3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except for par value amounts)
(Unaudited)
November 26, 2022September 2, 2023
May 28, 2022June 3, 2023
Assets
Current assets:
Cash and cash equivalents
$
178,635360,343
$
59,084292,824
Investment securities available-for-sale
200,714249,619
115,429355,090
Trade and other receivables, net
262,964125,363
177,257120,247
Income tax receivable
42,14733,787
42,14766,966
Inventories
280,582280,801
263,316284,418
Prepaid expenses and other current assets
8,96814,145
4,2865,380
974,0101,064,058
661,5191,124,925
Property, plant &
equipment, net
703,882752,580
677,796744,540
Investments in unconsolidated entities
14,68713,978
15,53014,449
Goodwill
44,006
44,006
Intangible assets, net
17,03715,347
18,13115,897
Other long-term assets
9,81810,398
10,50710,708
Total Assets
$
1,763,4401,900,367
$
1,427,4891,954,525
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
154,624117,800
$
122,331137,313
Accrued income taxes payable
85,7238,288
25,6878,288
Dividends payable
66,202294
36,65637,130
306,549126,382
184,674182,731
Other noncurrent liabilities
9,4109,930
10,2749,999
Deferred income taxes, net
127,176152,725
128,196152,212
Total liabilities
443,135289,037
323,144344,942
Commitments and contingencies - see Note 9
—
—
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
70,00573,153
67,98972,112
Retained earnings
1,281,7841,571,744
1,065,8541,571,112
Accumulated other comprehensive loss, net of tax
(3,087)(2,291)
(1,596)(2,886)
Common stock in treasury at cost –
26,12626,078
shares at
November 26, 2022September 2, 2023 and
26,12126,077
shares at May 28, 2022June 3, 2023
(28,496)(30,014)
(28,447)(30,008)
Total Cal-Maine Foods,
Inc. stockholders’ equity
1,320,9571,613,343
1,104,5511,611,081
Noncontrolling interest in consolidated entity
(652)(2,013)
(206)(1,498)
Total stockholders’
equity
1,320,3051,611,330
1,104,3451,609,583
Total Liabilities and Stockholders’
Equity
$
1,763,4401,900,367
$
1,427,4891,954,525
See Notes to Condensed Consolidated Financial Statements.