Publix Super Markets (PUSH) 10-Q 1 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 28, 2019	Oct. 15, 2019
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 28, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Registrant Name	PUBLIX SUPER MARKETS INC
Entity Central Index Key	0000081061
Current Fiscal Year End Date	--12-28
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		710,518,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 28, 2019	Dec. 29, 2018
Current assets:
Cash and cash equivalents	$ 1,294,010	$ 599,264
Short-term investments	453,132	560,992
Trade receivables	700,836	682,981
Inventories	1,760,688	1,848,735
Prepaid expenses	98,527	122,224
Total current assets	4,307,193	3,814,196
Long-term investments	7,145,508	6,016,438
Other noncurrent assets	458,207	515,265
Operating lease right-of-use assets	2,909,462	0
Property, plant and equipment	15,058,784	14,174,564
Accumulated depreciation	(5,949,761)	(5,537,947)
Net property, plant and equipment	9,109,023	8,636,617
Total assets	23,929,393	18,982,516
Current liabilities:
Accounts payable	1,815,800	1,864,604
Accrued expenses:
Contributions to retirement plans	467,665	540,760
Self-insurance reserves	153,719	145,241
Salaries and wages	291,702	132,916
Other	564,356	321,080
Current portion of long-term debt	26,354	4,954
Current portion of operating lease liabilities	332,648	0
Total current liabilities	3,652,244	3,009,555
Deferred income taxes	588,319	420,757
Self-insurance reserves	225,324	222,419
Accrued postretirement benefit cost	105,487	105,308
Long-term debt	145,300	162,711
Operating lease liabilities	2,562,160	0
Other noncurrent liabilities	127,010	67,102
Total liabilities	7,405,844	3,987,852
Common stock related to Employee Stock Ownership Plan (ESOP)	3,284,701	3,134,999
Stockholders’ equity:
Common stock of $1 par value. Authorized 1,000,000 shares; issued 722,126 shares in 2019 and 715,445 shares in 2018	722,126	715,445
Additional paid-in capital	3,738,659	3,458,004
Retained earnings	12,441,159	10,840,654
Treasury stock at cost, 11,391 shares in 2019	(500,296)	0
Accumulated other comprehensive earnings (losses)	83,911	(55,762)
Common stock related to ESOP	(3,284,701)	(3,134,999)
Total stockholders’ equity	13,200,858	11,823,342
Noncontrolling interests	37,990	36,323
Total equity	16,523,549	14,994,664
Total liabilities and stockholders' equity	$ 23,929,393	$ 18,982,516

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 28, 2019	Dec. 29, 2018
Statement of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	722,126,000	715,445,000
Treasury stock at cost, shares	11,391,000	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018	Sep. 28, 2019	Sep. 29, 2018
Revenues:
Sales	$ 9,343,380	$ 8,788,762	$ 28,366,021	$ 26,814,561
Other operating income	74,553	69,339	258,938	215,350
Total revenues	9,417,933	8,858,101	28,624,959	27,029,911
Costs and expenses:
Cost of merchandise sold	6,840,075	6,436,041	20,619,057	19,483,545
Operating and administrative expenses	1,965,828	1,838,908	5,857,859	5,486,465
Total costs and expenses	8,805,903	8,274,949	26,476,916	24,970,010
Operating profit	612,030	583,152	2,148,043	2,059,901
Investment income	70,049	230,234	582,378	342,687
Other nonoperating income, net	20,241	19,051	56,836	64,709
Earnings before income tax expense	702,320	832,437	2,787,257	2,467,297
Income tax expense	128,294	154,693	571,203	493,110
Net earnings	$ 574,026	$ 677,744	$ 2,216,054	$ 1,974,187
Weighted average shares outstanding	712,605	723,236	715,053	729,434
Earnings per share	$ 0.81	$ 0.94	$ 3.10	$ 2.71

