3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except for par value amounts)
February 26, 2022
May 29, 2021
Assets
Current assets:
Cash and cash equivalents
$
15,589
$
57,352
Investment securities available-for-sale
81,125
112,158
Trade and other receivables, net
138,654
84,123
Income tax receivable
41,383
42,516
Inventories
240,087
218,375
Prepaid expenses and other current assets
5,872
5,407
Total current assets
522,710
519,931
Property, plant & equipment, net
671,373
589,417
Finance lease right-of-use asset, net
409
525
Operating lease right-of-use asset, net
1,168
1,724
Investments in unconsolidated entities
15,794
54,941
Goodwill
44,006
35,525
Intangible assets, net
18,686
20,341
Other long-term assets
7,849
6,770
Total Assets
$
1,281,995
$
1,229,174
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
120,665
$
89,191
Current portion of finance lease obligation
222
215
Current portion of operating lease obligation
486
691
Total current liabilities
121,373
90,097
Long-term finance lease obligation
271
438
Long-term operating lease obligation
682
1,034
Other noncurrent liabilities
10,673
10,416
Deferred income taxes, net
118,753
114,408
Total liabilities
251,752
216,393
Commitments and contingencies - see Note 13
—
—
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
66,909
64,044
Retained earnings
992,523
975,977
Accumulated other comprehensive loss, net of tax
(1,413)
(558)
Common stock in treasury at cost –
26,121
shares at February 26, 2022 and
26,202
shares at May 29, 2021
(28,439)
(27,433)
Total Cal-Maine Foods, Inc. stockholders’ equity
1,030,331
1,012,781
Noncontrolling interest in consolidated entity
(88)
—
Total stockholders’ equity
1,030,243
1,012,781
Total Liabilities and Stockholders’ Equity
$
1,281,995
$
1,229,174
See Notes to Condensed Consolidated Financial Statements.