MGP Ingredients, Inc. (MGPI) Financial Statements (2023 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)

6/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments47,88921,56821,6623,3095,0253,084
Cash and cash equivalents47,88921,56821,6623,3095,0253,084
Receivables113,59498,07656,96641,91838,79734,347
Inventory, net of allowances, customer advances and progress billings289,722245,944141,011136,931108,76993,149
Inventory289,722245,944141,011136,931108,76993,149
Prepaid expense2,9571,5102,6442,0481,3202,182
Other undisclosed current assets     7121,980
Total current assets:454,162367,098222,283184,206154,623134,742
Noncurrent Assets
Operating lease, right-of-use asset15,0429,6715,1516,490
Property, plant and equipment235,632207,286131,992128,419120,788103,051
Long-term investments and receivables5,5344,944    
Long-term investments5,5344,944    
Intangible assets, net (including goodwill)443,062445,132   1,878
Goodwill226,294226,294   1,500
Intangible assets, net (excluding goodwill)216,768218,838   378
Other noncurrent assets4,7797,3367,1493,4822,4812,535
Other undisclosed noncurrent assets      (1,878)
Total noncurrent assets:704,049674,369144,292138,391123,269105,586
TOTAL ASSETS:1,158,2111,041,467366,575322,597277,892240,328
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities95,14885,57351,72938,89437,07741,208
Taxes payable6,992704   
Accounts payable66,43253,71230,27329,51125,36330,037
Accrued liabilities28,71624,86920,7529,38311,71411,171
Debt5,6003,2271,600401386372
Deferred compensation liability510     
Other undisclosed current liabilities4,117     
Total current liabilities:105,37588,80053,32939,29537,46341,580
Noncurrent Liabilities
Long-term debt and lease obligation, including:29,510230,17241,32840,65931,62824,182
Long-term debt, excluding current maturities29,51035,26638,27140,65821,0402,775
Other undisclosed long-term debt and lease obligation  187,909 (4,266)10,58821,407
Liabilities, other than long-term debt82,45774,2149,3928,6693,0882,691
Deferred revenue and credits2,151
Deferred revenue   2,1961,233
Contract with customer, liability1,565
Deferred compensation liability, classified 2,981 1,337  
Deferred income tax liabilities67,11266,1012,2981,929
Other liabilities3,7235,1324,8984,1701,523540
Operating lease, liability11,6226,9973,0574,267
Other undisclosed noncurrent liabilities195,2254,016 2,9304,2723,145
Total noncurrent liabilities:307,192308,40250,72052,25838,98830,018
Total liabilities:412,567397,202104,04991,55376,45171,598
Equity
Equity, attributable to parent746,724644,755262,526231,044201,441168,730
Preferred stock444444
Common stock6,7156,7156,7156,7156,7156,715
Treasury stock, value(21,591)(22,357)(23,125)(20,242)(19,403)(18,719)
Additional paid in capital318,839315,80215,50314,02915,37513,912
Accumulated other comprehensive income (loss)(304)354486(246)(164)(311)
Retained earnings443,061344,237262,943230,784198,914167,129
Equity, attributable to noncontrolling interest(1,080)(490)    
Total equity:745,644644,265262,526231,044201,441168,730
TOTAL LIABILITIES AND EQUITY:1,158,2111,041,467366,575322,597277,892240,328

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

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues782,358626,720395,521362,74519,78222,870
Revenue, net347,448
Financial services revenue11,381
Cost of revenue
(Cost of Goods and Services Sold)
(529,052)(427,755)(296,715)(286,213)(292,490)(271,432)
Other undisclosed gross profit     356,307324,578
Gross profit:253,306198,96598,80676,53283,59976,016
Operating expenses(74,627)(56,504)(44,565)(29,290)(33,451)(33,107)
Other operating expense, net
(Other undisclosed Other operating expense, net)
      
Other undisclosed operating loss(29,714)(16,098)    
Operating income:148,965126,36354,24147,24250,14842,909
Nonoperating expense
(Other Nonoperating expense)
(3,342)(1,230)    
Interest and debt expense (5,451)(4,037)(2,267)(1,305)(1,168)(1,184)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:140,172121,09651,97445,93748,98041,725
Loss from equity method investments      (348)
Other undisclosed income from continuing operations before income taxes  627  11,381
Income from continuing operations before income taxes:140,172121,09652,60145,93748,98052,758
Income tax expense(31,300)(30,279)(12,256)(7,144)(11,696)(10,935)
Income from continuing operations:108,87290,81740,34538,79337,28441,823
Income before gain (loss) on sale of properties:90,81740,34538,79337,28441,823
Net income:108,87290,81740,34538,79337,28441,823
Net income attributable to noncontrolling interest590490    
Net income attributable to parent:109,46291,30740,34538,79337,28441,823
Undistributed earnings (loss) allocated to participating securities, basic(871)(712)(261)(253)(708)(996)
Net income available to common stockholders, diluted:108,59190,59540,08438,54036,57640,827

Comprehensive Income ($ in thousands)

6/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:108,87290,81740,34538,79337,28441,823
Other comprehensive income (loss)(658)(132)(229)(14)(73)62
Comprehensive income:108,21490,68540,11638,77937,21141,885
Comprehensive income, net of tax, attributable to noncontrolling interest590490    
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   961(137)220 
Comprehensive income, net of tax, attributable to parent:108,80491,17541,07738,64237,43141,885

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.

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