| Jun'19 | Jun'18 | Jun'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 |
|---|---|---|---|---|---|---|---|---|---|
Operating activities: | |||||||||
Net income (loss), including noncontrolling interests | |||||||||
55,062 | 126,196 | -74,427 | 318,047 | 162,281 | 109,807 | 50,761 | 89,967 | 58,268 | 65,532 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||||
Depreciation and amortization | |||||||||
54,650 | 54,026 | 49,113 | 44,592 | 40,708 | 37,203 | 34,173 | 30,752 | 30,754 | 31,785 |
Deferred income taxes | |||||||||
6,123 | -33,809 | 14,833 | 19,392 | 5,108 | 7,625 | -5,747 | 5,330 | 10,354 | 2,066 |
Income (Loss) from Equity Method Investments | |||||||||
4,800 | 3,500 | 1,400 | 5,016 | 2,657 | 3,512 | 3,480 | 7,495 | 4,701 | 3,507 |
Non-cash gain on Delta Egg acquisition | |||||||||
- | - | - | - | - | 3,976 | - | - | 1,067 | - |
Property and equipment impairment charge | |||||||||
- | - | - | - | - | - | - | 736 | 1,524 | - |
Gain on sale of Eggland's BestTM investment | |||||||||
- | - | - | - | - | - | - | - | 4,829 | - |
Distribution from Eggland's BestTM (see Note 3) | |||||||||
- | - | - | - | - | - | - | -38,343 | - | - |
(Gain) loss on disposal of property, plant and equipment | |||||||||
-33 | -472 | -3,664 | 1,563 | -568 | -651 | -1,496 | 1,247 | 2,219 | 67 |
Loss on early extinguishment of debt | |||||||||
- | - | - | - | - | - | - | - | -2,648 | - |
Stock compensation expense, net of amounts paid | |||||||||
3,619 | 3,467 | 3,427 | 3,071 | 2,268 | 1,273 | 411 | -702 | -2,392 | -533 |
Recovery of note receivable | |||||||||
- | - | - | -798 | -584 | - | 912 | - | - | - |
Amortization of investment securities | |||||||||
-962 | -1,680 | -3,398 | -6,599 | - | - | - | - | - | - |
Loss on fair value adjustment of contingent consideration | |||||||||
- | - | - | - | -256 | -4,359 | 1,250 | - | - | - |
Other adjustments, net | |||||||||
23 | 71 | -209 | 0 | 0 | - | - | - | - | - |
Interest on purchase obligation | |||||||||
- | - | - | - | - | - | - | - | - | 88 |
(Increase) decrease in receivables and other assets | |||||||||
-16,011 | -31,403 | 37,222 | -21,160 | 18,961 | 2,282 | 21,670 | -4,305 | 22,200 | -13,106 |
(Increase) decrease in inventories | |||||||||
2,285 | 7,952 | -2,386 | 8,539 | 143 | -8,909 | 6,377 | 7,137 | 16,112 | -5,311 |
Decrease in accrued expenses for payment of legal settlement expense | |||||||||
- | - | - | - | - | -28,000 | - | - | - | - |
Increase (decrease) in accounts payable, accrued expenses and other liabilities | |||||||||
-14,338 | 28,378 | -9,491 | -8,508 | 6,486 | -8,137 | 8,309 | 21,892 | 12,282 | 2,887 |
Net cash provided by (used in) operations | |||||||||
115,085 | 200,415 | -45,918 | 388,437 | 195,330 | 123,920 | 57,538 | 98,058 | 62,310 | 116,668 |
Investing activities: | |||||||||
Purchases of investment securities | |||||||||
176,951 | 275,287 | 29,849 | 403,204 | 202,506 | 142,585 | 181,721 | 160,630 | 156,906 | 82,824 |
Sales and maturities of investment securities | |||||||||
209,806 | 127,664 | 248,292 | 285,853 | 146,779 | 108,117 | 188,110 | 115,796 | 137,238 | 31,537 |
