3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except for par value amounts)
February 27,26, 2022
May 29, 2021
43981
Assets
Current assets:
Cash and cash equivalents
$
52,91715,589
$
78,13057,352
Investment securities available-for-sale
127,77181,125
154,163112,158
Trade and other receivables, net
130,314138,654
98,37584,123
Income tax receivable
41,383
42,516
Inventories
207,739240,087
187,216218,375
Prepaid expenses and other current assets
4,1625,872
4,3675,407
522,903522,710
522,251519,931
Property, plant &
equipment, net
585,389671,373
557,375589,417
Finance lease right-of-use asset, net
563409
678525
Operating lease right-of-use asset, net
1,9221,168
2,5311,724
Investments in unconsolidated entities
57,05515,794
60,98254,941
Goodwill
35,52544,006
35,525
Intangible assets, net
22,25618,686
22,81620,341
Other long-term assets
5,6717,849
4,5366,770
Total Assets
$
1,231,2841,281,995
$
1,206,6941,229,174
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
99,851120,665
$
92,18289,191
Current portion of finance lease obligation
212222
205215
Current portion of operating lease obligation
741486
796691
100,804121,373
93,18390,097
Long-term finance lease obligation
492271
652438
Long-term operating lease obligation
1,180682
1,7351,034
Other noncurrent liabilities
9,69010,673
8,68110,416
Deferred income taxes, net
102,669118,753
92,768114,408
Total liabilities
214,835251,752
197,019216,393
Commitments and contingencies - see
Note 1213
—
—
Stockholders’ equity:
Common stock ($
0.01
Common stock - authorized
120,000
70,261
703
703
Class A convertible common stock - authorized and issued
4,800
48
48
Paid-in capital
63,17066,909
60,37264,044
Retained earnings
980,212992,523
975,147975,977
Accumulated other comprehensive income (loss),loss, net of tax
(135)(1,413)
79(558)
Common stock in treasury at cost –
26,20526,121
shares at February
27, 202126, 2022 and
26,28726,202
shares at May 30, 202029, 2021
(27,549)(28,439)
(26,674)(27,433)
Total Cal-Maine Foods, Inc. stockholders’ equity
1,030,331
1,012,781
Noncontrolling interest in consolidated entity
(88)
0
Total stockholders’
equity
1,016,4491,030,243
1,009,6751,012,781
Total Liabilities and
Stockholders’ Equity
$
1,231,2841,281,995
1,206,6941,229,174
See Notes to Condensed Consolidated Financial Statements.