Ingles Markets (IMKTA) 10-Q 4 Aug 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Jun. 27, 2015	Aug. 03, 2015
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 27, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	IMKTA
Entity Registrant Name	INGLES MARKETS INC
Entity Central Index Key	50,493
Current Fiscal Year End Date	--09-26
Entity Filer Category	Accelerated Filer
Class A Common Stock
Entity Common Stock, Shares Outstanding		13,817,351
Class B Common Stock
Entity Common Stock, Shares Outstanding		6,442,425

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 27, 2015	Sep. 27, 2014
Current Assets:
Cash and cash equivalents	$ 8,643,246	$ 8,613,628
Receivables - Net	68,362,732	60,991,062
Inventories	334,921,157	329,523,604
Other current Assets	17,907,092	14,789,004
Total Current Assets	429,834,227	413,917,298
Property and Equipment - Net	1,207,630,939	1,218,607,029
Other Assets	28,214,254	24,427,237
Total Assets	1,665,679,420	1,656,951,564
Current Liabilities:
Current portion of long-term debt	13,982,602	12,488,400
Accounts payable - trade	163,990,467	167,314,891
Accrued expenses and current portion of other long-term liabilities	59,416,064	70,944,728
Total Current Liabilities	237,389,133	250,748,019
Deferred Income Taxes	73,218,000	70,040,000
Long-Term Debt	904,185,737	924,771,343
Other Long-Term Liabilities	34,897,858	28,790,035
Total Liabilities	$ 1,249,690,728	$ 1,274,349,397
Stockholders’ Equity
Preferred stock, $0.05 par value; 10,000,000 shares authorized; no shares issued
Common stocks:
Paid-in capital in excess of par value	$ 12,311,249	$ 12,311,249
Retained earnings	402,664,454	369,277,929
Total Stockholders’ Equity	415,988,692	382,602,167
Total Liabilities and Stockholders’ Equity	1,665,679,420	1,656,951,564
Class A Common Stock
Common stocks:
Common stock, value	690,673	677,017
Total Stockholders’ Equity	690,673	677,017
Class B Common Stock
Common stocks:
Common stock, value	322,316	335,972
Total Stockholders’ Equity	$ 322,316	$ 335,972

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 27, 2015	Sep. 27, 2014
Preferred stock, par value	$ 0.05	$ 0.05
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Class A Common Stock
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	13,813,451	13,540,333
Common stock, shares outstanding	13,813,451	13,540,333
Class B Common Stock
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	6,446,325	6,719,443
Common stock, shares outstanding	6,446,325	6,719,443

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($)	3 Months Ended		9 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Net sales	$ 945,974,494	$ 978,261,998	$ 2,825,806,017	$ 2,871,147,455
Cost of goods sold	723,810,548	763,110,952	2,160,558,522	2,246,366,795
Gross profit	222,163,946	215,151,046	665,247,495	624,780,660
Operating and administrative expenses	190,730,349	182,718,535	563,287,200	538,551,319
(Loss) gain from sale or disposal of assets	(318,664)	927,851	320,340	1,136,008
Income from operations	31,114,933	33,360,362	102,280,635	87,365,349
Other income, net	522,876	671,320	1,649,603	2,249,183
Interest expense	10,583,124	11,568,452	34,184,004	35,049,245
Income before income taxes	21,054,685	22,463,230	69,746,234	54,565,287
Income tax expense	7,278,000	8,629,000	26,629,000	20,743,000
Net income	$ 13,776,685	$ 13,834,230	$ 43,117,234	$ 33,822,287
Class A Common Stock
Per share amounts:
Basic earnings per common share	$ 0.70	$ 0.63	$ 2.19	$ 1.54
Diluted earnings per common share	0.68	0.61	2.13	1.49
Cash dividends per common share:
Common Stock	0.165	0.165	0.495	0.495
Class B Common Stock
Per share amounts:
Basic earnings per common share	0.63	0.57	1.99	1.40
Diluted earnings per common share	0.63	0.57	1.99	1.40
Cash dividends per common share:
Common Stock	$ 0.150	$ 0.150	$ 0.450	$ 0.450

