MGP Ingredients Inc. (MGPI) Financial Statements (2024 and earlier)

Company Profile

Business Address 1300 MAIN ST
ATCHISON, KS 66002
State of Incorp. KS
Fiscal Year End December 31
Industry (SIC) 518 - Beer, Wine, And Distilled Alcoholic Beverages (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments18,38847,88921,56821,6623,3095,025
Cash and cash equivalents18,38847,88921,56821,6623,3095,025
Receivables145,476113,59498,07656,96641,91838,797
Inventory, net of allowances, customer advances and progress billings346,853289,722245,944141,011136,931108,769
Inventory346,853289,722245,944141,011136,931108,769
Prepaid expense3,5802,9571,5102,6442,0481,320
Other undisclosed current assets      712
Total current assets:514,297454,162367,098222,283184,206154,623
Noncurrent Assets
Operating lease, right-of-use asset13,97515,0429,6715,1516,490
Property, plant and equipment262,303235,632207,286131,992128,419120,788
Long-term investments and receivables5,1975,5344,944   
Long-term investments5,1975,5344,944   
Intangible assets, net (including goodwill)593,250443,062445,132   
Goodwill321,544226,294226,294   
Intangible assets, net (excluding goodwill)271,706216,768218,838   
Other noncurrent assets3,3264,7797,3367,1493,4822,481
Total noncurrent assets:878,051704,049674,369144,292138,391123,269
TOTAL ASSETS:1,392,3481,158,2111,041,467366,575322,597277,892
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities105,45595,14885,57351,72938,89437,077
Taxes payable6,992704  
Accounts payable73,59466,43253,71230,27329,51125,363
Accrued liabilities31,86128,71624,86920,7529,38311,714
Debt6,4005,6003,2271,600401386
Deferred compensation liability74510    
Other undisclosed current liabilities2,1774,117    
Total current liabilities:114,106105,37588,80053,32939,29537,463
Noncurrent Liabilities
Long-term debt and lease obligation, including:280,84929,510230,17241,32840,65931,628
Long-term debt, excluding current maturities280,84929,51035,26638,27140,65821,040
Other undisclosed long-term debt and lease obligation   187,909 (4,266)10,588
Liabilities, other than long-term debt82,44082,45774,2149,3928,6693,088
Deferred revenue    2,1961,233
Contract with customer, liability1,565
Deferred compensation liability, classified3,314 2,981 1,337 
Deferred income tax liabilities63,07167,11266,1012,2981,929
Other liabilities4,7633,7235,1324,8984,1701,523
Operating lease, liability11,29211,6226,9973,0574,267
Other undisclosed noncurrent liabilities65,886195,2254,016 2,9304,272
Total noncurrent liabilities:429,175307,192308,40250,72052,25838,988
Total liabilities:543,281412,567397,202104,04991,55376,451
Equity
Equity, attributable to parent850,492746,724644,755262,526231,044201,441
Preferred stock444444
Common stock6,7156,7156,7156,7156,7156,715
Treasury stock, value(21,166)(21,591)(22,357)(23,125)(20,242)(19,403)
Additional paid in capital325,453318,839315,80215,50314,02915,375
Accumulated other comprehensive income (loss)(397)(304)354486(246)(164)
Retained earnings539,883443,061344,237262,943230,784198,914
Equity, attributable to noncontrolling interest(1,425)(1,080)(490)   
Total equity:849,067745,644644,265262,526231,044201,441
TOTAL LIABILITIES AND EQUITY:1,392,3481,158,2111,041,467366,575322,597277,892

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues836,523782,358626,720395,521362,74519,782
Cost of revenue
(Cost of Goods and Services Sold)
(531,811)(529,052)(427,755)(296,715)(286,213)(292,490)
Other undisclosed gross profit      356,307
Gross profit:304,712253,306198,96598,80676,53283,599
Operating expenses(110,786)(74,627)(56,504)(44,565)(29,290)(33,451)
Other undisclosed operating loss(45,313)(29,714)(16,098)   
Operating income:148,613148,965126,36354,24147,24250,148
Nonoperating expense
(Other Nonoperating expense)
(220)(3,342)(1,230)   
Interest and debt expense (6,647)(5,451)(4,037)(2,267)(1,305)(1,168)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:141,746140,172121,09651,97445,93748,980
Other undisclosed income (loss) from continuing operations before income taxes   627  
Income from continuing operations before income taxes:141,746140,172121,09652,60145,93748,980
Income tax expense(34,616)(31,300)(30,279)(12,256)(7,144)(11,696)
Income from continuing operations:107,130108,87290,81740,34538,79337,284
Income before gain (loss) on sale of properties:90,81740,34538,79337,284
Net income:107,130108,87290,81740,34538,79337,284
Net income attributable to noncontrolling interest345590490   
Net income attributable to parent:107,475109,46291,30740,34538,79337,284
Undistributed earnings (loss) allocated to participating securities, basic(1,074)(871)(712)(261)(253)(708)
Net income available to common stockholders, diluted:106,401108,59190,59540,08438,54036,576

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:107,130108,87290,81740,34538,79337,284
Other comprehensive loss(93)(658)(132)(229)(14)(73)
Comprehensive income:107,037108,21490,68540,11638,77937,211
Comprehensive income, net of tax, attributable to noncontrolling interest345590490   
Other undisclosed comprehensive income (loss), net of tax, attributable to parent    961(137)220
Comprehensive income, net of tax, attributable to parent:107,382108,80491,17541,07738,64237,431

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: