10-K Filing

INGLES MARKETS INC CIK: 50493 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0000050493-23-000021`
Period End Date	20230930
Filing Date	20231129
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	imkt-20230930x10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 46 Cash Flow Statement 79 Stockholders Equity 15

Balance Sheet 67 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$143.75K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$382.66K	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`	$328.54M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$267.20M	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Receivables (less allowance for doubtful accounts of $143,753 2023 and $382,657 2022)	`ReceivablesNetCurrent`	$107.57M	USD	Point-in-time
Receivables (less allowance for doubtful accounts of $143,753 2023 and $382,657 2022)	`ReceivablesNetCurrent`	$97.16M	USD	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
Inventories	`InventoryNet`	$457.95M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories	`InventoryNet`	$493.86M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$22.59M	USD	Point-in-time
Other	`OtherAssetsCurrent`	$15.83M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$952.56M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$838.13M	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$1.43B	USD	Point-in-time
PROPERTY AND EQUIPMENT, NET	`PropertyPlantAndEquipmentNet`	$1.37B	USD	Point-in-time
OPERATING LEASE RIGHT OF USE ASSETS	`OperatingLeaseRightOfUseAsset`	$39.60M	USD	Point-in-time
OPERATING LEASE RIGHT OF USE ASSETS	`OperatingLeaseRightOfUseAsset`	$38.59M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$49.81M	USD	Point-in-time
OTHER ASSETS	`OtherAssetsNoncurrent`	$44.75M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.02B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.47B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$2.30B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.53M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.62M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$7.80M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$7.59M	USD	Point-in-time
Current portion of finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$635.56K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$204.04M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$213.39M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$100.74M	USD	Point-in-time
Accrued expenses and current portion of other long-term liabilities	`AccruedLiabilitiesCurrent`	$94.97M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$333.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$330.53M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$67.19M	USD	Point-in-time
DEFERRED INCOME TAXES	`DeferredIncomeTaxLiabilitiesNet`	$73.58M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$554.29M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$532.63M	USD	Point-in-time
NONCURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$34.02M	USD	Point-in-time
NONCURRENT OPERATING LEASE LIABILITIES	`OperatingLeaseLiabilityNoncurrent`	$32.79M	USD	Point-in-time
NONCURRENT FINANCE LEASE LIABILITIES	`FinanceLeaseLiabilityNoncurrent`	$3.06M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$47.44M	USD	Point-in-time
OTHER LONG-TERM LIABILITIES	`OtherLiabilitiesNoncurrent`	$41.48M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.04B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.01B	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 or outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued or outstanding	`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`	$13.23M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$12.41M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.25B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.44B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$983.26M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.26B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.46B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$819.33M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.47B	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$2.30B	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$4.99B	USD	Annual
Net sales	`Revenues`	$5.68B	USD	Annual
Net sales	`Revenues`	$5.89B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$3.68B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.26B	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$4.49B	USD	Annual
Gross profit	`GrossProfit`	$1.40B	USD	Annual
Gross profit	`GrossProfit`	$1.30B	USD	Annual
Gross profit	`GrossProfit`	$1.42B	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$1.12B	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$1.04B	USD	Annual
Operating and administrative expenses	`OperatingExpenses`	$963.33M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$9.96M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.77M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$1.36M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$292.30M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$350.06M	USD	Annual
Income from operations	`OperatingIncomeLoss`	$376.93M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$8.27M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$2.97M	USD	Annual
Other income, net	`OtherNonoperatingIncomeExpense`	$5.85M	USD	Annual
Interest expense	`InterestExpense`	$22.07M	USD	Annual
Interest expense	`InterestExpense`	$24.33M	USD	Annual
Interest expense	`InterestExpense`	$21.51M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.08M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$327.61M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$361.27M	USD	Annual
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$278.50M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$88.51M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$67.69M	USD	Annual
Income tax expense	`IncomeTaxExpenseBenefit`	$77.88M	USD	Annual
Net income	`NetIncomeLoss`	$272.76M	USD	Annual
Net income	`NetIncomeLoss`	$249.73M	USD	Annual
Net income	`NetIncomeLoss`	$210.81M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$9.03M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$1.09M	USD	Annual
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$20.95M	USD	Annual
Income tax expense	`OtherComprehensiveIncomeLossTax`	$2.21M	USD	Annual
Income tax expense	`OtherComprehensiveIncomeLossTax`	$267.00K	USD	Annual
Income tax expense	`OtherComprehensiveIncomeLossTax`	$5.12M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$6.83M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$15.83M	USD	Annual
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$827.08K	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$211.64M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$288.59M	USD	Annual
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$256.56M	USD	Annual