Condensed Consolidated Stateme5

Condensed Consolidated Statements Of Changes In Stockholders' Equity - USD ($)	Class A Common Stock	Class B Common Stock	Paid-in Capital in Excess of Par Value	Retained Earnings	Total
Balance (in shares) at Sep. 28, 2013	13,437,975	9,321,801
Balance at Sep. 28, 2013	$ 671,899	$ 466,090	$ 77,186,249	$ 332,315,037	$ 410,639,275
Net income				33,822,287	33,822,287
Cash dividends				(10,847,800)	(10,847,800)
Common stock conversions	$ 4,083	$ (4,083)
Common stock conversions (in shares)	81,658	(81,658)
Balance (in shares) at Jun. 28, 2014	13,519,633	9,240,143
Balance at Jun. 28, 2014	$ 675,982	$ 462,007	77,186,249	355,289,524	433,613,762
Balance (in shares) at Sep. 27, 2014	13,540,333	6,719,443
Balance at Sep. 27, 2014	$ 677,017	$ 335,972	12,311,249	369,277,929	382,602,167
Net income				43,117,234	43,117,234
Cash dividends				(9,730,709)	(9,730,709)
Common stock conversions	$ 13,656	$ (13,656)
Common stock conversions (in shares)	273,118	(273,118)
Balance (in shares) at Jun. 27, 2015	13,813,451	6,446,325
Balance at Jun. 27, 2015	$ 690,673	$ 322,316	$ 12,311,249	$ 402,664,454	$ 415,988,692

Condensed Consolidated Stateme6

Condensed Consolidated Statements Of Cash Flows - USD ($)	9 Months Ended
	Jun. 27, 2015	Jun. 28, 2014
Cash Flows from Operating Activities:
Net income	$ 43,117,234	$ 33,822,287
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	76,745,947	72,845,281
Gain from sale or disposal of assets	(320,340)	(1,136,008)
Receipt of advance payments on purchase contracts	3,560,751	2,518,662
Recognition of advance payments on purchase contracts	(3,222,415)	(2,455,180)
Deferred income taxes	3,178,000	(15,362,000)
Changes in operating assets and liabilities:
Receivables	(6,253,362)	(5,332,129)
Inventory	(5,397,552)	(7,392,711)
Other assets	(3,183,166)	10,950,772
Accounts payable and accrued expenses	(7,073,839)	(14,443,183)
Net Cash Provided by Operating Activities	101,151,258	74,015,791
Cash Flows from Investing Activities:
Proceeds from sales of property and equipment	1,224,645	278,166
Capital expenditures	(73,524,173)	(73,095,891)
Net Cash Used by Investing Activities	(72,299,528)	(72,817,725)
Cash Flows from Financing Activities:
Proceeds from short-term borrowings	579,129,600	327,226,731
Payments on short-term borrowings	(587,750,633)	(327,226,731)
Proceeds from other long-term borrowings		14,000,000
Principal payments on long-term borrowings	(10,470,370)	(17,169,242)
Dividends paid	(9,730,709)	(10,847,800)
Net Cash Used by Financing Activities	(28,822,112)	(14,017,042)
Net Increase (Decrease) in Cash and Cash Equivalents	29,618	(12,818,976)
Cash and Cash Equivalents at Beginning of Period	8,613,628	16,844,007
Cash and Cash Equivalents at End of Period	$ 8,643,246	$ 4,025,031

Basis Of Preparation

Basis Of Preparation	9 Months Ended
	Jun. 27, 2015
Basis Of Preparation [Abstract]
Basis Of Preparation	A. BASIS OF PREPARATION In the opinion of management, the accompanying unaudited interim financial statements contain all adjustments necessary to present fairly the financial position of Ingles Markets, Incorporated and Subsidiaries (the “Company”) as of June 27, 2015, the results of operations for the three-month and nine-month periods ended June 27, 2015 and June 28, 2014, and the changes in stockholders’ equity and cash flows for the nine-month periods ended June 27, 2015 and June 28, 2014. The adjustments made are of a normal recurring nature. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission for Form 10-Q. It is suggested that these unaudited interim financial statements be read in conjunction with the audited financial statements and the notes thereto included in the Annual Report on Form 10-K for the year ended September 27, 2014 filed by the Company under the Securities Exchange Act of 1934 on December 16, 2014. The results of operations for the three-month and nine-month periods ended June 27, 2015 are not necessarily indicative of the results to be expected for the full fiscal year.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Jun. 27, 2015
New Accounting Pronouncements [Abstract]
New Accounting Pronouncements	B. NEW ACCOUNTING PRONOUNCEMENTS There were no new accounting standards adopted in the nine-month period ended June 27, 2015.

