10-Q Filing

WEIS MARKETS INC CIK: 105418 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0000105418-18-000019`
Period End Date	20180331
Filing Date	20180510
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	wmk-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 76 Income Statement 24 Cash Flow Statement 60 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`	$46.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.22M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.63M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$47.92M	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`	$63.66M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$61.21M	USD	Point-in-time
SERP investment	`SerpInvestment`	$14.48M	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$2.31M	USD	Annual
SERP investment	`SerpInvestment`	$15.41M	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax`	$13.00K	USD	1 Quarter
Accounts receivable, net	`AccountsReceivableNetCurrent`	$56.27M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$48.45M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Inventories	`InventoryNet`	$267.06M	USD	Point-in-time
Inventories	`InventoryNet`	$279.51M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$19.62M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$19.43M	USD	Point-in-time
Income taxes recoverable	`IncomeTaxesReceivable`	-	USD	Point-in-time
Income taxes recoverable	`IncomeTaxesReceivable`	$2.05M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$483.31M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$461.97M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$883.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$886.24M	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`	$20.88M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsAssetsAndOtherAssetsNetExcludingGoodwill`	$19.85M	USD	Point-in-time
Total assets	`Assets`	$1.44B	USD	Point-in-time
Total assets	`Assets`	$1.42B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$216.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$200.16M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$34.64M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$33.40M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$16.53M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$17.47M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$5.33M	USD	Point-in-time
Deferred revenue, net	`DeferredRevenueCurrent`	$7.22M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$4.97M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	-	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$274.34M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$261.63M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$17.91M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$34.99M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$18.42M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$18.41M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$20.14M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$20.14M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$86.37M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$87.42M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$13.59M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$13.53M	USD	Point-in-time
Total liabilities	`Liabilities`	$418.01M	USD	Point-in-time
Total liabilities	`Liabilities`	$448.89M	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`	$1.14B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.13B	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $13 in 2018 and $2,310 in 2017)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$5.88M	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $13 in 2018 and $2,310 in 2017)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$34.00K	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.15B	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.14B	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`	$1.00B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$992.84M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.44B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.42B	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Total sales and other revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$852.23M	USD	1 Quarter
Total sales and other revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$876.11M	USD	1 Quarter
Cost of sales, including advertising, warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$623.19M	USD	1 Quarter
Cost of sales, including advertising, warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$641.20M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$234.91M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$229.04M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$208.79M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$212.07M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$20.25M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$22.84M	USD	1 Quarter
Investment income and interest expense	`InvestmentIncomeLossAndInterestExpense`	$-532.00K	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`	$22.31M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.24M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.19M	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`	$0.60	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.44	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Interest paid	`InterestPaidNet`	$180.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$258.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$20.96M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.76M	USD	1 Quarter
(Gain) loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-30.00K	USD	1 Quarter
(Gain) loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$796.00K	USD	1 Quarter
Loss on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
Loss on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$-54.00K	USD	1 Quarter
Unrealized loss in value of equity securities	`UnrealizedGainLossOnInvestments`	$-780.00K	USD	1 Quarter
Unrealized loss in value of equity securities	`UnrealizedGainLossOnInvestments`	-	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-905.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$7.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-12.44M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-1.57M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-7.63M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-10.71M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-45.79M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-15.62M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.95M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$7.02M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-398.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$110.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$7.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.79M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$17.06M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.84M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$1.14M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$586.00K	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`	$1.00M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$4.01M	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$512.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.50M	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.24M	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$1.49M	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$933.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.34M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-15.32M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$17.08M	USD	1 Quarter
Proceeds from long-term debt	`ProceedsFromIssuanceOfLongTermDebt`	$6.40M	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`	$-1.67M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.15M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.30M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-9.19M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$46.82M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$50.22M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$37.63M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$47.92M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$46.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.63M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.92M	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$11.84M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.19M	USD	1 Quarter
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$158.00K	USD	1 Quarter
Unrealized holding gains arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$11.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$15.00K	USD	1 Quarter
Reclassification adjustment for gains included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	-	USD	1 Quarter
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $158 and $11, respectively for the 13 Weeks Ended)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$64.00K	USD	1 Quarter
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $158 and $11, respectively for the 13 Weeks Ended)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$-403.00K	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net income (Net of deferred taxes of $15 and $0, respectively for the 13 Weeks Ended)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$-39.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-364.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$64.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$15.83M	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.