10-Q Filing

WEIS MARKETS INC CIK: 105418 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0000105418-15-000023`
Period End Date	20150331
Filing Date	20150501
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	wmk-20150328.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 24 Cash Flow Statement 54 Comprehensive Income 14

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, No Par Value	`CommonStockNoParValue`	-	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.11M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.96M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$26.91M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	100.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$73.96M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$80.48M	USD	Point-in-time
SERP investment	`SerpInvestment`	$9.99M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
SERP investment	`SerpInvestment`	$9.12M	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
Deferred Tax, Other Comprehensive Income	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$3.38M	USD	1 Quarter
Deferred Tax, Other Comprehensive Income	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$3.37M	USD	Annual
Accounts receivable, net	`AccountsReceivableNetCurrent`	$66.09M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$70.64M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Inventories	`Inventories`	$236.55M	USD	Point-in-time
Inventories	`Inventories`	$239.64M	USD	Point-in-time
Treasury Stock, Shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$17.43M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$17.42M	USD	Point-in-time
Income taxes recoverable	`IncomeTaxReceivable`	-	USD	Point-in-time
Income taxes recoverable	`IncomeTaxReceivable`	$612.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$427.64M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$434.39M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$716.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$719.16M	USD	Point-in-time
Goodwill	`Goodwill`	$35.16M	USD	Point-in-time
Goodwill	`Goodwill`	$35.16M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsNetExcludingGoodwill`	$5.30M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsNetExcludingGoodwill`	$4.70M	USD	Point-in-time
Total assets	`Assets`	$1.19B	USD	Point-in-time
Total assets	`Assets`	$1.19B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$137.32M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$144.81M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$30.88M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.59M	USD	Point-in-time
Accrued self-insurance	`AccruedSelfInsurance`	$18.70M	USD	Point-in-time
Accrued self-insurance	`AccruedSelfInsurance`	$19.60M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$4.63M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$6.72M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$5.67M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$5.24M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesCurrent`	$5.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$210.62M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$203.32M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$19.07M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$18.67M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$100.76M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$97.45M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$4.53M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$3.24M	USD	Point-in-time
Total liabilities	`Liabilities`	$333.29M	USD	Point-in-time
Total liabilities	`Liabilities`	$324.38M	USD	Point-in-time
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 26,898,443 shares outstanding	`CommonStockValue`	$9.95M	USD	Point-in-time
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 26,898,443 shares outstanding	`CommonStockValue`	$9.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$998.95M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$993.91M	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $3,381 in 2015 and $3,371 in 2014)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.83M	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $3,381 in 2015 and $3,371 in 2014)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.84M	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.01B	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.01B	USD	Point-in-time
Treasury stock at cost, 6,149,364 shares	`TreasuryStockValue`	$150.86M	USD	Point-in-time
Treasury stock at cost, 6,149,364 shares	`TreasuryStockValue`	$150.86M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$862.89M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$857.83M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.19B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.19B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$687.13M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$712.43M	USD	1 Quarter
Cost of sales, including warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$500.36M	USD	1 Quarter
Cost of sales, including warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$517.31M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$195.12M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$186.77M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$164.47M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$175.61M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$22.30M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$19.50M	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$753.00K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$532.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.03M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$23.06M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$8.29M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.92M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.77M	USD	1 Quarter
Weighted-average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.90M	shares	1 Quarter
Weighted-average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	26.90M	shares	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.30	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.49	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.55	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$13.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.77M	USD	1 Quarter
Depreciation	`Depreciation`	$15.30M	USD	1 Quarter
Depreciation	`Depreciation`	$14.17M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$1.92M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$2.00M	USD	1 Quarter
Loss (gain) on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	1 Quarter
Loss (gain) on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$1.81M	USD	1 Quarter
Gain on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$41.00K	USD	1 Quarter
Gain on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$6.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.88M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.31M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-9.78M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.09M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-4.61M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$6.17M	USD	1 Quarter
Income taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	-	USD	1 Quarter
Income taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-612.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-9.67M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-1.30M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.67M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$4.01M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-168.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-183.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$31.03M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$34.19M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.88M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$20.62M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$27.00K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$2.04M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$603.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$9.91M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$3.19M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$106.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$30.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$644.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$873.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$807.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-17.17M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-28.83M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.07M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.07M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$8.95M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.87M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.11M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.96M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$26.91M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.96M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$26.91M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$658.00K	USD	1 Quarter
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$13.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.11M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.77M	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$18.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$3.00K	USD	1 Quarter
Unrealized holding gains arising during period (Net of deferred taxes of $13 and $658, respectively)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$18.00K	USD	1 Quarter
Unrealized holding gains arising during period (Net of deferred taxes of $13 and $658, respectively)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$933.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income (Net of deferred taxes of $3 and $18, respectively)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$3.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income (Net of deferred taxes of $3 and $18, respectively)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$23.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$15.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$910.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$13.12M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$15.68M	USD	1 Quarter

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