Allowance For Doubtful Accounts

Allowance For Doubtful Accounts	9 Months Ended
	Jun. 27, 2015
Allowance For Doubtful Accounts [Abstract]
Allowance For Doubtful Accounts	C. ALLOWANCE FOR DOUBTFUL ACCOUNTS Receivables are presented net of an allowance for doubtful accounts of $606,000 at June 27, 2015 and $307,000 at September 27, 2014.

Income Taxes

Income Taxes	9 Months Ended
	Jun. 27, 2015
Income Taxes [Abstract]
Income Taxes	D. INCOME TAXES The Company’s effective tax rate differs from the federal statutory rate primarily as a result of state income taxes and tax credits. The Company has unrecognized tax benefits and could also incur interest and penalties related to uncertain tax positions. The amounts are not material and are not expected to significantly increase or decrease within the next twelve months. The Company files income tax returns with federal and various state jurisdictions. With few exceptions, the Company is no longer subject to federal and state income tax examinations by tax authorities for the years before 2011 .

Accrued Expenses And Current Po

Accrued Expenses And Current Portion Of Other Long-Term Liabilities	9 Months Ended
	Jun. 27, 2015
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Accrued Expenses And Current Portion Of Other Long-Term Liabilities	E. ACCRUED EXPENSES AND CURRENT PORTION OF OTHER LONG-TERM LIABILITIES Accrued expenses and current portion of other long-term liabilities consist of the following: June 27, September 27, 2015 2014 Property, payroll and other taxes payable $ $ Salaries, wages and bonuses payable Self-insurance liabilities Interest payable Other $ $ Self-insurance liabilities are established for general liability claims, workers’ compensation and employee group medical and dental benefits based on claims filed and estimates of claims incurred but not reported. The Company is insured for covered costs in excess of $750,000 per occurrence for workers’ compensation, $500,000 for general liability and $325,000 per covered person for medical care benefits for a policy year. At June 27, 2015 the Company’s self-insurance liabilities totaled $35.7 million. Of this amount, $14.4 million is accounted for as a current liability and $21.3 million as a long-term liability, which is inclusive of $ 4.6 million of expected self-insurance recoveries from excess cost insurance or other sources that are recorded as a receivable at June 27, 2015. Employee insurance expense, including workers’ compensation and medical care benefits, net of employee contributions, totaled $9.6 million and $8.0 million for the three-month periods ended June 27, 2015 and June 28, 2014, respectively. For the nine-month periods ended June 27, 2015 and June 28, 2014, employee insurance expense, net of employee contributions, totaled $26.0 million and $20.0 million, respectively.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Jun. 27, 2015
Long-Term Debt [Abstract]
Long-Term Debt	F. LONG-TERM DEBT In June 2013, the Company issued $700.0 million aggregate principal amount of senior notes due in 2023 (the “Notes”) in a private placement. The Notes bear an interest rate of 5.750% per annum and were issued at par. Note proceeds were used to repay $575.0 million aggregate principal amount of senior notes maturing in 2017 , $52.0 million of indebtedness outstanding under the Company’s line of credit, and to pay costs related to the offering of the Notes. Remaining Note proceeds were used for general corporate purposes, including capital expenditures. The Company may redeem all or a portion of the Notes at any time on or after June 15, 2018 at the following redemption prices (expressed as percentages of the principal amount), if redeemed during the 12-month period beginning June 15 of the years indicated below: Year 2018 102.875% 2019 101.917% 2020 100.958% 2021 and thereafter 100.000% In connection with the offering of the Notes, the Company extended the maturity date of its $175.0 million line of credit from December 29, 2015 to June 12, 2018 and modified certain interest rate options and covenants. At June 27, 2015, the Company had $ 21.3 million borrowings outstanding under the line of credit. The line of credit provides the Company with various interest rate options based on the prime rate, the Federal Funds Rate, or the London Interbank Offering Rate. The line allows the Company to issue up to $30.0 million in unused letters of credit, of which $11.0 million of unused letters of credit were issued at June 27, 2015. The Company is not required to maintain compensating balances in connection with the line of credit. On December 29, 2010, the Company completed the funding of $99.7 million of Recovery Zone Facility Bonds (the “Bonds”) for: (A) acquisition, construction and equipping of an approximately 830,000 square foot new warehouse and distribution center located in Buncombe County, North Carolina (the “Project”), and (B) the payment of certain expenses incurred in connection with the issuance of the Bonds. The final maturity date of the Bonds is January 1, 2036 . The Bonds were issued by the Buncombe County Industrial Facilities and Pollution Control Financing Authority and were purchased by certain financial institutions. Under a Continuing Covenant and Collateral Agency Agreement (the “Covenant Agreement”) between the financial institutions and the Company, the financial institutions would hold the Bonds until January 2, 2018, subject to certain events. Mandatory redemption of the Bonds by the Company in the annual amount of $4.5 million began on January 1, 2014 . In connection with the offering of the Notes, the Company extended the maturity date of the Covenant Agreement from January 2, 2018 to June 30, 2021 and modified certain interest rate options and covenants. The Company may redeem the Bonds without penalty or premium at any time prior to June 30, 2021. Interest earned by bondholders on the Bonds is exempt from Federal and North Carolina income taxation. The interest rate on the Bonds is equal to one month LIBOR (adjusted monthly) plus a credit spread , adjusted to reflect the income tax exemption. The Company’s obligation to repay the Bonds is collateralized by the Project. Additional collateral was required in order to meet certain loan to value criteria in the Covenant Agreement. The Covenant Agreement incorporates substantially all financial covenants included in the line of credit. The Notes, the Bonds and the line of credit contain provisions that under certain circumstances would permit lending institutions to terminate or withdraw their respective extensions of credit to the Company. Included among the triggering factors permitting the termination or withdrawal of the line of credit to the Company are certain events of default, including both monetary and non-monetary defaults, the initiation of bankruptcy or insolvency proceedings, and the failure of the Company to meet certain financial covenants designated in its respective loan documents. The Company was in compliance with all financial covenants related to the line of credit at June 27, 2015. The Company’s long-term debt agreements generally have cross-default provisions which could result in the acceleration of payments due under the Company’s line of credit, Bond and Notes indenture in the event of default under any one instrument.