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018	Sep. 28, 2019	Sep. 29, 2018
Statement of Comprehensive Income [Abstract]
Net earnings	$ 574,026	$ 677,744	$ 2,216,054	$ 1,974,187
Other comprehensive earnings:
Unrealized gain (loss) on debt securities net of income taxes in 2019 and 2018, respectively.	22,131	(2,076)	139,782	(28,657)
Reclassification adjustment for net realized (gain) loss on debt securities net of income taxes in 2019 and 2018, respectively.	(439)	(181)	(109)	266
Adjustment to postretirement benefit obligation net of income taxes in 2018.	0	564	0	1,693
Comprehensive earnings	$ 595,718	$ 676,051	$ 2,355,727	$ 1,947,489

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018	Sep. 28, 2019	Sep. 29, 2018
Statement of Comprehensive Income [Abstract]
Unrealized gain (loss) on debt securities net of income taxes in 2019 and 2018, respectively.	$ 6,776	$ (708)	$ 46,885	$ (9,770)
Reclassification adjustment for net realized (gain) loss on debt securities net of income taxes in 2019 and 2018, respectively.	(149)	(62)	(36)	91
Adjustment to postretirement benefit obligation net of income taxes in 2018.	$ 0	$ 192	$ 0	$ 577

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018
Cash flows from operating activities:
Cash received from customers	$ 28,478,388	$ 26,976,556
Cash paid to employees and suppliers	(25,061,839)	(23,613,609)
Income taxes paid	(361,130)	(548,092)
Self-insured claims paid	(288,782)	(292,064)
Dividends and interest received	159,812	140,673
Other operating cash receipts	255,608	211,856
Other operating cash payments	(15,069)	(12,329)
Net cash provided by operating activities	3,166,988	2,862,991
Cash flows from investing activities:
Payment for capital expenditures	(885,386)	(1,098,845)
Proceeds from sale of property, plant and equipment	7,561	9,408
Payment for investments	(2,214,737)	(1,941,469)
Proceeds from sale and maturity of investments	1,813,477	1,752,100
Net cash used in investing activities	(1,279,085)	(1,278,806)
Cash flows from financing activities:
Payment for acquisition of common stock	(814,306)	(1,192,046)
Proceeds from sale of common stock	233,395	228,032
Dividends paid	(615,549)	(547,693)
Repayment of long-term debt	(7,427)	(42,253)
Other, net	10,730	6,133
Net cash used in financing activities	(1,193,157)	(1,547,827)
Net increase in cash and cash equivalents	694,746	36,358
Cash and cash equivalents at beginning of period	599,264	579,925
Cash and cash equivalents at end of period	1,294,010	616,283
Reconciliation of net earnings to net cash provided by operating activities:
Net earnings	2,216,054	1,974,187
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	534,747	501,098
Increase in last-in, first out (LIFO) reserve	30,788	22,926
Retirement contributions paid or payable in common stock	295,407	273,950
Deferred income taxes	120,713	47,828
Loss on disposal and impairment of property, plant and equipment	5,775	10,612
Gain on investments	(446,852)	(249,808)
Net amortization of investments	33,102	50,357
Changes in operating assets and liabilities providing (requiring) cash:
Trade receivables	(18,633)	21,566
Inventories	57,259	100,983
Other assets	47,293	64,758
Accounts payable and accrued expenses	264,323	262,581
Federal and state income taxes	27,863	(217,775)
Other liabilities	(851)	(272)
Total adjustments	950,934	888,804
Net cash provided by operating activities	$ 3,166,988	$ 2,862,991

