8,101 | ||||||||||
Total | $ | 32,968 | $ | 30,425 | $ | 28,566 | |||||||
Expenditures for long-lived assets: | |||||||||||||
Pet segment | $ | 9,694 | $ | 15,540 | $ | 9,953 | |||||||
Garden segment | 7,496 | 4,138 | 5,902 | ||||||||||
Corporate | 7,982 | 19,914 | 15,708 | ||||||||||
Total | $ | 25,172 | $ | 39,592 | $ | 31,563 | |||||||
Noncontrolling interest is associated with the Garden segment. | |||||||||||||
-1 | Includes goodwill impairment of $7.7 million and an $11.2 million charge related to certain new products introduced in fiscal 2013. |
Consolidating_Condensed_Financ
Consolidating Condensed Financial Information of Guarantor Subsidiaries | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||
Consolidating Condensed Financial Information of Guarantor Subsidiaries | ' | ||||||||||||||||
20. Consolidating Condensed Financial Information of Guarantor Subsidiaries | |||||||||||||||||
Certain 100% wholly-owned subsidiaries of the Company (as listed below, collectively the “Guarantor Subsidiaries”) have guaranteed fully and unconditionally, on a joint and several basis, the obligation to pay principal and interest on the Company’s $450 million 8.25% Senior Subordinated Notes (the “Notes”) due March 1, 2018. Certain subsidiaries and operating divisions are not guarantors of the Notes and have been included in the financial results of the Parent in the information below. These Non-Guarantor entities are not material to the Parent. Those subsidiaries that are guarantors and co-obligors of the Notes are as follows: | |||||||||||||||||
Farnam Companies, Inc. | |||||||||||||||||
Four Paws Products Ltd. | |||||||||||||||||
Gulfstream Home & Garden, Inc. | |||||||||||||||||
Kaytee Products, Inc. | |||||||||||||||||
Matson, LLC | |||||||||||||||||
New England Pottery, LLC | |||||||||||||||||
Pennington Seed, Inc. (including Gro Tec, Inc. and All-Glass Aquarium Co., Inc.) | |||||||||||||||||
Pets International, Ltd. | |||||||||||||||||
T.F.H. Publications, Inc. | |||||||||||||||||
Wellmark International (including B2E Corporation and B2E Biotech LLC) | |||||||||||||||||
During fiscal 2012, the Company merged certain of its subsidiaries into the Parent. In fiscal years 2011, the following were included as Guarantor Subsidiaries because they were separate legal entities at that time: | |||||||||||||||||
Grant Laboratories, Inc. | |||||||||||||||||
Interpet USA, LLC | |||||||||||||||||
Matthews Redwood & Nursery Supply, Inc. | |||||||||||||||||
Fiscal 2012 and 2013 financial results reflect these entities as part of the Parent. Fiscal 2011 financial results presented herein have been restated to reflect the current Guarantor structure. | |||||||||||||||||
In lieu of providing separate audited financial statements for the Guarantor Subsidiaries, the Company has included the accompanying consolidating condensed financial statements based on the Company’s understanding of the Securities and Exchange Commission’s interpretation and application of Rule 3-10 of the Securities and Exchange Commission’s Regulation S-X. | |||||||||||||||||
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
Fiscal Year Ended September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net sales | $ | 502,311 | $ | 1,198,672 | $ | (47,350 | ) | $ | 1,653,633 | ||||||||
Cost of goods sold and occupancy | 402,801 | 834,280 | (47,350 | ) | 1,189,731 | ||||||||||||
Gross profit | 99,510 | 364,392 | 0 | 463,902 | |||||||||||||
Selling, general and administrative expenses | 141,447 | 274,591 | 0 | 416,038 | |||||||||||||
Goodwill impairment | 0 | 7,709 | 0 | 7,709 | |||||||||||||
Income (loss) from operations | (41,937 | ) | 82,092 | 0 | 40,155 | ||||||||||||
Interest – net | (43,047 | ) | 77 | 0 | (42,970 | ) | |||||||||||
Other income (expense) | (3,791 | ) | 3,114 | 0 | (677 | ) | |||||||||||
Income (loss) before income taxes and noncontrolling interest | (88,775 | ) | 85,283 | 0 | (3,492 | ) | |||||||||||
Income tax expense (benefit) | (47,803 | ) | 45,211 | 0 | (2,592 | ) | |||||||||||
Net income (loss) including noncontrolling interest | (40,972 | ) | 40,072 | 0 | (900 | ) | |||||||||||
Net income attributable to noncontrolling interest | 1,029 | 0 | 0 | 1,029 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | (42,001 | ) | 40,072 | 0 | (1,929 | ) | |||||||||||
Equity in undistributed income of guarantor subsidiaries | 40,072 | 0 | (40,072 | ) | 0 | ||||||||||||
Net income attributable to Central Garden & Pet Company | $ | (1,929 | ) | $ | 40,072 | $ | (40,072 | ) | $ | (1,929 | ) | ||||||
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
Fiscal Year Ended September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net sales | $ | 527,901 | $ | 1,244,430 | $ | (72,318 | ) | $ | 1,700,013 | ||||||||
Cost of goods sold and occupancy | 383,990 | 874,183 | (72,318 | ) | 1,185,855 | ||||||||||||
Gross profit | 143,911 | 370,247 | 0 | 514,158 | |||||||||||||
Selling, general and administrative expenses | 144,171 | 295,566 | 0 | 439,737 | |||||||||||||
Income (loss) from operations | (260 | ) | 74,681 | 0 | 74,421 | ||||||||||||
Interest – net | (40,324 | ) | 154 | 0 | (40,170 | ) | |||||||||||
Other income (expense) | (3,764 | ) | 4,442 | 0 | 678 | ||||||||||||
Income (loss) before income taxes and noncontrolling interest | (44,348 | ) | 79,277 | 0 | 34,929 | ||||||||||||
Income tax expense (benefit) | (15,698 | ) | 28,514 | 0 | 12,816 | ||||||||||||
Net income (loss) including noncontrolling interest | (28,650 | ) | 50,763 | 0 | 22,113 | ||||||||||||
Net income attributable to noncontrolling interest | 940 | 0 | 0 | 940 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | (29,590 | ) | 50,763 | 0 | 21,173 | ||||||||||||
Equity in undistributed income of guarantor subsidiaries | 50,763 | 0 | (50,763 | ) | 0 | ||||||||||||
Net income attributable to Central Garden & Pet Company | $ | 21,173 | $ | 50,763 | $ | (50,763 | ) | $ | 21,173 | ||||||||
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
Fiscal Year Ended September 24, 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net sales | $ | 500,668 | $ | 1,244,207 | $ | (116,223 | ) | $ | 1,628,652 | ||||||||
Cost of goods sold and occupancy | 374,215 | 876,741 | (116,223 | ) | 1,134,733 | ||||||||||||
Gross profit | 126,453 | 367,466 | 0 | 493,919 | |||||||||||||
Selling, general and administrative expenses | 132,974 | 275,770 | 0 | 408,744 | |||||||||||||
Income from operations | (6,521 | ) | 91,696 | 0 | 85,175 | ||||||||||||
Interest – net | (37,984 | ) | 236 | 0 | (37,748 | ) | |||||||||||
Other income (expense) | (236 | ) | 786 | 0 | 550 | ||||||||||||
Income (loss) before income taxes and noncontrolling interest | (44,741 | ) | 92,718 | 0 | 47,977 | ||||||||||||
Income tax expense (benefit) | (17,299 | ) | 36,894 | 0 | 19,595 | ||||||||||||
Net income (loss) including noncontrolling interest | (27,442 | ) | 55,824 | 28,382 | |||||||||||||
Net income attributable to noncontrolling interest | 59 | 0 | 0 | 59 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | (27,501 | ) | 55,824 | 0 | 28,323 | ||||||||||||
Equity in undistributed income of guarantor subsidiaries | 55,824 | 0 | (55,824 | ) | 0 | ||||||||||||
Net income attributable to Central Garden & Pet Company | $ | 28,323 | $ | 55,824 | $ | (55,824 | ) | $ | 28,323 | ||||||||
CONSOLIDATING CONDENSED STATEMENTS OF | |||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
Fiscal Year Ended September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
(unaudited) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net income (loss) | $ | (40,972 | ) | $ | 40,072 | $ | 0 | $ | (900 | ) | |||||||
Other comprehensive loss: | |||||||||||||||||
Foreign currency translation | (97 | ) | 0 | 0 | (97 | ) | |||||||||||
Total comprehensive income (loss) | (41,069 | ) | 40,072 | 0 | (997 | ) | |||||||||||
Comprehensive income attributable to noncontrolling interests | 1,029 | 0 | 0 | 1,029 | |||||||||||||
Comprehensive income (loss) attributable to Central Garden & Pet Company | $ | (42,098 | ) | $ | 40,072 | $ | 0 | $ | (2,026 | ) | |||||||
CONSOLIDATING CONDENSED STATEMENTS OF | |||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
Fiscal Ended September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
(unaudited) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net income (loss) | $ | (28,650 | ) | $ | 50,763 | $ | 0 | $ | 22,113 | ||||||||
Other comprehensive income: | |||||||||||||||||
Foreign currency translation | 520 | 0 | 0 | 520 | |||||||||||||
Total comprehensive income (loss) | (28,130 | ) | 50,763 | 0 | 22,633 | ||||||||||||
Comprehensive income attributable to noncontrolling interests | 940 | 0 | 0 | 940 | |||||||||||||
Comprehensive income (loss) attributable to Central Garden & Pet Company | $ | (29,070 | ) | $ | 50,763 | $ | 0 | $ | 21,693 | ||||||||
CONSOLIDATING CONDENSED STATEMENTS OF | |||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
Fiscal Ended September 24, 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
(unaudited) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net income (loss) | $ | (27,442 | ) | $ | 55,824 | $ | 0 | $ | 28,382 | ||||||||
Other comprehensive income: | |||||||||||||||||
Foreign currency translation | 75 | 0 | 0 | 75 | |||||||||||||
Total comprehensive income (loss) | (27,367 | ) | 55,824 | 0 | 28,457 | ||||||||||||
Comprehensive income attributable to noncontrolling interests | 59 | 0 | 0 | 59 | |||||||||||||
Comprehensive income (loss) attributable to Central Garden & Pet Company | $ | (27,426 | ) | $ | 55,824 | $ | 0 | $ | 28,398 | ||||||||
CONSOLIDATING CONDENSED BALANCE SHEET | |||||||||||||||||
28-Sep-13 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
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 | |||||||||||||||||
29-Sep-12 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
ASSETS | |||||||||||||||||
Cash and cash equivalents | $ | 44,662 | $ | 3,813 | $ | 0 | $ | 48,475 | |||||||||
Short term investments | 22,705 | 0 | 0 | 22,705 | |||||||||||||
Accounts receivable, net | 48,339 | 159,328 | (5,245 | ) | 202,422 | ||||||||||||
Inventories | 97,017 | 233,015 | 0 | 330,032 | |||||||||||||
Prepaid expenses and other assets | 25,242 | 22,907 | 0 | 48,149 | |||||||||||||
Total current assets | 237,965 | 419,063 | (5,245 | ) | 651,783 | ||||||||||||
Land, buildings, improvements and equipment, net | 81,727 | 109,436 | 0 | 191,163 | |||||||||||||
Goodwill | 0 | 210,223 | 0 | 210,223 | |||||||||||||
Investment in guarantors | 654,362 | 0 | (654,362 | ) | 0 | ||||||||||||
Other assets | 54,910 | 41,468 | 0 | 96,378 | |||||||||||||
Total | $ | 1,028,964 | $ | 780,190 | $ | (659,607 | ) | $ | 1,149,547 | ||||||||
LIABILITIES AND EQUITY | |||||||||||||||||
Accounts payable | $ | 49,894 | $ | 82,013 | $ | (5,245 | ) | $ | 126,662 | ||||||||
Accrued expenses and other liabilities | 38,673 | 41,149 | 0 | 79,822 | |||||||||||||
Total current liabilities | 88,567 | 123,162 | (5,245 | ) | 206,484 | ||||||||||||
Long-term debt | 449,387 | 96 | 0 | 449,483 | |||||||||||||
Other long-term obligations | 26,127 | 2,570 | 0 | 28,697 | |||||||||||||
Shareholders’ equity attributable to Central Garden & Pet | 463,937 | 654,362 | (654,362 | ) | 463,937 | ||||||||||||
Noncontrolling interest | 946 | 0 | 0 | 946 | |||||||||||||
Total equity | 464,883 | 654,362 | (654,362 | ) | 464,883 | ||||||||||||
Total | $ | 1,028,964 | $ | 780,190 | $ | (659,607 | ) | $ | 1,149,547 | ||||||||
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||||||
Fiscal Year Ended September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net cash (used) provided by operating activities | $ | (9,068 | ) | $ | 20,858 | $ | (40,072 | ) | $ | (28,282 | ) | ||||||
Additions to property | (8,993 | ) | (16,179 | ) | 0 | (25,172 | ) | ||||||||||
Businesses acquired, net of cash acquired | 0 | (4,835 | ) | 0 | (4,835 | ) | |||||||||||
Sale of short term investments | 4,885 | 0 | 0 | 4,885 | |||||||||||||
Investment in guarantor | (39,253 | ) | (819 | ) | 40,072 | 0 | |||||||||||
Net cash (used) provided by investing activities | (43,361 | ) | (21,833 | ) | 40,072 | (25,122 | ) | ||||||||||
Repayments on revolving line of credit | (368,000 | ) | 0 | 0 | (368,000 | ) | |||||||||||
Borrowings on revolving line of credit | 391,000 | 0 | 0 | 391,000 | |||||||||||||
Repayments of long-term debt | (206 | ) | (126 | ) | 0 | (332 | ) | ||||||||||
Proceeds from issuance of common stock | 613 | 0 | 0 | 613 | |||||||||||||
Excess tax benefits from stock-based awards | 388 | 0 | 0 | 388 | |||||||||||||
Repurchase of common stock | (2,731 | ) | 0 | 0 | (2,731 | ) | |||||||||||
Distribution to noncontrolling interest | (629 | ) | 0 | 0 | (629 | ) | |||||||||||
Net cash provided (used) by financing activities | 20,435 | (126 | ) | 0 | 20,309 | ||||||||||||
Effect of exchange rates on cash | (227 | ) | 3 | 0 | (224 | ) | |||||||||||
Net increase (decrease) in cash and cash equivalents | (32,221 | ) | (1,098 | ) | 0 | (33,319 | ) | ||||||||||
Cash and cash equivalents at beginning of year | 44,662 | 3,813 | 0 | 48,475 | |||||||||||||
Cash and cash equivalents at end of year | $ | 12,441 | $ | 2,715 | $ | 0 | $ | 15,156 | |||||||||
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||||||
Fiscal Year Ended September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net cash provided by operating activities | $ | 74,405 | $ | 65,527 | $ | (50,763 | ) | $ | 89,169 | ||||||||
Additions to property | (20,736 | ) | (18,856 | ) | 0 | (39,592 | ) | ||||||||||
Investment in short term investments | (4,885 | ) | 0 | 0 | (4,885 | ) | |||||||||||
Investment in guarantor | (6,736 | ) | (44,027 | ) | 50,763 | 0 | |||||||||||
Net cash provided (used) by investing activities | (32,357 | ) | (62,883 | ) | 50,763 | (44,477 | ) | ||||||||||
Repayments on revolving line of credit | (339,000 | ) | 0 | 0 | (339,000 | ) | |||||||||||
Borrowings on revolving line of credit | 304,000 | 0 | 0 | 304,000 | |||||||||||||
Proceeds from the issuance of long-term debt | 49,312 | 0 | 0 | 49,312 | |||||||||||||
Repayments of long-term debt | (231 | ) | (122 | ) | 0 | (353 | ) | ||||||||||
Proceeds from issuance of common stock | 2,129 | 0 | 0 | 2,129 | |||||||||||||
Excess tax benefits from stock-based awards | 1,881 | 0 | 0 | 1,881 | |||||||||||||
Repurchase of common stock | (24,829 | ) | 0 | 0 | (24,829 | ) | |||||||||||
Payment of financing costs | (1,715 | ) | 0 | 0 | (1,715 | ) | |||||||||||
Net cash used in financing activities | (8,453 | ) | (122 | ) | 0 | (8,575 | ) | ||||||||||
Effect of exchange rates on cash | 434 | (107 | ) | 0 | 327 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 34,029 | 2,415 | 0 | 36,444 | |||||||||||||
Cash and cash equivalents at beginning of year | 10,633 | 1,398 | 0 | 12,031 | |||||||||||||
Cash and cash equivalents at end of year | $ | 44,662 | $ | 3,813 | $ | 0 | $ | 48,475 | |||||||||
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||||||
Fiscal Year Ended September 24, 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net cash provided by operating activities | $ | 50,459 | $ | 56,373 | $ | (55,824 | ) | $ | 51,008 | ||||||||
Additions to property | (16,802 | ) | (14,761 | ) | 0 | (31,563 | ) | ||||||||||
Businesses acquired, net of cash acquired | (23,403 | ) | (1,904 | ) | 0 | (25,307 | ) | ||||||||||
Return of equity investment | 3,133 | 0 | 0 | 3,133 | |||||||||||||
Investment in short term investments | (2,500 | ) | 0 | 0 | (2,500 | ) | |||||||||||
Investment in guarantor | (16,719 | ) | (39,105 | ) | 55,824 | 0 | |||||||||||
Net cash used by investing activities | (56,291 | ) | (55,770 | ) | 55,824 | (56,237 | ) | ||||||||||
Repayments on revolving line of credit | (668,000 | ) | 0 | 0 | (668,000 | ) | |||||||||||
Borrowings on revolving line of credit | 703,000 | 0 | 0 | 703,000 | |||||||||||||
Repayments of long-term debt | (190 | ) | (145 | ) | 0 | (335 | ) | ||||||||||
Proceeds from issuance of common stock | 1,675 | 0 | 0 | 1,675 | |||||||||||||
Excess tax benefits from stock-based awards | 945 | 0 | 0 | 945 | |||||||||||||
Repurchase of common stock | (108,727 | ) | 0 | 0 | (108,727 | ) | |||||||||||
Payment of financing costs | (1,055 | ) | 0 | 0 | (1,055 | ) | |||||||||||
Distribution to noncontrolling interest | (1,500 | ) | 0 | 0 | (1,500 | ) | |||||||||||
Net cash used in financing activities | (73,852 | ) | (145 | ) | 0 | (73,997 | ) | ||||||||||
Effect of exchange rates on cash | 52 | (255 | ) | 0 | (203 | ) | |||||||||||
Net increase (decrease) in cash and cash equivalents | (79,632 | ) | 203 | 0 | (79,429 | ) | |||||||||||
Cash and cash equivalents at beginning of year | 90,265 | 1,195 | 0 | 91,460 | |||||||||||||
Cash and cash equivalents at end of year | $ | 10,633 | $ | 1,398 | $ | 0 | $ | 12,031 | |||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Sep. 28, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
21. Subsequent Events | |
Asset Backed Loan Facility | |
On December 5, 2013, the Company entered into a Credit Agreement which provides for a $390 million principal amount senior secured asset-based revolving credit facility, with up to an additional $200 million principal amount available with the consent of the Lenders if the Company exercises the accordion feature set forth therein (collectively, the “Credit Facility”). The Credit Facility matures on December 5, 2018 and replaced the Company’s Old Credit Facility. The Company may borrow, repay and reborrow amounts under the Credit Facility until its maturity date, at which time all amounts outstanding under the Credit Facility must be repaid in full. | |
The Credit Facility is subject to a borrowing base, calculated using a formula based upon eligible receivables and inventory, minus certain reserves and subject to restrictions. The Company did not draw down under the Credit Facility upon closing. Borrowings under the Credit Facility will bear interest at an index based on LIBOR or, at the option of the Company, the Base Rate (defined as the highest of (a) the SunTrust prime rate, (b) the Federal Funds Rate plus 0.5% and (c) one-month LIBOR plus 1.00%), plus, in either case, an applicable margin based on the Company’s total outstanding borrowings. Such applicable margin for LIBOR-based borrowings fluctuates between 1.25%-1.75% (and was 1.25% at the time of closing) and such applicable margin for Base Rate borrowings fluctuates between 0.25%-0.75% (and was 0.25% at closing). | |
The Credit Facility contains customary covenants, including financial covenants which require the Company to maintain a minimum fixed charge coverage ratio of 1.00:1.00 upon reaching certain borrowing levels. The Credit Facility is secured by substantially all assets of the Company. |