Dividends

Dividends	9 Months Ended
	Jun. 27, 2015
Dividends [Abstract]
Dividends	G. DIVIDENDS The Company paid cash dividends of $0.165 for each share of Class A Common Stock and $0.15 for each share of Class B Common Stock on October 23, 2014 to stockholders of record on October 9, 2014 . The Company paid cash dividends of $0.165 for each share of Class A Common Stock and $0.15 for each share of Class B Common Stock on January 22, 2015 to stockholders of record on January 8, 2015 . The Company paid cash dividends of $0.165 for each share of Class A Common Stock and $0.15 for each share of Class B Common Stock on April 23, 2015 to stockholders of record on April 9, 2015 . For additional information regarding the dividend rights of the Class A Common Stock and Class B Common Stock, please see Note 8, “Stockholders’ Equity” to the Consolidated Financial Statements of the Annual Report on Form 10-K filed by the Company under the Securities Exchange Act of 1934 on December 16, 2014.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Jun. 27, 2015
Earnings Per Common Share [Abstract]
Earnings Per Common Share	H. EARNINGS PER COMMON SHARE The Company has two classes of common stock: Class A which is publicly traded, and Class B, which has no public market. The Class B Common Stock has restrictions on transfer; however, each share is convertible into one share of Class A Common Stock at any time . Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share . Each share of Class A Common Stock is entitled to receive cash dividends equal to 110% of any cash dividend paid on Class B Common Stock. The Company calculates earnings per share using the two-class method in accordance with FASB ASC Topic 260. The two-class method of computing basic earnings per share for each period reflects the cash dividends paid per share for each class of stock, plus the amount of allocated undistributed earnings per share computed using the participation percentage which reflects the dividend rights of each class of stock. Diluted earnings per share is calculated assuming conversion of all shares of Class B Common Stock to shares of Class A Common Stock on a share-for-share basis . The tables below reconcile the numerators and denominators of basic and diluted earnings per share for current and prior periods. Three Months Ended Nine Months Ended June 27, 2015 June 27, 2015 Class A Class B Class A Class B Numerator: Allocated net income Net income allocated, basic $ $ $ $ Conversion of Class B to Class A shares — — Net income allocated, diluted $ $ $ $ Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic Conversion of Class B to Class A shares — — Weighted average shares outstanding, diluted Earnings per share Basic $ $ $ $ Diluted $ $ $ $ The per share amounts for the third quarter of fiscal 2014 and the nine months ended June 28, 2014 are based on the following amounts: Three Months Ended Nine Months Ended June 28, 2014 June 28, 2014 Class A Class B Class A Class B Numerator: Allocated net income Net income allocated, basic $ $ $ $ Conversion of Class B to Class A shares — — Net income allocated, diluted $ $ $ $ Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic Conversion of Class B to Class A shares — — Weighted average shares outstanding, diluted Earnings per share Basic $ $ $ $ Diluted $ $ $ $

