10-Q Filing

WEIS MARKETS INC CIK: 105418 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000105418-17-000017`
Period End Date	20170331
Filing Date	20170511
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	wmk-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 24 Cash Flow Statement 58 Comprehensive Income 13

Balance Sheet 76 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.80M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.80M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$14.65M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	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
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$67.17M	USD	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$64.28M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
SERP investment	`SerpInvestment`	$12.64M	USD	Point-in-time
SERP investment	`SerpInvestment`	$11.15M	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$3.38M	USD	Annual
Accumulated other comprehensive income, deferred taxes	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$3.39M	USD	1 Quarter
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$77.45M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$96.17M	USD	Point-in-time
Inventories	`InventoryNet`	$276.78M	USD	Point-in-time
Inventories	`InventoryNet`	$275.22M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$16.31M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$16.93M	USD	Point-in-time
Income taxes recoverable	`IncomeTaxesReceivable`	$1.62M	USD	Point-in-time
Income taxes recoverable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$483.87M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$458.82M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$878.20M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$870.07M	USD	Point-in-time
Goodwill	`Goodwill`	$52.33M	USD	Point-in-time
Goodwill	`Goodwill`	$52.33M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsAssetsAndOtherAssetsNetExcludingGoodwill`	$16.91M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsAssetsAndOtherAssetsNetExcludingGoodwill`	$18.17M	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$170.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$199.16M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.95M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$50.95M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$14.91M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$19.33M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$6.73M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$5.25M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$323.00K	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$276.17M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$226.33M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$64.48M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$70.87M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$14.97M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$15.28M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$21.35M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$21.35M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$126.93M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$119.44M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$7.87M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$8.38M	USD	Point-in-time
Total liabilities	`Liabilities`	$504.58M	USD	Point-in-time
Total liabilities	`Liabilities`	$468.84M	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`	$1.07B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.06B	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $3,393 in 2017 and $3,382 in 2016)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.85M	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $3,393 in 2017 and $3,382 in 2016)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$4.92M	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.08B	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.08B	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`	$926.72M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$930.55M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.43B	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`	$852.23M	USD	1 Quarter
Cost of sales, including warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$622.43M	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`	$229.80M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$175.84M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$209.55M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$20.25M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$31.27M	USD	1 Quarter
Investment income and interest expense	`InvestmentIncomeLossAndInterestExpense`	$637.00K	USD	1 Quarter
Investment income and interest expense	`InvestmentIncomeLossAndInterestExpense`	$824.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$21.07M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$31.91M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.24M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$11.78M	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.84M	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`	$0.75	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.44	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Income taxes paid	`IncomeTaxesPaidNet`	$157.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	$258.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	-	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$18.37M	USD	1 Quarter
Gain on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$75.00K	USD	1 Quarter
Gain on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$796.00K	USD	1 Quarter
Gain on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$269.00K	USD	1 Quarter
Gain on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.48M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.15M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.57M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-3.35M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-5.66M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-17.54M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-21.24M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-45.79M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.95M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$12.77M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-525.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$110.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$14.63M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$38.07M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.06M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$29.93M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.14M	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`	$2.58M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$1.90M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	-	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$4.01M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$15.21M	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.24M	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$549.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$763.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$1.49M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-17.19M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-15.32M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.40M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	-	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`	$-1.67M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-8.07M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$12.80M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.36M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$14.65M	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`	$30.40M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$14.65M	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`	$30.40M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.29M	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$570.00K	USD	1 Quarter
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$11.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$20.13M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$111.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	-	USD	1 Quarter
Available-for-sale marketable securities Unrealized holding gains arising during period (Net of deferred taxes of $11 and $570, respectively)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$816.00K	USD	1 Quarter
Available-for-sale marketable securities Unrealized holding gains arising during period (Net of deferred taxes of $11 and $570, respectively)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$64.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income (Net of deferred taxes of $0 and $111, respectively)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$158.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$658.00K	USD	1 Quarter
Other comprehensive income, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$64.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$20.79M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$11.90M	USD	1 Quarter

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