Organization_and_Significant_A1
Organization and Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 28, 2013 | |
Accounting Policies [Abstract] | ' |
Organization | ' |
Organization – Central Garden & Pet Company (“Central”), a Delaware corporation, and subsidiaries (the “Company”), is a leading marketer and producer of quality branded products for the pet and lawn and garden supplies markets. | |
Basis of Consolidation and Presentation | ' |
Basis of Consolidation and Presentation – The consolidated financial statements include the accounts of Central and all majority-owned subsidiaries. Noncontrolling interests in consolidated entities are recognized for the share of assets, liabilities and operating results not owned by Central. All intercompany balances and transactions have been eliminated. The fiscal years ended September 28, 2013 and September 24, 2011 included 52 weeks; the fiscal year ended September 29, 2012 included 53 weeks. | |
Noncontrolling Interest | ' |
Noncontrolling Interest – Noncontrolling interest in the Company’s consolidated financial statements represents the 20% interest not owned by the Company in a consolidated subsidiary. Since the Company controls this subsidiary, its financial statements are fully consolidated with those of the Company, and the noncontrolling owner’s 20% share of the subsidiary’s net assets and results of operations is deducted and reported as noncontrolling interest on the consolidated balance sheets and as net income (loss) attributable to noncontrolling interest in the consolidated statements of operations. | |
Use of Estimates | ' |
Use of Estimates – The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires that management make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period including realization of accounts receivable and inventory and valuation of goodwill. Actual results could differ from those estimates. | |
Revenue Recognition | ' |
Revenue Recognition – Sales are recognized when merchandise is shipped, risk of loss and title passes to the customer and the Company has no further obligations to provide services related to such merchandise. Discounts, volume-based rebate incentives and most cooperative advertising amounts are recorded as a reduction of sales. The Company’s practice on product returns is to accept and credit the return of unopened cases of products from customers where the quantity is small, where the product has been mis-shipped or the product is defective. Provisions are made for estimated sales returns which are deducted from net sales at the time of shipment. Sales also include shipping and handling costs billed directly to customers. The amount billed to customers for shipping and handling costs included in net sales for the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 was $6.9 million, $4.8 million and $2.7 million, respectively. | |
Cost of Goods Sold and Occupancy | ' |
Cost of goods sold and occupancy consists of cost of product, inbound freight charges, purchasing and receiving costs, certain indirect purchasing, merchandise handling and storage costs, internal transfer costs as well as allocations of overhead costs, including depreciation, related to the Company’s facilities. Cost of goods sold excludes substantially all shipping and handling and out-bound freight costs to customers, which are included in selling, general and administrative expenses as delivery expenses. The cost of shipping and handling, including internal costs and payments to third parties, included in delivery expenses within selling, general and administrative expenses for the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 was $47.7 million, $54.6 million and $49.7 million, respectively. | |
Advertising Costs | ' |
Advertising Costs – The Company expenses the costs of advertising as incurred. Advertising expenses were $44.5 million, $54.4 million and $39.6 million in fiscal 2013, 2012, and 2011, respectively. | |
401(k) Plans | ' |
401(k) Plans – The Company sponsors several 401(k) plans which cover substantially all employees. The Company’s matching contributions expensed under these plans were $2.1 million for each of the fiscal years 2013, 2012 and 2011. In fiscal 2013, 2012 and 2011, the Company’s matching contributions made in the Company’s Class A common stock resulted in the issuance of approximately 229,000, 230,000 and 190,000 shares, respectively. | |
Other Income | ' |
Other income consists principally of earnings from equity method investments and foreign exchange gains and losses. | |
Income Taxes | ' |
Income taxes are accounted for under the asset and liability method. Deferred income taxes result primarily from bad debt allowances, inventory and goodwill write-downs, amortization and depreciation. The Company establishes a valuation allowance for deferred tax assets when management believes it is more likely than not a deferred tax asset will not be realized. As of fiscal year-end 2013 and 2012, the Company had valuation allowances related to various state and foreign net deferred tax assets of $7.0 million and $7.3 million, respectively. The Company has no undistributed foreign earnings. | |
Cash and Cash Equivalents | ' |
Cash and cash equivalents include all highly liquid debt instruments with a maturity of three months or less at the date of purchase. | |
Short Term Investments | ' |
Short term investments include investments with original maturities greater than three months and remaining maturities of one year or less. Short-term investments classified as held-to-maturity are financial instruments that the Company has the intent and ability to hold to maturity and are reported at amortized cost and are not remeasured to fair value on a recurring basis. | |
Accounts Receivable | ' |
Accounts receivable are carried at their estimated collectible amounts. Trade credit is generally extended on a short-term basis; thus trade receivables do not bear interest, although a finance charge may be applied to such receivables that are past due. | |
Allowance for Doubtful Accounts | ' |
Allowance for doubtful accounts – Trade accounts receivable are regularly evaluated for collectability based on past credit history with customers and their current financial condition. | |
Inventories | ' |
Inventories, which primarily consist of garden products and pet supplies finished goods, are stated at the lower of FIFO cost or market. Cost includes certain indirect purchasing, merchandise handling and storage costs incurred to acquire or manufacture inventory, costs to unload, process and put away shipments received in order to prepare them to be picked for orders, and certain other overhead costs. The amount of such costs capitalized to inventory is computed based on an estimate of costs related to the procurement and processing of inventory to prepare it for sale compared to total product purchases. | |
Long-Lived Assets | ' |
Long-Lived Assets – The Company reviews its long-lived assets, including amortizable and indefinite-lived intangible assets and property, plant and equipment, for potential impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable, and annually for indefinite-lived intangible assets. An impairment loss would be recognized for amortizable intangible assets and property, plant and equipment when estimated undiscounted future cash flows expected to result from the use of the asset are less than its carrying amount. An impairment loss would be recognized for an intangible asset with an indefinite useful life if its carrying value exceeds its fair value. Impairment, if any, is measured as the amount by which the carrying amount of a long-lived asset exceeds its fair value. Should market conditions or the assumptions used by the Company in determining the fair value of assets change, or management changes plans regarding the future use of certain assets, additional charges to operations may be required in the period in which such conditions occur. See Note 10 – Other Intangible Assets. | |
Land, buildings, improvements and equipment | ' |
Land, buildings, improvements and equipment are stated at cost. Depreciation is computed by the straight-line method over thirty years for buildings. Improvements are amortized on a straight-line basis over the shorter of the useful life of the asset or the terms of the related leases. Depreciation on equipment and capitalized software is computed by the straight-line and accelerated methods over the estimated useful lives of 3 to 10 years. | |
Goodwill | ' |
Goodwill represents the excess of cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. Identifiable intangible assets acquired in business combinations are recorded based on their fair values at the date of acquisition. Goodwill is not subject to amortization but must be evaluated for impairment annually. The Company tests for goodwill impairment annually or whenever events occur or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. See Note 9 – Goodwill. | |
Investments | ' |
Investments – The Company owns membership interests approximating 50% in two unconsolidated companies. The Company accounts for its interest in these entities using the equity method. Equity income of $0.9 million in fiscal 2013, $0.7 million in fiscal 2012 and $0.9 million in fiscal 2011 is included in other income in the consolidated statements of operations. The Company’s investment in these entities was $0.8 million at September 28, 2013 and $1.3 million at September 29, 2012. On a combined basis, the assets, liabilities, revenues and expenses of these entities are not significant. | |
Accruals For Insurance | ' |
Accruals For Insurance – The Company maintains insurance for certain risks, including workers’ compensation, general liability and vehicle liability, and is self-insured for employee related health care benefits. The Company’s workers’ compensation, general liability and vehicle liability insurance policies include deductibles of $250,000 to $350,000 per occurrence. The Company maintains excess loss insurance that covers any health care claims in excess of $700,000 per person per year. The Company establishes reserves for losses based on its claims experience and actuarial estimates of the ultimate loss amount inherent in the claims, including claims incurred but not yet reported. Costs are recognized in the period the claim is incurred, and the financial statement accruals include an estimate of claims incurred but not yet reported. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments – At September 28, 2013 and September 29, 2012, the carrying amount of cash and cash equivalents, short term investments, accounts receivable and payable, short term borrowings and accrued liabilities approximates fair value because of the short term nature of these instruments. The estimated fair value of the Company’s senior subordinated notes is based on quoted market prices for these instruments. See Note 2 for further information regarding the fair value of the Company’s financial instruments. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments – The Company reports all derivative financial instruments on the balance sheet at fair value. Changes in fair value are recognized in earnings, or are deferred, depending on the nature of the underlying exposure being hedged and how effective the derivative is at offsetting a change in the underlying exposure. | |
The Company principally uses a combination of purchase orders and various short and long-term supply arrangements in connection with the purchase of raw materials, including certain commodities. The Company also enters into commodity futures, options and swap contracts to reduce the volatility of price fluctuations of corn, which impacts the cost of raw materials. The Company’s primary objective when entering into these derivative contracts is to achieve greater certainty with regard to the future price of commodities purchased for use in its supply chain. These derivative contracts are entered into for periods consistent with the related underlying exposures and do not constitute positions independent of those exposures. The Company does not enter into derivative contracts for speculative purposes and does not use leveraged instruments. | |
The Company did not perform the assessments required to achieve hedge accounting for commodity derivative positions. Accordingly, the changes in the values of these derivatives are recorded currently in its consolidated statements of operations. As of September 28, 2013 and September 29, 2012, the notional amount of these contracts was not significant. | |
Stock-Based Compensation | ' |
Stock-Based Compensation – Stock-based compensation cost is estimated at the grant date based on the fair value of the award and is expensed ratably over the service period of the award. Total compensation costs recognized under all share-based arrangements in fiscal 2013 was $15.9 million ($10.0 million after tax), in fiscal 2012 was $7.5 million ($4.7 million after tax) and in fiscal 2011 was $7.4 million ($4.4 million after tax). See Note 13 for further information. | |
Total Comprehensive Income | ' |
Total Comprehensive Income (Loss) – Total comprehensive income (loss) consists of two components: net income and other comprehensive income (loss). Other comprehensive income (loss) refers to gains and losses that under generally accepted accounting principles are recorded directly as an element of shareholders’ equity, but are excluded from net income. Other comprehensive income (loss) is comprised of currency translation adjustments relating to the Company’s foreign subsidiary whose functional currency is not the U.S. dollar. The Company does not have any undistributed foreign earnings. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements – In June 2011, the FASB issued ASU No. 2011-05, “Comprehensive Income (Topic 220): Presentation of Comprehensive Income.” ASU No. 2011-05 requires that all nonowner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements, eliminating the option to present other comprehensive income in the statement of changes in equity. Under either choice, items that are reclassified from other comprehensive income to net income are required to be presented on the face of the financial statements where the components of net income and the components of other comprehensive income are presented. In December 2011, the FASB issued an update to ASU No. 2011-05, ASU No. 2011-12, which was issued to defer the effective date for amendments to the reclassifications of items out of accumulated other comprehensive income in ASU No. 2011-05. ASU 2011-05 and the amendments in ASU No. 2011-12 are effective for fiscal years and interim periods within those years, beginning after December 15, 2011 and became effective for the Company on September 30, 2012. The Company elected to report other comprehensive income and its components in a separate statement of comprehensive income. While the new guidance changed the presentation of comprehensive income, there were no changes to components that are recognized in net income or other comprehensive income as determined under previous accounting guidance. The amended guidance did not have a material effect on the Company’s consolidated financial statements. | |
In September 2011, the FASB issued ASU No. 2011-08, “Intangibles – Goodwill and Other (Topic 350): Testing Goodwill for Impairment, which amended the guidance on the annual testing of goodwill for impairment. The amended guidance allows companies to assess qualitative factors to determine if it is more-likely-than-not that goodwill might be impaired and whether it is necessary to perform the two-step goodwill impairment test required under current accounting standards. The guidance is effective for fiscal years beginning after December 15, 2011, and became effective for the Company on September 30, 2012. This new guidance did not have a material impact on the Company’s consolidated financial statements. | |
In July 2012, the FASB issued an ASU No. 2012-02, “Intangibles – Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment, which simplifies the manner in which companies test indefinite-lived intangible assets for impairment. The ASU permits companies to first assess qualitative factors to determine whether events and circumstances indicate that it is more likely than not that the indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform a quantitative impairment test. The ASU is effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption permitted. The guidance became effective for the Company on September 30, 2012. This new guidance is not expected to have a material impact on the Company’s consolidated financial statements. | |
In February 2013, the FASB issued Accounting Standards Update No. 2013-02, Comprehensive Income (Topic 220) – Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (ASU 2013-02). This guidance requires entities to disclose, either in the notes to the consolidated financial statements or parenthetically on the face of the statement that reports comprehensive income (loss), items reclassified out of Accumulated other comprehensive income (loss) and into net earnings in their entirety and the effect of the reclassification on each affected Statement of Operations line item. In addition, for Accumulated other comprehensive income (loss) reclassification items that are not reclassified in their entirety into net earnings, a cross reference to other required accounting standard disclosures is required. This guidance is effective for the Company on September 29, 2013. This new guidance did not have a material impact on the Company’s consolidated financial statements. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of September 28, 2013 (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Certificates of deposit (a) | $ | 0 | $ | 17,820 | $ | 0 | $ | 17,820 | |||||||||
Total assets | $ | 0 | $ | 17,820 | $ | 0 | $ | 17,820 | |||||||||
Liabilities: | |||||||||||||||||
Derivative liabilities (b) | $ | 0 | $ | 0 | $ | 0 | $ | 0 | |||||||||
Liability for contingent consideration (c) | 0 | 0 | 4,165 | 4,165 | |||||||||||||
Total liabilities | $ | 0 | $ | 0 | $ | 4,165 | $ | 4,165 | |||||||||
The following table presents our financial assets and liabilities at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of September 29, 2012 (in thousands): | |||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||
Certificates of deposit (a) | $ | 0 | $ | 17,820 | $ | 0 | $ | 17,820 | |||||||||
Derivative assets (b) | 0 | 334 | 0 | 334 | |||||||||||||