Segment Information

Segment Information	9 Months Ended
	Jun. 27, 2015
Segment Information [Abstract]
Segment Information	I. SEGMENT INFORMATION The Company operates one primary business segment, retail grocery sales. The “Other” activities include fluid dairy and shopping center rentals. Information about the Company’s operations by lines of business (amounts in thousands) is as follows: Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2015 2014 2015 2014 Revenues from unaffiliated customers: Grocery sales $ $ $ $ Other Total revenues from unaffiliated customers $ $ $ $ Income from operations: Grocery sales $ $ $ $ Other Total income from operations $ $ $ $ June 27, September 27, 2015 2014 Assets: Grocery sales $ $ Other Elimination of intercompany receivable Total assets $ $ Sales by product category (amounts in thousands) are as follows: Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2015 2014 2015 2014 Grocery $ $ $ $ Non-foods Perishables Gasoline Total grocery segment $ $ $ $ The grocery category includes grocery, dairy, and frozen foods. The non-foods include alcoholic beverages, tobacco, pharmacy, health and video. The perishables category includes meat, produce, deli and bakery. For the three-month periods ended June 27, 2015 and June 28, 2014, respectively, the fluid dairy operation had $11.1 million and $14.4 million in sales to the grocery sales operation. The fluid dairy operation had $38.1 million and $44.5 million in sales to the grocery sales operation for the nine-month periods ended June 27, 2015 and June 28, 2014, respectively. These sales have been eliminated in consolidation and are excluded from the amounts in the table above.

Fair Values Of Financial Instru

Fair Values Of Financial Instruments	9 Months Ended
	Jun. 27, 2015
Fair Values Of Financial Instruments [Abstract]
Fair Values Of Financial Instruments	J. FAIR VALUES OF FINANCIAL INSTRUMENTS The carrying amounts for cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to the short-term maturity of these instruments. The fair value of the Company’s debt is estimated using valuation techniques under the accounting guidance related to fair value measurements based on observable and unobservable inputs. Observable inputs reflect readily available data from independent sources, while unobservable inputs reflect the Company’s market assumptions. These inputs are classified into the following hierarchy: Level 1 Inputs – Quoted prices for identical assets or liabilities in active markets. Level 2 Inputs – Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 Inputs – Pricing inputs are unobservable for the assets or liabilities and include situations where there is little, if any, market activity for the assets or liabilities. The inputs into the determination of fair value require significant management judgment or estimation. The carrying amount and fair value of the Company’s debt at June 27, 2015 is as follows (in thousands): Carrying Fair Value Amount Fair Value Measurements Senior Notes $ $ Level 2 Facility Bonds Level 2 Real estate and equipment notes payable Level 2 Line of credit payable Level 2 Total debt $ $ The fair values for Level 2 measurements were determined primarily using market yields and taking into consideration the underlying terms of the debt.

Nonqualified Investment Plan

Nonqualified Investment Plan	9 Months Ended
	Jun. 27, 2015
Nonqualified Investment Plan [Abstract]
Nonqualified Investment Plan	K. NONQUALIFIED INVESTMENT PLAN The purpose of the Executive Nonqualified Excess Plan is to provide retirement benefits similar to the Company’s Investment/Profit Sharing Plan to certain of the Company’s management employees who are otherwise subject to limited participation in the 401(k) feature of the Company’s Investment/Profit Sharing Plan. Participant retirement account balances are liabilities of the Company. Assets of the plan are assets of the Company and are held in trust for employees and distributed upon retirement, death, disability, in-service distributions, or other termination of employment. In accordance with the trust, the Company may not use these assets for general corporate purposes. During the nine months ended June 27, 2015, the Company invested a portion of the proceeds of liquidated life insurance policy assets in marketable securities. These marketable securities will be liquidated and invested in other life insurance policies in future periods. Life insurance policies and marketable securities held in the trust are included in the caption “Other assets” in the Condensed Consolidated Balance Sheets.

Subsequent Events

Subsequent Events	9 Months Ended
	Jun. 27, 2015
Subsequent Events [Abstract]
Subsequent Events	L. SUBSEQUENT EVENTS We have evaluated subsequent events and transactions for potential recognition or disclosure in the financial statements through the day the financial statements were issued.

