FLEXSTEEL INDUSTRIES INC
For the period ended Jun 30, 2024. Filed Aug 30, 2024.
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FY2024 · Filed Aug 30, 2024
FLXS$72.73-1.9%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheets at June 30, 2024 and 2023
Consolidated Balance Sheets
| June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $4,761 | $3,365 |
| Trade receivables - less allowances: 2024, $2,440; 2023, $2,600 | 44,238 | 38,168 |
| Inventories | 96,577 | 122,076 |
| Other | 8,098 | 6,417 |
| Assets held for sale | 1,707 | 616 |
| Total current assets | 155,381 | 170,642 |
| NONCURRENT ASSETS: | ||
| Property, plant and equipment, net | 36,709 | 38,652 |
| Operating lease right-of-use assets | 61,439 | 68,294 |
| Deferred income taxes | 8,607 | 7,154 |
| Other assets | 12,326 | 5,808 |
| TOTAL | $274,462 | $290,550 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable - trade | $25,830 | $24,745 |
| Current portion of operating lease liabilities | 7,517 | 7,179 |
| Accrued liabilities: | ||
| Payroll and related items | 12,059 | 9,955 |
| Insurance | 1,900 | 1,920 |
| Sales and advertising related items | 6,073 | 5,358 |
| Other | 7,027 | 5,948 |
| Total current liabilities | 60,406 | 55,105 |
| LONG-TERM LIABILITIES: | ||
| Operating lease liabilities, less current maturities | 58,076 | 64,974 |
| Line of credit | 4,822 | 28,273 |
| Other liabilities | 791 | 577 |
| Total liabilities | 124,095 | 148,929 |
| COMMITMENTS AND CONTINGENCIES (Note 13) | ||
| SHAREHOLDERS' EQUITY: | ||
| Common stock - $1 par value; authorized 15,000 shares; 8,407 shares issued and 5,200 shares outstanding as of June 30, 2024, and 8,292 shares issued and 5,174 shares outstanding as of June 30, 2023 | 8,407 | 8,292 |
| Additional paid-in capital | 39,573 | 36,605 |
| Treasury stock, at cost; 3,207 shares and 3,118 shares as of June 30, 2024 and 2023, respectively | (71,731) | (70,072) |
| Retained earnings | 174,118 | 166,796 |
| Total shareholders' equity | 150,367 | 141,621 |
| TOTAL | $274,462 | $290,550 |
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