10-Q Filing

INGLES MARKETS INC CIK: 50493 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0000050493-24-000004`
Period End Date	20231231
Filing Date	20240208
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	imkt-20231230x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 30 Cash Flow Statement 49 Stockholders Equity 14

Balance Sheet 62 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`	$275.03M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashEquivalentsAtCarryingValue`	$328.54M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$116.75M	USD	Point-in-time
Receivables - net	`ReceivablesNetCurrent`	$107.57M	USD	Point-in-time
Inventories	`InventoryNet`	$501.05M	USD	Point-in-time
Inventories	`InventoryNet`	$493.86M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.59M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$18.16M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$910.99M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$952.56M	USD	Point-in-time
Property and Equipment - Net	`PropertyPlantAndEquipmentNet`	$1.43B	USD	Point-in-time
Property and Equipment - Net	`PropertyPlantAndEquipmentNet`	$1.46B	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$37.36M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$39.60M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$49.81M	USD	Point-in-time
Other Assets	`OtherAssetsNoncurrent`	$48.15M	USD	Point-in-time
Total Assets	`Assets`	$2.47B	USD	Point-in-time
Total Assets	`Assets`	$2.46B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.52M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$17.53M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$7.59M	USD	Point-in-time
Current portion of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$6.84M	USD	Point-in-time
Current portion of finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$635.56K	USD	Point-in-time
Current portion of finance lease liabilities	`FinanceLeaseLiabilityCurrent`	$645.14K	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$204.04M	USD	Point-in-time
Accounts payable - trade	`AccountsPayableTradeCurrent`	$180.51M	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`	$77.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$330.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$282.99M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$67.19M	USD	Point-in-time
Deferred Income Taxes	`DeferredIncomeTaxLiabilitiesNet`	$64.57M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$529.37M	USD	Point-in-time
Long-Term Debt	`LongTermDebtNoncurrent`	$532.63M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$32.52M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$34.02M	USD	Point-in-time
Noncurrent operating finance liabilities	`FinanceLeaseLiabilityNoncurrent`	$3.06M	USD	Point-in-time
Noncurrent operating finance liabilities	`FinanceLeaseLiabilityNoncurrent`	$2.90M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$47.44M	USD	Point-in-time
Other Long-Term Liabilities	`OtherLiabilitiesNoncurrent`	$51.03M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.01B	USD	Point-in-time
Total liabilities	`Liabilities`	$963.39M	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`	$9.40M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$13.23M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.44B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.49B	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$1.50B	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`	$1.32B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$2.46B	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$2.47B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$1.48B	USD	1 Quarter
Net sales	`Revenues`	$1.49B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.12B	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.13B	USD	1 Quarter
Gross profit	`GrossProfit`	$348.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$371.15M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$289.83M	USD	1 Quarter
Operating and administrative expenses	`OperatingExpenses`	$276.18M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$652.86K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$780.08K	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$59.63M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$95.76M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$3.61M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.44M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.35M	USD	1 Quarter
Interest expense	`InterestExpense`	$5.71M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$57.53M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$91.85M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$22.48M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$14.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$43.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.37M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$-5.07M	USD	1 Quarter
Change in fair value of interest rate swap	`OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsBeforeTaxParent`	$-1.52M	USD	1 Quarter
Income tax benefit	`OtherComprehensiveIncomeLossTax`	$-1.24M	USD	1 Quarter
Income tax benefit	`OtherComprehensiveIncomeLossTax`	$-372.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-1.15M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.83M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$68.22M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$39.56M	USD	1 Quarter

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$43.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.37M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$29.11M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationAndAmortization`	$28.77M	USD	1 Quarter
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$2.63M	USD	1 Quarter
Non cash operating lease cost	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$1.72M	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$652.86K	USD	1 Quarter
Gain from sale or disposal of assets	`GainLossOnDispositionOfAssets`	$780.08K	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$250.00K	USD	1 Quarter
Receipt of advance payments on purchases contracts	`ReceiptOfAdvancePaymentsOnPurchasesContracts`	$800.00K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-816.14K	USD	1 Quarter
Recognition of advance payments on purchases contracts	`RecognitionOfAdvancePaymentsOnPurchasesContracts`	$-665.58K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.42M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.38M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$23.66M	USD	1 Quarter
Receivables	`IncreaseDecreaseInAccountsAndOtherReceivables`	$9.18M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$7.19M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$6.88M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.76M	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.01M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$1.72M	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$2.63M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-4.84M	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-38.67M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$15.54M	USD	1 Quarter
Net Cash Provided by Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$57.26M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$1.15M	USD	1 Quarter
Proceeds from sales of property and equipment	`ProceedsFromSaleOfOtherPropertyPlantAndEquipment`	$812.58K	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$63.20M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquirePropertyPlantAndEquipment`	$59.34M	USD	1 Quarter
Net Cash Used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-58.19M	USD	1 Quarter
Net Cash Used by Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-62.39M	USD	1 Quarter
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$7.63M	USD	1 Quarter
Principal payments on long-term borrowings	`RepaymentsOfLongTermDebt`	$3.44M	USD	1 Quarter
Repayment of finance lease	`FinanceLeasePrincipalPayments`	$155.34K	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.06M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$3.07M	USD	1 Quarter
Net Cash Used by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.69M	USD	1 Quarter
Net Cash Used by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-6.66M	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-11.62M	USD	1 Quarter
Net Decrease in Cash and Cash Equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-53.51M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$328.54M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$255.58M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$267.20M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$275.03M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$328.54M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$255.58M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$267.20M	USD	Point-in-time
Cash and Cash Equivalents at End of Period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$275.03M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$1.50B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.26B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.46B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.32B	USD	Point-in-time
Net income	`NetIncomeLoss`	$43.39M	USD	1 Quarter
Net income	`NetIncomeLoss`	$69.37M	USD	1 Quarter
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-1.15M	USD	1 Quarter
Other comprehensive income, net of income tax	`OtherComprehensiveIncomeLossNetOfTax`	$-3.83M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.06M	USD	1 Quarter
Cash dividends	`DividendsCommonStockCash`	$3.07M	USD	1 Quarter
Balance	`StockholdersEquity`	$1.50B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.26B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.46B	USD	Point-in-time
Balance	`StockholdersEquity`	$1.32B	USD	Point-in-time

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