10-Q Filing

INGLES MARKETS INC CIK: 50493 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0000050493-21-000005`
Period End Date	20201231
Filing Date	20210204
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	imkt-20201226x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 31 Cash Flow Statement 54 Stockholders Equity 14

Balance Sheet 58 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$6.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.01M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$100.95M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$81.36M	USD	Point-in-time
Inventories	`InventoryNet`	$366.82M	USD	Point-in-time
Inventories	`InventoryNet`	$373.55M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$13.49M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$470.19M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$497.99M	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.35B	USD	Point-in-time
Property and Equipment Net	`PropertyPlantAndEquipmentNet`	$1.35B	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$46.59M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$44.92M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$30.99M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$28.03M	USD	Point-in-time
Total Assets	`Assets`	$1.90B	USD	Point-in-time
Total Assets	`Assets`	$1.93B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$19.32M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$19.31M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.33M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.38M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$209.05M	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`	$81.66M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$92.01M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$323.81M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$318.37M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$73.33M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$74.44M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$586.20M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$568.63M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$39.25M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$40.96M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$55.83M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$55.66M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.06B	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.08B	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`	$-8.16M	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`	$866.83M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$679.31M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$819.33M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$662.72M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$871.99M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.90B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$1.93B	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`	$1.19B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$820.87M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$876.25M	USD	1 Quarter
Gross profit	`GrossProfit`	$257.49M	USD	1 Quarter
Gross profit	`GrossProfit`	$314.19M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$221.98M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$238.20M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$451.72K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.96M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$76.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$38.48M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$692.02K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$197.49K	USD	1 Quarter
Interest expense	`InterestExpense`	$11.95M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.40M	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-3.72M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$70.73M	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`	$16.91M	USD	1 Quarter
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.82M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$2.76M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$2.85M	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$696.99K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$675.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.09M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.15M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$19.84M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$55.91M	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.82M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$28.43M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$29.88M	USD	1 Quarter
Non cash operating lease cost	`NoncashOperatingLeaseCost`	$1.67M	USD	1 Quarter
Non cash operating lease cost	`NoncashOperatingLeaseCost`	$2.19M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$451.72K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.96M	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-3.72M	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$250.00K	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$500.00K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-870.01K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-753.51K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$552.01K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$429.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$3.58M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$19.59M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-2.55M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$6.72M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.72M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.34M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-1.77M	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`	$2.35M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$57.77M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$16.25M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$593.25K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$5.22M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.24M	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`	$-33.65M	USD	1 Quarter
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$248.72M	USD	1 Quarter
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$262.60M	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`	$3.89M	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 by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-9.47M	USD	1 Quarter
Net Cash Used by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.03M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$3.10M	USD	1 Quarter
Net Increase (Decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-19.10M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	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 beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.01M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	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
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.01M	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`	$819.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$871.99M	USD	Point-in-time
Net income	`NetIncomeLoss`	$17.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.82M	USD	1 Quarter
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.09M	USD	1 Quarter
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.15M	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`	$819.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$871.99M	USD	Point-in-time

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