10-Q Filing

WEIS MARKETS INC CIK: 105418 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0000105418-19-000022`
Period End Date	20190331
Filing Date	20190509
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	wmk-20190330.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 24 Cash Flow Statement 60 Stockholders Equity 14 Comprehensive Income 13

Balance Sheet 80 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`	$37.81M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$50.22M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$59.06M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	26.90M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$54.30M	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`AociTaxAttributableToParent`	$353.00K	USD	Point-in-time
SERP investment	`SerpInvestment`	$14.69M	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`AociTaxAttributableToParent`	$110.00K	USD	Point-in-time
SERP investment	`SerpInvestment`	$17.40M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	6.15M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$57.28M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$47.95M	USD	Point-in-time
Inventories	`InventoryNet`	$280.62M	USD	Point-in-time
Inventories	`InventoryNet`	$280.76M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$24.29M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$23.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$469.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$460.55M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$887.61M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$883.27M	USD	Point-in-time
Operating lease right-to-use	`OperatingLeaseRightOfUseAsset`	$193.83M	USD	Point-in-time
Operating lease right-to-use	`OperatingLeaseRightOfUseAsset`	-	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`	$22.95M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsAssetsAndOtherAssetsNetExcludingGoodwill`	$17.82M	USD	Point-in-time
Total assets	`Assets`	$1.61B	USD	Point-in-time
Total assets	`Assets`	$1.43B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$191.10M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$177.45M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$45.35M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$28.09M	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityCurrent`	-	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityCurrent`	$37.48M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$15.52M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$15.41M	USD	Point-in-time
Deferred revenue, net	`ContractWithCustomerLiabilityCurrent`	$7.96M	USD	Point-in-time
Deferred revenue, net	`ContractWithCustomerLiabilityCurrent`	$5.90M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$7.28M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$12.84M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$267.21M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$277.16M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$19.98M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$18.11M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$17.79M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$17.80M	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityNoncurrent`	$165.36M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$90.02M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$90.79M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$8.00M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$15.20M	USD	Point-in-time
Total liabilities	`Liabilities`	$409.11M	USD	Point-in-time
Total liabilities	`Liabilities`	$578.32M	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`	$1.17B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.16B	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $353 in 2019 and $110 in 2018)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$262.00K	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $353 in 2019 and $110 in 2018)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$883.00K	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.17B	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.18B	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`	$1.03B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.02B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$992.84M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.00B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.61B	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	`RevenueFromContractWithCustomerExcludingAssessedTax`	$876.11M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$876.72M	USD	1 Quarter
Cost of sales, including advertising, warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$641.20M	USD	1 Quarter
Cost of sales, including advertising, warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$647.17M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$229.55M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$234.91M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$213.57M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$212.07M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$15.98M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$22.84M	USD	1 Quarter
Investment income and interest expense	`InvestmentIncomeLossAndInterestExpense`	$2.90M	USD	1 Quarter
Investment income and interest expense	`InvestmentIncomeLossAndInterestExpense`	$-532.00K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.87M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$22.31M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.57M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$6.12M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.30M	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`	$0.31	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.53	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.60	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`	$51.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$36.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$180.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.19M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.76M	USD	1 Quarter
(Gain) loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-608.00K	USD	1 Quarter
(Gain) loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-30.00K	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 (gain) loss in value of equity securities	`UnrealizedGainLossOnInvestments`	$-780.00K	USD	1 Quarter
Unrealized (gain) loss in value of equity securities	`UnrealizedGainLossOnInvestments`	$625.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.01M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-905.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-12.44M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-138.00K	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-9.89M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-7.63M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.91M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-15.62M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.55M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$7.02M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-398.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-588.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$33.66M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$50.79M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.44M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$21.84M	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$84.00K	USD	1 Quarter
Proceeds from the sale of property and equipment	`ProceedsFromSaleOfPropertyPlantAndEquipment`	$8.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$3.96M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$586.00K	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$1.00M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$235.00K	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	$512.00K	USD	1 Quarter
Proceeds from the sale of marketable securities	`ProceedsFromSaleOfAvailableForSaleSecurities`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$540.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$1.50M	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$933.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$2.72M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-31.34M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.34M	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	-	USD	1 Quarter
Payments on long-term debt	`RepaymentsOfLongTermDebt`	$17.08M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.34M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.07M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.34M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-25.15M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-6.02M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.30M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$37.81M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$47.92M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$31.79M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$50.22M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$37.81M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$47.92M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$31.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$50.22M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance,	`StockholdersEquity`	$1.03B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.02B	USD	Point-in-time
Balance,	`StockholdersEquity`	$992.84M	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.00B	USD	Point-in-time
Net income	`NetIncomeLoss`	$14.30M	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.19M	USD	1 Quarter
Other comprehensive income (loss), net of reclassification adjustments and tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$621.00K	USD	1 Quarter
Other comprehensive income (loss), net of reclassification adjustments and tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$-365.00K	USD	1 Quarter
Dividends paid	`Dividends`	$8.34M	USD	1 Quarter
Dividends paid	`Dividends`	$8.07M	USD	1 Quarter
Balance,	`StockholdersEquity`	$1.03B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.02B	USD	Point-in-time
Balance,	`StockholdersEquity`	$992.84M	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.00B	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$14.30M	USD	1 Quarter
Unrealized holding gains (loss) arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$-158.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$16.19M	USD	1 Quarter
Unrealized holding gains (loss) arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$243.00K	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$15.00K	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	-	USD	1 Quarter
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $243 and ($158), respectively for the thirteen Weeks Ended)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$621.00K	USD	1 Quarter
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $243 and ($158), respectively for the thirteen Weeks Ended)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$-403.00K	USD	1 Quarter
Reclassification adjustment for losses included in net income (Net of deferred taxes of $0 and $15, respectively for the thirteen Weeks Ended)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$-39.00K	USD	1 Quarter
Other comprehensive income gain (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-364.00K	USD	1 Quarter
Other comprehensive income gain (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$621.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$15.83M	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$14.93M	USD	1 Quarter

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