3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(inIn thousands, except for par value amounts)
(Unaudited)
November 27, 202126, 2022
May 29, 202128, 2022
Assets
Current assets:
Cash and cash equivalents
$
15,484178,635
$
57,35259,084
Investment securities available-for-sale
69,672200,714
112,158115,429
Trade and other receivables, net
152,958262,964
126,639177,257
Income tax receivable
42,147
42,147
Inventories
236,201280,582
218,375263,316
Prepaid expenses and other current assets
6,8148,968
5,4074,286
481,129974,010
519,931661,519
Property, plant &
equipment, net
667,250703,882
589,417
Finance lease right-of-use asset, net
448
525
Operating lease right-of-use asset, net
1,347
1,724677,796
Investments in unconsolidated entities
10,98514,687
54,94115,530
Goodwill
44,006
35,52544,006
Intangible assets, net
19,24117,037
20,34118,131
Other long-term assets
7,5889,818
6,77010,507
Total Assets
$
1,231,9941,763,440
$
1,229,1741,427,489
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
115,619154,624
$
89,191122,331
Current portion of finance lease obligationAccrued income taxes payable
21985,723
21525,687
Current portion of operating lease obligationDividends payable
55066,202
69136,656
Total current
liabilities
116,388306,549
90,097
Long-term finance lease obligation
327
438
Long-term operating lease obligation
797
1,034184,674
Other noncurrent liabilities
10,3069,410
10,41610,274
Deferred income taxes, net
106,753127,176
114,408128,196
Total liabilities
234,571443,135
216,393323,144
Commitments and contingencies - see
Note 139
—
—
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
66,01970,005
64,04467,989
Retained earnings
959,1241,281,784
975,9771,065,854
Accumulated other comprehensive loss, net of tax
(996)(3,087)
(558)(1,596)
Common stock in treasury at cost –
26,20426,126
shares at November
27, 202126, 2022 and
26,20226,121
shares at May 29, 202128, 2022
(27,450)(28,496)
(27,433)(28,447)
Total Cal-Maine Foods,
Inc. stockholders’ equity
997,4481,320,957
1,012,7811,104,551
Noncontrolling interest in consolidated entity
(25)(652)
0(206)
Total stockholders’
equity
997,4231,320,305
1,012,7811,104,345
Total Liabilities and Stockholders’
Equity
$
1,231,9941,763,440
$
1,229,1741,427,489
See Notes to Condensed Consolidated Financial Statements.