TOOTSIE ROLL INDUSTRIES INC

For the period ended Mar 31, 2025. Filed May 9, 2025.

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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, 2025 · Filed May 9, 2025

TR$38.96-0.5%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Financial Position

(in thousands) (Unaudited)



· · March 31, 2025 · · December 31, 2024 · · March 31, 2024

ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$119,528	$138,841	$64,886
Restricted cash	367	352	367
Investments	57,079	55,789	94,475
Accounts receivable trade, less allowances of $2,337, $2,184 and $2,543	39,914	43,811	44,257
Other receivables	6,125	6,832	6,412
Inventories:
Finished goods and work-in-process	57,047	43,603	61,498
Raw materials and supplies	39,407	34,022	46,775
Prepaid expenses	9,649	10,355	9,870
Total current assets	329,116	333,605	328,540

PROPERTY, PLANT AND EQUIPMENT, at cost:
Land	21,723	21,710	21,864
Buildings	148,804	148,778	144,966
Machinery and equipment	499,519	499,210	485,012
Construction in progress	11,797	6,820	14,182
Operating lease right-of-use assets	5,791	6,043	6,896
	687,634	682,561	672,920
Less - accumulated depreciation	467,341	462,758	451,829
Net property, plant and equipment	220,293	219,803	221,091

OTHER ASSETS:
Goodwill	73,237	73,237	73,237
Trademarks	175,024	175,024	175,024
Investments	330,949	332,338	278,953
Prepaid expenses and other assets	11,531	11,633	14,921
Deferred income taxes	1,550	1,541	1,687
Total other assets	592,291	593,773	543,822
Total assets	$1,141,700	$1,147,181	$1,093,453

(in thousands except per share data) (Unaudited)



· · March 31, 2025 · · December 31, 2024 · · March 31, 2024

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES:
Accounts payable	$20,268	$13,397	$17,200
Bank loans	975	924	1,050
Dividends payable	147	6,403	152
Accrued liabilities	54,024	63,607	55,026
Postretirement health care benefits	595	595	665
Operating lease liabilities	1,375	1,374	1,387
Income taxes payable	794	636	11,788
Deferred compensation	—	350	—
Total current liabilities	78,178	87,286	87,268

NONCURRENT LIABILITIES:
Deferred income taxes	55,692	54,537	45,486
Postretirement health care benefits	8,666	8,701	9,661
Industrial development bonds	7,500	7,500	7,500
Liability for uncertain tax positions	2,564	2,564	2,876
Operating lease liabilities	4,752	4,992	5,776
Deferred compensation and other liabilities	105,347	111,192	100,780
Total noncurrent liabilities	184,521	189,486	172,079

TOOTSIE ROLL INDUSTRIES, INC. SHAREHOLDERS’ EQUITY:
Common stock, $0.694 par value - 120,000 shares authorized; 41,796, 40,789 and 41,211, respectively, issued	29,025	28,325	28,619
Class B common stock, $0.694 par value - 40,000 shares authorized; 31,191, 30,286 and 30,311, respectively, issued	21,660	21,032	21,049
Capital in excess of par value	847,308	788,894	802,253
Retained earnings	3,155	57,902	6,147
Accumulated other comprehensive loss	(19,804)	(23,418)	(21,656)
Treasury stock (at cost) - 108, 105 and 105 shares, respectively	(1,992)	(1,992)	(1,992)
Total Tootsie Roll Industries, Inc. shareholders’ equity	879,352	870,743	834,420
Noncontrolling interests	(351)	(334)	(314)
Total equity	879,001	870,409	834,106
Total liabilities and shareholders’ equity	$1,141,700	$1,147,181	$1,093,453

CONDENSED CONSOLIDATED STATEMENTS OF

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