3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except for par value amounts)
August 28, 2021February 26, 2022
May 29, 2021
Assets
Current assets:
Cash and cash equivalents
$
16,68415,589
$
57,352
Investment securities available-for-sale
73,66681,125
112,158
Trade and other receivables, net
134,400138,654
126,63984,123
Income tax receivable
41,383
42,516
Inventories
226,470240,087
218,375
Prepaid expenses and other current assets
9,2495,872
5,407
460,469522,710
519,931
Property, plant &
equipment, net
667,963671,373
589,417
Finance lease right-of-use asset, net
486409
525
Operating lease right-of-use asset, net
1,5331,168
1,724
Investments in unconsolidated entities
10,72215,794
54,941
Goodwill
44,006
35,525
Intangible assets, net
19,79818,686
20,341
Other long-term assets
6,7537,849
6,770
Total Assets
$
1,211,7301,281,995
$
1,229,174
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
96,709120,665
$
89,191
Current portion of finance lease obligation
217222
215
Current portion of operating lease obligation
617486
691
97,543121,373
90,097
Long-term finance lease obligation
383271
438
Long-term operating lease obligation
916682
1,034
Other noncurrent liabilities
10,32510,673
10,416
Deferred income taxes, net
106,996118,753
114,408
Total liabilities
216,163251,752
216,393
Commitments and contingencies - see
Note 13
0—
0
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
65,04466,909
64,044
Retained earnings
957,951992,523
975,977
Accumulated other comprehensive loss, net of tax
(728)(1,413)
(558)
Common stock in treasury at cost –
26,20326,121
shares at
August 28, 2021February 26, 2022 and
26,202
at May 29, 2021
(27,451)(28,439)
(27,433)
Total
Cal-Maine Foods, Inc. stockholders’
equity
995,5671,030,331
1,012,781
Noncontrolling interest in consolidated entity
(88)
0
Total stockholders’ equity
1,030,243
1,012,781
Total Liabilities and Stockholders’
Equity
$
1,211,7301,281,995
$
1,229,174
See Notes to Condensed Consolidated Financial Statements.