Cash Flow Statement 79 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$272.76M	USD	Annual
Net income	`NetIncomeLoss`	$249.73M	USD	Annual
Net income	`NetIncomeLoss`	$210.81M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$115.98M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$117.10M	USD	Annual
Depreciation and amortization expense	`DepreciationAndAmortization`	$117.80M	USD	Annual
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$8.01M	USD	Annual
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$6.88M	USD	Annual
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$7.94M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$9.96M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$2.77M	USD	Annual
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$1.36M	USD	Annual
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.08M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$4.15M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.33M	USD	Annual
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$2.77M	USD	Annual
Recognition of advance payments on purchase contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-3.16M	USD	Annual
Recognition of advance payments on purchase contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-3.04M	USD	Annual
Recognition of advance payments on purchase contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-2.89M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-2.77M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-6.66M	USD	Annual
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-4.31M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$13.72M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$2.08M	USD	Annual
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$10.41M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$35.91M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$67.99M	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$23.13M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$10.74M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.95M	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-2.71M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$8.32M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$6.87M	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$8.38M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$22.62M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-7.15M	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$5.11M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$266.41M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$339.50M	USD	Annual
Net Cash Provided By Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$306.30M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$3.50M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$2.62M	USD	Annual
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$17.61M	USD	Annual
Purchase from short term investments	`PaymentsToAcquireShortTermInvestments`	$295.00M	USD	Annual
Purchase from short term investments	`PaymentsToAcquireShortTermInvestments`	$110.21M	USD	Annual
Proceeds of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$115.21M	USD	Annual
Proceeds of short term investments	`ProceedsFromSaleOfShortTermInvestments`	$290.00M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$119.61M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$140.60M	USD	Annual
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$173.59M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-111.99M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-127.98M	USD	Annual
Net Cash Used By Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-170.10M	USD	Annual
Proceeds from short-term borrowings	`ProceedsFromLinesOfCredit`	$653.62M	USD	Annual
Payments on short-term borrowings	`RepaymentsOfLinesOfCredit`	$692.51M	USD	Annual
Debt issuance costs	`PaymentsOfDebtIssuanceCosts`	$5.58M	USD	Annual
Proceeds from issuance of bonds	`ProceedsFromIssuanceOfBond`	$350.00M	USD	Annual
Repayment of Financing Lease	`FinanceLeasePrincipalPayments`	$231.29K	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$18.37M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$22.48M	USD	Annual
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$327.81M	USD	Annual
Stock repurchases	`PaymentsForRepurchaseOfCommonStock`	$80.00M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$12.63M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$12.26M	USD	Annual
Dividends	`PaymentsOfDividendsCommonStock`	$12.26M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-30.62M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-114.90M	USD	Annual
Net Cash Used By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-34.97M	USD	Annual
Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$196.89M	USD	Annual
Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$61.34M	USD	Annual
Increase in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$63.41M	USD	Annual
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 Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$267.20M	USD	Point-in-time
Cash and cash equivalents at Beginning of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$328.54M	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
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$267.20M	USD	Point-in-time
Cash and Cash Equivalents at End of Year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$328.54M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$983.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.26B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.46B	USD	Point-in-time
Balance	`StockholdersEquity`	$819.33M	USD	Point-in-time
Net income	`NetIncomeLoss`	$272.76M	USD	Annual
Net income	`NetIncomeLoss`	$249.73M	USD	Annual
Net income	`NetIncomeLoss`	$210.81M	USD	Annual
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$6.83M	USD	Annual
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$15.83M	USD	Annual
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$827.08K	USD	Annual
Stock repurchases, at cost	`StockRepurchasedDuringPeriodValue`	$80.00M	USD	Annual
Balance	`StockholdersEquity`	$983.26M	USD	Point-in-time
Balance	`StockholdersEquity`	$1.26B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.46B	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.