10-Q Filing

WEIS MARKETS INC CIK: 105418 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0000105418-20-000016`
Period End Date	20200331
Filing Date	20200507
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	wmk-20200328.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 26 Cash Flow Statement 58 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`	$66.87M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$37.81M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.79M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$158.28M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	33.05M	shares	Point-in-time
Marketable securities	`AvailableForSaleSecuritiesCurrent`	$63.54M	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`	$62.05M	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`AociTaxAttributableToParent`	$629.00K	USD	Point-in-time
Accumulated other comprehensive income, deferred taxes	`AociTaxAttributableToParent`	$593.00K	USD	Point-in-time
SERP investment	`SerpInvestment`	$16.35M	USD	Point-in-time
SERP investment	`SerpInvestment`	$18.93M	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`	$55.76M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$56.95M	USD	Point-in-time
Inventories	`InventoryNet`	$279.81M	USD	Point-in-time
Inventories	`InventoryNet`	$233.42M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$24.68M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$23.38M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$551.73M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$508.29M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$886.86M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$886.93M	USD	Point-in-time
Operating lease right-to-use	`OperatingLeaseRightOfUseAsset`	$207.74M	USD	Point-in-time
Operating lease right-to-use	`OperatingLeaseRightOfUseAsset`	$210.20M	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`	$17.82M	USD	Point-in-time
Intangible and other assets, net	`IntangibleAssetsAssetsAndOtherAssetsNetExcludingGoodwill`	$17.71M	USD	Point-in-time
Total assets	`Assets`	$1.72B	USD	Point-in-time
Total assets	`Assets`	$1.68B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$180.72M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$208.03M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$39.53M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$35.38M	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityCurrent`	$39.11M	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityCurrent`	$38.74M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$15.72M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveCurrent`	$15.80M	USD	Point-in-time
Deferred revenue, net	`ContractWithCustomerLiabilityCurrent`	$8.66M	USD	Point-in-time
Deferred revenue, net	`ContractWithCustomerLiabilityCurrent`	$6.34M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$17.52M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$8.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$321.81M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$291.94M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$18.72M	USD	Point-in-time
Postretirement benefit obligations	`PostretirementBenefitObligations`	$22.14M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$17.62M	USD	Point-in-time
Accrued self-insurance	`SelfInsuranceReserveNoncurrent`	$17.62M	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityNoncurrent`	$177.37M	USD	Point-in-time
Operating leases	`OperatingLeaseLiabilityNoncurrent`	$179.65M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$97.04M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$97.06M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$8.42M	USD	Point-in-time
Other	`OtherLiabilitiesNoncurrent`	$6.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$639.18M	USD	Point-in-time
Total liabilities	`Liabilities`	$616.82M	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`	$1.22B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.20B	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $629 in 2020 and $593 in 2019)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.57M	USD	Point-in-time
Accumulated other comprehensive income (Net of deferred taxes of $629 in 2020 and $593 in 2019)	`AccumulatedOtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$1.48M	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.21B	USD	Point-in-time
Shareholders' equity before treasury stock	`StockholdersEquityBeforeTreasuryStock`	$1.23B	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`	$1.06B	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$1.08B	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 liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.72B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.68B	USD	Point-in-time

