10-K Filing

INGLES MARKETS INC CIK: 50493 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0000050493-21-000017`
Period End Date	20210930
Filing Date	20211124
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	imkt-20210925x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 47 Cash Flow Statement 82 Stockholders Equity 15

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts receivable	`AllowanceForDoubtfulAccountsReceivableCurrent`	$157.34K	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	`CashEquivalentsAtCarryingValue`	$70.31M	USD	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$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
Short term investments	`ShortTermInvestments`	$5.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Receivables (less allowance for doubtful accounts of $157,343 2021 and $325,074 2020)	`ReceivablesNetCurrent`	$81.36M	USD	Point-in-time
Receivables (less allowance for doubtful accounts of $157,343 2021 and $325,074 2020)	`ReceivablesNetCurrent`	$95.08M	USD	Point-in-time
Inventories	`InventoryNet`	$366.82M	USD	Point-in-time
Inventories	`InventoryNet`	$389.95M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$15.09M	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`	$575.44M	USD	Point-in-time
Property and equipment net	`PropertyPlantAndEquipmentNet`	$1.37B	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`	$40.15M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$28.03M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$31.99M	USD	Point-in-time
Total assets	`Assets`	$2.02B	USD	Point-in-time
Total assets	`Assets`	$1.90B	USD	Point-in-time
Total assets	`Assets`	$1.87B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$19.31M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.60M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.38M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.64M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$189.43M	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`	$90.43M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$306.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$323.81M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$72.77M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$73.33M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$586.20M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$571.91M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$33.89M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$40.96M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$50.42M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$55.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.08B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.04B	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
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-10.25M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.43M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$985.73M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$816.26M	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`	$595.41M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$983.26M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$1.90B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.02B	USD	Point-in-time

Income Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$4.20B	USD	Annual
Net sales	`Revenues`	$4.99B	USD	Annual
Net sales	`Revenues`	$4.61B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.18B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.41B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.68B	USD	Annual
Gross profit	`GrossProfit`	$1.30B	USD	Annual
Gross profit	`GrossProfit`	$1.02B	USD	Annual
Gross profit	`GrossProfit`	$1.20B	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$921.75M	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$873.86M	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$963.33M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.43M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$9.96M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.05M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$350.06M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$152.19M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$280.94M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$1.74M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$2.97M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$1.81M	USD	Annual
Interest expense	`InterestExpense`	$47.41M	USD	Annual
Interest expense	`InterestExpense`	$40.53M	USD	Annual
Interest expense	`InterestExpense`	$24.33M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.08M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-7.10M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$327.61M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$235.04M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$106.60M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$25.02M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$56.44M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$77.88M	USD	Annual
Net income	`NetIncomeLoss`	$81.58M	USD	Annual
Net income	`NetIncomeLoss`	$249.73M	USD	Annual
Net income	`NetIncomeLoss`	$178.60M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$-11.89M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$-1.67M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$9.03M	USD	Annual
Income tax (expense) benefit	`OtherComprehensiveIncomeLossTax`	$-408.99K	USD	Annual
Income tax (expense) benefit	`OtherComprehensiveIncomeLossTax`	$-2.90M	USD	Annual
Income tax (expense) benefit	`OtherComprehensiveIncomeLossTax`	$2.21M	USD	Annual
Other comprehensive income (expense), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$6.83M	USD	Annual
Other comprehensive income (expense), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Annual
Other comprehensive income (expense), net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-8.99M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$256.56M	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`	$249.73M	USD	Annual
Net income	`NetIncomeLoss`	$178.60M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$116.28M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$117.10M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$112.52M	USD	Annual
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$8.01M	USD	Annual
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$9.09M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.43M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$9.96M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$4.05M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.08M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-7.10M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.33M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.28M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$4.00M	USD	Annual
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-2.54M	USD	Annual
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-2.89M	USD	Annual
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-4.03M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.77M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$737.00K	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.45M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$1.89M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$9.41M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$13.72M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-7.30M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$23.13M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$1.93M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$8.28M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.95M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-33.69M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$8.38M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$9.46M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-9.59M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$62.61M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.15M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$306.30M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$350.12M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$211.50M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$17.61M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$5.41M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$8.96M	USD	Annual
Purchase of short term investments	`PaymentsToAcquireShortTermInvestments`	$295.00M	USD	Annual
Proceeds from short term investments	`ProceedsFromSaleOfShortTermInvestments`	$290.00M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$122.77M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$140.60M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$161.75M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-127.98M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-152.79M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-117.35M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$112.84M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$653.62M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$303.81M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$73.95M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$692.51M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$303.81M	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$854.79K	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$5.58M	USD	Annual
Proceeds from issuance of bonds	`ProceedsFromIssuanceOfBond`	$350.00M	USD	Annual
Proceeds from new long-term borrowings	`ProceedsFromIssuanceOfLongTermDebt`	$155.00M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$14.12M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$327.81M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$442.64M	USD	Annual
Prepayment penalties on debt extinguishment	`PaymentsOfDebtExtinguishmentCosts`	$5.37M	USD	Annual
Stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$80.00M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$13.01M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$13.01M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$12.63M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-114.90M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-27.12M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-267.98M	USD	Annual
Increase (decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$31.59M	USD	Annual
Increase (decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$63.41M	USD	Annual
Increase (decrease) in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-35.22M	USD	Annual
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	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`	$70.31M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.54M	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`	$70.31M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$983.26M	USD	Point-in-time
Net income	`NetIncomeLoss`	$81.58M	USD	Annual
Net income	`NetIncomeLoss`	$249.73M	USD	Annual
Net income	`NetIncomeLoss`	$178.60M	USD	Annual
Other comprehensive (expense) income	`OtherComprehensiveIncomeLossNetOfTax`	$6.83M	USD	Annual
Other comprehensive (expense) income	`OtherComprehensiveIncomeLossNetOfTax`	$-1.27M	USD	Annual
Other comprehensive (expense) income	`OtherComprehensiveIncomeLossNetOfTax`	$-8.99M	USD	Annual
Stock repurchases, at cost	`StockRepurchasedDuringPeriodValue`	$80.00M	USD	Annual
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$662.72M	USD	Point-in-time
Balance	`StockholdersEquity`	$595.41M	USD	Point-in-time
Balance	`StockholdersEquity`	$983.26M	USD	Point-in-time

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