10-Q Filing

INGLES MARKETS INC CIK: 50493 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0000050493-22-000004`
Period End Date	20211231
Filing Date	20220203
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	imkt-20211225x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 30 Cash Flow Statement 51 Stockholders Equity 14

Balance Sheet 60 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	`CashEquivalentsAtCarryingValue`	$70.31M	USD	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$27.64M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Short term investments	`ShortTermInvestments`	$5.00M	USD	Point-in-time
Short term investments	`ShortTermInvestments`	$115.01M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$103.03M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$95.08M	USD	Point-in-time
Inventories	`InventoryNet`	$389.47M	USD	Point-in-time
Inventories	`InventoryNet`	$389.95M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$15.09M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$14.03M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$575.44M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$649.19M	USD	Point-in-time
Property and equipment net	`PropertyPlantAndEquipmentNet`	$1.37B	USD	Point-in-time
Property and equipment net	`PropertyPlantAndEquipmentNet`	$1.36B	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$40.15M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$38.11M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$31.99M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$32.60M	USD	Point-in-time
Total assets	`Assets`	$2.02B	USD	Point-in-time
Total assets	`Assets`	$2.08B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.60M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.60M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.30M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$8.64M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$204.20M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$189.43M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$77.75M	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`	$307.85M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$72.12M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$72.77M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$571.91M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$568.53M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$32.09M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$33.89M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$49.61M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$50.42M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.04B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.03B	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`	-	USD	Point-in-time
Paid-in capital in excess of par value	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-3.43M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.02M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.05B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$985.73M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$983.26M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$871.99M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$819.33M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$1.05B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.08B	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$2.02B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.39B	USD	1 Quarter
Net sales	`Revenues`	$1.19B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$876.25M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.04B	USD	1 Quarter
Gross profit	`GrossProfit`	$350.54M	USD	1 Quarter
Gross profit	`GrossProfit`	$314.19M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$238.20M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$260.09M	USD	1 Quarter
(Loss) gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$451.72K	USD	1 Quarter
(Loss) gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$-56.03K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$76.44M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$90.40M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$692.02K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.59M	USD	1 Quarter
Interest expense	`InterestExpense`	$6.40M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.41M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$70.73M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$86.58M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$16.91M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$20.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$66.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.82M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$2.76M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$1.87M	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$456.00K	USD	1 Quarter
Income tax expense	`OtherComprehensiveIncomeLossTaxPortionAttributableToParent1`	$675.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$1.41M	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.09M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$55.91M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$67.60M	USD	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$66.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.82M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$29.30M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$29.88M	USD	1 Quarter
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$1.67M	USD	1 Quarter
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$2.04M	USD	1 Quarter
Loss (gain) from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$451.72K	USD	1 Quarter
Loss (gain) from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$-56.03K	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$250.00K	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$250.00K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-746.53K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-753.51K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.10M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$429.00K	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$7.95M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$19.59M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-486.08K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$6.72M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$1.34M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-233.19K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$2.13M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$1.77M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$8.36M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$2.35M	USD	1 Quarter
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$94.98M	USD	1 Quarter
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$57.77M	USD	1 Quarter
Purchase of short term investments	`PaymentsToAcquireShortTermInvestments`	$110.01M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$215.29K	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$593.25K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$34.24M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.33M	USD	1 Quarter
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-33.65M	USD	1 Quarter
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-131.13M	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
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$3.46M	USD	1 Quarter
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$3.89M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.25M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.06M	USD	1 Quarter
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.52M	USD	1 Quarter
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-21.03M	USD	1 Quarter
Net (Decrease) Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-42.67M	USD	1 Quarter
Net (Decrease) Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$3.10M	USD	1 Quarter
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$27.64M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.31M	USD	Point-in-time
Cash and Cash Equivalents at Beginning of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$6.90M	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`	$27.64M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$70.31M	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`	$10.01M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$983.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$871.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.05B	USD	Point-in-time
Net income	`NetIncomeLoss`	$66.19M	USD	1 Quarter
Net income	`NetIncomeLoss`	$53.82M	USD	1 Quarter
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$1.41M	USD	1 Quarter
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$2.09M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.06M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.25M	USD	1 Quarter
Balance	`StockholdersEquity`	$983.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$871.99M	USD	Point-in-time
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.05B	USD	Point-in-time

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