10-Q Filing

WEIS MARKETS INC CIK: 105418 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0000105418-16-000076`
Period End Date	20160331
Filing Date	20160505
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	wmk-20160326.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, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Common stock, par value	`CommonStockNoParValue`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.40M	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 authorized	`CommonStockSharesAuthorized`	100.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.11M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$78.56M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$91.63M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
SERP investment	`SerpInvestment`	$9.84M	USD	Point-in-time
SERP investment	`SerpInvestment`	$9.08M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
Accumulated other comprehensive income, deferred taxes	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$3.32M	USD	Annual
Accumulated other comprehensive income, deferred taxes	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$3.78M	USD	1 Quarter
Accounts receivable, net	`AccountsReceivableNetCurrent`	$82.99M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$88.08M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Inventories	`InventoryNet`	$226.05M	USD	Point-in-time
Inventories	`InventoryNet`	$229.40M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$17.20M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$16.63M	USD	Point-in-time
Income taxes recoverable	`IncomeTaxesReceivable`	$1.67M	USD	Point-in-time
Income taxes recoverable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$444.47M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$454.65M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$738.99M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$745.68M	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`	$7.66M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsNetExcludingGoodwill`	$7.16M	USD	Point-in-time
Total assets	`Assets`	$1.24B	USD	Point-in-time
Total assets	`Assets`	$1.23B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$138.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$160.44M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$43.62M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$37.82M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$17.30M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$16.77M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$4.38M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$6.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$11.11M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$215.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$221.93M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$13.36M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$14.37M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$22.76M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$22.76M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$96.33M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$97.02M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$962.00K	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$8.13M	USD	Point-in-time
Total liabilities	`Liabilities`	$364.21M	USD	Point-in-time
Total liabilities	`Liabilities`	$348.51M	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`	$1.02B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.01B	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $3,782 in 2016 and $3,323 in 2015)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.76M	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $3,782 in 2016 and $3,323 in 2015)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$5.42M	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.04B	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.02B	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`	$884.46M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$871.75M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.23B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.24B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueGoodsNet`	$738.20M	USD	1 Quarter
Net sales	`SalesRevenueGoodsNet`	$712.43M	USD	1 Quarter
Cost of sales, including warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$517.31M	USD	1 Quarter
Cost of sales, including warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$531.09M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$207.11M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$195.12M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$175.84M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$175.25M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$19.86M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$31.27M	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$637.00K	USD	1 Quarter
Investment income	`InvestmentIncomeNet`	$532.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$20.40M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.91M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.78M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$7.07M	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.13M	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`	$0.50	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.75	USD	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$13.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.13M	USD	1 Quarter
Depreciation	`Depreciation`	$15.30M	USD	1 Quarter
Depreciation	`Depreciation`	$16.23M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$2.13M	USD	1 Quarter
Amortization	`AmortizationOfIntangibleAssets`	$2.00M	USD	1 Quarter
(Gain) loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$75.00K	USD	1 Quarter
(Gain) loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-8.00K	USD	1 Quarter
Gain on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$269.00K	USD	1 Quarter
Gain on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$6.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-3.73M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.15M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.35M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.09M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-5.66M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-4.61M	USD	1 Quarter
Income taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-1.67M	USD	1 Quarter
Income taxes recoverable	`IncreaseDecreaseInIncomeTaxesReceivable`	$-612.00K	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-10.03M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-21.24M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$11.11M	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$5.67M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-525.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-183.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$38.07M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$31.03M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.93M	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`	$124.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$1.28M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$9.91M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$15.21M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$3.19M	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$644.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$549.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$873.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$763.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-28.83M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.19M	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	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.07M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.80M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-5.87M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$30.40M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.60M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$17.11M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$22.99M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.60M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$17.11M	USD	Point-in-time

Comprehensive Income 14 line items

Line Item	Tag	Value	Unit	Period
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$570.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$13.32M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.13M	USD	1 Quarter
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$13.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$3.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$111.00K	USD	1 Quarter
Unrealized holding gains arising during period (Net of deferred taxes of $570 and $13, respectively)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$816.00K	USD	1 Quarter
Unrealized holding gains arising during period (Net of deferred taxes of $570 and $13, respectively)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$18.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income (Net of deferred taxes of $111 and $3, respectively)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$3.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income (Net of deferred taxes of $111 and $3, respectively)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$158.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$15.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$658.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$20.79M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$13.34M	USD	1 Quarter

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