Total assets | $ | 0 | $ | 18,154 | $ | 0 | $ | 18,154 | |||||||||
Liabilities: | |||||||||||||||||
Derivative liabilities (b) | $ | 0 | $ | 206 | $ | 0 | $ | 206 | |||||||||
Total liabilities | $ | 0 | $ | 206 | $ | 0 | $ | 206 | |||||||||
(a) | The fair value of our time deposits is based on the most recent observable inputs for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active or are directly or indirectly observable. These are presented as short term investments in our consolidated balance sheets. | ||||||||||||||||
(b) | Derivative assets and liabilities were valued using quoted forward pricing from bank counterparties and are presented as other current assets and liabilities in our consolidated balance sheets. | ||||||||||||||||
(c) | The liability for contingent consideration relates to an earn-out for B2E, acquired in December 2012. The fair value of the contingent consideration arrangement is determined based on the Company’s evaluation as to the probability and amount of any earn-out that will be achieved based on expected future performance by the acquired entity. This is presented as part of long-term liabilities in our consolidated balance sheets. | ||||||||||||||||
Summary of Changes in Fair Value of Level 3 Financial Instruments | ' | ||||||||||||||||
The following table provides a summary of changes in fair value of our Level 3 financial instruments for the years ended September 28, 2013 and September 29, 2012 (in thousands): | |||||||||||||||||
Amount | |||||||||||||||||
Balance as of September 29, 2012 | $ | 0 | |||||||||||||||
Contingent performance-based payments established at the time of acquisition | 4,165 | ||||||||||||||||
Balance as of September 28, 2013 | $ | 4,165 | |||||||||||||||
Derivative_Instruments_Tables
Derivative Instruments (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Derivative Instruments Not Designated as Hedging Instruments | ' | ||||||||||||||||
The following table presents the fair value of all derivative instruments outstanding in the condensed consolidated balance sheets (in thousands): | |||||||||||||||||
September 28, 2013 | September 29, 2012 | ||||||||||||||||
Derivatives Not Designated as Hedging Instruments | Other Current | Other Current | Other Current | Other Current | |||||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Commodity contracts | $ | 0 | $ | 0 | $ | 334 | $ | 206 | |||||||||
Total derivative instruments | $ | 0 | $ | 0 | $ | 334 | $ | 206 | |||||||||
Summary of Derivative Instruments Not Designated as Hedging Instruments Statements of Financial Performance | ' | ||||||||||||||||
The following table presents the effect of derivative instruments recorded in other income (expense) on the condensed consolidated statements of operations (in thousands): | |||||||||||||||||
Fiscal Year Ended | |||||||||||||||||
Derivatives Not Designated as Hedging Instruments | September 28, | September 29, | September 24, | ||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Commodity contracts | $ | (958 | ) | $ | 111 | $ | (9 | ) | |||||||||
Total derivative instruments | $ | (958 | ) | $ | 111 | $ | (9 | ) | |||||||||
Gross Contract Notional Volume of Outstanding Derivative Contracts | ' | ||||||||||||||||
The following table presents the gross contract notional volume of outstanding derivative contracts: | |||||||||||||||||
Commodity | Metric | September 28, | September 29, | ||||||||||||||
2013 | 2012 | ||||||||||||||||
Corn | Bushels | 0 | 400,000 | ||||||||||||||
Soy Meal | Tons | 0 | 2,000 |
Allowance_for_Doubtful_Account1
Allowance for Doubtful Accounts (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Schedule of Allowance for Doubtful Accounts | ' | ||||||||||||||||
Changes in the allowance for doubtful accounts are summarized below (in thousands): | |||||||||||||||||
Description | Balances at | Charged/ | Asset | Balances | |||||||||||||
Beginning | (Credited) to | Write-Offs, | at End of | ||||||||||||||
of Period | Costs and | Less | Period | ||||||||||||||
Expenses | Recoveries | ||||||||||||||||
Fiscal year ended September 24, 2011 | $ | 21,564 | $ | (3,662 | ) | $ | (2,312 | ) | $ | 15,590 | |||||||
Fiscal year ended September 29, 2012 | 15,590 | 5,291 | (2,307 | ) | 18,574 | ||||||||||||
Fiscal year ended September 28, 2013 | 18,574 | 4,373 | (1,789 | ) | 21,158 |
Inventories_Net_Tables
Inventories, Net (Tables) | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Summary of Inventories, Net of Allowance for Obsolescence | ' | ||||||||
Inventories, net of allowance for obsolescence, consist of the following (in thousands): | |||||||||
September 28, | September 29, | ||||||||
2013 | 2012 | ||||||||
Raw materials | $ | 121,695 | $ | 94,387 | |||||
Work in progress | 19,856 | 13,587 | |||||||
Finished goods | 236,322 | 209,888 | |||||||
Supplies | 14,060 | 12,170 | |||||||
Total inventories, net | $ | 391,934 | $ | 330,032 | |||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Components of Property and Equipment | ' | ||||||||
Property and equipment consists of the following (in thousands): | |||||||||
As of | |||||||||
September 28, | September 29, | ||||||||
2013 | 2012 | ||||||||
Land | $ | 9,504 | $ | 9,504 | |||||
Buildings and improvements | 112,882 | 108,122 | |||||||
Transportation equipment | 5,646 | 6,125 | |||||||
Machine and warehouse equipment | 179,723 | 174,411 | |||||||
Capitalized software | 104,034 | 99,090 | |||||||
Office furniture and equipment | 25,248 | 26,076 | |||||||
437,037 | 423,328 | ||||||||
Accumulated depreciation and amortization | (248,124 | ) | (232,165 | ) | |||||
$ | 188,913 | $ | 191,163 | ||||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Changes in Carrying Amount of Goodwill | ' | ||||||||||||
Changes in the carrying amount of goodwill for the fiscal years ended September 28, 2013, September 29, 2012 and September 24, 2011 (in thousands): | |||||||||||||
Garden Products | Pet Products | Total | |||||||||||
Segment | Segment | ||||||||||||
Balance as of September 25, 2010 | |||||||||||||
Goodwill | $ | 211,554 | $ | 397,617 | $ | 609,171 | |||||||
Accumulated impairment losses | (205,874 | ) | (195,978 | ) | (401,852 | ) | |||||||
5,680 | 201,639 | 207,319 | |||||||||||
Additions in fiscal 2011 | 2,029 | 875 | 2,904 | ||||||||||
Balance as of September 24, 2011 | |||||||||||||
Goodwill | 213,583 | 398,492 | 612,075 | ||||||||||
Accumulated impairment losses | (205,874 | ) | (195,978 | ) | (401,852 | ) | |||||||
7,709 | 202,514 | 210,223 | |||||||||||
Balance as of September 29, 2012 | |||||||||||||
Goodwill | 213,583 | 398,492 | 612,075 | ||||||||||
Accumulated impairment losses | (205,874 | ) | (195,978 | ) | (401,852 | ) | |||||||
7,709 | 202,514 | 210,223 | |||||||||||
Additions in fiscal 2013 | 0 | 3,242 | 3,242 | ||||||||||
Impairment losses in fiscal 2013 | (7,709 | ) | 0 | (7,709 | ) | ||||||||
Balance as of September 28, 2013 | |||||||||||||
Goodwill | 213,583 | 401,734 | 615,317 | ||||||||||
Accumulated impairment losses | (213,583 | ) | (195,978 | ) | (409,561 | ) | |||||||
$ | 0 | $ | 205,756 | $ | 205,756 | ||||||||
Other_Intangible_Assets_Tables
Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Components of Gross and Net Acquired Intangible Assets | ' | ||||||||||||||||
The following table summarizes the components of gross and net acquired intangible assets: | |||||||||||||||||
Gross | Accumulated | Impairment | Net | ||||||||||||||
Amortization | Carrying | ||||||||||||||||
Value | |||||||||||||||||
(in millions) | |||||||||||||||||
September 28, 2013 | |||||||||||||||||
Marketing-related intangible assets – amortizable | $ | 12.5 | $ | (8.9 | ) | $ | 0 | $ | 3.6 | ||||||||
Marketing-related intangible assets – nonamortizable | 59.6 | 0 | (16.9 | ) | 42.7 | ||||||||||||
Total | 72.1 | (8.9 | ) | (16.9 | ) | 46.3 | |||||||||||
Customer-related intangible assets – amortizable | 42.8 | (17.9 | ) | 0 | 24.9 | ||||||||||||
Other acquired intangible assets – amortizable | 16.6 | (7.9 | ) | 0 | 8.7 | ||||||||||||
Other acquired intangible assets – nonamortizable | 1.2 | 0 | (1.2 | ) | 0 | ||||||||||||
Total | 17.8 | (7.9 | ) | (1.2 | ) | 8.7 | |||||||||||
Total other intangible assets | $ | 132.7 | $ | (34.7 | ) | $ | (18.1 | ) | $ | 79.9 | |||||||
September 29, 2012 | |||||||||||||||||
Marketing-related intangible assets – amortizable | $ | 12.3 | $ | (7.5 | ) | $ | 0 | $ | 4.8 | ||||||||
Marketing-related intangible assets – nonamortizable | 59.6 | 0 | (16.9 | ) | 42.7 | ||||||||||||
Total | 71.9 | (7.5 | ) | (16.9 | ) | 47.5 | |||||||||||
Customer-related intangible assets – amortizable | 42.7 | (15.4 | ) | 0 | 27.3 | ||||||||||||
Other acquired intangible assets – amortizable | 10.8 | (6.7 | ) | 0 | 4.1 | ||||||||||||
Other acquired intangible assets – nonamortizable | 1.2 | 0 | (1.2 | ) | 0 | ||||||||||||
Total | 12 | (6.7 | ) | (1.2 | ) | 4.1 | |||||||||||
Total other intangible assets | $ | 126.6 | $ | (29.6 | ) | $ | (18.1 | ) | $ | 78.9 | |||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||||
Sep. 28, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Components of Long-Term Debt | ' | ||||||||
Long-term debt consists of the following: | |||||||||
September 28 | September 29, | ||||||||
2013 | 2012 | ||||||||
(in thousands) | |||||||||
Senior subordinated notes, net of unamortized discount (1), interest at 8.25%, payable semi-annually, principal due March 2018 | $ | 449,417 | $ | 449,312 | |||||
Revolving credit facility, interest at Alternate Base Rate plus a margin of 0.75% to 1.75%, or LIBOR plus a margin of 1.75% to 2.75%, final maturity June 2016 | 23,000 | 0 | |||||||
Other notes payable | 170 | 502 | |||||||
Total | 472,587 | 449,814 | |||||||
Less current portion | (142 | ) | (331 | ) | |||||
Long-term portion | $ | 472,445 | $ | 449,483 | |||||
-1 | Represents unamortized original issue discount of $583 and $688, as of September 28, 2013 and September 29, 2012, respectively, which is amortizable until March 2018. | ||||||||
Scheduled Principal Repayments on Long-term Debt | ' | ||||||||
The scheduled principal repayments on long-term debt as of September 28, 2013 are as follows: | |||||||||
(in thousands) | |||||||||
Fiscal year: | |||||||||
2014 | $ | 142 | |||||||
2015 | 26 | ||||||||
2016 | 23,002 | ||||||||
2017 | 0 | ||||||||
2018 | 450,000 | ||||||||
Thereafter | 0 | ||||||||
Total | $ | 473,170 | (1) | ||||||
-1 | Debt repayments include an amount in excess of the carrying value of debt and reflect the unamortized portion of the original issue discount on the Senior Subordinated Notes of $0.6 million as of September 28, 2013, which is amortizable until March 2018. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Sep. 28, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Aggregate Minimum Annual Payments on Non-Cancelable Operating Leases | ' | ||||
Aggregate minimum annual payments on non-cancelable operating leases at September 28, 2013 are as follows: | |||||
(in thousands) | |||||
Fiscal year: | |||||
2014 | $ | 15,899 | |||
2015 | 12,011 | ||||
2016 | 8,649 | ||||
2017 | 6,041 | ||||
2018 | 2,099 | ||||
Thereafter | 1,723 | ||||
Total | $ | 46,422 | |||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||||||
Provision for Income Tax Expense (Benefit) | ' | ||||||||||||||||
The provision for income tax expense (benefit) consists of the following: | |||||||||||||||||
Fiscal Year Ended | |||||||||||||||||
September 28, | September 29, | September 24, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
(in thousands) | |||||||||||||||||
Current: | |||||||||||||||||
Federal. | $ | 52 | $ | (1,003 | ) | $ | (5,512 | ) | |||||||||
State. | 958 | 603 | 160 | ||||||||||||||
Foreign. | 0 | 35 | 35 | ||||||||||||||
Total | 1,010 | (365 | ) | (5,317 | ) | ||||||||||||
Deferred: | |||||||||||||||||
Federal. | (2,915 | ) | 12,671 | 22,667 | |||||||||||||
State. | (687 | ) | 198 | 1,214 | |||||||||||||
Foreign. | 0 | 312 | 1,031 | ||||||||||||||
Total | (3,602 | ) | 13,181 | 24,912 | |||||||||||||
Total | $ | (2,592 | ) | $ | 12,816 | $ | 19,595 | ||||||||||
Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Income Tax Rate | ' | ||||||||||||||||
A reconciliation of the statutory federal income tax rate to the Company’s effective income tax rate is as follows: | |||||||||||||||||
Fiscal Year Ended | |||||||||||||||||
September 28, | September 29, | September 24, | |||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||
Statutory federal income tax rate | (35.0 | )% | 35 | % | 35 | % | |||||||||||
State income taxes, net of federal benefit | (5.2 | ) | 2.3 | 2.8 | |||||||||||||
Other permanent differences | 2.4 | 0.6 | 1.4 | ||||||||||||||
Adjustment of prior year accruals | 1.8 | 0.2 | 1.2 | ||||||||||||||
Uncertain tax positions | 3.7 | 0 | (0.3 | ) | |||||||||||||
Credits | (29.3 | ) | (1.2 | ) | (2.9 | ) | |||||||||||
Change in valuation allowances | (9.0 | ) | (0.1 | ) | 3.2 | ||||||||||||
Foreign rate differential | (3.6 | ) | (0.1 | ) | 0.4 | ||||||||||||
Effective income tax rate (benefit) | (74.2 | %) | 36.7 | % | 40.8 | % | |||||||||||
Tax Effect of Temporary Differences and Carryforwards which Give Rise to Deferred Tax Assets and Liabilities | ' | ||||||||||||||||
The tax effect of temporary differences and carryforwards which give rise to deferred tax assets and liabilities are as follows: | |||||||||||||||||
September 28, 2013 | September 29, 2012 | ||||||||||||||||
Deferred | Deferred | Deferred | Deferred | ||||||||||||||
Tax | Tax | Tax | Tax | ||||||||||||||
Assets | Liabilities | Assets | Liabilities | ||||||||||||||
(in thousands) | |||||||||||||||||
Current: | |||||||||||||||||
Allowance for doubtful accounts . | $ | 7,758 | $ | 0 | $ | 6,741 | $ | 0 | |||||||||
Inventory write-downs | 14,983 | 0 | 10,411 | 0 | |||||||||||||
Prepaid expenses. | 620 | 0 | 112 | 0 | |||||||||||||
Nondeductible reserves | 2,782 | 0 | 997 | 0 | |||||||||||||
State taxes. | 0 | 188 | 0 | 245 | |||||||||||||
Employee benefits | 6,062 | 0 | 5,885 | 0 | |||||||||||||
Other. | 3,012 | 0 | 3,509 | 0 | |||||||||||||
Total | 35,218 | 188 | 27,655 | 245 | |||||||||||||
Noncurrent: | |||||||||||||||||
Depreciation and amortization. | 0 | 39,100 | 0 | 30,358 | |||||||||||||
Equity income. | 0 | 393 | 0 | 280 | |||||||||||||
State net operating loss carryforward | 4,816 | 0 | 4,160 | 0 | |||||||||||||
Stock based compensation | 6,061 | 0 | 5,225 | 0 | |||||||||||||
State credits | 2,421 | 0 | 2,241 | 0 | |||||||||||||
Other. | 5,349 | 0 | 2,866 | 0 | |||||||||||||
Valuation allowance | (6,968 | ) | 0 | (7,282 | ) | 0 | |||||||||||
Total. | 11,679 | 39,493 | 7,210 | 30,638 | |||||||||||||
Total. | $ | 46,897 | $ | 39,681 | $ | 34,865 | $ | 30,883 | |||||||||
Activity Related to Company's Unrecognized Tax Benefits | ' | ||||||||||||||||
The following table, which excludes interest and penalties, summarizes the activity related to the Company’s unrecognized tax benefits for fiscal years ended September 29, 2012 and September 28, 2013 (in thousands): | |||||||||||||||||
Balance as of September 24, 2011 | $ | 282 | |||||||||||||||
Increases related to prior year tax positions | 1 | ||||||||||||||||
Increases related to current year tax positions | 16 | ||||||||||||||||
Settlements | (37 | ) | |||||||||||||||
Balance as of September 29, 2012 | $ | 262 | |||||||||||||||
Increases related to prior year tax positions | 247 | ||||||||||||||||
Increases related to current year tax positions | 60 | ||||||||||||||||
Settlements | (202 | ) | |||||||||||||||
Decreases related to lapse of statute of limitations | (3 | ) | |||||||||||||||
Balance as of September 28, 2013 | $ | 364 | |||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Stock Option Activity | ' | ||||||||||||||||
The following table summarizes option activity for the period ended September 28, 2013: | |||||||||||||||||
Number of | Weighted | Weighted Average | Aggregate | ||||||||||||||
Shares | Average Exercise | Remaining | Intrinsic Value | ||||||||||||||
(in thousands) | Price per Share | Contractual Life | (in thousands) | ||||||||||||||
Outstanding at September 29, 2012 | 11,638 | $ | 10.73 | 3 years | $ | 22,172 | |||||||||||
Granted | 2,000 | $ | 8.4 | ||||||||||||||
Exercised | (285 | ) | $ | 5.35 | |||||||||||||
Cancelled or expired | (782 | ) | $ | 9.24 | |||||||||||||
Outstanding at September 28, 2013 | 12,571 | $ | 10.57 | 3 years | $ | 1,166 | |||||||||||
Exercisable at September 24, 2011 | 4,162 | $ | 11.32 | 3 years | $ | 1,139 | |||||||||||
Exercisable at September 29, 2012 | 4,601 | $ | 11.34 | 2 years | $ | 6,708 | |||||||||||
Exercisable at September 28, 2013 | 6,409 | $ | 11.21 | 2 years | 770 | ||||||||||||
Expected to vest after September 28, 2013 | 5,388 | $ | 9.9 | 4 years | $ | 347 | |||||||||||
Summary of Restricted Stock Award Activity | ' | ||||||||||||||||
Restricted stock award activity during the three fiscal years in the period ended September 28, 2013 is summarized as follows: | |||||||||||||||||
Number of | Weighted Average | ||||||||||||||||
Shares | Grant Date | ||||||||||||||||
Fair Value per | |||||||||||||||||
Share | |||||||||||||||||
(in thousands) | |||||||||||||||||
Nonvested at September 25, 2010 | 432 | $ | 10.6 | ||||||||||||||
Granted | 496 | $ | 9.32 | ||||||||||||||
Vested | (120 | ) | $ | 12.38 | |||||||||||||
Forfeited | (4 | ) | $ | 13 | |||||||||||||
Nonvested at September 24, 2011 | 804 | $ | 9.79 | ||||||||||||||
Granted | 159 | $ | 9.16 | ||||||||||||||
Vested | (98 | ) | $ | 12.12 | |||||||||||||
Forfeited | (80 | ) | $ | 8.32 | |||||||||||||
Nonvested at September 29, 2012 | 785 | $ | 9.53 | ||||||||||||||
Granted | 552 | $ | 9.26 | ||||||||||||||
Vested | (354 | ) | $ | 9.6 | |||||||||||||
Forfeited | (89 | ) | $ | 9.37 | |||||||||||||
Nonvested at September 28, 2013 | 894 | $ | 9.35 | ||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Numerators and Denominators in Basic and Diluted Per Share | ' | ||||||||||||||||||||||||||||||||||||
The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share (EPS) computations: | |||||||||||||||||||||||||||||||||||||
Fiscal Year Ended | Fiscal Year Ended | Fiscal Year Ended | |||||||||||||||||||||||||||||||||||
28-Sep-13 | 29-Sep-12 | 24-Sep-11 | |||||||||||||||||||||||||||||||||||
Net | Shares | Per | Net | Shares | Per | Net | Shares | Per | |||||||||||||||||||||||||||||
Income | Share | Income | Share | Income | Share | ||||||||||||||||||||||||||||||||
(Loss) | |||||||||||||||||||||||||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||||||||||||||||||||||
Basic EPS: | |||||||||||||||||||||||||||||||||||||
Net income (loss) available to common shareholders | $ | (1,929 | ) | 48,094 | $ | (0.04 | ) | $ | 21,173 | 47,622 | $ | 0.44 | $ | 28,323 | 56,217 | $ | 0.5 | ||||||||||||||||||||