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS EQUITY CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Common Stock (Acquired from) Sold to Stockholders	Accumulated Other Comprehensive Earnings (Losses)	Common Stock Related To ESOP
Beginning Balance at Dec. 30, 2017	$ 11,017,149	$ 733,440	$ 3,139,647	$ 10,044,564	$ 0	$ 152,636	$ (3,053,138)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	656,877			680,271		(23,394)
Dividends per share	(168,597)			(168,597)
Contribution of shares to retirement plans	349,424	6,221	261,423		81,780
Acquisition of shares from stockholders	(432,894)				(432,894)
Sale of shares to stockholders	106,814	531	21,632		84,651
Change for ESOP related shares	(402,207)						(402,207)
Cumulative effect of net unrealized gain on equity securities reclassified to retained earnings	0			198,310		(198,310)
Ending Balance at Mar. 31, 2018	11,126,566	740,192	3,422,702	10,754,548	(266,463)	(69,068)	(3,455,345)
Beginning Balance at Dec. 30, 2017	11,017,149	733,440	3,139,647	10,044,564	0	152,636	(3,053,138)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	1,947,489
Ending Balance at Sep. 29, 2018	11,666,996	740,595	3,439,412	11,669,368	(921,510)	(72,372)	(3,188,497)
Beginning Balance at Mar. 31, 2018	11,126,566	740,192	3,422,702	10,754,548	(266,463)	(69,068)	(3,455,345)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	614,561			616,172		(1,611)
Dividends per share	(190,655)			(190,655)
Acquisition of shares from stockholders	(317,877)				(317,877)
Sale of shares to stockholders	47,461	1	6		47,454
Change for ESOP related shares	205,027						205,027
Ending Balance at Jun. 30, 2018	11,485,083	740,193	3,422,708	11,180,065	(536,886)	(70,679)	(3,250,318)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	676,051			677,744		(1,693)
Dividends per share	(188,441)			(188,441)
Acquisition of shares from stockholders	(441,275)				(441,275)
Sale of shares to stockholders	73,757	402	16,704		56,651
Change for ESOP related shares	61,821						61,821
Ending Balance at Sep. 29, 2018	11,666,996	740,595	3,439,412	11,669,368	(921,510)	(72,372)	(3,188,497)
Beginning Balance at Dec. 29, 2018	11,823,342	715,445	3,458,004	10,840,654	0	(55,762)	(3,134,999)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	1,040,785			980,971		59,814
Dividends per share	(185,835)			(185,835)
Contribution of shares to retirement plans	367,951	5,605	235,017		127,329
Acquisition of shares from stockholders	(333,857)				(333,857)
Sale of shares to stockholders	113,196	621	26,019		86,556
Change for ESOP related shares	(375,184)						(375,184)
Ending Balance at Mar. 30, 2019	12,450,398	721,671	3,719,040	11,635,790	(119,972)	4,052	(3,510,183)
Beginning Balance at Dec. 29, 2018	11,823,342	715,445	3,458,004	10,840,654	0	(55,762)	(3,134,999)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	2,355,727
Ending Balance at Sep. 28, 2019	13,200,858	722,126	3,738,659	12,441,159	(500,296)	83,911	(3,284,701)
Beginning Balance at Mar. 30, 2019	12,450,398	721,671	3,719,040	11,635,790	(119,972)	4,052	(3,510,183)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	719,224			661,057		58,167
Dividends per share	(215,552)			(215,552)
Acquisition of shares from stockholders	(256,851)				(256,851)
Sale of shares to stockholders	40,282	0	6		40,276
Change for ESOP related shares	159,560						159,560
Ending Balance at Jun. 29, 2019	12,897,061	721,671	3,719,046	12,081,295	(336,547)	62,219	(3,350,623)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive Earnings	595,718			574,026		21,692
Dividends per share	(214,162)			(214,162)
Acquisition of shares from stockholders	(223,598)				(223,598)
Sale of shares to stockholders	79,917	455	19,613		59,849
Change for ESOP related shares	65,922						65,922
Ending Balance at Sep. 28, 2019	$ 13,200,858	$ 722,126	$ 3,738,659	$ 12,441,159	$ (500,296)	$ 83,911	$ (3,284,701)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) (Parentheticals) - $ / shares shares in Thousands	3 Months Ended
	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018
Statements of Stockholders' Equity (Parenthetical) [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.30	$ 0.30	$ 0.26	$ 0.26	$ 0.26	$ 0.23
Contribution of shares to retirement plans	0	0	8,587	0	0	8,440
Acquisition of shares from stockholders	5,061	5,790	7,802	10,424	7,623	10,714
Sale of shares to stockholders	1,811	904	2,641	1,735	1,139	2,590

Basis of Presentation (Notes)

