$LANC
LANCASTER COLONY CORP

2020 Q3 Form 10-Q Financial Statement

#000005751520000029 Filed on November 04, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $349.2M $337.1M
YoY Change 3.61% 6.44%
Cost Of Revenue $256.6M $244.9M
YoY Change 4.75% 4.03%
Gross Profit $92.65M $92.11M
YoY Change 0.59% 13.43%
Gross Profit Margin 26.53% 27.33%
Selling, General & Admin $48.20M $39.46M
YoY Change 22.16% 22.99%
% of Gross Profit 52.02% 42.84%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.41M $8.750M
YoY Change 18.96% 26.01%
% of Gross Profit 11.23% 9.5%
Operating Expenses $48.20M $39.46M
YoY Change 22.16% 22.99%
Operating Profit $48.95M $51.70M
YoY Change -5.33% 5.26%
Interest Expense $0.00
YoY Change
% of Operating Profit 0.0%
Other Income/Expense, Net $4.000K $1.427M
YoY Change -99.72% 8.6%
Pretax Income $48.95M $53.13M
YoY Change -7.87% 5.35%
Income Tax $11.87M $12.39M
% Of Pretax Income 24.25% 23.31%
Net Earnings $37.08M $40.75M
YoY Change -9.0% 4.4%
Net Earnings / Revenue 10.62% 12.09%
Basic Earnings Per Share
Diluted Earnings Per Share $1.349M $1.48
COMMON SHARES
Basic Shares Outstanding 27.46M shares 27.44M shares
Diluted Shares Outstanding 27.50M shares 27.52M shares

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $186.1M $173.5M
YoY Change 7.26% -20.38%
Cash & Equivalents $186.1M $173.5M
Short-Term Investments
Other Short-Term Assets $14.76M $9.211M
YoY Change 60.29% 45.86%
Inventory $110.6M $94.43M
Prepaid Expenses
Receivables $97.00M $91.60M
Other Receivables $0.00 $0.00
Total Short-Term Assets $408.4M $368.7M
YoY Change 10.78% -10.19%
LONG-TERM ASSETS
Property, Plant & Equipment $299.5M $280.9M
YoY Change 6.63% 43.46%
Goodwill $208.4M $208.4M
YoY Change 0.0% 24.01%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $19.34M $10.87M
YoY Change 77.89% 1.62%
Total Long-Term Assets $616.0M $593.7M
YoY Change 3.75% 38.16%
TOTAL ASSETS
Total Short-Term Assets $408.4M $368.7M
Total Long-Term Assets $616.0M $593.7M
Total Assets $1.024B $962.3M
YoY Change 6.45% 14.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.23M $84.50M
YoY Change 3.24% 25.21%
Accrued Expenses $52.59M $52.08M
YoY Change 0.98% 30.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K
YoY Change
Total Short-Term Liabilities $139.8M $136.6M
YoY Change 2.38% 27.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.400M
YoY Change -100.0%
Other Long-Term Liabilities $25.92M $32.81M
YoY Change -20.99% -20.56%
Total Long-Term Liabilities $25.92M $32.81M
YoY Change -20.99% -20.56%
TOTAL LIABILITIES
Total Short-Term Liabilities $139.8M $136.6M
Total Long-Term Liabilities $25.92M $32.81M
Total Liabilities $165.7M $169.4M
YoY Change -2.15% 13.83%
SHAREHOLDERS EQUITY
Retained Earnings $1.439B $1.383B
YoY Change 4.07% 6.21%
Common Stock $125.1M $124.2M
YoY Change 0.74% 3.48%
Preferred Stock
YoY Change
Treasury Stock (at cost) $750.9M $746.9M
YoY Change 0.54% 0.98%
Treasury Stock Shares
Shareholders Equity $801.1M $749.7M
YoY Change
Total Liabilities & Shareholders Equity $1.024B $962.3M
YoY Change 6.45% 14.54%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $37.08M $40.75M
YoY Change -9.0% 4.4%
Depreciation, Depletion And Amortization $10.41M $8.750M
YoY Change 18.96% 26.01%
Cash From Operating Activities $23.64M $40.10M
YoY Change -41.03% -1.87%
INVESTING ACTIVITIES
Capital Expenditures $14.41M $43.19M
YoY Change -66.63% 343.42%
Acquisitions
YoY Change
Other Investing Activities $137.0K $156.0K
YoY Change -12.18% 119.72%
Cash From Investing Activities -$14.55M -$43.35M
YoY Change -66.44% 341.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.00K $1.465M
YoY Change -98.98% -8.04%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$21.28M -$19.58M
YoY Change 8.7% 3.77%
NET CHANGE
Cash From Operating Activities $23.64M $40.10M
Cash From Investing Activities -$14.55M -$43.35M
Cash From Financing Activities -$21.28M -$19.58M
Net Change In Cash -$12.19M -$22.83M
YoY Change -46.62% -287.37%
FREE CASH FLOW
Cash From Operating Activities $23.64M $40.10M
Capital Expenditures $14.41M $43.19M
Free Cash Flow $9.232M -$3.094M
YoY Change -398.38% -109.94%

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CY2019Q3 us-gaap Net Cash Provided By Used In Investing Activities
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19270000 USD
CY2019Q3 us-gaap Payments Of Dividends Common Stock
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CY2020Q3 us-gaap Payments For Repurchase Of Common Stock
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15000 USD
CY2019Q3 us-gaap Payments For Repurchase Of Common Stock
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1465000 USD
CY2020Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1854000 USD
CY2019Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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125000 USD
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-141000 USD
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CY2019Q3 us-gaap Net Cash Provided By Used In Financing Activities
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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-22827000 USD
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StockholdersEquity
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OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-21000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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5606000 USD
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32800000 USD
CY2020Q3 us-gaap Net Income Loss
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CY2019Q3 us-gaap Net Income Loss
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40745000 USD
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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79000 USD
CY2019Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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67000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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37000000 USD
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
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40678000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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27461000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27442000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
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3000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
3000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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31000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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72000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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27495000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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27517000 shares
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
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1.35
CY2019Q3 us-gaap Earnings Per Share Basic And Diluted
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12070000 USD
CY2019Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
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10308000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
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-91000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-29000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-21000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-94000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-70000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
11976000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
10238000 USD
CY2020Q3 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
3470000 USD
CY2020Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
9157000 USD
CY2020Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
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150000000 USD
CY2020Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 USD
CY2020Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 USD
CY2020Q2 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 USD
CY2020Q3 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2025-03-19
CY2020Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2020Q3 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
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2800000 USD
CY2020Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 USD
CY2019Q3 us-gaap Interest Paid
InterestPaid
0 USD
CY2020Q3 us-gaap Interest Paid
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0 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
62680000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
65216000 USD
CY2020Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1200000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
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1341000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1274000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4739000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4180000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4180000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3920000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3272000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
349237000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
337054000 USD
CY2020Q3 us-gaap Operating Income Loss
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48948000 USD
CY2019Q3 us-gaap Operating Income Loss
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51704000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
349237000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
337054000 USD

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