CENTRAL GARDEN & PET COCENT
CENTRAL GARDEN & PET CO Segments Disclosure
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 uses operating income or loss to evaluate segment performance and allocate resources, including consideration of plan-to-actual variances and prior year-to-actual variances on a quarterly basis. The Company’s Corporate expenses are included in the following presentation since certain expenses are not allocated separately to the two operating segments. Segment assets exclude short-term investments, goodwill, 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 Nylabone Products, IMS Trading, Four Paws Products, TDBBS, Central Specialty Pet (Avian and Small Animal, C&S Products and Aquatics), Segrest, K&H Pet Products, Arden, DMC, Life Sciences, Interpet, General Pet and Pet Distribution. These businesses are engaged in the manufacture, purchase, sale and delivery of internally and externally produced pet supplies, animal health and insect controls, aquariums, books, dog treats and food, as well as live fish and small animals principally to independent pet distributors, big-box retailers, regional retailer chains, eCommerce retailers, grocery stores and mass merchants. The Garden segment consists of Grass Seed, Bird Feed, Chemicals and Fertilizers, Excel Marketing, Gulfstream, Cedarworks, Bell Nursery, Hopewell Nursery, DMO, Green Garden, D&D Commodities and Garden Distribution. Products manufactured, designed and sourced, or distributed include products found typically in the lawn and garden sections of mass merchandisers, warehouse-type clubs, home improvement centers and nurseries and include live plants; grass, vegetable, flower and herb seed; wild bird feed, bird houses and other birding accessories; terra-cotta pottery; herbicides, pesticides and insecticides. These products are sold directly to national and regional retail chains, independent garden distributors, online retailers, grocery stores, nurseries and garden supply retailers. Reportable segments have been identified based on financial data utilized to manage our businesses by management. This is derived primarily from differences in products and services and secondarily by differences in the customer base between the two segments.
The Corporate expenses include costs associated with corporate functions such as: Information Technology, Legal, Mergers & Acquisitions and certain employee benefits.
The following table indicates each class of similar products which represented approximately 10% or more of the Company’s consolidated net sales in the fiscal years presented (in millions).
| Category | 2025 | 2024 | 2023 | |||||||||||||||||
| (in millions) | ||||||||||||||||||||
| Other garden products | $ | 808.2 | $ | 832.9 | $ | 832.2 | ||||||||||||||
| Other pet products | 602.6 | 635.0 | 699.4 | |||||||||||||||||
| Other manufacturers' products | 664.7 | 705.6 | 734.9 | |||||||||||||||||
| Dog & cat products | 592.8 | 600.6 | 568.6 | |||||||||||||||||
| Wild bird | 460.8 | 426.4 | 475.0 | |||||||||||||||||
| Total | $ | 3,129.1 | $ | 3,200.5 | $ | 3,310.1 | ||||||||||||||
See Note 4 – Concentration of Credit Risk and Significant Customers and Suppliers for the Company’s largest customers by segment.
