MGP INGREDIENTS INC
For the period ended Mar 31, 2024. Filed May 2, 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 2, 2024
MGPI$17.12-0.5%Stored close · as of Oct 30, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets (Unaudited)
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited) (Dollars in thousands)
| March 31, 2024 | December 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 | — | 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 | — |
| 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) | ||
| Stockholders’ Equity | ||
| 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 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.