v3.24.1.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 19,497 $ 18,388
Receivables (less allowance for credit loss, $1,475 at both March 31, 2024, and December 31, 2023) 133,005 144,286
Inventory 348,934 346,853
Prepaid expenses 5,483 3,580
Refundable income taxes 0 1,190
Total current assets 506,919 514,297
Property, plant, and equipment 502,744 489,646
Less accumulated depreciation and amortization (231,849) (227,343)
Property, plant, and equipment, net 270,895 262,303
Operating lease right-of-use assets, net 11,258 13,975
Investment in joint ventures 4,901 5,197
Intangible assets, net 270,893 271,706
Goodwill 321,544 321,544
Other assets 3,872 3,326
Total assets 1,390,282 1,392,348
Current Liabilities    
Current maturities of long-term debt 6,400 6,400
Accounts payable 49,559 73,594
Federal and state excise taxes payable 3,800 2,251
Income taxes payable 4,340 0
Accrued expenses and other 16,159 31,861
Total current liabilities 80,258 114,106
Long-term debt, less current maturities 98,799 85,305
Convertible senior notes 195,624 195,544
Long-term operating lease liabilities 9,229 11,292
Contingent consideration 73,300 69,200
Other noncurrent liabilities 3,813 4,763
Deferred income taxes 63,716 63,071
Total liabilities 524,739 543,281
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 March 31, 2024 and December 31, 2023; and 22,009,057 and 22,016,113 shares outstanding at March 31, 2024 and December 31, 2023, respectively 6,715 6,715
Additional paid-in capital 329,460 325,453
Retained earnings 557,848 539,883
Accumulated other comprehensive loss (437) (397)
Treasury stock, at cost, 1,116,109 and 1,109,053 shares at March 31, 2024 and December 31, 2023, respectively (26,571) (21,166)
Total MGP Ingredients, Inc. stockholders’ equity 867,019 850,492
Noncontrolling interest (1,476) (1,425)
Total equity 865,543 849,067
Total liabilities and equity $ 1,390,282 $ 1,392,348

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