Accrued Expenses And Current 19

Accrued Expenses And Current Portion Of Other Long-Term Liabilities (Tables)	9 Months Ended
	Jun. 27, 2015
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Accrued Expenses and Current Portion of Other Long-Term Liabilities	June 27, September 27, 2015 2014 Property, payroll and other taxes payable $ $ Salaries, wages and bonuses payable Self-insurance liabilities Interest payable Other $ $

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Jun. 27, 2015
Long-Term Debt [Abstract]
Schedule Of Redemption Prices Of Senior Notes	Year 2018 102.875% 2019 101.917% 2020 100.958% 2021 and thereafter 100.000%

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Jun. 27, 2015
Earnings Per Common Share [Abstract]
Reconciliation Of Numerators And Denominators Of Basic And Diluted Earnings Per Share	Three Months Ended Nine Months Ended June 27, 2015 June 27, 2015 Class A Class B Class A Class B Numerator: Allocated net income Net income allocated, basic $ $ $ $ Conversion of Class B to Class A shares — — Net income allocated, diluted $ $ $ $ Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic Conversion of Class B to Class A shares — — Weighted average shares outstanding, diluted Earnings per share Basic $ $ $ $ Diluted $ $ $ $ The per share amounts for the third quarter of fiscal 2014 and the nine months ended June 28, 2014 are based on the following amounts: Three Months Ended Nine Months Ended June 28, 2014 June 28, 2014 Class A Class B Class A Class B Numerator: Allocated net income Net income allocated, basic $ $ $ $ Conversion of Class B to Class A shares — — Net income allocated, diluted $ $ $ $ Denominator: Weighted average shares outstanding Weighted average shares outstanding, basic Conversion of Class B to Class A shares — — Weighted average shares outstanding, diluted Earnings per share Basic $ $ $ $ Diluted $ $ $ $

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jun. 27, 2015
Segment Information [Abstract]
Operations By Lines Of Business	Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2015 2014 2015 2014 Revenues from unaffiliated customers: Grocery sales $ $ $ $ Other Total revenues from unaffiliated customers $ $ $ $ Income from operations: Grocery sales $ $ $ $ Other Total income from operations $ $ $ $ June 27, September 27, 2015 2014 Assets: Grocery sales $ $ Other Elimination of intercompany receivable Total assets $ $
Sales By Product Category	Three Months Ended Nine Months Ended June 27, June 28, June 27, June 28, 2015 2014 2015 2014 Grocery $ $ $ $ Non-foods Perishables Gasoline Total grocery segment $ $ $ $

Fair Values Of Financial Inst23

Fair Values Of Financial Instruments (Tables)	9 Months Ended
	Jun. 27, 2015
Fair Values Of Financial Instruments [Abstract]
Carrying Amount And Fair Value Of Debt	Carrying Fair Value Amount Fair Value Measurements Senior Notes $ $ Level 2 Facility Bonds Level 2 Real estate and equipment notes payable Level 2 Line of credit payable Level 2 Total debt $ $

Allowance For Doubtful Accoun24

Allowance For Doubtful Accounts (Details) - USD ($)	Jun. 27, 2015	Sep. 27, 2014
Allowance For Doubtful Accounts [Abstract]
Allowance for doubtful accounts receivable	$ 606,000	$ 307,000

Accrued Expenses And Current 25

Accrued Expenses And Current Portion Of Other Long-Term Liabilities (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Workers' compensation per occurrence covered under insurance cost	$ 750,000		$ 750,000
General liability	500,000		500,000
Medical care benefits per person covered under insurance cost	325,000		325,000
Self insurance reserves	35,700,000		35,700,000
Receivable for expected self-insurance recoveries from excess cost insurance	4,600,000		4,600,000
Employee insurance expense	9,600,000	$ 8,000,000	26,000,000	$ 20,000,000
Self insurance reserves, current	14,400,000		14,400,000
Self insurance reserves, noncurrent	$ 21,300,000		$ 21,300,000

Accrued Expenses And Current 26

Accrued Expenses And Current Portion Of Other Long-Term Liabilities (Accrued Expenses And Current Portion Of Other Long-Term Liabilities) (Details) - USD ($)	Jun. 27, 2015	Sep. 27, 2014
Accrued Expenses And Current Portion Of Other Long-Term Liabilities [Abstract]
Property, payroll, and other taxes payable	$ 14,721,659	$ 16,469,128
Salaries, wages and bonuses payable	24,785,619	25,514,842
Self-insurance liabilities	14,413,349	12,934,920
Interest payable	2,593,078	12,676,648
Other	2,902,359	3,349,190
Total	$ 59,416,064	$ 70,944,728

