3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except for par value amounts)
(Unaudited)
March 2, 2024
June 3, 2023
Assets
Current assets:
Cash and cash equivalents
$
367,123
$
292,824
Investment securities available-for-sale
327,720
355,090
Trade and other receivables, net
212,851
120,247
Income tax receivable
33,771
66,966
Inventories
269,244
284,418
Prepaid expenses and other current assets
6,883
5,380
1,217,592
1,124,925
Property, plant &
equipment, net
826,573
744,540
Investments in unconsolidated entities
16,388
14,449
Goodwill
45,776
44,006
Intangible assets, net
16,534
15,897
Other long-term assets
10,666
10,708
Total Assets
$
2,133,529
$
1,954,525
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
95,610
$
82,590
Accrued wages and benefits
25,721
38,733
Accrued income taxes payable
30,113
8,288
Dividends payable
48,891
37,130
Accrued expenses and other liabilities
15,354
15,990
Total current
liabilities
215,689
182,731
Other noncurrent liabilities
30,740
9,999
Deferred income taxes, net
166,141
152,212
Total liabilities
412,570
344,942
Commitments and contingencies - see Note 10
—
—
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
75,226
72,112
Retained earnings
1,680,886
1,571,112
Accumulated other comprehensive loss, net of tax
(1,514)
(2,886)
Common stock in treasury at cost –
26,022
shares at March 2, 2024 and
26,077
at June 3, 2023
(31,597)
(30,008)
Total Cal-Maine Foods,
Inc. stockholders’ equity
1,723,752
1,611,081
Noncontrolling interest in consolidated entity
(2,793)
(1,498)
Total stockholders’
equity
1,720,959
1,609,583
Total Liabilities and Stockholders’
Equity
$
2,133,529
$
1,954,525
See Notes to Condensed Consolidated Financial Statements.