Income Statement 26 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$876.72M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$985.82M	USD	1 Quarter
Cost of sales, including advertising, warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$647.17M	USD	1 Quarter
Cost of sales, including advertising, warehousing and distribution expenses	`CostOfSalesIncludingWarehousingAndDistributionExpenses`	$721.67M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$229.55M	USD	1 Quarter
Gross profit on sales	`GrossProfit`	$264.15M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$226.72M	USD	1 Quarter
Operating, general and administrative expenses	`GeneralAndAdministrativeExpense`	$211.73M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$17.82M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$37.43M	USD	1 Quarter
Investment income (loss) and interest expense	`InvestmentIncomeLossAndInterestExpense`	$2.90M	USD	1 Quarter
Investment income (loss) and interest expense	`InvestmentIncomeLossAndInterestExpense`	$-4.02M	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$2.68M	USD	1 Quarter
Other income (expense)	`NonoperatingIncomeExpense`	$-1.84M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$36.09M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$18.87M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$9.40M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$4.57M	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.30M	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`	$0.31	USD	1 Quarter
Cash dividends per share	`CommonStockDividendsPerShareDeclared`	$0.31	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.99	USD	1 Quarter
Basic and diluted earnings per share	`EarningsPerShareBasicAndDiluted`	$0.53	USD	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Income taxes paid	`IncomeTaxesPaidNet`	$89.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaidNet`	$51.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$10.00K	USD	1 Quarter
Interest paid	`InterestPaidNet`	$36.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$26.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.12M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$23.89M	USD	1 Quarter
(Gain) Loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-1.43M	USD	1 Quarter
(Gain) Loss on disposition of fixed assets	`GainLossOnSaleOfPropertyPlantEquipment`	$-608.00K	USD	1 Quarter
(Gain) Loss on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	-	USD	1 Quarter
(Gain) Loss on sale of marketable securities	`AvailableForSaleSecuritiesGrossRealizedGainLossNet`	$8.00K	USD	1 Quarter
Unrealized (gain) loss in value of equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$625.00K	USD	1 Quarter
Unrealized (gain) loss in value of equity securities	`EquitySecuritiesFvNiUnrealizedGainLoss`	$-1.92M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-1.01M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-21.00K	USD	1 Quarter
Unrealized (gain) loss in SERP	`UnrealizedGainLossInSerp`	$1.01M	USD	1 Quarter
Unrealized (gain) loss in SERP	`UnrealizedGainLossInSerp`	$-2.68M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-138.00K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-46.38M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$-9.89M	USD	1 Quarter
Accounts receivable and prepaid expenses	`IncreaseDecreaseInAccountsReceivableAndPrepaidExpenses`	$2.49M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-18.91M	USD	1 Quarter
Accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$14.92M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$5.55M	USD	1 Quarter
Income taxes	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$9.33M	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-53.00K	USD	1 Quarter
Other	`IncreaseDecreaseInOtherOperatingCapitalNet`	$-588.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$124.76M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.65M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.85M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$24.44M	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`	$161.00K	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$2.08M	USD	1 Quarter
Purchase of marketable securities	`PaymentsToAcquireAvailableForSaleSecurities`	$3.96M	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$235.00K	USD	1 Quarter
Proceeds from maturities of marketable securities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$1.80M	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$540.00K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$-41.00K	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$1.71M	USD	1 Quarter
Change in SERP investment	`PaymentsForSerpInvestments`	$91.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-25.02M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-30.33M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.34M	USD	1 Quarter
Dividends paid	`PaymentsOfDividendsCommonStock`	$8.34M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.34M	USD	1 Quarter
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-8.34M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-6.02M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$91.41M	USD	1 Quarter
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$66.87M	USD	Point-in-time
Cash and cash equivalents at beginning of year	`CashAndCashEquivalentsAtCarryingValue`	$37.81M	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`	$158.28M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$66.87M	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`	$31.79M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$158.28M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Balance,	`StockholdersEquity`	$1.06B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.08B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.03B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.02B	USD	Point-in-time
Net income	`NetIncomeLoss`	$26.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.30M	USD	1 Quarter
Other comprehensive income (loss), net of reclassification adjustments and tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$89.00K	USD	1 Quarter
Other comprehensive income (loss), net of reclassification adjustments and tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$621.00K	USD	1 Quarter
Dividends paid	`Dividends`	$8.34M	USD	1 Quarter
Dividends paid	`Dividends`	$8.34M	USD	1 Quarter
Balance,	`StockholdersEquity`	$1.06B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.08B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.03B	USD	Point-in-time
Balance,	`StockholdersEquity`	$1.02B	USD	Point-in-time

Comprehensive Income 13 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$26.69M	USD	1 Quarter
Unrealized holding gains (losses) arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$243.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$14.30M	USD	1 Quarter
Unrealized holding gains (losses) arising during period, deferred taxes	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$38.00K	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	-	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net income, deferred taxes	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesTax`	$2.00K	USD	1 Quarter
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $38 and $243, respectively for the thirteen Weeks Ended)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$621.00K	USD	1 Quarter
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $38 and $243, respectively for the thirteen Weeks Ended)	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsNetOfTax`	$95.00K	USD	1 Quarter
Reclassification adjustment for (gains) losses included in net income (Net of deferred taxes of $2 and $0, respectively for the thirteen Weeks Ended)	`OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax`	$6.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$89.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$621.00K	USD	1 Quarter
Comprehensive income, net of tax	`ComprehensiveIncomeNetOfTax`	$26.78M	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.