Financial information relating to the Company’s business segments for each of the three most recent fiscal years is presented in the following tables:
Fiscal Year Ended September 27, 2025 | |||||||||||||||||
| Pet | Garden | Total | |||||||||||||||
| (in thousands) | |||||||||||||||||
| Net sales | $ | 1,801,930 | $ | 1,327,134 | $ | 3,129,064 | |||||||||||
| Cost of goods sold | 1,164,117 | 967,611 | |||||||||||||||
| Selling, general and administrative expenses | 422,125 | 217,121 | |||||||||||||||
| Segment operating income | $ | 215,688 | $ | 142,402 | $ | 358,090 | |||||||||||
| Unallocated corporate expenses | (108,048) | ||||||||||||||||
| Interest expense | (57,697) | ||||||||||||||||
| Interest income | 24,885 | ||||||||||||||||
| Other expense | (480) | ||||||||||||||||
| Income before income taxes and noncontrolling interest | $ | 216,750 | |||||||||||||||
Fiscal Year Ended September 28, 2024 | |||||||||||||||||
| Pet | Garden | Total | |||||||||||||||
| (in thousands) | |||||||||||||||||
| Net sales | $ | 1,832,744 | $ | 1,367,716 | $ | 3,200,460 | |||||||||||
| Cost of goods sold | 1,203,255 | 1,053,470 | |||||||||||||||
| Selling, general and administrative expenses | 426,064 | 232,353 | |||||||||||||||
| Segment operating income | $ | 203,425 | $ | 81,893 | $ | 285,318 | |||||||||||
| Unallocated corporate expenses | (99,931) | ||||||||||||||||
| Interest expense | (57,527) | ||||||||||||||||
| Interest income | 19,655 | ||||||||||||||||
| Other expense | (5,090) | ||||||||||||||||
| Income before income taxes and noncontrolling interest | $ | 142,425 | |||||||||||||||
Fiscal Year Ended September 30, 2023 | |||||||||||||||||
| Pet | Garden | Total | |||||||||||||||
| (in thousands) | |||||||||||||||||
| Net sales | $ | 1,877,177 | $ | 1,432,906 | $ | 3,310,083 | |||||||||||
| Cost of goods sold | 1,280,333 | 1,082,908 | |||||||||||||||
| Selling, general and administrative expenses | 398,839 | 226,543 | |||||||||||||||
| Segment operating income | $ | 198,005 | $ | 123,455 | $ | 321,460 | |||||||||||
| Unallocated corporate expenses | (110,814) | ||||||||||||||||
| Interest expense | (57,025) | ||||||||||||||||
| Interest income | 7,362 | ||||||||||||||||
| Other income | 1,462 | ||||||||||||||||
| Income before income taxes and noncontrolling interest | $ | 162,445 | |||||||||||||||
| Fiscal Year Ended | |||||||||||||||||
| September 27, 2025 | September 28, 2024 | September 30, 2023 | |||||||||||||||
| (in thousands) | |||||||||||||||||
| Assets: | |||||||||||||||||
| Pet segment | $ | 941,122 | $ | 955,000 | $ | 944,359 | |||||||||||
| Garden segment | 1,232,088 | 1,272,033 | 1,349,426 | ||||||||||||||
| Total reportable segments | 2,173,210 | 2,227,033 | 2,293,785 | ||||||||||||||
| Corporate and unallocated | 1,452,433 | 1,326,406 | 1,084,863 | ||||||||||||||
| Total | $ | 3,625,643 | $ | 3,553,439 | $ | 3,378,648 | |||||||||||
| Depreciation and amortization: | |||||||||||||||||
| Pet segment | $ | 39,916 | $ | 43,642 | $ | 41,126 | |||||||||||
| Garden segment | 42,301 | 44,403 | 43,375 | ||||||||||||||
| Total reportable segments | 82,217 | 88,045 | 84,501 | ||||||||||||||
| Corporate and unallocated | 2,677 | 2,762 | 3,199 | ||||||||||||||
| Total | $ | 84,894 | $ | 90,807 | $ | 87,700 | |||||||||||
| Expenditures for long-lived assets: | |||||||||||||||||
| Pet segment | $ | 26,189 | $ | 27,757 | $ | 33,515 | |||||||||||
| Garden segment | 14,655 | 17,307 | 19,109 | ||||||||||||||
| Total reportable segments | 40,844 | 45,064 | 52,624 | ||||||||||||||
| Corporate and unallocated | 762 | 1,600 | 1,342 | ||||||||||||||
| Total | $ | 41,606 | $ | 46,664 | $ | 53,966 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Nov 26, 2025 | Showing above |
| 2024 | Nov 27, 2024 | |
| 2023 | Nov 28, 2023 | |
| 2022 | Nov 22, 2022 | |
| 2021 | Nov 23, 2021 | |
| 2020 | Nov 24, 2020 | |
| 2019 | Nov 27, 2019 | |
| 2018 | Nov 28, 2018 | |
| 2017 | Nov 29, 2017 | |
| 2016 | Dec 2, 2016 | |
| 2015 | Dec 10, 2015 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.