$LANC
LANCASTER COLONY CORP

2021 Q3 Form 10-Q Financial Statement

#000005751521000021 Filed on November 03, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2020 Q3
Revenue $392.1M $349.2M
YoY Change 12.26% 3.61%
Cost Of Revenue $299.7M $256.6M
YoY Change 16.8% 4.75%
Gross Profit $92.37M $92.65M
YoY Change -0.31% 0.59%
Gross Profit Margin 23.56% 26.53%
Selling, General & Admin $51.86M $48.20M
YoY Change 7.59% 22.16%
% of Gross Profit 56.14% 52.02%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.26M $10.41M
YoY Change 8.19% 18.96%
% of Gross Profit 12.19% 11.23%
Operating Expenses $51.86M $48.20M
YoY Change 7.59% 22.16%
Operating Profit $40.51M $48.95M
YoY Change -17.24% -5.33%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $20.00K $4.000K
YoY Change 400.0% -99.72%
Pretax Income $40.53M $48.95M
YoY Change -17.2% -7.87%
Income Tax $9.876M $11.87M
% Of Pretax Income 24.37% 24.25%
Net Earnings $30.66M $37.08M
YoY Change -17.33% -9.0%
Net Earnings / Revenue 7.82% 10.62%
Basic Earnings Per Share $1.11
Diluted Earnings Per Share $1.114M $1.349M
COMMON SHARES
Basic Shares Outstanding 27.46M shares 27.46M shares
Diluted Shares Outstanding 27.52M shares 27.50M shares

Balance Sheet

Concept 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $130.1M $186.1M
YoY Change -30.1% 7.26%
Cash & Equivalents $130.1M $186.1M
Short-Term Investments
Other Short-Term Assets $13.03M $14.76M
YoY Change -11.72% 60.29%
Inventory $158.4M $110.6M
Prepaid Expenses
Receivables $108.4M $97.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $409.9M $408.4M
YoY Change 0.35% 10.78%
LONG-TERM ASSETS
Property, Plant & Equipment $392.0M $299.5M
YoY Change 30.91% 6.63%
Goodwill $208.4M $208.4M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.09M $19.34M
YoY Change 19.38% 77.89%
Total Long-Term Assets $705.3M $616.0M
YoY Change 14.5% 3.75%
TOTAL ASSETS
Total Short-Term Assets $409.9M $408.4M
Total Long-Term Assets $705.3M $616.0M
Total Assets $1.115B $1.024B
YoY Change 8.86% 6.45%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $127.8M $87.23M
YoY Change 46.45% 3.24%
Accrued Expenses $52.03M $52.59M
YoY Change -1.05% 0.98%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $179.8M $139.8M
YoY Change 28.59% 2.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $27.50M $25.92M
YoY Change 6.08% -20.99%
Total Long-Term Liabilities $27.50M $25.92M
YoY Change 6.08% -20.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $179.8M $139.8M
Total Long-Term Liabilities $27.50M $25.92M
Total Liabilities $207.3M $165.7M
YoY Change 25.07% -2.15%
SHAREHOLDERS EQUITY
Retained Earnings $1.492B $1.439B
YoY Change 3.7% 4.07%
Common Stock $130.8M $125.1M
YoY Change 4.61% 0.74%
Preferred Stock
YoY Change
Treasury Stock (at cost) $764.8M $750.9M
YoY Change 1.84% 0.54%
Treasury Stock Shares
Shareholders Equity $850.1M $801.1M
YoY Change
Total Liabilities & Shareholders Equity $1.115B $1.024B
YoY Change 8.86% 6.45%

Cashflow Statement

Concept 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $30.66M $37.08M
YoY Change -17.33% -9.0%
Depreciation, Depletion And Amortization $11.26M $10.41M
YoY Change 8.19% 18.96%
Cash From Operating Activities -$1.172M $23.64M
YoY Change -104.96% -41.03%
INVESTING ACTIVITIES
Capital Expenditures $30.23M $14.41M
YoY Change 109.75% -66.63%
Acquisitions
YoY Change
Other Investing Activities -$134.0K $137.0K
YoY Change -197.81% -12.18%
Cash From Investing Activities -$30.09M -$14.55M
YoY Change 106.85% -66.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.329M $15.00K
YoY Change 35426.67% -98.98%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$26.70M -$21.28M
YoY Change 25.47% 8.7%
NET CHANGE
Cash From Operating Activities -$1.172M $23.64M
Cash From Investing Activities -$30.09M -$14.55M
Cash From Financing Activities -$26.70M -$21.28M
Net Change In Cash -$57.97M -$12.19M
YoY Change 375.72% -46.62%
FREE CASH FLOW
Cash From Operating Activities -$1.172M $23.64M
Capital Expenditures $30.23M $14.41M
Free Cash Flow -$31.40M $9.232M
YoY Change -440.11% -398.38%