Long-Term Debt (Narrative) (Det

Long-Term Debt (Narrative) (Details)	9 Months Ended
	Jun. 27, 2015USD ($)	Jun. 30, 2013USD ($)	Dec. 29, 2010USD ($)ft²
Debt Instrument [Line Items]
Unused letters of credit issued	$ 11,000,000
Repayment of line of credit	$ 52,000,000
Redemption of senior notes, date	Jun. 15, 2018
Maximum amount of unused letters of credit allowed to issue	$ 30,000,000
Senior Notes, Interest Rate Of 5.75%, Maturing 2023 [Member]
Debt Instrument [Line Items]
Maturity period of Senior note	2,023
Redemption period of senior notes	redeem all or a portion of the Notes at any time on or after June 15, 2018
Amount of line of credit arrangement	$ 175,000,000
Principal amount		$ 700,000,000
Interest rate of Senior note		5.75%
Total line of credit commitments	$ 21,300,000
Senior Notes Maturing 2017 [Member]
Debt Instrument [Line Items]
Maturity period of Senior note	2,017
Principal amount		$ 575,000,000
Recovery Zone Facility Bond [Member]
Debt Instrument [Line Items]
Final maturity date of bonds	Jan. 1, 2036
Beginning of redemption period of bonds	Jan. 1, 2014
Description of interest rate on bonds	interest rate on the Bonds is equal to one month LIBOR (adjusted monthly) plus a credit spread
Total amount of bonds funded			$ 99,700,000
Total area of new warehouse and distribution center | ft²			830,000
Annual amount of redemption of bonds	$ 4,500,000

Long-Term Debt (Schedule Of Red

Long-Term Debt (Schedule Of Redemption Prices Of Senior Notes) (Details)	9 Months Ended
	Jun. 27, 2015
Long-Term Debt [Abstract]
2,018	102.875%
2,019	101.917%
2,020	100.958%
2021 and thereafter	100.00%

Dividends (Details)

Dividends (Details) - $ / shares	Apr. 23, 2015	Jan. 22, 2015	Oct. 23, 2014	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Class A Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock				$ 0.165	$ 0.165	$ 0.495	$ 0.495
Class B Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock				$ 0.150	$ 0.150	$ 0.450	$ 0.450
Dividend 1 [Member]
Dividends Payable [Line Items]
Dividend payment date						Oct. 23, 2014
Dividend record date						Oct. 9, 2014
Dividend 1 [Member] | Class A Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock			$ 0.165
Dividend 1 [Member] | Class B Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock			$ 0.15
Dividend 2 [Member]
Dividends Payable [Line Items]
Dividend payment date						Jan. 22, 2015
Dividend record date						Jan. 8, 2015
Dividend 2 [Member] | Class A Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.165
Dividend 2 [Member] | Class B Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock		$ 0.15
Dividend 3 [Member]
Dividends Payable [Line Items]
Dividend payment date						Apr. 23, 2015
Dividend record date						Apr. 9, 2015
Dividend 3 [Member] | Class A Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock	$ 0.165
Dividend 3 [Member] | Class B Common Stock
Dividends Payable [Line Items]
Cash dividends per share of common stock	$ 0.15

Earnings Per Common Share (Narr

Earnings Per Common Share (Narrative) (Details) - 9 months ended Jun. 27, 2015	itemshares
Earnings Per Share [Line Items]
Conversion feature for Class B Common Stock	each share is convertible into one share of Class A Common Stock at any time
Number of shares in conversion | shares	1
Voting rights for shareholders	Each share of Class A Common Stock has one vote per share and each share of Class B Common Stock has ten votes per share
Percentage of cash dividend on Class B Common Stock entitled to receive for each share of Class A Common Stock	110.00%
Class A Common Stock
Earnings Per Share [Line Items]
Number of votes for common stock	1
Class B Common Stock
Earnings Per Share [Line Items]
Number of votes for common stock	10