Effect of dilutive securities: | |||||||||||||||||||||||||||||||||||||
Options to purchase common stock | 0 | 0 | 497 | 0 | 274 | 0 | |||||||||||||||||||||||||||||||
Restricted shares | 0 | 0 | 255 | 0 | 154 | 0 | |||||||||||||||||||||||||||||||
Diluted EPS: | |||||||||||||||||||||||||||||||||||||
Net income (loss) available to common shareholders | $ | (1,929 | ) | 48,094 | $ | (0.04 | ) | $ | 21,173 | 48,374 | $ | 0.44 | $ | 28,323 | 56,645 | $ | 0.5 |
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data - Unaudited (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ' | ||||||||||||||||
Schedule of Quarterly Financial Data - Unaudited | ' | ||||||||||||||||
Fiscal 2013 | |||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||
Net sales | $ | 292,497 | $ | 498,169 | $ | 494,130 | $ | 368,837 | |||||||||
Gross profit | 76,959 | 153,170 | 152,466 | 81,307 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company | (15,269 | ) | 22,196 | 13,725 | (22,581 | ) (1) | |||||||||||
Net income (loss) per share: | |||||||||||||||||
Basic | $ | (0.32 | ) | $ | 0.46 | $ | 0.28 | $ | (0.47 | ) | |||||||
Diluted | $ | (0.32 | ) | $ | 0.46 | $ | 0.28 | $ | (0.47 | ) | |||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic | 47,871 | 48,064 | 48,173 | 48,264 | |||||||||||||
Diluted | 47,871 | 48,740 | 48,822 | 48,264 | |||||||||||||
Fiscal 2012 | |||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | ||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||
Net sales | $ | 302,066 | $ | 466,903 | $ | 533,808 | $ | 397,236 | |||||||||
Gross profit | 80,738 | 147,696 | 180,652 | 105,072 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company | (13,090 | ) | 21,623 | 22,699 | (10,059 | ) | |||||||||||
Net income (loss) per share: | |||||||||||||||||
Basic | $ | (0.27 | ) | $ | 0.46 | $ | 0.48 | $ | (0.21 | ) | |||||||
Diluted | $ | (0.27 | ) | $ | 0.45 | $ | 0.47 | $ | (0.21 | ) | |||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic | 47,823 | 47,343 | 47,661 | 47,704 | |||||||||||||
Diluted | 47,823 | 48,036 | 48,388 | 47,704 | |||||||||||||
-1 | The Company recognized a $7.7 million goodwill impairment charge and an $11.2 million charge related to certain new products introduced in fiscal 2013 in its Garden segment during the fourth quarter of fiscal 2013. |
Business_Segment_Data_Tables
Business Segment Data (Tables) | 12 Months Ended | ||||||||||||
Sep. 28, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Class of Similar Products Which Represented More than 10% of Company's Consolidated Net Sales | ' | ||||||||||||
The following table indicates each class of similar products which represented more than 10% of the Company’s consolidated net sales in the fiscal years presented (in millions). | |||||||||||||
Category | 2013 | 2012 | 2011 | ||||||||||
Pet supplies (excluding wild bird feed) | $ | 807.4 | $ | 847.1 | $ | 773.1 | |||||||
Garden controls and fertilizer products | 274.9 | 281.7 | 260 | ||||||||||
Wild bird feed | 210.8 | 205.1 | 197.5 | ||||||||||
Other garden supplies | 183.5 | 185.7 | 212.1 | ||||||||||
Grass seed | 177 | 180.4 | 185.9 | ||||||||||
Total | $ | 1,653.60 | $ | 1,700.00 | $ | 1,628.60 | |||||||
Financial Information Relating to Company's Business Segments | ' | ||||||||||||
Financial information relating to the Company’s business segments for each of the three most recent fiscal years is presented in the table below (in thousands): | |||||||||||||
Fiscal Year Ended | |||||||||||||
September 28, | September 29, | September 24, | |||||||||||
2013 | 2012 | 2011 | |||||||||||
Net sales: | |||||||||||||
Pet segment | $ | 888,228 | $ | 930,753 | $ | 851,307 | |||||||
Garden segment | 765,405 | 769,260 | 777,345 | ||||||||||
Total | $ | 1,653,633 | $ | 1,700,013 | $ | 1,628,652 | |||||||
Income (loss) from operations: | |||||||||||||
Pet segment | $ | 95,451 | $ | 87,650 | $ | 77,623 | |||||||
Garden segment | 8,286 | (1) | 40,376 | 50,013 | |||||||||
Corporate | (63,582 | ) | (53,605 | ) | (42,461 | ) | |||||||
Total | 40,155 | 74,421 | 85,175 | ||||||||||
Interest expense | (43,112 | ) | (40,315 | ) | (38,044 | ) | |||||||
Interest income | 142 | 145 | 296 | ||||||||||
Other income (expense) | (677 | ) | 678 | 550 | |||||||||
Income (loss) before income taxes and noncontrolling interest | (3,492 | ) | 34,929 | 47,977 | |||||||||
Income tax expense (benefit) | (2,592 | ) | 12,816 | 19,595 | |||||||||
Net income (loss) including noncontrolling interest | (900 | ) | 22,113 | 28,382 | |||||||||
Net income attributable to noncontrolling interest | 1,029 | 940 | 59 | ||||||||||
Net income (loss) attributable to Central Garden & Pet Company | $ | (1,929 | ) | $ | 21,173 | $ | 28,323 | ||||||
Assets: | |||||||||||||
Pet segment | $ | 425,988 | $ | 411,059 | $ | 396,637 | |||||||
Garden segment | 388,581 | 341,716 | 350,234 | ||||||||||
Corporate and eliminations | 346,591 | 396,772 | 346,132 | ||||||||||
Total | $ | 1,161,160 | $ | 1,149,547 | $ | 1,093,003 | |||||||
Depreciation and amortization: | |||||||||||||
Pet segment | $ | 15,753 | $ | 14,507 | $ | 14,479 | |||||||
Garden segment | 6,410 | 6,213 | 5,986 | ||||||||||
Corporate | 10,805 | 9,705 | 8,101 | ||||||||||
Total | $ | 32,968 | $ | 30,425 | $ | 28,566 | |||||||
Expenditures for long-lived assets: | |||||||||||||
Pet segment | $ | 9,694 | $ | 15,540 | $ | 9,953 | |||||||
Garden segment | 7,496 | 4,138 | 5,902 | ||||||||||
Corporate | 7,982 | 19,914 | 15,708 | ||||||||||
Total | $ | 25,172 | $ | 39,592 | $ | 31,563 | |||||||
Consolidating_Condensed_Financ1
Consolidating Condensed Financial Information of Guarantor Subsidiaries (Tables) | 12 Months Ended | ||||||||||||||||
Sep. 28, 2013 | |||||||||||||||||
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] | ' | ||||||||||||||||
Condensed Statement of Operations Based on Company's Understanding of SEC's Interpretation | ' | ||||||||||||||||
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
Fiscal Year Ended September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net sales | $ | 502,311 | $ | 1,198,672 | $ | (47,350 | ) | $ | 1,653,633 | ||||||||
Cost of goods sold and occupancy | 402,801 | 834,280 | (47,350 | ) | 1,189,731 | ||||||||||||
Gross profit | 99,510 | 364,392 | 0 | 463,902 | |||||||||||||
Selling, general and administrative expenses | 141,447 | 274,591 | 0 | 416,038 | |||||||||||||
Goodwill impairment | 0 | 7,709 | 0 | 7,709 | |||||||||||||
Income (loss) from operations | (41,937 | ) | 82,092 | 0 | 40,155 | ||||||||||||
Interest – net | (43,047 | ) | 77 | 0 | (42,970 | ) | |||||||||||
Other income (expense) | (3,791 | ) | 3,114 | 0 | (677 | ) | |||||||||||
Income (loss) before income taxes and noncontrolling interest | (88,775 | ) | 85,283 | 0 | (3,492 | ) | |||||||||||
Income tax expense (benefit) | (47,803 | ) | 45,211 | 0 | (2,592 | ) | |||||||||||
Net income (loss) including noncontrolling interest | (40,972 | ) | 40,072 | 0 | (900 | ) | |||||||||||
Net income attributable to noncontrolling interest | 1,029 | 0 | 0 | 1,029 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | (42,001 | ) | 40,072 | 0 | (1,929 | ) | |||||||||||
Equity in undistributed income of guarantor subsidiaries | 40,072 | 0 | (40,072 | ) | 0 | ||||||||||||
Net income attributable to Central Garden & Pet Company | $ | (1,929 | ) | $ | 40,072 | $ | (40,072 | ) | $ | (1,929 | ) | ||||||
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
Fiscal Year Ended September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net sales | $ | 527,901 | $ | 1,244,430 | $ | (72,318 | ) | $ | 1,700,013 | ||||||||
Cost of goods sold and occupancy | 383,990 | 874,183 | (72,318 | ) | 1,185,855 | ||||||||||||
Gross profit | 143,911 | 370,247 | 0 | 514,158 | |||||||||||||
Selling, general and administrative expenses | 144,171 | 295,566 | 0 | 439,737 | |||||||||||||
Income (loss) from operations | (260 | ) | 74,681 | 0 | 74,421 | ||||||||||||
Interest – net | (40,324 | ) | 154 | 0 | (40,170 | ) | |||||||||||
Other income (expense) | (3,764 | ) | 4,442 | 0 | 678 | ||||||||||||
Income (loss) before income taxes and noncontrolling interest | (44,348 | ) | 79,277 | 0 | 34,929 | ||||||||||||
Income tax expense (benefit) | (15,698 | ) | 28,514 | 0 | 12,816 | ||||||||||||
Net income (loss) including noncontrolling interest | (28,650 | ) | 50,763 | 0 | 22,113 | ||||||||||||
Net income attributable to noncontrolling interest | 940 | 0 | 0 | 940 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | (29,590 | ) | 50,763 | 0 | 21,173 | ||||||||||||
Equity in undistributed income of guarantor subsidiaries | 50,763 | 0 | (50,763 | ) | 0 | ||||||||||||
Net income attributable to Central Garden & Pet Company | $ | 21,173 | $ | 50,763 | $ | (50,763 | ) | $ | 21,173 | ||||||||
CONSOLIDATING CONDENSED STATEMENT OF OPERATIONS | |||||||||||||||||
Fiscal Year Ended September 24, 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net sales | $ | 500,668 | $ | 1,244,207 | $ | (116,223 | ) | $ | 1,628,652 | ||||||||
Cost of goods sold and occupancy | 374,215 | 876,741 | (116,223 | ) | 1,134,733 | ||||||||||||
Gross profit | 126,453 | 367,466 | 0 | 493,919 | |||||||||||||
Selling, general and administrative expenses | 132,974 | 275,770 | 0 | 408,744 | |||||||||||||
Income from operations | (6,521 | ) | 91,696 | 0 | 85,175 | ||||||||||||
Interest – net | (37,984 | ) | 236 | 0 | (37,748 | ) | |||||||||||
Other income (expense) | (236 | ) | 786 | 0 | 550 | ||||||||||||
Income (loss) before income taxes and noncontrolling interest | (44,741 | ) | 92,718 | 0 | 47,977 | ||||||||||||
Income tax expense (benefit) | (17,299 | ) | 36,894 | 0 | 19,595 | ||||||||||||
Net income (loss) including noncontrolling interest | (27,442 | ) | 55,824 | 28,382 | |||||||||||||
Net income attributable to noncontrolling interest | 59 | 0 | 0 | 59 | |||||||||||||
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | (27,501 | ) | 55,824 | 0 | 28,323 | ||||||||||||
Equity in undistributed income of guarantor subsidiaries | 55,824 | 0 | (55,824 | ) | 0 | ||||||||||||
Net income attributable to Central Garden & Pet Company | $ | 28,323 | $ | 55,824 | $ | (55,824 | ) | $ | 28,323 | ||||||||
Consolidating Condensed Statements of Comprehensive Income (Loss) | ' | ||||||||||||||||
CONSOLIDATING CONDENSED STATEMENTS OF | |||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
Fiscal Year Ended September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
(unaudited) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net income (loss) | $ | (40,972 | ) | $ | 40,072 | $ | 0 | $ | (900 | ) | |||||||
Other comprehensive loss: | |||||||||||||||||
Foreign currency translation | (97 | ) | 0 | 0 | (97 | ) | |||||||||||
Total comprehensive income (loss) | (41,069 | ) | 40,072 | 0 | (997 | ) | |||||||||||
Comprehensive income attributable to noncontrolling interests | 1,029 | 0 | 0 | 1,029 | |||||||||||||
Comprehensive income (loss) attributable to Central Garden & Pet Company | $ | (42,098 | ) | $ | 40,072 | $ | 0 | $ | (2,026 | ) | |||||||
CONSOLIDATING CONDENSED STATEMENTS OF | |||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
Fiscal Ended September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
(unaudited) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net income (loss) | $ | (28,650 | ) | $ | 50,763 | $ | 0 | $ | 22,113 | ||||||||
Other comprehensive income: | |||||||||||||||||
Foreign currency translation | 520 | 0 | 0 | 520 | |||||||||||||
Total comprehensive income (loss) | (28,130 | ) | 50,763 | 0 | 22,633 | ||||||||||||
Comprehensive income attributable to noncontrolling interests | 940 | 0 | 0 | 940 | |||||||||||||
Comprehensive income (loss) attributable to Central Garden & Pet Company | $ | (29,070 | ) | $ | 50,763 | $ | 0 | $ | 21,693 | ||||||||
CONSOLIDATING CONDENSED STATEMENTS OF | |||||||||||||||||
COMPREHENSIVE INCOME (LOSS) | |||||||||||||||||
Fiscal Ended September 24, 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
(unaudited) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net income (loss) | $ | (27,442 | ) | $ | 55,824 | $ | 0 | $ | 28,382 | ||||||||
Other comprehensive income: | |||||||||||||||||
Foreign currency translation | 75 | 0 | 0 | 75 | |||||||||||||
Total comprehensive income (loss) | (27,367 | ) | 55,824 | 0 | 28,457 | ||||||||||||
Comprehensive income attributable to noncontrolling interests | 59 | 0 | 0 | 59 | |||||||||||||
Comprehensive income (loss) attributable to Central Garden & Pet Company | $ | (27,426 | ) | $ | 55,824 | $ | 0 | $ | 28,398 | ||||||||
Condensed Balance Sheet based on Company's Understanding of SEC Interpretation | ' | ||||||||||||||||
CONSOLIDATING CONDENSED BALANCE SHEET | |||||||||||||||||
September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
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 | |||||||||||||||||
September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
ASSETS | |||||||||||||||||
Cash and cash equivalents | $ | 44,662 | $ | 3,813 | $ | 0 | $ | 48,475 | |||||||||
Short term investments | 22,705 | 0 | 0 | 22,705 | |||||||||||||
Accounts receivable, net | 48,339 | 159,328 | (5,245 | ) | 202,422 | ||||||||||||
Inventories | 97,017 | 233,015 | 0 | 330,032 | |||||||||||||
Prepaid expenses and other assets | 25,242 | 22,907 | 0 | 48,149 | |||||||||||||
Total current assets | 237,965 | 419,063 | (5,245 | ) | 651,783 | ||||||||||||
Land, buildings, improvements and equipment, net | 81,727 | 109,436 | 0 | 191,163 | |||||||||||||
Goodwill | 0 | 210,223 | 0 | 210,223 | |||||||||||||
Investment in guarantors | 654,362 | 0 | (654,362 | ) | 0 | ||||||||||||
Other assets | 54,910 | 41,468 | 0 | 96,378 | |||||||||||||
Total | $ | 1,028,964 | $ | 780,190 | $ | (659,607 | ) | $ | 1,149,547 | ||||||||
LIABILITIES AND EQUITY | |||||||||||||||||
Accounts payable | $ | 49,894 | $ | 82,013 | $ | (5,245 | ) | $ | 126,662 | ||||||||
Accrued expenses and other liabilities | 38,673 | 41,149 | 0 | 79,822 | |||||||||||||
Total current liabilities | 88,567 | 123,162 | (5,245 | ) | 206,484 | ||||||||||||
Long-term debt | 449,387 | 96 | 0 | 449,483 | |||||||||||||
Other long-term obligations | 26,127 | 2,570 | 0 | 28,697 | |||||||||||||
Shareholders’ equity attributable to Central Garden & Pet | 463,937 | 654,362 | (654,362 | ) | 463,937 | ||||||||||||
Noncontrolling interest | 946 | 0 | 0 | 946 | |||||||||||||
Total equity | 464,883 | 654,362 | (654,362 | ) | 464,883 | ||||||||||||
Total | $ | 1,028,964 | $ | 780,190 | $ | (659,607 | ) | $ | 1,149,547 | ||||||||
Condensed Cash Flows Statement on Company's Understanding of SEC Interpretation | ' | ||||||||||||||||
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||||||
Fiscal Year Ended September 28, 2013 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net cash (used) provided by operating activities | $ | (9,068 | ) | $ | 20,858 | $ | (40,072 | ) | $ | (28,282 | ) | ||||||
Additions to property | (8,993 | ) | (16,179 | ) | 0 | (25,172 | ) | ||||||||||
Businesses acquired, net of cash acquired | 0 | (4,835 | ) | 0 | (4,835 | ) | |||||||||||
Sale of short term investments | 4,885 | 0 | 0 | 4,885 | |||||||||||||
Investment in guarantor | (39,253 | ) | (819 | ) | 40,072 | 0 | |||||||||||
Net cash (used) provided by investing activities | (43,361 | ) | (21,833 | ) | 40,072 | (25,122 | ) | ||||||||||
Repayments on revolving line of credit | (368,000 | ) | 0 | 0 | (368,000 | ) | |||||||||||
Borrowings on revolving line of credit | 391,000 | 0 | 0 | 391,000 | |||||||||||||
Repayments of long-term debt | (206 | ) | (126 | ) | 0 | (332 | ) | ||||||||||
Proceeds from issuance of common stock | 613 | 0 | 0 | 613 | |||||||||||||
Excess tax benefits from stock-based awards | 388 | 0 | 0 | 388 | |||||||||||||
Repurchase of common stock | (2,731 | ) | 0 | 0 | (2,731 | ) | |||||||||||
Distribution to noncontrolling interest | (629 | ) | 0 | 0 | (629 | ) | |||||||||||
Net cash provided (used) by financing activities | 20,435 | (126 | ) | 0 | 20,309 | ||||||||||||
Effect of exchange rates on cash | (227 | ) | 3 | 0 | (224 | ) | |||||||||||
Net increase (decrease) in cash and cash equivalents | (32,221 | ) | (1,098 | ) | 0 | (33,319 | ) | ||||||||||
Cash and cash equivalents at beginning of year | 44,662 | 3,813 | 0 | 48,475 | |||||||||||||
Cash and cash equivalents at end of year | $ | 12,441 | $ | 2,715 | $ | 0 | $ | 15,156 | |||||||||
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||||||
Fiscal Year Ended September 29, 2012 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net cash provided by operating activities | $ | 74,405 | $ | 65,527 | $ | (50,763 | ) | $ | 89,169 | ||||||||
Additions to property | (20,736 | ) | (18,856 | ) | 0 | (39,592 | ) | ||||||||||
Investment in short term investments | (4,885 | ) | 0 | 0 | (4,885 | ) | |||||||||||
Investment in guarantor | (6,736 | ) | (44,027 | ) | 50,763 | 0 | |||||||||||
Net cash provided (used) by investing activities | (32,357 | ) | (62,883 | ) | 50,763 | (44,477 | ) | ||||||||||
Repayments on revolving line of credit | (339,000 | ) | 0 | 0 | (339,000 | ) | |||||||||||
Borrowings on revolving line of credit | 304,000 | 0 | 0 | 304,000 | |||||||||||||
Proceeds from the issuance of long-term debt | 49,312 | 0 | 0 | 49,312 | |||||||||||||
Repayments of long-term debt | (231 | ) | (122 | ) | 0 | (353 | ) | ||||||||||
Proceeds from issuance of common stock | 2,129 | 0 | 0 | 2,129 | |||||||||||||
Excess tax benefits from stock-based awards | 1,881 | 0 | 0 | 1,881 | |||||||||||||
Repurchase of common stock | (24,829 | ) | 0 | 0 | (24,829 | ) | |||||||||||
Payment of financing costs | (1,715 | ) | 0 | 0 | (1,715 | ) | |||||||||||
Net cash used in financing activities | (8,453 | ) | (122 | ) | 0 | (8,575 | ) | ||||||||||
Effect of exchange rates on cash | 434 | (107 | ) | 0 | 327 | ||||||||||||
Net increase (decrease) in cash and cash equivalents | 34,029 | 2,415 | 0 | 36,444 | |||||||||||||
Cash and cash equivalents at beginning of year | 10,633 | 1,398 | 0 | 12,031 | |||||||||||||
Cash and cash equivalents at end of year | $ | 44,662 | $ | 3,813 | $ | 0 | $ | 48,475 | |||||||||
CONSOLIDATING CONDENSED STATEMENT OF CASH FLOWS | |||||||||||||||||
Fiscal Year Ended September 24, 2011 | |||||||||||||||||
(in thousands) | |||||||||||||||||
Parent | Guarantor | Eliminations | Consolidated | ||||||||||||||
Subsidiaries | |||||||||||||||||
Net cash provided by operating activities | $ | 50,459 | $ | 56,373 | $ | (55,824 | ) | $ | 51,008 | ||||||||
Additions to property | (16,802 | ) | (14,761 | ) | 0 | (31,563 | ) | ||||||||||
Businesses acquired, net of cash acquired | (23,403 | ) | (1,904 | ) | 0 | (25,307 | ) | ||||||||||
Return of equity investment | 3,133 | 0 | 0 | 3,133 | |||||||||||||
