3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(inIn thousands, except for par value amounts)
(Unaudited)
August 28, 202127, 2022
May 29, 202128, 2022
Assets
Current assets:
Cash and cash equivalents
$
16,684136,021
$
57,35259,084
Investment securities available-for-sale
73,666145,784
112,158115,429
Trade and other receivables, net
134,400178,217
126,639177,257
Income tax receivable
42,147
42,147
Inventories
226,470265,754
218,375263,316
Prepaid expenses and other current assets
9,24910,965
5,4074,286
460,469778,888
519,931661,519
Property, plant &
equipment, net
667,963688,656
589,417
Finance lease right-of-use asset, net
486
525
Operating lease right-of-use asset, net
1,533
1,724677,796
Investments in unconsolidated entities
10,72215,674
54,94115,530
Goodwill
44,006
35,52544,006
Intangible assets, net
19,79817,592
20,34118,131
Other long-term assets
6,7539,913
6,77010,507
Total Assets
$
1,211,7301,554,729
$
1,229,1741,427,489
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
96,709188,689
$
89,191148,018
Current portion of finance lease obligationDividends payable
21741,742
215
Current portion of operating lease obligation
617
69136,656
Total current
liabilities
97,543230,431
90,097
Long-term finance lease obligation
383
438
Long-term operating lease obligation
916
1,034184,674
Other noncurrent liabilities
10,3259,706
10,41610,274
Deferred income taxes, net
106,996126,629
114,408128,196
Total liabilities
216,163366,766
216,393323,144
Commitments and contingencies - see Note 11
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
65,04469,017
64,04467,989
Retained earnings
957,9511,149,399
975,9771,065,854
Accumulated other comprehensive loss, net of tax
(728)(2,350)
(558)(1,596)
Common stock in treasury at cost –
26,20326,125
shares at August
28, 202127, 2022 and
26,20226,121
at May 29, 202128, 2022
(27,451)(28,495)
(27,433)(28,447)
Total Cal-Maine Foods,Inc. stockholders’ equity 1,188,322
1,104,551
Noncontrolling interest in consolidated entity
(359)
(206)
Total stockholders’
equity
995,5671,187,963
1,012,7811,104,345
Total Liabilities and Stockholders’
Equity
$
1,211,7301,554,729
$
1,229,1741,427,489
See Notes to Condensed Consolidated Financial Statements.