DARLING INGREDIENTS INC
For the period ended Mar 30, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2024 · Filed May 7, 2024
DAR$51.57-1.8%Stored close · as of Nov 10, 2026
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Item 1. FINANCIAL STATEMENTS
CONSOLIDATED BALANCE SHEETS
March 30, 2024 and December 30, 2023
(in thousands, except share data)
| March 30,2024 | December 30,2023 | |
|---|---|---|
| ASSETS · (unaudited) | ||
| Current assets: | ||
| Cash and cash equivalents | $145,473 | $126,502 |
| Restricted cash | 4,086 | 292 |
| Accounts receivable, less allowance for bad debts of $15,936 at March 30, 2024 and $15,208 at December 30, 2023 | 623,936 | 626,008 |
| Accounts receivable due from related party - Diamond Green Diesel | — | 172,283 |
| Inventories | 687,485 | 758,739 |
| Prepaid expenses | 97,619 | 105,657 |
| Income taxes refundable | 32,464 | 23,599 |
| Other current assets | 28,247 | 42,586 |
| Total current assets | 1,619,310 | 1,855,666 |
| Property, plant and equipment, less accumulated depreciation of $2,431,378 at March 30, 2024 and $2,360,342 at December 30, 2023 | 2,910,335 | 2,935,185 |
| Intangible assets, less accumulated amortization of $523,801 at March 30, 2024 and $748,646 at December 30, 2023 | 1,057,123 | 1,075,892 |
| Goodwill | 2,498,457 | 2,484,502 |
| Investment in unconsolidated subsidiaries | 2,378,531 | 2,251,629 |
| Operating lease right-of-use assets | 215,880 | 205,539 |
| Other assets | 246,561 | 234,960 |
| Deferred income taxes | 16,572 | 17,711 |
| $10,942,769 | $11,061,084 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Current portion of long-term debt | $103,075 | $60,703 |
| Accounts payable, principally trade | 343,388 | 425,588 |
| Income taxes payable | 11,657 | 15,522 |
| Current operating lease liabilities | 59,480 | 55,325 |
| Accrued expenses | 449,694 | 440,999 |
| Total current liabilities | 967,294 | 998,137 |
| Long-term debt, net of current portion | 4,362,856 | 4,366,370 |
| Long-term operating lease liabilities | 161,296 | 154,903 |
| Other non-current liabilities | 303,927 | 349,809 |
| Deferred income taxes | 464,406 | 498,174 |
| Total liabilities | 6,259,779 | 6,367,393 |
| Commitments and contingencies | ||
| Stockholders’ equity: | ||
| Common stock, $0.01 par value; 250,000,000 shares authorized; 174,853,704 and 174,427,981 shares issued at March 30, 2024 and December 30, 2023, respectively | 1,749 | 1,744 |
| Additional paid-in capital | 1,712,349 | 1,697,787 |
| Treasury stock, at cost; 15,074,147 and 14,894,192 shares at March 30, 2024 and December 30, 2023, respectively | (636,916) | (629,008) |
| Accumulated other comprehensive loss | (298,464) | (198,346) |
| Retained earnings | 3,814,411 | 3,733,254 |
| Total Darling's stockholders’ equity | 4,593,129 | 4,605,431 |
| Noncontrolling interests | 89,861 | 88,260 |
| Total stockholders' equity | 4,682,990 | 4,693,691 |
| $10,942,769 | $11,061,084 | |
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