Investment in short term investments | (2,500 | ) | 0 | 0 | (2,500 | ) | |||||||||||
Investment in guarantor | (16,719 | ) | (39,105 | ) | 55,824 | 0 | |||||||||||
Net cash used by investing activities | (56,291 | ) | (55,770 | ) | 55,824 | (56,237 | ) | ||||||||||
Repayments on revolving line of credit | (668,000 | ) | 0 | 0 | (668,000 | ) | |||||||||||
Borrowings on revolving line of credit | 703,000 | 0 | 0 | 703,000 | |||||||||||||
Repayments of long-term debt | (190 | ) | (145 | ) | 0 | (335 | ) | ||||||||||
Proceeds from issuance of common stock | 1,675 | 0 | 0 | 1,675 | |||||||||||||
Excess tax benefits from stock-based awards | 945 | 0 | 0 | 945 | |||||||||||||
Repurchase of common stock | (108,727 | ) | 0 | 0 | (108,727 | ) | |||||||||||
Payment of financing costs | (1,055 | ) | 0 | 0 | (1,055 | ) | |||||||||||
Distribution to noncontrolling interest | (1,500 | ) | 0 | 0 | (1,500 | ) | |||||||||||
Net cash used in financing activities | (73,852 | ) | (145 | ) | 0 | (73,997 | ) | ||||||||||
Effect of exchange rates on cash | 52 | (255 | ) | 0 | (203 | ) | |||||||||||
Net increase (decrease) in cash and cash equivalents | (79,632 | ) | 203 | 0 | (79,429 | ) | |||||||||||
Cash and cash equivalents at beginning of year | 90,265 | 1,195 | 0 | 91,460 | |||||||||||||
Cash and cash equivalents at end of year | $ | 10,633 | $ | 1,398 | $ | 0 | $ | 12,031 | |||||||||
Organization_and_Significant_A2
Organization and Significant Accounting Policies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Noncontrolling interest owned by the subsidiary | 20.00% | ' | ' |
Shipping and handling costs included in net sales | $6.90 | $4.80 | $2.70 |
Cost of shipping and handling included in selling, general and administrative expenses | 47.7 | 54.6 | 49.7 |
Advertising expenses | 44.5 | 54.4 | 39.6 |
Employees benefit plan | 2.1 | 2.1 | 2.1 |
Valuation allowances related to net deferred tax assets | $7 | $7.30 | ' |
Class A Common Stock [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
401(k) matching contributions made in Class A common stock | 229,000 | 230,000 | 190,000 |
Building [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Useful life | '30 years | ' | ' |
Maximum [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Maturity period of debt instruments | '3 months | ' | ' |
Maturity date of investments | '1 year | ' | ' |
Maximum [Member] | Equipment And Capitalized Software [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Useful life | '10 years | ' | ' |
Minimum [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Maturity date of investments | '3 months | ' | ' |
Minimum [Member] | Equipment And Capitalized Software [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Useful life | '3 years | ' | ' |
Organization_and_Significant_A3
Organization and Significant Accounting Policies - Additional Information1 (Detail) (USD $) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
Owned Percentage in unconsolidated Entities | 50.00% | ' | ' |
Equity income | $900,000 | $700,000 | $900,000 |
Investment in unconsolidated companies | 800,000 | 1,300,000 | ' |
Excess loss insurance that covers any health care claims | 700,000 | ' | ' |
Stock-based compensation | 15,892,000 | 7,510,000 | 7,447,000 |
Stock-based compensation after tax | 10,000,000 | 4,700,000 | 4,400,000 |
Maximum [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
General liability and vehicle liability insurance policies | 350,000 | ' | ' |
Minimum [Member] | ' | ' | ' |
New Accounting Pronouncement, Early Adoption [Line Items] | ' | ' | ' |
General liability and vehicle liability insurance policies | $250,000 | ' | ' |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Fair Value, Measurements, Recurring [Member], USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Total assets | $17,820 | $18,154 |
Liabilities: | ' | ' |
Total liabilities | 4,165 | 206 |
Derivative liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 206 |
Liability for contingent consideration [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 4,165 | ' |
Certificates of deposit [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 17,820 | 17,820 |
Derivative assets [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 334 |
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Level 1 [Member] | Derivative liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Level 1 [Member] | Certificates of deposit [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Level 1 [Member] | Derivative assets [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 0 |
Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 17,820 | 18,154 |
Liabilities: | ' | ' |
Total liabilities | 0 | 206 |
Level 2 [Member] | Derivative liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 206 |
Level 2 [Member] | Certificates of deposit [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 17,820 | 17,820 |
Level 2 [Member] | Derivative assets [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | 334 |
Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Liabilities: | ' | ' |
Total liabilities | 4,165 | 0 |
Level 3 [Member] | Derivative liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 0 | 0 |
Level 3 [Member] | Liability for contingent consideration [Member] | ' | ' |
Liabilities: | ' | ' |
Total liabilities | 4,165 | ' |
Level 3 [Member] | Certificates of deposit [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 0 | 0 |
Level 3 [Member] | Derivative assets [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | $0 |
Fair_Value_Measurements_Summar1
Fair Value Measurements - Summary of Changes in Fair Value of Level 3 Financial Instruments (Detail) (Level 3 [Member], USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 28, 2013 |
Level 3 [Member] | ' |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Balance as of September 29, 2012 | $0 |
Contingent performance-based payments established at the time of acquisition | 4,165 |
Balance as of September 28, 2013 | $4,165 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Goodwill impairment | $7,709,000 | $7,709,000 | $0 | $0 |
Senior subordinated notes due date | ' | 1-Jun-18 | ' | ' |
Senior subordinated notes [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Obligation to pay principle on the company Senior Subordinates Notes | 450,000,000 | 450,000,000 | ' | ' |
Senior subordinated notes, percentage | 8.25% | 8.25% | ' | ' |
Senior subordinated notes [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Senior subordinated notes due 2018 | 449,500,000 | 449,500,000 | ' | ' |
Senior subordinated notes [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Fair value and carrying value of senior subordinated Notes | $449,400,000 | $449,400,000 | ' | ' |
Derivative_Instruments_Summary
Derivative Instruments - Summary of Derivative Instruments Not Designated as Hedging Instruments (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ' | ' |
Other Current Assets | $0 | $334 |
Other Current Liabilities | 0 | 206 |
Commodity contracts [Member] | Derivatives Not Designated as Hedging Instrument [Member] | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments [Abstract] | ' | ' |
Other Current Assets | 0 | 334 |
Other Current Liabilities | $0 | $206 |
Derivative_Instruments_Summary1
Derivative Instruments - Summary of Derivative Instruments Not Designated as Hedging Instruments Statements of Financial Performance (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ' | ' | ' |
Total derivative instruments | ($958) | $111 | ($9) |
Commodity contracts [Member] | Derivatives Not Designated as Hedging Instrument [Member] | ' | ' | ' |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net [Abstract] | ' | ' | ' |
Total derivative instruments | ($958) | $111 | ($9) |
Derivative_Instruments_Gross_C
Derivative Instruments - Gross Contract Notional Volume of Outstanding Derivative Contracts (Detail) (Commodity contracts [Member]) | Sep. 28, 2013 | Sep. 29, 2012 |
bu | bu | |
Corn [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative commodity contract outstanding volume | 0 | 400,000 |
Soy Meal [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative commodity contract outstanding mass | 0 | 2,000 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Sep. 29, 2012 | Sep. 24, 2011 | Feb. 28, 2011 | Dec. 31, 2012 |
Acquisition | FourStar Microbial [Member] | |||
Business Combination Transactions [Line Items] | ' | ' | ' | ' |
Assets acquired during the period | ' | ' | $23 | $4.80 |
Contingent future performance-based payments | ' | ' | ' | 4.2 |
Excess of purchase price recorded as goodwill | ' | ' | 1 | 3.2 |
Company made acquisitions | 0 | ' | ' | ' |
Contingent performance payments | ' | $1.90 | ' | ' |
Concentration_of_Credit_Risk_a1
Concentration of Credit Risk and Significant Customers and Suppliers - Additional Information (Detail) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Customer | |||
Concentration Of Credit Risk [Line Items] | ' | ' | ' |
Percentage of net sales | 43.00% | 45.00% | 45.00% |
Number of major customers | 5 | ' | ' |
Percentage of accounts receivable | 35.00% | 42.00% | ' |
Percentage of accounts receivable including Company's largest customer | 9.00% | 15.00% | ' |
Percentage of cost of goods sold | 11.00% | 9.00% | 12.00% |
Number of major suppliers | 5 | ' | ' |
Customer One [Member] | ' | ' | ' |
Concentration Of Credit Risk [Line Items] | ' | ' | ' |
Percentage of largest customer accounted of the Company's net sales | 16.00% | 17.00% | 16.00% |
Customer Two [Member] | ' | ' | ' |
Concentration Of Credit Risk [Line Items] | ' | ' | ' |
Percentage of largest customer accounted of the Company's net sales | 8.00% | 7.00% | 7.00% |
Customer Three [Member] | ' | ' | ' |
Concentration Of Credit Risk [Line Items] | ' | ' | ' |
Percentage of largest customer accounted of the Company's net sales | 8.00% | 9.00% | 12.00% |
Allowance_for_Doubtful_Account2
Allowance for Doubtful Accounts - Schedule of Allowance for Doubtful Accounts (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Receivables [Abstract] | ' | ' | ' |
Balances at Beginning of Period | $18,574 | $15,590 | $21,564 |
Charged/ (Credited) to Cost and Expenses | 4,373 | 5,291 | -3,662 |
Asset Write-Offs, Less Recoveries | -1,789 | -2,307 | -2,312 |
Balances at End of Period | $21,158 | $18,574 | $15,590 |
Inventories_Net_Summary_of_Inv
Inventories, Net - Summary of Inventories, Net of Allowance for Obsolescence (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Inventory Net [Abstract] | ' | ' |
Raw materials | $121,695 | $94,387 |
Work in progress | 19,856 | 13,587 |
Finished goods | 236,322 | 209,888 |
Supplies | 14,060 | 12,170 |
Total inventories, net | $391,934 | $330,032 |
Property_and_Equipment_Net_Com
Property and Equipment, Net - Components of Property and Equipment (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | $437,037 | $423,328 |
Accumulated depreciation and amortization | -248,124 | -232,165 |
Property and Equipment, Net | 188,913 | 191,163 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 9,504 | 9,504 |
Building and improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 112,882 | 108,122 |
Transportation equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 5,646 | 6,125 |
Machine and warehouse equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 179,723 | 174,411 |
Capitalized software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | 104,034 | 99,090 |
Office furniture and equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and Equipment, Gross | $25,248 | $26,076 |
Property_and_Equipment_Net_Add
Property and Equipment, Net - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Property Plant And Equipment Useful Life And Values [Abstract] | ' | ' | ' |
Depreciation and amortization | $32,968 | $30,425 | $28,566 |
Goodwill_Changes_in_Carrying_A
Goodwill - Changes in Carrying Amount of Goodwill (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 25, 2010 |
Goodwill [Line Items] | ' | ' | ' | ' | ' |
Additions in fiscal year | ' | $3,242 | ' | $2,904 | ' |
Impairment losses in fiscal year | -7,709 | -7,709 | 0 | 0 | ' |
Goodwill | 615,317 | 615,317 | 612,075 | 612,075 | 609,171 |
Accumulated impairment losses | -409,561 | -409,561 | -401,852 | -401,852 | -401,852 |
Total goodwill | 205,756 | 205,756 | 210,223 | 210,223 | 207,319 |
Garden Products Segment [Member] | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' |
Additions in fiscal year | ' | 0 | ' | 2,029 | ' |
Impairment losses in fiscal year | ' | -7,709 | ' | ' | ' |
Goodwill | 213,583 | 213,583 | 213,583 | 213,583 | 211,554 |
Accumulated impairment losses | -213,583 | -213,583 | -205,874 | -205,874 | -205,874 |
Total goodwill | 0 | 0 | 7,709 | 7,709 | 5,680 |
Pet Products Segment [Member] | ' | ' | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' | ' | ' |
Additions in fiscal year | ' | 3,242 | ' | 875 | ' |
Impairment losses in fiscal year | ' | 0 | ' | ' | ' |
Goodwill | 401,734 | 401,734 | 398,492 | 398,492 | 397,617 |
Accumulated impairment losses | -195,978 | -195,978 | -195,978 | -195,978 | -195,978 |
Total goodwill | $205,756 | $205,756 | $202,514 | $202,514 | $201,639 |
Goodwill_Additional_Informatio
Goodwill - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Segment | ||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' | ' | ' |
Number of reportable segments | ' | 4 | ' | ' |
Impairment losses in fiscal year | $7,709 | $7,709 | $0 | $0 |
Fair value of reporting segment exceeds carrying value, percentage | ' | ' | 10.00% | 10.00% |
Other_Intangible_Assets_Compon
Other Intangible Assets - Components of Gross and Net Acquired Intangible Assets (Detail) (USD $) | 12 Months Ended | |
Sep. 28, 2013 | Sep. 29, 2012 | |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | $132,700,000 | $126,600,000 |
Accumulated Amortization | -34,700,000 | -29,600,000 |
Impairment | -18,100,000 | -18,100,000 |
Net Carrying Value | 79,868,000 | 78,853,000 |
Marketing-related intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 72,100,000 | 71,900,000 |
Accumulated Amortization | -8,900,000 | -7,500,000 |
Impairment | -16,900,000 | -16,900,000 |
Net Carrying Value | 46,300,000 | 47,500,000 |
Other acquired intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 17,800,000 | 12,000,000 |
Accumulated Amortization | -7,900,000 | -6,700,000 |
Impairment | -1,200,000 | -1,200,000 |
Net Carrying Value | 8,700,000 | 4,100,000 |
Amortizable [Member] | Marketing-related intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 12,500,000 | 12,300,000 |
Accumulated Amortization | -8,900,000 | -7,500,000 |
Impairment | 0 | 0 |
Net Carrying Value | 3,600,000 | 4,800,000 |
Amortizable [Member] | Customer-related intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 42,800,000 | 42,700,000 |
Accumulated Amortization | -17,900,000 | -15,400,000 |
Impairment | 0 | 0 |
Net Carrying Value | 24,900,000 | 27,300,000 |
Amortizable [Member] | Other acquired intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 16,600,000 | 10,800,000 |
Accumulated Amortization | -7,900,000 | -6,700,000 |
Impairment | 0 | 0 |
Net Carrying Value | 8,700,000 | 4,100,000 |
Nonamortizable [Member] | Marketing-related intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 59,600,000 | 59,600,000 |
Accumulated Amortization | 0 | 0 |
Impairment | -16,900,000 | -16,900,000 |
Net Carrying Value | 42,700,000 | 42,700,000 |
Nonamortizable [Member] | Other acquired intangible assets [Member] | ' | ' |
Acquired Indefinite-lived Intangible Assets [Line Items] | ' | ' |
Gross | 1,200,000 | 1,200,000 |
Accumulated Amortization | 0 | 0 |
Impairment | -1,200,000 | -1,200,000 |
Net Carrying Value | $0 | $0 |
Other_Intangible_Assets_Additi
Other Intangible Assets - Additional Information (Detail) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Dec. 29, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | |
Marketing-related intangible assets [Member] | Marketing-related intangible assets [Member] | Customer-related intangible assets [Member] | Other acquired intangible assets [Member] | Other acquired intangible assets [Member] | Minimum [Member] | Maximum [Member] | ||||
FourStar Microbial [Member] | FourStar Microbial [Member] | |||||||||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets acquired | ' | ' | ' | ' | $100,000 | ' | ' | $7,000,000 | ' | ' |
Indefinite-lived intangibles assets, impairment charge | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining lives of acquired intangible assets | ' | ' | ' | '6 years | ' | '15 years | '15 years | ' | '1 year | '25 years |
Amortization expense for intangibles | 5,100,000 | 5,600,000 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' |
Estimated annual amortization expense related to acquired intangible assets, 2014 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated annual amortization expense related to acquired intangible assets, 2015 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated annual amortization expense related to acquired intangible assets, 2016 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated annual amortization expense related to acquired intangible assets, 2017 | 5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated annual amortization expense related to acquired intangible assets, 2018 | $5,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Components_of_Lo
Long-Term Debt - Components of Long-Term Debt (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 | Mar. 08, 2010 |
In Thousands, unless otherwise specified | |||
Components of long-term debt | ' | ' | ' |
Total | $472,587 | $449,814 | ' |
Less current portion | -142 | -331 | ' |
Long-term portion | 472,445 | 449,483 | ' |
Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | ' | ' | ' |
Components of long-term debt | ' | ' | ' |
Total | 449,417 | 449,312 | 400,000 |
Revolving credit facility, interest at Alternate Base Rate plus a margin [Member] | ' | ' | ' |
Components of long-term debt | ' | ' | ' |
Total | 23,000 | 0 | ' |
Other notes payable [Member] | ' | ' | ' |
Components of long-term debt | ' | ' | ' |
Total | $170 | $502 | ' |
LongTerm_Debt_Components_of_Lo1
Long-Term Debt - Components of Long-Term Debt (Parenthetical) (Detail) (USD $) | 12 Months Ended | 12 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 28, 2013 | Mar. 08, 2010 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 |
Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Option Two [Member] | Option Two [Member] | Option One [Member] | Option One [Member] | |||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||
