10-Q Filing

INGLES MARKETS INC CIK: 50493 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0000050493-19-000014`
Period End Date	20190630
Filing Date	20190808
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	imkt-20190629.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 60 Cash Flow Statement 56 Stockholders Equity 34

Balance Sheet 55 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.55M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.54M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$77.81M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$70.06M	USD	Point-in-time
Inventories	`InventoryNet`	$372.20M	USD	Point-in-time
Inventories	`InventoryNet`	$368.09M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$43.95M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.22M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$475.67M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$496.74M	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.30B	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.34B	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$28.18M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$25.12M	USD	Point-in-time
Total Assets	`Assets`	$1.84B	USD	Point-in-time
Total Assets	`Assets`	$1.82B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.85M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.88M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$146.85M	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`	$82.12M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$71.56M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$260.14M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$231.28M	USD	Point-in-time
Deferred Income Taxes	`DeferredTaxLiabilitiesNoncurrent`	$79.10M	USD	Point-in-time
Deferred Income Taxes	`DeferredTaxLiabilitiesNoncurrent`	$74.46M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$841.84M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$852.74M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$42.16M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$41.40M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.23B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.19B	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`	$-917.21K	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$582.09M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$633.00M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$511.05M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$552.95M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$580.23M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$558.99M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$645.41M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$595.41M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$614.66M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$625.94M	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 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.06B	USD	1 Quarter
Net sales	`Revenues`	$3.13B	USD	3 Qtrs
Net sales	`Revenues`	$1.03B	USD	1 Quarter
Net sales	`Revenues`	$3.03B	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$2.36B	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$2.31B	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$803.32M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$790.88M	USD	1 Quarter
Gross profit	`GrossProfit`	$243.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$258.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$761.65M	USD	3 Qtrs
Gross profit	`GrossProfit`	$723.74M	USD	3 Qtrs
Operating and administrative expenses	`OperatingExpenses`	$214.72M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$635.19M	USD	3 Qtrs
Operating and administrative expenses	`OperatingExpenses`	$651.61M	USD	3 Qtrs
Operating and administrative expenses	`OperatingExpenses`	$216.46M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$605.51K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$3.52M	USD	3 Qtrs
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$875.71K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$671.00K	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$43.35M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$29.78M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$113.56M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$89.22M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$129.97K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.47M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$2.47M	USD	3 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$647.89K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.96M	USD	1 Quarter
Interest expense	`InterestExpense`	$35.86M	USD	3 Qtrs
Interest expense	`InterestExpense`	$35.62M	USD	3 Qtrs
Interest expense	`InterestExpense`	$11.66M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.47M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$79.17M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.83M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$56.07M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$18.51M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-22.86M	USD	3 Qtrs
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$8.32M	USD	1 Quarter
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-6.01M	USD	1 Quarter
Net income	`NetIncomeLoss`	$9.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.66M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$78.93M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-1.19M	USD	3 Qtrs
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-1.04M	USD	1 Quarter
Income tax benefit	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-274.28K	USD	3 Qtrs
Income tax benefit	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-238.66K	USD	1 Quarter
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-798.10K	USD	1 Quarter
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$340.34K	USD	1 Quarter
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-917.21K	USD	3 Qtrs
Other comprehensive (expense) income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-459.45K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$59.75M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$78.93M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$22.71M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$24.48M	USD	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$9.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.66M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$78.93M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$84.63M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationAndAmortization`	$83.59M	USD	3 Qtrs
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$605.51K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$3.52M	USD	3 Qtrs
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$875.71K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$671.00K	USD	3 Qtrs
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.11M	USD	3 Qtrs
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.28M	USD	3 Qtrs
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-1.90M	USD	3 Qtrs
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-1.55M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.85M	USD	3 Qtrs
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.92M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$7.75M	USD	3 Qtrs
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$7.40M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$14.18M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-4.11M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$35.75M	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-29.54M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-27.41M	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.33M	USD	3 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$144.51M	USD	3 Qtrs
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$107.59M	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$1.42M	USD	3 Qtrs
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$8.18M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$123.22M	USD	3 Qtrs
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$120.53M	USD	3 Qtrs
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-115.04M	USD	3 Qtrs
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-119.11M	USD	3 Qtrs
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$303.81M	USD	3 Qtrs
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$444.87M	USD	3 Qtrs
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$424.77M	USD	3 Qtrs
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$303.81M	USD	3 Qtrs
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$11.71M	USD	3 Qtrs
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$11.10M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.75M	USD	3 Qtrs
Dividends paid	`PaymentsOfDividendsCommonStock`	$9.75M	USD	3 Qtrs
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.46M	USD	3 Qtrs
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-753.13K	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$8.02M	USD	3 Qtrs
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-12.27M	USD	3 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`	$18.55M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.64M	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`	$18.55M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$11.64M	USD	Point-in-time

Stockholders Equity 34 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$511.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$552.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$580.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$645.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$614.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$625.94M	USD	Point-in-time
Net income	`NetIncomeLoss`	$9.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$60.66M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$23.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$78.93M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$24.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$45.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-798.10K	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`	$-917.21K	USD	3 Qtrs
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-459.45K	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
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`	$511.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$552.95M	USD	Point-in-time
Balance	`StockholdersEquity`	$580.23M	USD	Point-in-time
Balance	`StockholdersEquity`	$558.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$645.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$614.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$625.94M	USD	Point-in-time

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