Facts In Submission

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CY2020Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
137000 USD
CY2021Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-30093000 USD
CY2020Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-14548000 USD
CY2021Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
20675000 USD
CY2020Q3 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
19270000 USD
CY2021Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5329000 USD
CY2020Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
15000 USD
CY2021Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
59000 USD
CY2020Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1854000 USD
CY2021Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-638000 USD
CY2020Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-141000 USD
CY2021Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-26701000 USD
CY2020Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-21280000 USD
CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-57966000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-12185000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
188055000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
198273000 USD
CY2021Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
130089000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
186088000 USD
CY2021Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
15000 USD
CY2020Q3 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1617000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
843147000 USD
CY2021Q3 us-gaap Net Income Loss
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30655000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-13000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-42000 USD
CY2021Q3 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.75
CY2021Q3 us-gaap Dividends Common Stock Cash
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20675000 USD
CY2021Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
5329000 USD
CY2021Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
59000 USD
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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2274000 USD
CY2021Q3 us-gaap Stockholders Equity
StockholdersEquity
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CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
783300000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
37079000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-29000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-94000 USD
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CommonStockDividendsPerShareCashPaid
0.70
CY2020Q3 us-gaap Dividends Common Stock Cash
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19270000 USD
CY2020Q3 us-gaap Treasury Stock Value Acquired Cost Method
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15000 USD
CY2020Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1854000 USD
CY2020Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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1772000 USD
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225000000 USD
CY2020Q3 us-gaap Stockholders Equity
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801106000 USD
CY2021Q3 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
300000 USD
CY2020Q3 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1600000 USD
CY2021Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
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22685000 USD
CY2020Q3 us-gaap Construction In Progress Expenditures Incurred But Not Yet Paid
ConstructionInProgressExpendituresIncurredButNotYetPaid
3556000 USD
CY2021Q3 us-gaap Employee Related Liabilities Current
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18200000 USD
CY2021Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
32500000 USD
CY2021Q3 us-gaap Net Income Loss
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30655000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
37079000 USD
CY2021Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
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87000 USD
CY2020Q3 us-gaap Participating Securities Distributed And Undistributed Earnings Loss Diluted
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossDiluted
79000 USD
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
30568000 USD
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
37000000 USD
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27459000 shares
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27461000 shares
CY2021Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
49000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
31000 shares
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27515000 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27495000 shares
CY2021Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.11
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
1.35
CY2021Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
8253000 USD
CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
12070000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-55000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-123000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-13000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-29000 USD
CY2021Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
225000000 USD
CY2021Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-42000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-94000 USD
CY2021Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
8211000 USD
CY2020Q3 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
11976000 USD
CY2021Q2 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 USD
CY2021Q3 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
150000000 USD
CY2021Q3 us-gaap Interest Paid
InterestPaid
0 USD
CY2020Q3 us-gaap Interest Paid
InterestPaid
0 USD
CY2021Q3 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2025-03-19
CY2021Q3 lanc Minimum Interest Coverage Ratio
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2.5
CY2021Q3 lanc Maximum Leverage Ratio
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3.5
CY2021Q3 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q2 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2021Q2 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 USD
CY2021Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
2800000 USD
CY2021Q3 us-gaap Interest Paid
InterestPaid
0 USD
CY2020Q3 us-gaap Interest Paid
InterestPaid
0 USD
CY2021Q3 us-gaap Other Commitment
OtherCommitment
78000000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
57625000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
58766000 USD
CY2020Q3 us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
1200000 USD
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1141000 USD
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1341000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
4180000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
4180000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3920000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3290000 USD
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3119000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
392056000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
349237000 USD
CY2021Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
40511000 USD
CY2020Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
48948000 USD
CY2021Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
392056000 USD
CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
349237000 USD

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