Components of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument interest rate stated, percentage | ' | ' | 8.25% | 8.25% | ' | ' | ' | ' |
Applicable interest rate on the Credit Facility | 5.00% | ' | ' | ' | 1.75% | 2.75% | 0.75% | 1.75% |
Unamortized original issue discount | $583 | $688 | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||
Aug. 01, 2013 | Jun. 30, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Jun. 08, 2011 | Jun. 08, 2011 | Sep. 28, 2013 | Jun. 08, 2011 | Sep. 28, 2013 | Aug. 01, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Dec. 05, 2013 | Feb. 13, 2012 | Mar. 08, 2010 | Sep. 28, 2013 | Sep. 29, 2012 | Feb. 13, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | |
Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Old Credit Facility [Member] | Old Credit Facility [Member] | Old Credit Facility [Member] | Financial covenants [Member] | LIBOR [Member] | March 2014 [Member] | March 2015 [Member] | March 2016 [Member] | Subsequent Event [Member] | Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | Senior subordinated notes [Member] | Senior subordinated notes [Member] | Senior subordinated notes [Member] | ||||||
Minimum [Member] | Maximum [Member] | Asset Backed Loan Facility [Member] | Old Credit Facility [Member] | Portion at Fair Value, Fair Value Disclosure [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | |||||||||||||||||||||
Components of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility | ' | ' | ' | ' | $275,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior Credit Facility maturity period | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowing capacity | ' | ' | 375,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility, maturity date | ' | ' | ' | ' | '2016-06 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum interest coverage ratio | 2.5 | ' | ' | ' | ' | ' | ' | ' | ' | 2.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum asset coverage ratio | 1.1 | ' | 14.7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, principal amount | ' | ' | 23,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 390,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Letters of credit outstanding | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other letters of credit outstanding | ' | ' | 17,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unused commitments under the Credit Facility | ' | ' | 351,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 168,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt interest terms | ' | ' | 'Interest on the Old Credit Facility was based, at the Company's option, on a rate equal to the Alternate Base Rate (ABR), which is the greatest of the prime rate, the Federal Funds rate plus 0.5% or one month LIBOR plus 1%, plus a margin, which fluctuates from 0.75% to 1.75%, or LIBOR plus a margin, which fluctuates from 1.75% to 2.75% and commitment fees that range from 0.30% to 0.50%, determined quarterly based on consolidated total debt to consolidated EBITDA for the most recent trailing 12-month period. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility, Alternate Base Rate computation, option first description | ' | ' | ' | ' | 'prime rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility, alternate base rate computation, option second description | ' | ' | ' | ' | 'Federal Funds rate plus 0.5% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility, Alternate Base Rate computation, option second description, basis spread percentage | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility basis percentage for calculation of variable rate spread | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility, alternate base rate computation, option third description | ' | ' | ' | ' | 'One month LIBOR plus 1%, plus a margin, | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Old Credit Facility alternate base rate computation option three | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fees range | ' | ' | ' | ' | ' | 0.30% | ' | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Applicable interest rate on the Credit Facility | ' | ' | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum restricted payments including cash dividends and stock repurchases under Credit Agreement | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Leverage Ratio | ' | ' | ' | ' | ' | ' | 1 | ' | 4.9 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Present Senior Secured Leverage Ratio | ' | ' | ' | ' | ' | ' | 1 | ' | 2 | ' | 0.3 | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest coverage ratio | ' | ' | 2.35 | ' | ' | ' | 2.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, additional borrowings available | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Facility, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5-Dec-18 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt, aggregate principal amount | ' | ' | 472,587,000 | 449,814,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000,000 | 449,417,000 | 449,312,000 | ' | ' | ' | ' |
Debt instrument interest rate stated, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.25% | 8.25% | ' | ' | 8.25% | ' | ' |
Senior subordinated notes due date | ' | ' | 1-Jun-18 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Mar-18 | 1-Mar-18 | ' | ' | ' | ' | ' |
Additional issuance amount on senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000,000 | ' | ' | ' |
Notes issue price percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98.50% | ' | ' | ' | ' | ' | ' | ' |
Issuance price of additional senior subordinated notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2018 Notes at a price of 98.501%, plus accrued interest from September 1, 2011, in a private placement. | ' | ' | ' |
Obligation to pay principle on the company Senior Subordinates Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | ' | ' | 450,000,000 | ' | ' |
Senior subordinated notes due 2018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 449,500,000 | ' |
Carrying value of senior subordinated Notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $449,400,000 |
Notes redemption price percentage | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 104.13% | 102.06% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt redemption terms | ' | ' | 'The Company may redeem some or all of the 2018 Notes at any time prior to March 1, 2014 at the principal amount plus a "make whole" premium. The Company may redeem some or all of the 2018 Notes at any time on or after March 1, 2014 for 104.125%, after March 1, 2015 for 102.063% and after March 1, 2016 for 100%, plus accrued and unpaid interest. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Scheduled_Princi
Long-Term Debt - Scheduled Principal Repayments on Long-term Debt (Detail) (USD $) | Sep. 28, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2014 | $142 |
2015 | 26 |
2016 | 23,002 |
2017 | 0 |
2018 | 450,000 |
Thereafter | 0 |
Total | $473,170 |
LongTerm_Debt_Scheduled_Princi1
Long-Term Debt - Scheduled Principal Repayments on Long-term Debt (Parenthetical) (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
Unamortized portion of discount on Senior Subordinated Notes | $583 | $688 |
Commitments_and_Contingencies_1
Commitments and Contingencies - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Commitments And Contingencies Disclosure [Abstract] | ' | ' | ' |
Outstanding letters of credit | $17.50 | ' | ' |
Estimated annual purchase commitments for fiscal 2014 | 106.8 | ' | ' |
Estimated annual purchase commitments for fiscal 2015 | 48.8 | ' | ' |
Estimated annual purchase commitments for fiscal 2016 | 28.8 | ' | ' |
Estimated annual purchase commitments for fiscal 2017 | 16.1 | ' | ' |
Estimated annual purchase commitments for fiscal 2018 | 11.6 | ' | ' |
Estimated annual purchase commitments for thereafter | 6.6 | ' | ' |
Minimum operating lease agreement terms | '1 year | ' | ' |
Maximum operating lease agreement terms | '9 years | ' | ' |
Operating lease rental expense | $22.40 | $23.60 | $24.40 |
Commitments_and_Contingencies_2
Commitments and Contingencies - Aggregate Minimum Annual Payments on Non-Cancelable Operating Leases (Detail) (USD $) | Sep. 28, 2013 |
In Thousands, unless otherwise specified | |
Commitments And Contingencies Disclosure [Abstract] | ' |
2014 | $15,899 |
2015 | 12,011 |
2016 | 8,649 |
2017 | 6,041 |
2018 | 2,099 |
Thereafter | 1,723 |
Total | $46,422 |
Income_Taxes_Provision_for_Inc
Income Taxes - Provision for Income Tax Expense (Benefit) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Current: | ' | ' | ' |
Federal | $52 | ($1,003) | ($5,512) |
State | 958 | 603 | 160 |
Foreign | 0 | 35 | 35 |
Total | 1,010 | -365 | -5,317 |
Deferred: | ' | ' | ' |
Federal | -2,915 | 12,671 | 22,667 |
State | -687 | 198 | 1,214 |
Foreign | 0 | 312 | 1,031 |
Total | -3,602 | 13,181 | 24,912 |
Total | ($2,592) | $12,816 | $19,595 |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of the Statutory Federal Income Tax Rate to the Company's Effective Income Tax Rate (Detail) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Statutory federal income tax rate | -35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | -5.20% | 2.30% | 2.80% |
Other permanent differences | 2.40% | 0.60% | 1.40% |
Adjustment of prior year accruals | 1.80% | 0.20% | 1.20% |
Uncertain tax positions | 3.70% | 0.00% | -0.30% |
Credits | -29.30% | -1.20% | -2.90% |
Change in valuation allowances | -9.00% | -0.10% | 3.20% |
Foreign rate differential | -3.60% | -0.10% | 0.40% |
Effective income tax rate (benefit) | -74.20% | 36.70% | 40.80% |
Income_Taxes_Tax_Effect_of_Tem
Income Taxes - Tax Effect of Temporary Differences and Carryforwards which Give Rise to Deferred Tax Assets and Liabilities (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 |
In Thousands, unless otherwise specified | ||
Current: | ' | ' |
Allowance for doubtful accounts, Deferred Tax Assets | $7,758 | $6,741 |
Inventory write-downs, Deferred Tax Assets | 14,983 | 10,411 |
Prepaid expenses, Deferred Tax Assets | 620 | 112 |
Nondeductible reserves, Deferred Tax Assets | 2,782 | 997 |
State taxes, Deferred Tax Assets | 0 | 0 |
Employee benefits, Deferred Tax Assets | 6,062 | 5,885 |
Other, Deferred Tax Assets | 3,012 | 3,509 |
Total, Current Deferred Tax Assets | 35,218 | 27,655 |
Noncurrent: | ' | ' |
Depreciation and amortization, Deferred Tax Assets | 0 | 0 |
Equity income, Deferred Tax Assets | 0 | 0 |
State net operating loss carryforward, Deferred Tax Assets | 4,816 | 4,160 |
Stock based compensation, Deferred Tax Assets | 6,061 | 5,225 |
State credits, Deferred Tax Assets | 2,421 | 2,241 |
Other, Deferred Tax Assets | 5,349 | 2,866 |
Valuation allowance, Deferred Tax Assets | -6,968 | -7,282 |
Total, Noncurrent Deferred Tax Assets | 11,679 | 7,210 |
Total, Deferred Tax Assets | 46,897 | 34,865 |
Allowance for doubtful accounts, Deferred Tax Liabilities | 0 | 0 |
Inventory write-downs, Deferred Tax Liabilities | 0 | 0 |
Prepaid expenses, Deferred Tax Liabilities | 0 | 0 |
Nondeductible reserves, Deferred Tax Liabilities | 0 | 0 |
State taxes, Deferred Tax Liabilities | 188 | 245 |
Employee benefits, Deferred Tax Liabilities | 0 | 0 |
Other, Deferred Tax Liabilities | 0 | 0 |
Total, Current Deferred Tax Liabilities | 188 | 245 |
Depreciation and amortization, Deferred Tax Liabilities | 39,100 | 30,358 |
Equity income, Deferred Tax Liabilities | 393 | 280 |
State net operating loss carryforward, Deferred Tax Liabilities | 0 | 0 |
Stock based compensation, Deferred Tax Liabilities | 0 | 0 |
State credits, Deferred Tax Liabilities | 0 | 0 |
Other, Deferred Tax Liabilities | 0 | 0 |
Valuation allowance, Deferred Tax Liabilities | 0 | 0 |
Total, Noncurrent Deferred Tax Liabilities | 39,493 | 30,638 |
Total, Deferred Tax Liabilities | $39,681 | $30,883 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 12 Months Ended | |
Sep. 28, 2013 | Sep. 29, 2012 | |
Schedule Of Income Taxes [Line Items] | ' | ' |
State tax net operating losses | $94,900,000 | ' |
Foreign losses | 2,400,000 | ' |
Federal income tax credits | 1,400,000 | ' |
State income tax credits | 3,700,000 | ' |
Valuation allowances | 6,968,000 | 7,282,000 |
Period of uncertain tax positions as non-current income tax liabilities unless expected to be paid | '1 year | ' |
Penalties were accrued related to uncertain tax positions | 0 | 0 |
Unrecognized tax benefit may be recognized within twelve months as a result of a settlement | 400,000 | ' |
Maximum [Member] | ' | ' |
Schedule Of Income Taxes [Line Items] | ' | ' |
State tax net operating losses expiration year | '2033 | ' |
Federal income tax credits expiration year | '2033 | ' |
State income tax credits expiration year | '2029 | ' |
Accrued interest | $100,000 | $100,000 |
Minimum [Member] | ' | ' |
Schedule Of Income Taxes [Line Items] | ' | ' |
State tax net operating losses expiration year | '2013 | ' |
Federal income tax credits expiration year | '2023 | ' |
State income tax credits expiration year | '2013 | ' |
Income_Taxes_Activity_Related_
Income Taxes - Activity Related to Company's Unrecognized Tax Benefits (Detail) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 |
Income Tax Disclosure [Abstract] | ' | ' |
Beginning Balance | $262 | $282 |
Increases related to prior year tax positions | 247 | 1 |
Increases related to current year tax positions | 60 | 16 |
Settlements | -202 | -37 |
Decreases related to lapse of statute of limitations | -3 | ' |
Ending Balance | $364 | $262 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||
In Millions, except Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 27, 2008 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Feb. 28, 2005 | Sep. 28, 2013 | Feb. 28, 2012 | Feb. 28, 2009 | Sep. 28, 2013 | Feb. 28, 2009 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 28, 2013 |
Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Stock Options [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | Selling, General and Administrative Expenses [Member] | 2003 Plan [Member] | 2003 Plan [Member] | 2003 Plan [Member] | 2003 Plan [Member] | 2003 Plan [Member] | 2003 Plan [Member] | 2003 Plan [Member] | 2003 Plan [Member] | Director Plan [Member] | Director Plan [Member] | ||
Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Four Hundred One Plan (K) [Member] | Four Hundred One Plan (K) [Member] | Four Hundred One Plan (K) [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Restricted Stock Awards [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation, number of shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,800,000 | 2,500,000 | ' | ' | 19,734,982 | ' | 500,000 | 5,800,000 | ' | ' |
Increase authorized shares for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,300,000 | ' | 5,000,000 | 5,000,000 | 9,734,982 | 500,000 | ' | ' | ' | ' |
Granting of options | 2,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' |
Number of shares of restricted stock | ' | 552,000 | 159,000 | 496,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 |
Shares reserved for outstanding equity awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,400,000 | ' | 0 | 3,100,000 | ' | ' |
Shares reserved for future awards | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | 500,000 | 1,900,000 | ' | ' |
Share-based compensation expense | ' | ' | ' | ' | ' | $15.90 | $7.50 | $7.40 | $11.20 | $1.70 | $2.40 | $2.70 | $3.80 | $3.10 | $2 | $2 | $1.90 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options exercisable | ' | ' | ' | ' | '30 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation arrangement by share based payment award expiration period | ' | ' | ' | ' | '42 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation arrangement by share based payment incremental percentage of vesting beginning from two years of grant | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation arrangement by share based payment incremental percentage of vesting beginning from three years of grant | ' | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share based compensation arrangement by share based payment incremental percentage of vesting beginning from four years of grant | ' | ' | ' | ' | 33.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Additi1
Stock-Based Compensation - Additional Information 1 (Detail) (USD $) | 1 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||
Mar. 31, 2012 | Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 24, 2011 | Sep. 25, 2010 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 25, 2010 | Sep. 28, 2013 | |
Employees | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | Restricted Stock Awards [Member] | 2003 Plan [Member] | ||
Installment | Stock Options [Member] | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options contingently vest up to five years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% |
Options contractual lives | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years |
Shares granted above the market price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,400,000 |
Options schedule to possibly vest | ' | ' | 216,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of options granted and eligible to vest | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' |
Cumulative percentage of options vested that were eligible to vest | ' | ' | ' | ' | ' | 97.00% | 99.00% | ' | ' | ' | ' | ' |
Number of affected employees | 250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recorded additional compensation cost | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unvested options | ' | 6,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options subject to performance based vesting criteria | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of vesting installments | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expiration period approximately | ' | ' | '6 years | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected life of option award | ' | ' | '3 years 6 months | '3 years 6 months | '3 years 6 months | ' | ' | ' | ' | ' | ' | ' |
Stock price volatility | ' | ' | 34.80% | 37.90% | 36.40% | ' | ' | ' | ' | ' | ' | ' |
Risk free interest rates | ' | ' | 1.20% | 0.90% | 2.20% | ' | ' | ' | ' | ' | ' | ' |
Dividend during expected term | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average grant date fair value of options granted | ' | ' | $1.72 | $2.72 | $2.04 | ' | ' | ' | ' | ' | ' | ' |
Total intrinsic value of options exercised | ' | ' | 1,100,000 | 5,100,000 | 2,600,000 | ' | ' | ' | ' | ' | ' | ' |
Total unrecognized compensation cost related to nonvested stock options | ' | ' | 8,000,000 | ' | ' | ' | ' | 4,400,000 | ' | ' | ' | ' |
