3
INFORMATION
ITEM 1.
FINANCIAL STATEMENTS
Cal-Maine Foods, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands, except for par value amounts)
August 28, 2021
May 29, 2021
Assets
Current assets:
Cash and cash equivalents
$
16,684
$
57,352
Investment securities available-for-sale
73,666
112,158
Trade and other receivables, net
134,400
126,639
Inventories
226,470
218,375
Prepaid expenses and other current assets
9,249
5,407
460,469
519,931
Property, plant &
equipment, net
667,963
589,417
Finance lease right-of-use asset, net
486
525
Operating lease right-of-use asset, net
1,533
1,724
Investments in unconsolidated entities
10,722
54,941
Goodwill
44,006
35,525
Intangible assets, net
19,798
20,341
Other long-term assets
6,753
6,770
Total Assets
$
1,211,730
$
1,229,174
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable and accrued expenses
$
96,709
$
89,191
Current portion of finance lease obligation
217
215
Current portion of operating lease obligation
617
691
Total current
liabilities
97,543
90,097
Long-term finance lease obligation
383
438
Long-term operating lease obligation
916
1,034
Other noncurrent liabilities
10,325
10,416
Deferred income taxes
106,996
114,408
Total liabilities
216,163
216,393
Commitments and contingencies - see
Note 13
0
0
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
65,044
64,044
Retained earnings
957,951
975,977
Accumulated other comprehensive loss, net of tax
(728)
(558)
Common stock in treasury at cost –
26,203
shares at August 28, 2021 and
26,202
at May 29, 2021
(27,451)
(27,433)
Total stockholders’
equity
995,567
1,012,781
Total Liabilities and Stockholders’
Equity
$
1,211,730
$
1,229,174
See Notes to Condensed Consolidated Financial Statements.