Mayville Engineering Company Inc
For the period ended Mar 31, 2024. Filed May 8, 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 31, 2024 · Filed May 8, 2024
MEC$14.11+7.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Balance Sheets
(in thousands, except share amounts)
| | | | | | | |
|---|---|---|---|---|---|---|
| · March 31, · December 31, | ||||||
| · · 2024 · · 2023 | ||||||
| ASSETS · · · · | ||||||
| Cash and cash equivalents | | $314 | | $672 | ||
| Receivables, net of allowances for doubtful accounts of $669 at March 31, 2024and $685 at December 31, 2023 | | 70,331 | | 57,445 | ||
| Inventories, net | | 66,106 | | 67,782 | ||
| Tooling in progress | | 5,232 | | 5,457 | ||
| Prepaid expenses and other current assets | | 3,523 | | 3,267 | ||
| Total current assets | | 145,506 | | 134,623 | ||
| Property, plant and equipment, net | | 172,095 | | 175,745 | ||
| Goodwill | | 92,650 | | 92,650 | ||
| Intangible assets, net | | 56,934 | | 58,667 | ||
| Operating lease assets | | | 31,018 | | | 32,233 |
| Other long-term assets | | 1,698 | | 2,743 | ||
| Total assets | | $499,901 | | $496,661 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | | | ||||
| Accounts payable | | $54,457 | | $46,526 | ||
| Current portion of operating lease obligation | | | 5,010 | | | 5,064 |
| Accrued liabilities: | | | | | ||
| Salaries, wages, and payroll taxes | | 6,131 | | 6,368 | ||
| Profit sharing and bonus | | 1,455 | | 3,107 | ||
| Other current liabilities | | 12,093 | | 10,644 | ||
| Total current liabilities | | 79,146 | | 71,709 | ||
| Bank revolving credit notes | | 139,817 | | 147,493 | ||
| Operating lease obligation, less current maturities | | | 27,532 | | | 28,606 |
| Deferred compensation, less current portion | | 4,182 | | 3,816 | ||
| Deferred income tax liability | | 12,847 | | 12,606 | ||
| Other long-term liabilities | | 2,340 | | 2,453 | ||
| Total liabilities | | $265,864 | | $266,683 | ||
| Commitments and contingencies (see Note 9) | | | ||||
| Common shares, no par value, 75,000,000 authorized, 22,009,409 shares issued atMarch 31, 2024 and 21,853,477 at December 31, 2023 | | — | | — | ||
| Additional paid-in-capital | | 206,191 | | 205,373 | ||
| Retained earnings | | 37,359 | | 34,118 | ||
| Treasury shares at cost, 1,542,893 shares at March 31, 2024 and December 31, 2023 | | (9,513) | | (9,513) | ||
| Total shareholders’ equity | | 234,037 | | 229,978 | ||
| Total | | $499,901 | | $496,661 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.