Nonvested stock options remaining weighted average vesting period | ' | ' | '2 years | ' | ' | ' | ' | '2 years | ' | ' | ' | ' |
Restricted stock awards outstanding, shares | ' | ' | ' | ' | ' | ' | ' | 894,000 | 785,000 | 804,000 | 432,000 | ' |
Restricted stock awards generally vest percentage in increments | ' | ' | ' | ' | ' | ' | ' | 33.33% | ' | ' | ' | ' |
Share based payment award vesting period description | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' |
Share based payment award vesting conditional period of employment | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' |
Bonus earned in vested shares | ' | ' | ' | ' | ' | ' | ' | 4,400,000 | ' | ' | ' | ' |
Share based payment award, shares granted and vested | ' | ' | ' | ' | ' | ' | ' | 290,000 | ' | ' | ' | ' |
Granted, Weighted Average Grant Date Fair Value per Share | ' | ' | ' | ' | ' | ' | ' | $9.26 | $9.16 | $9.32 | ' | ' |
Aggregate fair value as of the vesting date of restricted shares | ' | ' | ' | ' | ' | ' | ' | $3,400,000 | $900,000 | $1,100,000 | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Stock Option Activity (Detail) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' |
Beginning Balance, Outstanding, Number of Shares | 11,638 | ' | ' |
Granted, Number of Shares | 2,000 | ' | ' |
Exercised, Number of Shares | -285 | ' | ' |
Cancelled or expired, Number of Shares | -782 | ' | ' |
Ending Balance, Outstanding, Number of Shares | 12,571 | 11,638 | ' |
Exercisable, Number of Shares | 6,409 | 4,601 | 4,162 |
Expected to vest, Number of Shares | 5,388 | ' | ' |
Beginning Balance, Outstanding, Weighted Average Exercise Price per share | $10.73 | ' | ' |
Granted, Weighted Average Exercise Price per share | $8.40 | ' | ' |
Exercised, Weighted Average Exercise Price per share | $5.35 | ' | ' |
Cancelled or expired, Weighted Average Exercise Price per share | $9.24 | ' | ' |
Ending Balance, Outstanding, Weighted Average Exercise Price per share | $10.57 | $10.73 | ' |
Exercised, Weighted Average Exercise Price per share | $11.21 | $11.34 | $11.32 |
Expected to vest, Weighted Average Exercise Price per share | $9.90 | ' | ' |
Beginning Balance, Outstanding, Weighted Average Remaining Contractual Life | '3 years | '3 years | ' |
Exercisable, Weighted Average Remaining Contractual Life | '2 years | '2 years | '3 years |
Expected to vest, Weighted Average Remaining Contractual Life | '4 years | ' | ' |
Beginning Balance, Outstanding, Aggregate Intrinsic Value | $22,172 | ' | ' |
Ending Balance, Outstanding, Aggregate Intrinsic Value | 1,166 | 22,172 | ' |
Exercisable, Aggregate Intrinsic Value | 770 | 6,708 | 1,139 |
Expected to Vest, Aggregate Intrinsic Value | $347 | ' | ' |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Restricted Stock Award Activity (Detail) (Restricted Stock Awards [Member], USD $) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Restricted Stock Awards [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Beginning Balance, Nonvested, Number of Shares | 785,000 | 804,000 | 432,000 |
Granted, Number of Shares | 552,000 | 159,000 | 496,000 |
Vested, Number of Shares | -354,000 | -98,000 | -120,000 |
Forfeited, Number of Shares | -89,000 | -80,000 | -4,000 |
Ending Balance, Nonvested, Number of Shares | 894,000 | 785,000 | 804,000 |
Beginning Balance, Nonvested, Weighted Average Grant Date Fair Value per Share | $9.53 | $9.79 | $10.60 |
Granted, Weighted Average Grant Date Fair Value per Share | $9.26 | $9.16 | $9.32 |
Vested, Weighted Average Grant Date Fair Value per Share | $9.60 | $12.12 | $12.38 |
Forfeited, Weighted Average Grant Date Fair Value per Share | $9.37 | $8.32 | $13 |
Ending Balance, Nonvested, Weighted Average Grant Date Fair Value per Share | $9.35 | $9.53 | $9.79 |
Shareholders_Equity_Additional
Shareholders' Equity - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Jun. 25, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Repurchase of common stock | ' | $1,503,000 | $20,884,000 | $108,672,000 |
Class B Stock [Member] | ' | ' | ' | ' |
Common stock authorized | ' | 3,000,000 | 3,000,000 | ' |
Common stock, par value | ' | $0.01 | $0.01 | ' |
Common stock, shares outstanding | ' | 1,652,262 | 1,652,262 | ' |
Percentage of vote cast for shares | ' | 49.00% | ' | ' |
Convertible shares conversion ratio | ' | 1 | ' | ' |
Repurchase of common stock, shares | ' | 0 | 0 | 0 |
Repurchase of common stock | ' | 0 | 0 | 0 |
Common Stock [Member] | ' | ' | ' | ' |
Common stock authorized | ' | 80,000,000 | ' | ' |
Common stock, par value | ' | $0.01 | ' | ' |
Common stock, shares outstanding | ' | 12,246,751 | ' | ' |
Authorized amount to repurchase stock | 100,000,000 | 100,000,000 | ' | ' |
Repurchase of common stock, shares | ' | 0 | 692,300 | 3,317,645 |
Repurchase of common stock | ' | 0 | 7,000 | 33,000 |
Aggregate stock repurchased shares | ' | 6,300,000 | ' | ' |
Aggregate stock repurchased value | ' | 49,900,000 | ' | ' |
Class A Common Stock [Member] | ' | ' | ' | ' |
Common stock authorized | ' | 100,000,000 | ' | ' |
Common stock, par value | ' | $0.01 | ' | ' |
Common stock, shares outstanding | ' | 35,291,001 | ' | ' |
Repurchase of common stock, shares | ' | 165,900 | 1,904,700 | 8,646,258 |
Repurchase of common stock | ' | $1,000 | $19,000 | $86,000 |
Maximum [Member] | Class B Stock [Member] | ' | ' | ' | ' |
Number of voting powers | ' | 10 | ' | ' |
Minimum [Member] | Class B Stock [Member] | ' | ' | ' | ' |
Number of voting powers | ' | 1 | ' | ' |
Earnings_Per_Share_Numerators_
Earnings Per Share - Numerators and Denominators in Basic and Diluted Per Share (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 23, 2012 | Mar. 24, 2012 | Dec. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Basic EPS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) available to common shareholders, Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ($1,929) | $21,173 | $28,323 |
Net income (loss) available to common shareholders, Shares | 48,264 | 48,173 | 48,064 | 47,871 | 47,704 | 47,661 | 47,343 | 47,823 | 48,094 | 47,622 | 56,217 |
Net income (loss) available to common shareholders, Per Share | ($0.47) | $0.28 | $0.46 | ($0.32) | ($0.21) | $0.48 | $0.46 | ($0.27) | ($0.04) | $0.44 | $0.50 |
Effect of dilutive securities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options to purchase common stock, Shares | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 497 | 274 |
Options to purchase common stock, Per Share | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 |
Restricted shares, Shares | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 255 | 154 |
Restricted shares, Per Share | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $0 | $0 |
Diluted EPS: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income (loss) available to common shareholders, Net Income | ' | ' | ' | ' | ' | ' | ' | ' | ($1,929) | $21,173 | $28,323 |
Net income (loss) available to common shareholders, Shares | 48,264 | 48,822 | 48,740 | 47,871 | 47,704 | 48,388 | 48,036 | 47,823 | 48,094 | 48,374 | 56,645 |
Net income (loss) available to common shareholders, Per Share | ($0.47) | $0.28 | $0.46 | ($0.32) | ($0.21) | $0.47 | $0.45 | ($0.27) | ($0.04) | $0.44 | $0.50 |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Common stock outstanding, included in computation of diluted EPS | 12,571,000 | 11,638,000 | ' |
Stock Options [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Common stock outstanding, not included in computation of diluted EPS | 10,400,000 | 6,100,000 | 8,400,000 |
Stock Options [Member] | Minimum [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Outstanding options to purchase common stock | 4.6 | 4.6 | 4.6 |
Stock Options [Member] | Maximum [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Outstanding options to purchase common stock | 16.23 | 16.23 | 17.99 |
Stock Options [Member] | Class A Common Stock [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Common stock outstanding, included in computation of diluted EPS | 12,600,000 | 11,600,000 | 12,100,000 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data - Unaudited - Schedule of Quarterly Financial Data - Unaudited (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 23, 2012 | Mar. 24, 2012 | Dec. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $368,837 | $494,130 | $498,169 | $292,497 | $397,236 | $533,808 | $466,903 | $302,066 | $1,653,633 | $1,700,013 | $1,628,652 |
Gross profit | 81,307 | 152,466 | 153,170 | 76,959 | 105,072 | 180,652 | 147,696 | 80,738 | 463,902 | 514,158 | 493,919 |
Net income (loss) attributable to Central Garden & Pet Company | ($22,581) | $13,725 | $22,196 | ($15,269) | ($10,059) | $22,699 | $21,623 | ($13,090) | ($1,929) | $21,173 | $28,323 |
Net income (loss) per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ($0.47) | $0.28 | $0.46 | ($0.32) | ($0.21) | $0.48 | $0.46 | ($0.27) | ($0.04) | $0.44 | $0.50 |
Diluted | ($0.47) | $0.28 | $0.46 | ($0.32) | ($0.21) | $0.47 | $0.45 | ($0.27) | ($0.04) | $0.44 | $0.50 |
Weighted average common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | 48,264 | 48,173 | 48,064 | 47,871 | 47,704 | 47,661 | 47,343 | 47,823 | 48,094 | 47,622 | 56,217 |
Diluted | 48,264 | 48,822 | 48,740 | 47,871 | 47,704 | 48,388 | 48,036 | 47,823 | 48,094 | 48,374 | 56,645 |
Quarterly_Financial_Data_Unaud3
Quarterly Financial Data - Unaudited - Schedule of Quarterly Financial Data - Unaudited (Parenthetical) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Quarterly Financial Information Disclosure [Abstract] | ' | ' | ' | ' |
Goodwill impairment | $7,709,000 | $7,709,000 | $0 | $0 |
Charge related to new products | $11,200,000 | $11,200,000 | ' | ' |
Transactions_with_Related_Part1
Transactions with Related Parties - Additional Information (Detail) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Contract Packaging, Inc. [Member] | ' | ' | ' |
Schedule of Other Related Party Transactions [Line Items] | ' | ' | ' |
Percentage of shares held by CPI in Tech Pac | 20.00% | 20.00% | 20.00% |
Amount due to related party | $0.50 | $2.10 | ' |
Contract Packaging, Inc. [Member] | Tech Pac [Member] | ' | ' | ' |
Schedule of Other Related Party Transactions [Line Items] | ' | ' | ' |
Purchases products from related party | 32.5 | 39.3 | 33.2 |
Bio Plus, Inc. [Member] | ' | ' | ' |
Schedule of Other Related Party Transactions [Line Items] | ' | ' | ' |
Purchases products from related party | $1 | $1 | 0.9 |
Business_Segment_Data_Addition
Business Segment Data - Additional Information (Detail) | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Concentration Risk [Line Items] | ' | ' | ' |
Number of operating segments | 2 | ' | ' |
Customer One [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 16.00% | 17.00% | 16.00% |
Customer Two [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 8.00% | 7.00% | 7.00% |
Customer Three [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 8.00% | 9.00% | 12.00% |
Sales [Member] | Customer One [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 16.00% | 17.00% | 16.00% |
Sales [Member] | Customer One [Member] | Operating Segments [Member] | Garden Segment [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 30.00% | 30.00% | 28.00% |
Sales [Member] | Customer Two [Member] | Operating Segments [Member] | Garden Segment [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 18.00% | 16.00% | 15.00% |
Sales [Member] | Customer Two [Member] | Operating Segments [Member] | Pet Segment [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 11.00% | 12.00% | 12.00% |
Sales [Member] | Customer Three [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 8.00% | 9.00% | 12.00% |
Sales [Member] | Customer Three [Member] | Operating Segments [Member] | Garden Segment [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Customer represented percentage of total company net sales | 17.00% | 20.00% | 24.00% |
Business_Segment_Data_Class_of
Business Segment Data - Class of Similar Products Which Represented More than 10% of Company's Consolidated Net Sales (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 23, 2012 | Mar. 24, 2012 | Dec. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $368,837 | $494,130 | $498,169 | $292,497 | $397,236 | $533,808 | $466,903 | $302,066 | $1,653,633 | $1,700,013 | $1,628,652 |
Pet supplies (excluding wild bird feed) [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 807,400 | 847,100 | 773,100 |
Garden controls and fertilizer products [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 274,900 | 281,700 | 260,000 |
Wild bird feed [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 210,800 | 205,100 | 197,500 |
Other garden supplies [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 183,500 | 185,700 | 212,100 |
Grass seed [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue from External Customer [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | $177,000 | $180,400 | $185,900 |
Business_Segment_Data_Financia
Business Segment Data - Financial Information Relating to Company's Business Segments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 23, 2012 | Mar. 24, 2012 | Dec. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Net sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $368,837 | $494,130 | $498,169 | $292,497 | $397,236 | $533,808 | $466,903 | $302,066 | $1,653,633 | $1,700,013 | $1,628,652 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 40,155 | 74,421 | 85,175 |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -43,112 | -40,315 | -38,044 |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 142 | 145 | 296 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -677 | 678 | 550 |
Income (loss) before income taxes and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,492 | 34,929 | 47,977 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -2,592 | 12,816 | 19,595 |
Net income (loss) including noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -900 | 22,113 | 28,382 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1,029 | 940 | 59 |
Net income (loss) attributable to Central Garden & Pet Company | -22,581 | 13,725 | 22,196 | -15,269 | -10,059 | 22,699 | 21,623 | -13,090 | -1,929 | 21,173 | 28,323 |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 1,161,160 | ' | ' | ' | 1,149,547 | ' | ' | ' | 1,161,160 | 1,149,547 | 1,093,003 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 32,968 | 30,425 | 28,566 |
Expenditures for long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 25,172 | 39,592 | 31,563 |
Operating Segments [Member] | Pet Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 888,228 | 930,753 | 851,307 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 95,451 | 87,650 | 77,623 |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 425,988 | ' | ' | ' | 411,059 | ' | ' | ' | 425,988 | 411,059 | 396,637 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 15,753 | 14,507 | 14,479 |
Expenditures for long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 9,694 | 15,540 | 9,953 |
Operating Segments [Member] | Garden Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 765,405 | 769,260 | 777,345 |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,376 | 50,013 |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 388,581 | ' | ' | ' | 341,716 | ' | ' | ' | 388,581 | 341,716 | 350,234 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6,410 | 6,213 | 5,986 |
Expenditures for long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | 7,496 | 4,138 | 5,902 |
Corporate, Non-Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income (loss) from operations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | -63,582 | -53,605 | -42,461 |
Assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 346,591 | ' | ' | ' | 396,772 | ' | ' | ' | 346,591 | 396,772 | 346,132 |
Depreciation and amortization: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 10,805 | 9,705 | 8,101 |
Expenditures for long-lived assets: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expenditures for long-lived assets | ' | ' | ' | ' | ' | ' | ' | ' | $7,982 | $19,914 | $15,708 |
Business_Segment_Data_Financia1
Business Segment Data - Financial Information Relating to Company's Business Segments (Parenthetical) (Detail) (USD $) | 3 Months Ended | 12 Months Ended | ||
Sep. 28, 2013 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | |
Segment Reporting [Abstract] | ' | ' | ' | ' |
Goodwill impairment | $7,709,000 | $7,709,000 | $0 | $0 |
Charge related to new products | $11,200,000 | $11,200,000 | ' | ' |
Consolidating_Condensed_Financ2
Consolidating Condensed Financial Information of Guarantor Subsidiaries - Additional Information (Detail) (USD $) | 1 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 08, 2010 | Sep. 28, 2013 |
Debt Instrument [Line Items] | ' | ' |
Collective ownership percentage on guarantor subsidiaries | ' | 100.00% |
Senior subordinated notes due date | ' | 1-Jun-18 |
Senior subordinated notes, net of unamortized discount, interest at 8.25%, payable semi-annually, principal due March 2018 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Obligation to pay principal on the company's senior subordinated notes | ' | $450 |
Senior subordinated notes, percentage | 8.25% | 8.25% |
Senior subordinated notes due date | 1-Mar-18 | 1-Mar-18 |
Consolidating_Condensed_Financ3
Consolidating Condensed Financial Information of Guarantor Subsidiaries - Condensed Statement of Operations Based on Company's Understanding of SEC's Interpretation (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 30, 2013 | Dec. 29, 2012 | Sep. 29, 2012 | Jun. 23, 2012 | Mar. 24, 2012 | Dec. 24, 2011 | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | $368,837 | $494,130 | $498,169 | $292,497 | $397,236 | $533,808 | $466,903 | $302,066 | $1,653,633 | $1,700,013 | $1,628,652 |
Cost of goods sold and occupancy | ' | ' | ' | ' | ' | ' | ' | ' | 1,189,731 | 1,185,855 | 1,134,733 |
Gross profit | 81,307 | 152,466 | 153,170 | 76,959 | 105,072 | 180,652 | 147,696 | 80,738 | 463,902 | 514,158 | 493,919 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 416,038 | 439,737 | 408,744 |
Goodwill impairment | 7,709 | ' | ' | ' | ' | ' | ' | ' | 7,709 | 0 | 0 |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 40,155 | 74,421 | 85,175 |
Interest - net | ' | ' | ' | ' | ' | ' | ' | ' | -42,970 | -40,170 | -37,748 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -677 | 678 | 550 |
Income (loss) before income taxes and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -3,492 | 34,929 | 47,977 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -2,592 | 12,816 | 19,595 |
