2 unchanged sentences
Our Class B stock is not listed on any market and generally cannot be transferred unless converted to common stock on a one-for-one basis.
−Removed: As of November 11, 2022, there were approximately 72 holders of record of our common stock, approximately 385 holders of record of our Class A nonvoting common stock and 3 holders of record of our Class B stock.
+Added: As of November 15, 2023, there were 74 holders of record of our common stock, 368 holders of record of our Class A nonvoting common stock and three holders of record of our Class B stock.
Stock Performance Graph
27 unchanged sentences
Total 69,325 $ 36.87 65,268 $ 83,235,000 (4)
−Removed: (1) In August 2019, our Board of Directors authorized a new share repurchase program to purchase up to $100 million of our common stock (the "2019 Repurchase Authorization”).
+Added: (1) In August 2019, our Board of Directors authorized a share repurchase program to purchase up to $100 million of our common stock (the "2019 Repurchase Authorization”).
The 2019 Repurchase Authorization has no fixed expiration date and expires when the amount authorized has been used or the Board withdraws its authorization.
5 unchanged sentences
(3) Shares purchased during the period indicated represent withholding of a portion of shares to cover taxes in connection with the vesting of restricted stock and do not reduce the dollar value of shares that may be purchased under our stock repurchase plan.
−Removed: (4) Excludes 0.1 million shares remaining under our Equity Dilution Authorization as of September 24, 2022.
−Removed: Selected Financial Data
−Removed: The following selected statement of operations and balance sheet data as of and for the five fiscal years ended September 24, 2022 have been derived from our audited consolidated financial statements.
−Removed: The financial data set forth below should be read in conjunction with our consolidated financial statements and related notes thereto in “Item 8 – Financial Statements and Supplementary Data” and “Item 7 – Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere herein.
−Removed: Fiscal Year Ended
−Removed: September 24, 2022 September 25, 2021 September 26, 2020 September 28, 2019 September 29, 2018
−Removed: (in thousands, except per share amounts)
−Removed: Statement of Operations Data (1) :
−Removed: Net sales $ 3,338,588 $ 3,303,684 $ 2,695,509 $ 2,383,010 $ 2,215,362
−Removed: Cost of goods sold 2,346,283 2,332,783 1,898,951 1,678,969 1,539,986
−Removed: Gross profit 992,305 970,901 796,558 704,041 675,376
−Removed: Selling, general and administrative expenses (2)
−Removed: 732,269 716,405 598,581 551,973 508,040
−Removed: Operating income 260,036 254,496 197,977 152,068 167,336
−Removed: Interest expense, net (3)
−Removed: (57,534) (58,182) (39,989) (33,060) (36,051)
−Removed: Other income (expense) (4)
−Removed: (3,596) (1,506) (4,250) 243 (3,860)
−Removed: Income before income taxes and noncontrolling interest 198,906 194,808 153,738 119,251 127,425
−Removed: Income tax expense (5)
−Removed: 46,234 42,035 32,218 26,604 3,305
−Removed: Income including noncontrolling interest 152,672 152,773 121,520 92,647 124,120
−Removed: Net income (loss) attributable to noncontrolling interest 520 1,027 844 (139) 526
−Removed: Net income attributable to Central Garden & Pet $ 152,152 $ 151,746 $ 120,676 $ 92,786 $ 123,594
−Removed: Net income per share attributable to Central Garden & Pet:
−Removed: Basic $ 2.86 $ 2.81 $ 2.23 $ 1.63 $ 2.39
−Removed: Diluted $ 2.80 $ 2.75 $ 2.20 $ 1.61 $ 2.32
−Removed: Weighted average shares used in the computation of income per share:
−Removed: Basic 53,220 53,914 54,008 56,770 51,716
−Removed: Diluted 54,425 55,248 54,738 57,611 53,341
−Removed: Depreciation and amortization $ 80,948 $ 74,727 $ 55,359 $ 50,828 $ 47,199
−Removed: Capital expenditures $ 115,205 $ 80,333 $ 43,055 $ 31,577 $ 37,845
−Removed: Cash (used) provided by operating activities $ (34,030) $ 250,844 $ 264,273 $ 204,974 $ 114,112
−Removed: Cash used in investing activities $ (142,983) $ (899,359) $ (48,106) $ (76,263) $ (140,882)
−Removed: Cash (used) provided by financing activities $ (66,815) $ 420,475 $ (60,560) $ (110,765) $ 474,783
−Removed: Fiscal Year Ended
−Removed: September 24, 2022 September 25, 2021 September 26, 2020 September 28, 2019 September 29, 2018
−Removed: (in thousands)
−Removed: Balance Sheet Data:
−Removed: Cash and cash equivalents $ 177,442 $ 426,422 $ 652,712 $ 497,749 $ 482,106
−Removed: Working capital $ 1,087,962 $ 1,021,338 $ 1,085,021 $ 1,028,668 $ 1,004,334
−Removed: Total assets (6)
−Removed: $ 3,282,002 $ 3,116,680 $ 2,339,364 $ 2,025,020 $ 1,907,209
−Removed: Total debt (3)
−Removed: $ 1,186,562 $ 1,185,764 $ 694,053 $ 693,150 $ 692,153
−Removed: $ 1,334,712 $ 1,223,541 $ 1,077,674 $ 996,177 $ 952,834
−Removed: (1) Fiscal years 2018 through 2022 included 52 weeks.
−Removed: (2) During fiscal 2019, we recognized a non-cash charge of $2.5 million related to the impairment of a certain long-lived intangible asset in our Pet Segment.
−Removed: This charge was included as part of selling, general and administrative expenses.
−Removed: (3) During the first quarter of fiscal 2021, we issued $500 million aggregate principal amount of 4.125% senior notes due October 2030.
−Removed: We used a portion of the proceeds to redeem all of our outstanding 6.125% senior notes due 2023.
−Removed: As a result of our redemption of the 2023 Notes, we incurred incremental expenses of approximately $10.0 million, comprised of a call premium payment of $6.1 million, overlapping interest expense of approximately $1.4 million and a $2.5 million non-cash charge for the write-off of unamortized financing costs in interest expense.
−Removed: During the third quarter of fiscal 2021, we issued $400 million aggregate principal amount of 4.125% senior notes due April 2031.
−Removed: In December 2017, we issued $300 million aggregate principal amount of 5.125% senior notes due February 2028.
−Removed: (4) During fiscal 2020, we recognized a non-cash impairment charge of $3.6 million for two private company investments.
−Removed: (5) Income tax expense was impacted by a fiscal 2018 tax benefit of $21.5 million from the revaluation of our deferred tax assets and liabilities as a result of the Tax Reform Act.
−Removed: (6) In the first quarter of fiscal 2020, we adopted lease accounting standard ASC 842, which required us to recognize lease Right-of-Use Assets of $111 million on our balance sheet at adoption.
−Removed: (7) During the fourth quarter of fiscal 2018, we issued 5,550,000 shares of Class A common stock at a public offering price of $37.00 per share and received net proceeds of approximately $196 million.
+Added: (4) During the period June 25 through July 29, 2023, 65,268 shares were repurchased under the two plans, including 30,734 shares under the Equity Dilution Authorization and 34,534 shares under the 2019 Repurchase Authorization.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.