3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except for par value amounts)
(Unaudited)
December 2, 2023
June 3, 2023
Assets
Current assets:
Cash and cash equivalents
$
361,783
$
292,824
Investment securities available-for-sale
206,045
355,090
Trade and other receivables, net
165,391
120,247
Income tax receivable
33,771
66,966
Inventories
287,270
284,418
Prepaid expenses and other current assets
9,673
5,380
1,063,933
1,124,925
Property, plant &
equipment, net
815,468
744,540
Investments in unconsolidated entities
14,370
14,449
Goodwill
45,776
44,006
Intangible assets, net
17,074
15,897
Other long-term assets
10,184
10,708
Total Assets
$
1,966,805
$
1,954,525
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$
98,144
$
82,590
Accrued wages and benefits
20,164
38,733
Accrued income taxes payable
8,445
8,288
Dividends payable
5,682
37,130
Accrued expenses and other liabilities
21,352
15,990
Total current
liabilities
153,787
182,731
Other noncurrent liabilities
30,571
9,999
Deferred income taxes, net
158,483
152,212
Total liabilities
342,841
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
74,214
72,112
Retained earnings
1,583,071
1,571,112
Accumulated other comprehensive loss, net of tax
(1,614)
(2,886)
Common stock in treasury at cost –
26,078
shares at December 2, 2023 and
26,077
shares at June 3, 2023
(30,014)
(30,008)
Total Cal-Maine Foods,
Inc. stockholders’ equity
1,626,408
1,611,081
Noncontrolling interest in consolidated entity
(2,444)
(1,498)
Total stockholders’
equity
1,623,964
1,609,583
Total Liabilities and Stockholders’
Equity
$
1,966,805
$
1,954,525
See Notes to Condensed Consolidated Financial Statements.