3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except for par value amounts)
November 27, 2021February 26, 2022
May 29, 2021
Assets
Current assets:
Cash and cash equivalents
$
15,48415,589
$
57,352
Investment securities available-for-sale
69,67281,125
112,158
Trade and other receivables, net
152,958138,654
126,63984,123
Income tax receivable
41,383
42,516
Inventories
236,201240,087
218,375
Prepaid expenses and other current assets
6,8145,872
5,407
481,129522,710
519,931
Property, plant &
equipment, net
667,250671,373
589,417
Finance lease right-of-use asset, net
448409
525
Operating lease right-of-use asset, net
1,3471,168
1,724
Investments in unconsolidated entities
10,98515,794
54,941
Goodwill
44,006
35,525
Intangible assets, net
19,24118,686
20,341
Other long-term assets
7,5887,849
6,770
Total Assets
$
1,231,9941,281,995
$
1,229,174
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
115,619120,665
$
89,191
Current portion of finance lease obligation
219222
215
Current portion of operating lease obligation
550486
691
116,388121,373
90,097
Long-term finance lease obligation
327271
438
Long-term operating lease obligation
797682
1,034
Other noncurrent liabilities
10,30610,673
10,416
Deferred income taxes, net
106,753118,753
114,408
Total liabilities
234,571251,752
216,393
Commitments and contingencies - see
Note 13
—
—
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
66,01966,909
64,044
Retained earnings
959,124992,523
975,977
Accumulated other comprehensive loss, net of tax
(996)(1,413)
(558)
Common stock in treasury at cost –
26,20426,121
shares at
November 27, 2021February 26, 2022 and
26,202
shares at May 29, 2021
(27,450)(28,439)
(27,433)
Total Cal-Maine Foods,
Inc. stockholders’ equity
997,4481,030,331
1,012,781
Noncontrolling interest in consolidated entity
(25)(88)
0
Total stockholders’
equity
997,4231,030,243
1,012,781
Total Liabilities and Stockholders’
Equity
$
1,231,9941,281,995
$
1,229,174
See Notes to Condensed Consolidated Financial Statements.