10-K Filing

INGLES MARKETS INC CIK: 50493 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0000050493-20-000018`
Period End Date	20200930
Filing Date	20201208
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	imkt-20200926x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 66 Cash Flow Statement 82 Stockholders Equity 21

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$156.15K	USD	Point-in-time
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$325.07K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.05	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.05	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$42.13M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.90M	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
Receivables (less allowance for doubtful accounts of $325,074 2020 and $156,145 2019)	`ReceivablesNetCurrent`	$81.36M	USD	Point-in-time
Receivables (less allowance for doubtful accounts of $325,074 2020 and $156,145 2019)	`ReceivablesNetCurrent`	$71.95M	USD	Point-in-time
Inventories	`InventoryNet`	$366.82M	USD	Point-in-time
Inventories	`InventoryNet`	$374.13M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$8.90M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$15.10M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$470.19M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$497.10M	USD	Point-in-time
Property and equipment net	`PropertyPlantAndEquipmentNet`	$1.35B	USD	Point-in-time
Property and equipment net	`PropertyPlantAndEquipmentNet`	$1.34B	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$46.59M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$25.96M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$28.03M	USD	Point-in-time
Total assets	`Assets`	$1.87B	USD	Point-in-time
Total assets	`Assets`	$1.82B	USD	Point-in-time
Total assets	`Assets`	$1.90B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$12.60M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$19.31M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.38M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$151.33M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$204.11M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$92.01M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$83.65M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$247.58M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$323.81M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$73.33M	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`	$586.20M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$40.96M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$41.89M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$55.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.20B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.08B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	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`	$-1.27M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$816.26M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$650.66M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$595.41M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$511.05M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$662.72M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$819.33M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.87B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.90B	USD	Point-in-time

Income Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.00B	USD	1 Quarter
Net sales	`Revenues`	$4.20B	USD	Annual
Net sales	`Revenues`	$1.06B	USD	1 Quarter
Net sales	`Revenues`	$1.20B	USD	1 Quarter
Net sales	`Revenues`	$4.61B	USD	Annual
Net sales	`Revenues`	$1.15B	USD	1 Quarter
Net sales	`Revenues`	$1.19B	USD	1 Quarter
Net sales	`Revenues`	$1.06B	USD	1 Quarter
Net sales	`Revenues`	$4.09B	USD	Annual
Net sales	`Revenues`	$1.08B	USD	1 Quarter
Net sales	`Revenues`	$1.08B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.18B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.41B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.11B	USD	Annual
Gross profit	`GrossProfit`	$1.02B	USD	Annual
Gross profit	`GrossProfit`	$980.17M	USD	Annual
Gross profit	`GrossProfit`	$291.59M	USD	1 Quarter
Gross profit	`GrossProfit`	$324.45M	USD	1 Quarter
Gross profit	`GrossProfit`	$244.30M	USD	1 Quarter
Gross profit	`GrossProfit`	$258.94M	USD	1 Quarter
Gross profit	`GrossProfit`	$324.72M	USD	1 Quarter
Gross profit	`GrossProfit`	$258.41M	USD	1 Quarter
Gross profit	`GrossProfit`	$257.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$1.20B	USD	Annual
Gross profit	`GrossProfit`	$260.35M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$921.75M	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$873.86M	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$856.07M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.05M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$728.39K	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.43M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$280.94M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$152.19M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$124.82M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$1.74M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$3.06M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$1.81M	USD	Annual
Interest expense	`InterestExpense`	$47.57M	USD	Annual
Interest expense	`InterestExpense`	$40.53M	USD	Annual
Interest expense	`InterestExpense`	$47.41M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-7.10M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$80.32M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$235.04M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$106.60M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$56.44M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$-17.05M	USD	Annual
Income tax expense (benefit)	`IncomeTaxExpenseBenefit`	$25.02M	USD	Annual
Net income	`NetIncomeLoss`	$81.58M	USD	Annual
Net income	`NetIncomeLoss`	$62.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$178.60M	USD	Annual
Net income	`NetIncomeLoss`	$23.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$57.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$97.36M	USD	Annual
Net income	`NetIncomeLoss`	$20.92M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-11.89M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$-1.67M	USD	Annual
Income tax benefit	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-408.99K	USD	Annual
Income tax benefit	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$-2.90M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-8.99M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$80.31M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$169.62M	USD	Annual

Cash Flow Statement 82 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$81.58M	USD	Annual
Net income	`NetIncomeLoss`	$62.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$178.60M	USD	Annual
Net income	`NetIncomeLoss`	$23.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$57.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$97.36M	USD	Annual
Net income	`NetIncomeLoss`	$20.92M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$112.52M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$113.08M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$116.28M	USD	Annual
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$9.09M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.05M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$728.39K	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.43M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-7.10M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$4.00M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.11M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.28M	USD	Annual
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-2.54M	USD	Annual
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-4.03M	USD	Annual
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-2.18M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.45M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$4.54M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$737.00K	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.73M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$9.41M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.89M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.93M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$22.86M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-7.30M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.28M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-33.69M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$40.55M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-9.46M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$62.61M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-9.59M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.19M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$211.50M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$161.24M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$350.12M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$8.96M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$5.41M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$2.34M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$122.77M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$161.75M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$150.49M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-117.35M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-148.15M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-152.79M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$112.84M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$515.40M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$303.81M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$303.81M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$515.40M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$73.95M	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$854.79K	USD	Annual
Proceeds from new long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$155.00M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$442.64M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$14.12M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$13.47M	USD	Annual
Prepayment penalties on debt extinguishment	`PaymentsOfDebtExtinguishmentCosts`	$5.37M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$13.00M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$13.01M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$13.01M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.12M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-267.98M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-26.47M	USD	Annual
(Decrease) increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-35.22M	USD	Annual
(Decrease) increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-13.37M	USD	Annual
(Decrease) increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$31.59M	USD	Annual
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.91M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.13M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$23.91M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$42.13M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	USD	Point-in-time

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$511.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time
Net income	`NetIncomeLoss`	$81.58M	USD	Annual
Net income	`NetIncomeLoss`	$62.75M	USD	1 Quarter
Net income	`NetIncomeLoss`	$15.00M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$22.15M	USD	1 Quarter
Net income	`NetIncomeLoss`	$178.60M	USD	Annual
Net income	`NetIncomeLoss`	$23.51M	USD	1 Quarter
Net income	`NetIncomeLoss`	$40.29M	USD	1 Quarter
Net income	`NetIncomeLoss`	$57.87M	USD	1 Quarter
Net income	`NetIncomeLoss`	$97.36M	USD	Annual
Net income	`NetIncomeLoss`	$20.92M	USD	1 Quarter
Other comprehensive (expense) income	`OtherComprehensiveIncomeLossNetOfTax`	$-8.99M	USD	Annual
Other comprehensive (expense) income	`OtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Annual
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$511.05M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time

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