10-Q Filing

INGLES MARKETS INC CIK: 50493 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000050493-20-000006`
Period End Date	20191231
Filing Date	20200206
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	imkt-20191228.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 31 Cash Flow Statement 52 Stockholders Equity 14

Balance Sheet 56 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`	$42.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.03M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$71.95M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$75.53M	USD	Point-in-time
Inventories	`InventoryNet`	$374.13M	USD	Point-in-time
Inventories	`InventoryNet`	$371.58M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$11.00M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$8.90M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$497.10M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$481.13M	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.34B	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.35B	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$42.83M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$25.96M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$400.00K	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$28.43M	USD	Point-in-time
Total Assets	`Assets`	$1.87B	USD	Point-in-time
Total Assets	`Assets`	$1.90B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$20.23M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.60M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.80M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$141.34M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$151.33M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$83.65M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$64.85M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$247.58M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$235.23M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$76.75M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$75.50M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$839.64M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$829.81M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$37.07M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$41.89M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$39.78M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.22B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.20B	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`	$886.24K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$650.66M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$665.10M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$679.31M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$614.66M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$662.72M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$595.41M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.90B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.87B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.08B	USD	1 Quarter
Net sales	`Revenues`	$1.06B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$803.43M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$820.87M	USD	1 Quarter
Gross profit	`GrossProfit`	$258.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$257.49M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$218.68M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$221.98M	USD	1 Quarter
Gain (loss) from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.96M	USD	1 Quarter
Gain (loss) from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$-262.59K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$38.48M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$39.46M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$197.49K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$895.46K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.95M	USD	1 Quarter
Interest expense	`InterestExpense`	$12.21M	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-3.72M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$28.15M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.00M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$5.32M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$6.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$444.04K	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$2.85M	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-103.70K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-696.99K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.15M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$340.34K	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$22.49M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.84M	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$27.82M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$28.43M	USD	1 Quarter
Non cash operating lease cost	`NoncashOperatingLeaseCost`	$2.19M	USD	1 Quarter
(Gain) loss from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.96M	USD	1 Quarter
(Gain) loss from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$-262.59K	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-3.72M	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$500.00K	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$1.00M	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-870.01K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-632.89K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$552.01K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.19M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.58M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.18M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$2.73M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.55M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.72M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-17.06M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-2.28M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-27.97M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-2.36M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.25M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$63.59M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$5.22M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$48.25K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$70.96M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$31.10M	USD	1 Quarter
Net Cash Used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.88M	USD	1 Quarter
Net Cash Used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-70.91M	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$171.12M	USD	1 Quarter
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$154.60M	USD	1 Quarter
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$822.41K	USD	1 Quarter
Proceeds from new long term debt	`ProceedsFromIssuanceOfLongTermDebt`	$155.00M	USD	1 Quarter
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$157.42M	USD	1 Quarter
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$2.38M	USD	1 Quarter
Prepayment penalties on debt extinguishment	`PaymentsOfDebtExtinguishmentCosts`	$2.97M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.25M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.25M	USD	1 Quarter
Net Cash (Used) Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$10.89M	USD	1 Quarter
Net Cash (Used) Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.47M	USD	1 Quarter
Net (Decrease) Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-19.10M	USD	1 Quarter
Net (Decrease) Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$3.56M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.10M	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`	$23.03M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.13M	USD	Point-in-time
Cash and Cash Equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$14.10M	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`	$23.03M	USD	Point-in-time
Cash and Cash Equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.13M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$679.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$614.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.15M	USD	1 Quarter
Other comprehensive (expense) income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$340.34K	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Balance	`StockholdersEquity`	$679.31M	USD	Point-in-time
Balance	`StockholdersEquity`	$614.66M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time

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