v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 28,030 $ 47,889
Receivables (less allowance for credit loss, $1,475 at both September 30, 2023, and December 31, 2022) 126,692 109,267
Inventory 342,401 289,722
Prepaid expenses 4,600 2,957
Refundable income taxes 2,193 4,327
Total current assets 503,916 454,162
Property, plant, and equipment 465,746 450,800
Less accumulated depreciation and amortization (222,497) (215,168)
Property, plant, and equipment, net 243,249 235,632
Operating lease right-of-use assets, net 15,551 15,042
Investment in joint ventures 5,343 5,534
Intangible assets, net 272,520 216,768
Goodwill 321,544 226,294
Other assets 4,242 4,779
Total assets 1,366,365 1,158,211
Current Liabilities    
Current maturities of long-term debt 6,400 5,600
Accounts payable 54,403 66,432
Federal and state excise taxes payable 2,719 4,627
Accrued expenses and other 26,586 28,716
Total current liabilities 90,108 105,375
Long-term debt, less current maturities 114,812 29,510
Convertible senior notes 195,465 195,225
Long-term operating lease liabilities 12,606 11,622
Contingent consideration 66,300 0
Other noncurrent liabilities 3,888 3,723
Deferred income taxes 65,000 67,112
Total liabilities 548,179 412,567
Commitments and Contingencies (Note 9)
Capital stock    
Preferred, 5% non-cumulative; $10 par value; authorized 1,000 shares; issued and outstanding 437 shares 4 4
Common stock    
No par value; authorized 40,000,000 shares; issued 23,125,166 shares at September 30, 2023 and December 31, 2022; and 22,015,196 and 21,994,042 shares outstanding at September 30, 2023 and December 31, 2022, respectively 6,715 6,715
Additional paid-in capital 323,129 318,839
Retained earnings 511,480 443,061
Accumulated other comprehensive loss (478) (304)
Treasury stock, at cost, 1,109,970 and 1,131,124 shares at September 30, 2023 and December 31, 2022, respectively (21,260) (21,591)
Total MGP Ingredients, Inc. stockholders’ equity 819,590 746,724
Noncontrolling interest (1,404) (1,080)
Total equity 818,186 745,644
Total liabilities and equity $ 1,366,365 $ 1,158,211

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