Earnings Per Common Share (Reco

Earnings Per Common Share (Reconciliation Of Numerators And Denominators Of Basic And Diluted Earnings Per Share) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Class A Common Stock
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income allocated, basic	$ 9,646,468	$ 8,527,374	$ 29,934,820	$ 20,784,430
Conversion of Class B to Class A shares	4,130,217	5,306,856	13,182,414	13,037,857
Net income allocated, diluted	$ 13,776,685	$ 13,834,230	$ 43,117,234	$ 33,822,287
Weighted average shares outstanding, basic	13,777,019	13,509,637	13,657,699	13,468,474
Conversion of Class B to Class A shares	6,482,757	9,250,139	6,602,077	9,291,302
Weighted average shares outstanding, diluted	20,259,776	22,759,776	20,259,776	22,759,776
Earnings per share, Basic	$ 0.70	$ 0.63	$ 2.19	$ 1.54
Earnings per share, Diluted	$ 0.68	$ 0.61	$ 2.13	$ 1.49
Class B Common Stock
Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share [Line Items]
Net income allocated, basic	$ 4,130,217	$ 5,306,856	$ 13,182,414	$ 13,037,857
Net income allocated, diluted	$ 4,130,217	$ 5,306,856	$ 13,182,414	$ 13,037,857
Weighted average shares outstanding, basic	6,482,757	9,250,139	6,602,077	9,291,302
Weighted average shares outstanding, diluted	6,482,757	9,250,139	6,602,077	9,291,302
Earnings per share, Basic	$ 0.63	$ 0.57	$ 1.99	$ 1.40
Earnings per share, Diluted	$ 0.63	$ 0.57	$ 1.99	$ 1.40

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 27, 2015USD ($)	Jun. 28, 2014USD ($)	Jun. 27, 2015USD ($)segment	Jun. 28, 2014USD ($)
Segment Reporting Information [Line Items]
Number of segments			1
Fluid dairy
Segment Reporting Information [Line Items]
Sales | $	$ 11.1	$ 14.4	$ 38.1	$ 44.5

Segment Information (Operations

Segment Information (Operations By Lines Of Business) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014	Sep. 27, 2014
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	$ 945,974,000	$ 978,262,000	$ 2,825,806,000	$ 2,871,147,000
Total income from operations	31,114,933	33,360,362	102,280,635	87,365,349
Total assets	1,665,679,420		1,665,679,420		$ 1,656,951,564
Elimination of intercompany receivable
Segment Reporting Information By Segment [Line Items]
Total assets	(1,689,000)		(1,689,000)		(2,770,000)
Grocery sales
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	911,698,000	938,386,000	2,717,538,000	2,756,920,000
Total income from operations	27,686,000	30,229,000	92,261,000	78,678,000
Total assets	1,433,644,000		1,433,644,000		1,515,055,000
Other Segment [Member]
Segment Reporting Information By Segment [Line Items]
Total revenues from unaffiliated customers	34,276,000	39,876,000	108,268,000	114,227,000
Total income from operations	3,429,000	$ 3,131,000	10,020,000	$ 8,687,000
Total assets	$ 233,724,000		$ 233,724,000		$ 144,667,000

Segment Information (Sales By P

Segment Information (Sales By Product Category) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Jun. 27, 2015	Jun. 28, 2014	Jun. 27, 2015	Jun. 28, 2014
Segment Reporting Information By Segment [Line Items]
Net sales	$ 945,974,494	$ 978,261,998	$ 2,825,806,017	$ 2,871,147,455
Grocery
Segment Reporting Information By Segment [Line Items]
Net sales	335,974,000	341,719,000	1,042,559,000	1,056,276,000
Non-foods
Segment Reporting Information By Segment [Line Items]
Net sales	195,484,000	185,188,000	571,059,000	543,641,000
Perishables
Segment Reporting Information By Segment [Line Items]
Net sales	250,895,000	241,899,000	731,507,000	698,951,000
Gasoline
Segment Reporting Information By Segment [Line Items]
Net sales	129,345,000	169,580,000	372,413,000	458,052,000
Grocery sales
Segment Reporting Information By Segment [Line Items]
Net sales	$ 911,698,000	$ 938,386,000	$ 2,717,538,000	$ 2,756,920,000

Fair Values Of Financial Inst35

Fair Values Of Financial Instruments (Details) $ in Thousands	Jun. 27, 2015USD ($)
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	$ 918,168
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	930,459
Level 2 | Senior Notes, net of unamortized original issue discount | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	700,000
Level 2 | Senior Notes, net of unamortized original issue discount | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	712,250
Level 2 | Recovery Zone Facility Bonds | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	90,680
Level 2 | Recovery Zone Facility Bonds | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	90,680
Level 2 | Real estate and equipment notes payable | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	106,199
Level 2 | Real estate and equipment notes payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	106,240
Level 2 | Line of credit payable | Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	21,289
Level 2 | Line of credit payable | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated fair value of debt	$ 21,289