Basis of Presentation (Notes)	9 Months Ended
	Sep. 28, 2019
Accounting Policies [Abstract]
Basis of Presentation [Text Block]	(1) Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Publix Super Markets, Inc. and subsidiaries (the Company) have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Accordingly, the accompanying statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments that are of a normal and recurring nature necessary to present fairly the Company’s financial position and results of operations. Due to the seasonal nature of the Company’s business, the results of operations for the three and nine months ended September 28, 2019 are not necessarily indicative of the results for the entire 2019 fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 29, 2018 . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Notes)	9 Months Ended
	Sep. 28, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments [Text Block]	(2) Fair Value of Financial Instruments The fair value of certain of the Company’s financial instruments, including cash and cash equivalents, trade receivables and accounts payable, approximates their respective carrying amounts due to their short-term maturity. The fair value of investments is based on market prices using the following measurement categories: Level 1 – Fair value is determined by using quoted prices in active markets for identical investments. Investments included in this category are equity securities (exchange traded funds and individual equity securities). Level 2 – Fair value is determined by using other than quoted prices. By using observable inputs (for example, benchmark yields, interest rates, reported trades and broker dealer quotes), the fair value is determined through processes such as benchmark curves, benchmarking of like securities and matrix pricing of corporate, state and municipal bonds by using pricing of similar bonds based on coupons, ratings and maturities. Investments included in this category are primarily debt securities (tax exempt and taxable bonds), including restricted investments in taxable bonds held as collateral. Level 3 – Fair value is determined by using other than observable inputs. Fair value is determined by using the best information available in the circumstances and requires significant management judgment or estimation. No investments are currently included in this category. Following is a summary of fair value measurements for investments as of September 28, 2019 and December 29, 2018 : Fair Value Level 1 Level 2 Level 3 (Amounts are in thousands) September 28, 2019 $ 7,598,640 1,844,244 5,754,396 — December 29, 2018 6,577,430 2,372,931 4,204,499 —

Investments (Notes)

Investments (Notes)	9 Months Ended
	Sep. 28, 2019
Investments, Debt and Equity Securities [Abstract]
Investments [Tex Block]	(3) Investments (a) Debt Securities Following is a summary of debt securities as of September 28, 2019 and December 29, 2018 : Cost Gross Gains Gross Losses Fair Value (Amounts are in thousands) September 28, 2019 Tax exempt bonds $ 893,665 1,930 889 894,706 Taxable bonds 4,244,287 113,021 3,369 4,353,939 Restricted investments 169,832 10,080 — 179,912 $ 5,307,784 125,031 4,258 5,428,557 December 29, 2018 Tax exempt bonds $ 1,256,673 184 12,759 1,244,098 Taxable bonds 2,527,468 1,737 55,085 2,474,120 Restricted investment 160,318 520 346 160,492 $ 3,944,459 2,441 68,190 3,878,710 The Company maintains restricted investments primarily for the benefit of the Company’s insurance carrier related to self-insurance reserves. These investments are held as collateral and not used for claim payments. The cost and fair value of debt securities by expected maturity as of September 28, 2019 and December 29, 2018 are as follows: September 28, 2019 December 29, 2018 Cost Fair Value Cost Fair Value (Amounts are in thousands) Due in one year or less $ 453,132 453,132 563,272 560,992 Due after one year through five years 3,556,932 3,610,463 2,831,916 2,768,971 Due after five years through ten years 1,292,049 1,359,068 542,488 541,852 Due after ten years 5,671 5,894 6,783 6,895 $ 5,307,784 5,428,557 3,944,459 3,878,710 Following is a summary of temporarily impaired debt securities by the time period impaired as of September 28, 2019 and December 29, 2018 : Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Amounts are in thousands) September 28, 2019 Tax exempt bonds $ 383,034 501 171,681 388 554,715 889 Taxable bonds 420,027 1,297 518,304 2,072 938,331 3,369 $ 803,061 1,798 689,985 2,460 1,493,046 4,258 December 29, 2018 Tax exempt bonds $ 25,150 95 1,182,783 12,664 1,207,933 12,759 Taxable bonds 645,379 5,821 1,464,208 49,264 2,109,587 55,085 Restricted investment 28,687 346 — — 28,687 346 $ 699,216 6,262 2,646,991 61,928 3,346,207 68,190 There are 169 debt securities contributing to the total unrealized losses of $4,258,000 as of September 28, 2019 . Unrealized losses related to debt securities are primarily due to increases in interest rates that occurred since the debt securities were purchased. The Company continues to receive scheduled principal and interest payments on these debt securities. (b) Equity Securities In 2018, the Company adopted the Accounting Standards Update (ASU) requiring equity securities be measured at fair value with net unrealized gains and losses from changes in the fair value recognized in earnings (fair value adjustment). The fair value of equity securities was $2,170,083,000 and $2,698,720,000 as of September 28, 2019 and December 29, 2018 , respectively. Prior to adoption of the ASU, equity securities were classified as available-for-sale and measured at fair value. Changes in fair value determined to be temporary were reported in other comprehensive earnings net of income taxes. Upon adoption of the ASU, the Company reclassified the cumulative effect of the net unrealized gain on equity securities net of income taxes as of December 31, 2017 of $198,310,000 from accumulated other comprehensive earnings to retained earnings. The fair value adjustment includes the cumulative effect of the ASU reclassified to retained earnings as of December 31, 2017. (c) Investment Income In the following table, net realized gain on the sale of investments represents the difference between the cost and the proceeds from the sale of debt and equity securities. The net realized gain on the sale of investments excludes the net gain or loss on the sale of equity securities previously recognized through the fair value adjustment, which is presented separately. Following is a summary of investment income for the three and nine months ended September 28, 2019 and September 29, 2018 : Three Months Ended Nine Months Ended September 28, 2019 September 29, 2018 September 28, 2019 September 29, 2018 (Amounts are in thousands) Interest and dividend income $ 46,796 32,726 135,526 92,879 Net realized gain on sale of investments 33,798 69,251 104,242 92,918 80,594 101,977 239,768 185,797 Fair value adjustment, due to net unrealized (loss) gain, on equity securities held at end of period (26,936 ) 166,267 292,381 217,314 Net loss (gain) on sale of equity securities previously recognized through fair value adjustment 16,391 (38,010 ) 50,229 (60,424 ) $ 70,049 230,234 582,378 342,687