Net income (loss) including noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -900 | 22,113 | 28,382 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1,029 | 940 | 59 |
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | -22,581 | 13,725 | 22,196 | -15,269 | -10,059 | 22,699 | 21,623 | -13,090 | -1,929 | 21,173 | 28,323 |
Equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income attributable to Central Garden & Pet Company | ' | ' | ' | ' | ' | ' | ' | ' | -1,929 | 21,173 | 28,323 |
Parent [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 502,311 | 527,901 | 500,668 |
Cost of goods sold and occupancy | ' | ' | ' | ' | ' | ' | ' | ' | 402,801 | 383,990 | 374,215 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 99,510 | 143,911 | 126,453 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 141,447 | 144,171 | 132,974 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | -41,937 | -260 | -6,521 |
Interest - net | ' | ' | ' | ' | ' | ' | ' | ' | -43,047 | -40,324 | -37,984 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | -3,791 | -3,764 | -236 |
Income (loss) before income taxes and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -88,775 | -44,348 | -44,741 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | -47,803 | -15,698 | -17,299 |
Net income (loss) including noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | -40,972 | -28,650 | -27,442 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 1,029 | 940 | 59 |
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -42,001 | -29,590 | -27,501 |
Equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 40,072 | 50,763 | 55,824 |
Net income attributable to Central Garden & Pet Company | ' | ' | ' | ' | ' | ' | ' | ' | -1,929 | 21,173 | 28,323 |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | 1,198,672 | 1,244,430 | 1,244,207 |
Cost of goods sold and occupancy | ' | ' | ' | ' | ' | ' | ' | ' | 834,280 | 874,183 | 876,741 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 364,392 | 370,247 | 367,466 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 274,591 | 295,566 | 275,770 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 7,709 | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 82,092 | 74,681 | 91,696 |
Interest - net | ' | ' | ' | ' | ' | ' | ' | ' | 77 | 154 | 236 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 3,114 | 4,442 | 786 |
Income (loss) before income taxes and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 85,283 | 79,277 | 92,718 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 45,211 | 28,514 | 36,894 |
Net income (loss) including noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 40,072 | 50,763 | 55,824 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 40,072 | 50,763 | 55,824 |
Equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income attributable to Central Garden & Pet Company | ' | ' | ' | ' | ' | ' | ' | ' | 40,072 | 50,763 | 55,824 |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net sales | ' | ' | ' | ' | ' | ' | ' | ' | -47,350 | -72,318 | -116,223 |
Cost of goods sold and occupancy | ' | ' | ' | ' | ' | ' | ' | ' | -47,350 | -72,318 | -116,223 |
Gross profit | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Goodwill impairment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Interest - net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Other income (expense) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income (loss) before income taxes and noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Income tax expense (benefit) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) including noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income attributable to noncontrolling interest | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Net income (loss) attributable to Central Garden & Pet Company before equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 |
Equity in undistributed income of guarantor subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -40,072 | -50,763 | -55,824 |
Net income attributable to Central Garden & Pet Company | ' | ' | ' | ' | ' | ' | ' | ' | ($40,072) | ($50,763) | ($55,824) |
Consolidating_Condensed_Financ4
Consolidating Condensed Financial Information of Guarantor Subsidiaries - Consolidating Condensed Statements of Comprehensive Income (Loss) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net income (loss) | ($900) | $22,113 | $28,382 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation | -97 | 520 | 75 |
Total comprehensive income (loss) | -997 | 22,633 | 28,457 |
Comprehensive income attributable to noncontrolling interests | 1,029 | 940 | 59 |
Comprehensive income (loss) attributable to Central Garden & Pet Company | -2,026 | 21,693 | 28,398 |
Parent [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net income (loss) | -40,972 | -28,650 | -27,442 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation | -97 | 520 | 75 |
Total comprehensive income (loss) | -41,069 | -28,130 | -27,367 |
Comprehensive income attributable to noncontrolling interests | 1,029 | 940 | 59 |
Comprehensive income (loss) attributable to Central Garden & Pet Company | -42,098 | -29,070 | -27,426 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net income (loss) | 40,072 | 50,763 | 55,824 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation | 0 | 0 | 0 |
Total comprehensive income (loss) | 40,072 | 50,763 | 55,824 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Central Garden & Pet Company | 40,072 | 50,763 | 55,824 |
Eliminations [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net income (loss) | 0 | 0 | 0 |
Other comprehensive income (loss): | ' | ' | ' |
Foreign currency translation | 0 | 0 | 0 |
Total comprehensive income (loss) | 0 | 0 | 0 |
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 |
Comprehensive income (loss) attributable to Central Garden & Pet Company | $0 | $0 | $0 |
Consolidating_Condensed_Financ5
Consolidating Condensed Financial Information of Guarantor Subsidiaries - Condensed Balance Sheet Based on Company's Understanding of SEC Interpretation (Detail) (USD $) | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 | Sep. 25, 2010 |
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | $15,156 | $48,475 | $12,031 | $91,460 |
Short term investments | 17,820 | 22,705 | ' | ' |
Accounts receivable, net | 194,260 | 202,422 | ' | ' |
Inventories | 391,934 | 330,032 | ' | ' |
Prepaid expenses and other assets | 53,484 | 48,149 | ' | ' |
Total current assets | 672,654 | 651,783 | ' | ' |
Land, buildings, improvements and equipment, net | 188,913 | 191,163 | ' | ' |
Goodwill | 205,756 | 210,223 | 210,223 | 207,319 |
Investment in guarantors | 0 | 0 | ' | ' |
Other assets | 93,837 | 96,378 | ' | ' |
Total | 1,161,160 | 1,149,547 | 1,093,003 | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' |
Accounts payable | 103,569 | 126,662 | ' | ' |
Accrued expenses and other liabilities | 78,760 | 79,822 | ' | ' |
Total current liabilities | 182,329 | 206,484 | ' | ' |
Long-term debt | 472,445 | 449,483 | ' | ' |
Other long-term obligations | 36,362 | 28,697 | ' | ' |
Shareholders' equity attributable to Central Garden & Pet | 468,678 | 463,937 | ' | ' |
Noncontrolling interest | 1,346 | 946 | ' | ' |
Total equity | 470,024 | 464,883 | 456,782 | 532,143 |
Total | 1,161,160 | 1,149,547 | ' | ' |
Parent [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 12,441 | 44,662 | 10,633 | 90,265 |
Short term investments | 17,820 | 22,705 | ' | ' |
Accounts receivable, net | 43,660 | 48,339 | ' | ' |
Inventories | 114,662 | 97,017 | ' | ' |
Prepaid expenses and other assets | 24,747 | 25,242 | ' | ' |
Total current assets | 213,330 | 237,965 | ' | ' |
Land, buildings, improvements and equipment, net | 78,662 | 81,727 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Investment in guarantors | 693,615 | 654,362 | ' | ' |
Other assets | 57,255 | 54,910 | ' | ' |
Total | 1,042,862 | 1,028,964 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' |
Accounts payable | 36,869 | 49,894 | ' | ' |
Accrued expenses and other liabilities | 33,664 | 38,673 | ' | ' |
Total current liabilities | 70,533 | 88,567 | ' | ' |
Long-term debt | 472,418 | 449,387 | ' | ' |
Other long-term obligations | 29,887 | 26,127 | ' | ' |
Shareholders' equity attributable to Central Garden & Pet | 468,678 | 463,937 | ' | ' |
Noncontrolling interest | 1,346 | 946 | ' | ' |
Total equity | 470,024 | 464,883 | ' | ' |
Total | 1,042,862 | 1,028,964 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 2,715 | 3,813 | 1,398 | 1,195 |
Short term investments | 0 | 0 | ' | ' |
Accounts receivable, net | 153,734 | 159,328 | ' | ' |
Inventories | 277,272 | 233,015 | ' | ' |
Prepaid expenses and other assets | 28,737 | 22,907 | ' | ' |
Total current assets | 462,458 | 419,063 | ' | ' |
Land, buildings, improvements and equipment, net | 110,251 | 109,436 | ' | ' |
Goodwill | 205,756 | 210,223 | ' | ' |
Investment in guarantors | 0 | 0 | ' | ' |
Other assets | 36,582 | 41,468 | ' | ' |
Total | 815,047 | 780,190 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' |
Accounts payable | 69,834 | 82,013 | ' | ' |
Accrued expenses and other liabilities | 45,096 | 41,149 | ' | ' |
Total current liabilities | 114,930 | 123,162 | ' | ' |
Long-term debt | 27 | 96 | ' | ' |
Other long-term obligations | 6,475 | 2,570 | ' | ' |
Shareholders' equity attributable to Central Garden & Pet | 693,615 | 654,362 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total equity | 693,615 | 654,362 | ' | ' |
Total | 815,047 | 780,190 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
ASSETS | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Short term investments | 0 | 0 | ' | ' |
Accounts receivable, net | -3,134 | -5,245 | ' | ' |
Inventories | 0 | 0 | ' | ' |
Prepaid expenses and other assets | 0 | 0 | ' | ' |
Total current assets | -3,134 | -5,245 | ' | ' |
Land, buildings, improvements and equipment, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Investment in guarantors | -693,615 | -654,362 | ' | ' |
Other assets | 0 | 0 | ' | ' |
Total | -696,749 | -659,607 | ' | ' |
LIABILITIES AND EQUITY | ' | ' | ' | ' |
Accounts payable | -3,134 | -5,245 | ' | ' |
Accrued expenses and other liabilities | 0 | 0 | ' | ' |
Total current liabilities | -3,134 | -5,245 | ' | ' |
Long-term debt | 0 | 0 | ' | ' |
Other long-term obligations | 0 | 0 | ' | ' |
Shareholders' equity attributable to Central Garden & Pet | -693,615 | -654,362 | ' | ' |
Noncontrolling interest | 0 | 0 | ' | ' |
Total equity | -693,615 | -654,362 | ' | ' |
Total | ($696,749) | ($659,607) | ' | ' |
Consolidating_Condensed_Financ6
Consolidating Condensed Financial Information of Guarantor Subsidiaries - Condensed Cash Flows Statement on Company's Understanding of SEC Interpretation (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 28, 2013 | Sep. 29, 2012 | Sep. 24, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash (used) provided by operating activities | ($28,282) | $89,169 | $51,008 |
Additions to property | -25,172 | -39,592 | -31,563 |
Businesses acquired, net of cash acquired | -4,835 | 0 | -25,307 |
Return of equity investment | ' | ' | 3,133 |
Sale of short term investments | 4,885 | -4,885 | -2,500 |
Investment in short term investments | ' | -4,885 | -2,500 |
Investment in guarantor | 0 | 0 | 0 |
Net cash used by investing activities | -25,122 | -44,477 | -56,237 |
Repayments on revolving line of credit | -368,000 | -339,000 | -668,000 |
Borrowings on revolving line of credit | 391,000 | 304,000 | 703,000 |
Proceeds from the issuance of long-term debt | 0 | 49,312 | 0 |
Repayments of long-term debt | -332 | -353 | -335 |
Proceeds from issuance of common stock | 613 | 2,129 | 1,675 |
Excess tax benefits from stock-based awards | 388 | 1,881 | 945 |
Repurchase of common stock | -2,731 | -24,829 | -108,727 |
Payment of financing costs | 0 | -1,715 | -1,055 |
Distribution to noncontrolling interest | -629 | 0 | -1,500 |
Net cash provided (used) by financing activities | 20,309 | -8,575 | -73,997 |
Effect of exchange rates on cash | -224 | 327 | -203 |
Net increase (decrease) in cash and cash equivalents | -33,319 | 36,444 | -79,429 |
Cash and cash equivalents at beginning of year | 48,475 | 12,031 | 91,460 |
Cash and cash equivalents at end of year | 15,156 | 48,475 | 12,031 |
Parent [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash (used) provided by operating activities | -9,068 | 74,405 | 50,459 |
Additions to property | -8,993 | -20,736 | -16,802 |
Businesses acquired, net of cash acquired | 0 | ' | -23,403 |
Return of equity investment | ' | ' | 3,133 |
Sale of short term investments | 4,885 | ' | ' |
Investment in short term investments | ' | -4,885 | -2,500 |
Investment in guarantor | -39,253 | -6,736 | -16,719 |
Net cash used by investing activities | -43,361 | -32,357 | -56,291 |
Repayments on revolving line of credit | -368,000 | -339,000 | -668,000 |
Borrowings on revolving line of credit | 391,000 | 304,000 | 703,000 |
Proceeds from the issuance of long-term debt | ' | 49,312 | ' |
Repayments of long-term debt | -206 | -231 | -190 |
Proceeds from issuance of common stock | 613 | 2,129 | 1,675 |
Excess tax benefits from stock-based awards | 388 | 1,881 | 945 |
Repurchase of common stock | -2,731 | -24,829 | -108,727 |
Payment of financing costs | ' | -1,715 | -1,055 |
Distribution to noncontrolling interest | -629 | ' | -1,500 |
Net cash provided (used) by financing activities | 20,435 | -8,453 | -73,852 |
Effect of exchange rates on cash | -227 | 434 | 52 |
Net increase (decrease) in cash and cash equivalents | -32,221 | 34,029 | -79,632 |
Cash and cash equivalents at beginning of year | 44,662 | 10,633 | 90,265 |
Cash and cash equivalents at end of year | 12,441 | 44,662 | 10,633 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash (used) provided by operating activities | 20,858 | 65,527 | 56,373 |
Additions to property | -16,179 | -18,856 | -14,761 |
Businesses acquired, net of cash acquired | -4,835 | ' | -1,904 |
Return of equity investment | ' | ' | 0 |
Sale of short term investments | 0 | ' | ' |
Investment in short term investments | ' | 0 | 0 |
Investment in guarantor | -819 | -44,027 | -39,105 |
Net cash used by investing activities | -21,833 | -62,883 | -55,770 |
Repayments on revolving line of credit | 0 | 0 | 0 |
Borrowings on revolving line of credit | 0 | 0 | 0 |
Proceeds from the issuance of long-term debt | ' | 0 | ' |
Repayments of long-term debt | -126 | -122 | -145 |
Proceeds from issuance of common stock | 0 | 0 | 0 |
Excess tax benefits from stock-based awards | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | 0 |
Payment of financing costs | ' | 0 | 0 |
Distribution to noncontrolling interest | 0 | ' | 0 |
Net cash provided (used) by financing activities | -126 | -122 | -145 |
Effect of exchange rates on cash | 3 | -107 | -255 |
Net increase (decrease) in cash and cash equivalents | -1,098 | 2,415 | 203 |
Cash and cash equivalents at beginning of year | 3,813 | 1,398 | 1,195 |
Cash and cash equivalents at end of year | 2,715 | 3,813 | 1,398 |
Eliminations [Member] | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' |
Net cash (used) provided by operating activities | -40,072 | -50,763 | -55,824 |
Additions to property | 0 | 0 | 0 |
Businesses acquired, net of cash acquired | 0 | ' | 0 |
Return of equity investment | ' | ' | 0 |
Sale of short term investments | 0 | ' | ' |
Investment in short term investments | ' | 0 | 0 |
Investment in guarantor | 40,072 | 50,763 | 55,824 |
Net cash used by investing activities | 40,072 | 50,763 | 55,824 |
Repayments on revolving line of credit | 0 | 0 | 0 |
Borrowings on revolving line of credit | 0 | 0 | 0 |
Proceeds from the issuance of long-term debt | ' | 0 | ' |
Repayments of long-term debt | 0 | 0 | 0 |
Proceeds from issuance of common stock | 0 | 0 | 0 |
Excess tax benefits from stock-based awards | 0 | 0 | 0 |
Repurchase of common stock | 0 | 0 | 0 |
Payment of financing costs | ' | 0 | 0 |
Distribution to noncontrolling interest | 0 | ' | 0 |
Net cash provided (used) by financing activities | 0 | 0 | 0 |
Effect of exchange rates on cash | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents at beginning of year | 0 | 0 | 0 |
Cash and cash equivalents at end of year | $0 | $0 | $0 |
Subsequent_Events_Additional_I
Subsequent Events - Additional Information (Detail) (USD $) | 12 Months Ended | 0 Months Ended | |||||||
In Millions, unless otherwise specified | Sep. 28, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 | Dec. 05, 2013 |
Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||
LIBOR [Member] | LIBOR [Member] | Base Rate [Member] | Base Rate [Member] | Asset Backed Loan Facility [Member] | Asset Backed Loan Facility [Member] | Asset Backed Loan Facility [Member] | Asset Backed Loan Facility [Member] | ||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Federal Funds Rate [Member] | LIBOR [Member] | Base Rate [Member] | |||
Credit Facility, principal amount | $23 | ' | ' | ' | ' | $390 | ' | ' | ' |
Credit Facility, additional borrowings available | ' | ' | ' | ' | ' | $200 | ' | ' | ' |
Credit Facility, maturity date | ' | ' | ' | ' | ' | 5-Dec-18 | ' | ' | ' |
Credit Facility, interest rate description | ' | ' | ' | ' | ' | 'Borrowings under the Credit Facility will bear interest at an index based on LIBOR or, at the option of the Company, the Base Rate (defined as the highest of (a) the SunTrust prime rate, (b) the Federal Funds Rate plus 0.5% and (c) one-month LIBOR plus 1.00%), plus, in either case, an applicable margin based on the Companybs total outstanding borrowings. Such applicable margin for LIBOR-based borrowings fluctuates between 1.25%-1.75% (and was 1.25% at the time of closing) and such applicable margin for Base Rate borrowings fluctuates between 0.25%-0.75% (and was 0.25% at closing). | ' | ' | ' |
Credit Facility, percentage of additional base rate for interest | ' | ' | ' | ' | ' | ' | 0.50% | 1.00% | ' |
Credit Facility, description of variable base rate | ' | ' | ' | ' | ' | 'One-month LIBOR | ' | ' | ' |
Credit Facility, LIBOR margin rate | ' | 1.25% | 1.75% | ' | ' | ' | ' | ' | ' |
Credit Facility, LIBOR margin rate at period end | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' |
Credit Facility, percentage of base rate for interest | 5.00% | ' | ' | 0.25% | 0.75% | ' | ' | ' | ' |
Credit Facility, percentage of base rate at period end | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% |
Fixed charge coverage ratio | ' | ' | ' | ' | ' | 1 | ' | ' | ' |