December 31 2020 2021 2019 10,560 $ 54,186 9 Assets 10 Current Assets: Cash and cash equivalents 12 Receivables, net Inventory 14 Prepaid advertising 15 Other prepaid expenses Deferred income tax benefits 17 Total current assets 18 Property, plant and equipment, at cost Land and buildings Fixtures and equipment Computer hardware & software 22 Leasehold improvements Total property, plant & equip. Less - accum. depr. and amort. 25 Property, plant & equipment, net 26 Intangible assets, net 27 Total assets LA CROSSE CORPORATION Consolidated Balance Sheets (In thousands) December 31 2021 2020 2019 Liabilities and equity Current liabilities: 79.360 $ 48.978 $ 49,668 Lines of credit 8,640 12,875 11,539 Accounts payable 147,693 122,337 105,425 Reserve for returns 10,216 11,458 10,772 Accrued liabilities 5,435 6,315 3,780 Accrued profit sharing 10,338 7,132 6,930 Income taxes payable 261,682 209,095 188,115 Total current liabilities Long-term liabilities 76,560 70,918 66,804 Equity 69,751 67,513 66,876 Common stock, 26, 144, $1 par 75,400 64,986 47,466 Additional paid-in capital, com. 3,244 3,010 2,894 Accum. other comp. income 224,955 206,426 184,040 Retained earnings (98,941) (85,986) (76,256) Treasury stock 126,014 120,440 107,784 Additional paid-in capital, TS 472 1,734 423 628 Total shareholders' investment 389,430 $ 329,959 $ 296,527 Total liabilities & shareholders' inv 16 11,011 $ 62,509 5,890 26,738 1,532 8,588 116,268 9,469 6,100 30,492 3,108 16,201 120,646 8,345 7,621 48,432 5,115 28,440 1,794 6,666 98,067 5,926 261 235,660 2,453 184,997 (165,882) 2,950 260,440 $ 389,431 261 169,459 3,883 119,564 (94,281) 5,337 204,223 $ 329,959 261 158,658 1,739 111,340 (84,231) 4.769 192,535 $ 296,528 $ Financial Ratios LA CROSSE CORPORATION Consolidated Statements of Operations (In thousands, except per share data) (Round to only 1 decimal place) 2021 2020 For the period ended December 31 Current ratio: 2021 2020 2019 current assets/ current liabilities 35 Net Sales $ 1,020,809 $ 950,484 $ 857,885 Quick ratio: 36 Cost of sales 570,153 546,393 472,739 (cash + AR) / current liabilities DT 37 Gross Profit 450,656 404,091 385,146 Receivables turnover: 38 Selling, general and admin. 373,115 3 64,012 334,994 net sales / average acct. receivable 39 Non-recurring charge (credit) (1.153) Average collection period: 40 Income from operations 77,541 40,729 51,305 365 days/receivables turnover ratio 41 Other income (expense): Inventory turnover: 42 Interest expense, net (878) (983) (1,229) cost of sales / average inventory 43 Depreciation & amort. (14,266) (9,935) (76,884) Average days in inventory: 44 Gains & (losses): 26,096 365/inventory turnover ratio 45 Other (3,514) (4,798) (1,091) Gross Profit Percentage 46 Total other income (expense) 7,438 (4,322) (1,747) gross profit / net sales 47 Income before income taxes 84,979 35,757 49,559 Profit Margin 48 Income tax provision 19,545 8,224 11,398 net income / net sales DT 49 Net income $ 65,434 $ 27,533 $ 38,160 Return on Assets 50 Basic earnings per share $ 3.42 $ 1.41 $ 1.95 net income / average total assets 51 Diluted earnings per share $ 3.36 $ 1.39 $ 1.90 Return on Equity 52 Basic WA shares outstanding 19,531 19,555 net income/ave, shareholders investment 53 Diluted WA shares outstanding 19,485 19,774 20,055 Debt to Equity total liabilities/total shareholders' invest. Times Interest Earned (net income + int. exp.) / int. exp. HHHH 19,159 |