10-Q Filing

INGLES MARKETS INC CIK: 50493 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0000050493-19-000008`
Period End Date	20190331
Filing Date	20190508
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	imkt-20190330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 57 Cash Flow Statement 54 Stockholders Equity 25

Balance Sheet 53 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.05	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.05	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.68M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.54M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$70.06M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$73.59M	USD	Point-in-time
Inventories	`InventoryNet`	$365.76M	USD	Point-in-time
Inventories	`InventoryNet`	$372.20M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$24.90M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.95M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$480.92M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$496.74M	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.33B	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.30B	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$25.12M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$27.69M	USD	Point-in-time
Total Assets	`Assets`	$1.82B	USD	Point-in-time
Total Assets	`Assets`	$1.84B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.85M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.84M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$162.98M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$165.17M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$72.71M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$82.12M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$260.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$248.52M	USD	Point-in-time
Deferred Income Taxes	`DeferredTaxLiabilitiesNoncurrent`	$81.57M	USD	Point-in-time
Deferred Income Taxes	`DeferredTaxLiabilitiesNoncurrent`	$74.46M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$844.63M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$852.74M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$41.83M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$42.16M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.23B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.22B	USD	Point-in-time
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued	`PreferredStockValue`	-	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapital`	$12.31M	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapital`	$12.31M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-119.11K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$612.74M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$582.09M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$614.66M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$558.99M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$625.94M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$511.05M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$595.41M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$552.95M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.82B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.84B	USD	Point-in-time

Income Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$2.06B	USD	2 Qtrs
Net sales	`Revenues`	$1.00B	USD	1 Quarter
Net sales	`Revenues`	$2.00B	USD	2 Qtrs
Net sales	`Revenues`	$984.56M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$749.37M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$1.56B	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$1.52B	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$757.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$244.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$502.71M	USD	2 Qtrs
Gross profit	`GrossProfit`	$235.19M	USD	1 Quarter
Gross profit	`GrossProfit`	$479.85M	USD	2 Qtrs
Operating and administrative expenses	`OperatingExpenses`	$420.47M	USD	2 Qtrs
Operating and administrative expenses	`OperatingExpenses`	$435.15M	USD	2 Qtrs
Operating and administrative expenses	`OperatingExpenses`	$211.64M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$216.47M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$65.49K	USD	2 Qtrs
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.91M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$8.22K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.65M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$59.44M	USD	2 Qtrs
Income from operations	`OperatingIncomeLoss`	$23.55M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$30.75M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$70.21M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$864.48K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$447.91K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.82M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.34M	USD	2 Qtrs
Interest expense	`InterestExpense`	$23.66M	USD	2 Qtrs
Interest expense	`InterestExpense`	$12.00M	USD	1 Quarter
Interest expense	`InterestExpense`	$12.21M	USD	1 Quarter
Interest expense	`InterestExpense`	$24.21M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$19.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$47.34M	USD	2 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$12.21M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.60M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$4.20M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$10.19M	USD	2 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$2.91M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-16.84M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$37.15M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$9.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$54.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-598.76K	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-154.73K	USD	2 Qtrs
Income tax benefit	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-35.62K	USD	2 Qtrs
Income tax benefit	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-139.32K	USD	1 Quarter
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-459.45K	USD	1 Quarter
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$340.34K	USD	1 Quarter
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-119.11K	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$37.03M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$9.29M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$54.44M	USD	2 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.54M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$37.15M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$9.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$54.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$55.61M	USD	2 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$56.21M	USD	2 Qtrs
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$65.49K	USD	2 Qtrs
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.91M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$8.22K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.65M	USD	2 Qtrs
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$1.17M	USD	2 Qtrs
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$1.00M	USD	2 Qtrs
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-998.08K	USD	2 Qtrs
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-1.27M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.14M	USD	2 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-23.00M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.53M	USD	2 Qtrs
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$7.40M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-6.44M	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$9.50M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$10.27M	USD	2 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-16.36M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$7.21M	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-8.04M	USD	2 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$67.80M	USD	2 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$108.21M	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$7.28M	USD	2 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$93.81K	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$88.82M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$94.22M	USD	2 Qtrs
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-86.94M	USD	2 Qtrs
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-88.73M	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$300.19M	USD	2 Qtrs
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$291.84M	USD	2 Qtrs
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$299.50M	USD	2 Qtrs
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$272.66M	USD	2 Qtrs
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$8.74M	USD	2 Qtrs
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$9.31M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.50M	USD	2 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$6.50M	USD	2 Qtrs
Net Cash (Used) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$3.94M	USD	2 Qtrs
Net Cash (Used) Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-15.13M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$6.14M	USD	2 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-16.98M	USD	2 Qtrs
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.91M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.68M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.93M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.91M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$16.68M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.93M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	USD	Point-in-time

Stockholders Equity 25 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$614.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$625.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$511.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$552.95M	USD	Point-in-time
Net income	`NetIncomeLoss`	$37.15M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$9.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$54.44M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-459.45K	USD	1 Quarter
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$340.34K	USD	1 Quarter
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-119.11K	USD	2 Qtrs
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Balance	`StockholdersEquity`	$614.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$625.94M	USD	Point-in-time
Balance	`StockholdersEquity`	$511.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$552.95M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.