v3.23.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents $ 21,959 $ 47,889
Receivables (less allowance for credit loss, $1,475 at both June 30, 2023, and December 31, 2022) 147,570 109,267
Inventory 343,826 289,722
Prepaid expenses 5,177 2,957
Refundable income taxes 2,317 4,327
Total current assets 520,849 454,162
Property, plant, and equipment 475,472 450,800
Less accumulated depreciation and amortization (224,823) (215,168)
Property, plant, and equipment, net 250,649 235,632
Operating lease right-of-use assets, net 17,122 15,042
Investment in joint ventures 4,955 5,534
Intangible assets, net 271,440 216,768
Goodwill 325,713 226,294
Other assets 4,401 4,779
Total assets 1,395,129 1,158,211
Current Liabilities    
Current maturities of long-term debt 6,400 5,600
Accounts payable 84,921 66,432
Federal and state excise taxes payable 5,946 4,627
Accrued expenses and other 21,384 28,716
Total current liabilities 118,651 105,375
Long-term debt, less current maturities 123,319 29,510
Convertible senior notes 195,385 195,225
Long-term operating lease liabilities 13,568 11,622
Contingent consideration 63,900 0
Other noncurrent liabilities 3,943 3,723
Deferred income taxes 69,241 67,112
Total liabilities 588,007 412,567
Commitments and Contingencies (Note 8)
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 June 30, 2023 and December 31, 2022; and 22,014,374 and 21,994,042 shares outstanding at June 30, 2023 and December 31, 2022, respectively 6,715 6,715
Additional paid-in capital 322,267 318,839
Retained earnings 500,933 443,061
Accumulated other comprehensive income (loss) (169) (304)
Treasury stock, at cost, 1,110,792 and 1,131,124 shares at June 30, 2023 and December 31, 2022, respectively (21,347) (21,591)
Total MGP Ingredients, Inc. stockholders’ equity 808,403 746,724
Noncontrolling interest (1,281) (1,080)
Total equity 807,122 745,644
Total liabilities and equity $ 1,395,129 $ 1,158,211

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