v3.25.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 20,112 $ 25,273
Receivables (less allowance for credit loss, $1,875 at both March 31, 2025, and December 31, 2024) 107,827 148,488
Inventory 378,243 364,944
Prepaid expenses 5,002 3,983
Refundable income taxes 5,542 3,448
Total current assets 516,726 546,136
Property, plant, and equipment 570,962 562,714
Less accumulated depreciation and amortization (251,064) (246,042)
Property, plant, and equipment, net 319,898 316,672
Operating lease right-of-use assets, net 16,294 15,540
Investment in joint venture 7,281 7,024
Intangible assets, net 267,638 268,451
Goodwill 247,789 247,789
Other assets 2,576 4,173
Total assets 1,378,202 1,405,785
Current Liabilities    
Current maturities of long-term debt 6,400 6,400
Accounts payable 54,400 66,336
Contingent consideration, current 100,000 0
Federal and state excise taxes payable 5,260 5,358
Accrued expenses and other 16,282 14,356
Total current liabilities 182,342 92,450
Long-term debt, less current maturities 94,771 121,277
Convertible senior notes 195,943 195,864
Long-term operating lease liabilities 12,749 11,940
Contingent consideration 0 85,300
Other noncurrent liabilities 2,210 2,981
Deferred income taxes 63,494 63,430
Total liabilities 551,509 573,242
Commitments and Contingencies (Note 7)
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 March 31, 2025 and December 31, 2024; and 21,270,343 and 21,194,707 shares outstanding at March 31, 2025 and December 31, 2024, respectively 6,715 6,715
Additional paid-in capital 328,935 332,195
Retained earnings 558,327 563,929
Accumulated other comprehensive loss (362) (658)
Treasury stock, at cost, 1,854,823 and 1,930,459 shares at March 31, 2025 and December 31, 2024, respectively (65,270) (68,019)
Total MGP Ingredients, Inc. stockholders’ equity 828,349 834,166
Noncontrolling interest (1,656) (1,623)
Total equity 826,693 832,543
Total liabilities and equity $ 1,378,202 $ 1,405,785

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