3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except for par value amounts)
(Unaudited)
August 27,November 26, 2022
May 28, 2022
Assets
Current assets:
Cash and cash equivalents
$
136,021178,635
$
59,084
Investment securities available-for-sale
145,784200,714
115,429
Trade and other receivables, net
178,217262,964
177,257
Income tax receivable
42,147
42,147
Inventories
265,754280,582
263,316
Prepaid expenses and other current assets
10,9658,968
4,286
778,888974,010
661,519
Property, plant &
equipment, net
688,656703,882
677,796
Investments in unconsolidated entities
15,67414,687
15,530
Goodwill
44,006
44,006
Intangible assets, net
17,59217,037
18,131
Other long-term assets
9,9139,818
10,507
Total Assets
$
1,554,7291,763,440
$
1,427,489
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
188,689154,624
$
148,018122,331
Accrued income taxes payable
85,723
25,687
Dividends payable
41,74266,202
36,656
Total current
liabilities
230,431306,549
184,674
Other noncurrent liabilities
9,7069,410
10,274
Deferred income taxes, net
126,629127,176
128,196
Total liabilities
366,766443,135
323,144
Commitments and contingencies - see Note 119
—
—
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
69,01770,005
67,989
Retained earnings
1,149,3991,281,784
1,065,854
Accumulated other comprehensive loss, net of tax
(2,350)(3,087)
(1,596)
Common stock in treasury at cost –
26,12526,126
shares at
August 27,November 26, 2022 and
26,121
at May 28, 2022
(28,495)(28,496)
(28,447)
Total Cal-Maine Foods,
Inc. stockholders’ equity
1,188,3221,320,957
1,104,551
Noncontrolling interest in consolidated entity
(359)(652)
(206)
Total stockholders’
equity
1,187,9631,320,305
1,104,345
Total Liabilities and Stockholders’
Equity
$
1,554,7291,763,440
$
1,427,489
See Notes to Condensed Consolidated Financial Statements.