Investment in unconsolidated entities | |||||||||
4,273 | 4,100 | 19,900 | 33,959 | - | - | - | - | - | - |
Payments received from sale of Eggland's BestTM investment | |||||||||
- | - | - | - | - | - | - | - | 4,829 | - |
Distributions from unconsolidated entities | |||||||||
- | - | - | - | - | - | - | 38,343 | - | - |
Acquisition of business | |||||||||
17,889 | 0 | 85,822 | 0 | 0 | 11,548 | 74,907 | - | - | 508 |
Payments received on notes receivable and from investments in affiliates | |||||||||
7,904 | 6,581 | 6,586 | 5,427 | 2,019 | 5,003 | 6,640 | 5,352 | 3,587 | 4,785 |
Purchases of property, plant and equipment | |||||||||
67,989 | 19,671 | 66,657 | 76,125 | 82,263 | 59,188 | 26,290 | 26,845 | 20,742 | 20,786 |
Increase in notes receivable and investments in affiliates | |||||||||
- | - | - | - | - | - | 294 | 138 | 516 | 705 |
Net proceeds from disposal of property, plant and equipment | |||||||||
1,575 | 963 | 84 | 2,860 | 2,499 | 818 | 124 | 1,073 | 1,905 | 6,950 |
Net cash provided by (used in) investing activities | |||||||||
-47,817 | -163,850 | 52,734 | -219,148 | -141,632 | -99,383 | -88,338 | -27,049 | -30,605 | -61,551 |
Financing activities: | |||||||||
Payment for early extinguishment of debt | |||||||||
- | - | - | - | - | - | - | - | 2,648 | - |
Equity contribution to South Texas Protein, LLC | |||||||||
- | - | - | - | - | - | - | - | 421 | - |
Payment of purchase obligation | |||||||||
- | - | - | - | - | - | - | - | - | 8,149 |
Purchase of common stock by treasury | |||||||||
-985 | -1,128 | -1,715 | -1,760 | 531 | 279 | 380 | 318 | 143 | 308 |
Distributions to noncontrolling interests | |||||||||
0 | 279 | -73 | -918 | 940 | - | - | - | - | - |
Long-term borrowings | |||||||||
- | - | - | - | - | - | - | - | - | 30,000 |
Principal payments on long-term debt | |||||||||
3,754 | 4,849 | 16,510 | 25,290 | 10,233 | 10,745 | 11,200 | 11,941 | 46,512 | 25,667 |
Payment of dividends | |||||||||
41,713 | 0 | 0 | 120,942 | 48,910 | 24,534 | 30,524 | 19,937 | 24,883 | 19,039 |
Net cash used in financing activities | |||||||||
-46,452 | -5,698 | -18,298 | -148,910 | -59,552 | -35,000 | -41,344 | -31,560 | -73,479 | -22,547 |
Net change in cash and cash equivalents | |||||||||
20,816 | 30,867 | -11,482 | 20,379 | -5,854 | -10,463 | -72,144 | 39,449 | -41,774 | 32,570 |
Supplemental Information: | |||||||||
Income taxes paid (refunds received), net | |||||||||
36,312 | -45,101 | -15,233 | 166,840 | 75,533 | 41,626 | 42,667 | 27,075 | 28,934 | 14,381 |
Interest paid | |||||||||
644 | 265 | 317 | 1,067 | 2,313 | 3,152 | 3,543 | 4,407 | 6,449 | 6,876 |
Supplemental schedule of non-cash investing and financing activity: | |||||||||
Notes receivable from noncontrolling interest holders in South Texas Protein, LLC, for capital contribution | |||||||||
- | - | - | - | - | - | - | - | 4,123 | - |
Issuance of stock from treasury (see Note 2) | |||||||||
- | - | - | - | - | - | 5,000 | - | - | - |
Contingent consideration recognized in acquisition of business | |||||||||
- | - | - | - | - | - | 2,500 | - | - | - |