Lessee, Lease Lessee, Lease (No

Lessee, Lease Lessee, Lease (Notes)	9 Months Ended
	Sep. 28, 2019
Lessee Disclosure [Abstract]
Leases of Lessee Disclosure [Text Block]	(4) Leases (a) Lessee In 2019 , the Company adopted the ASU requiring the lease rights and obligations arising from existing and new lease agreements be recognized as assets and liabilities on the balance sheet. The Company adopted the ASU on a modified retrospective basis and elected the transitional provisions eliminating the requirement to restate reporting periods prior to the date of adoption. The Company also elected to not reassess the original conclusions reached regarding lease identification, lease classification and initial direct costs for leases entered into prior to the adoption of the ASU. As of December 30, 2018, the Company recognized its operating lease right-of-use assets and operating lease liabilities on the balance sheet. The adoption of the ASU did not have a material effect on the Company’s results of operations and had no effect on the Company’s cash flows. The Company included finance lease right-of-use assets of $149,309,000 in net property, plant and equipment and finance lease liabilities of $29,410,000 and $102,247,000 in other accrued expenses and other noncurrent liabilities, respectively, on the condensed consolidated balance sheet as of September 28, 2019 . The Company conducts a major portion of its retail operations from leased locations. The Company determines whether a lease exists at inception. Initial lease terms are typically 20 years followed by five year renewal options and may include rent escalation clauses. A renewal option is included in the right-of-use asset and lease liability to the extent it is reasonably certain the option will be exercised. The present value of future payments for each lease is determined by using the Company’s incremental borrowing rate at the time of lease commencement. Additionally, the Company has operating leases for certain transportation and other equipment with initial lease terms ranging up to five years. Operating lease expense primarily represents fixed lease payments for operating leases recognized on a straight-line basis over the applicable lease term. Variable lease expense represents the payment of real estate taxes, insurance, maintenance and, for certain locations, additional rentals based on a percentage of sales in excess of stipulated minimums (excess rent). The payment of variable real estate taxes, insurance and maintenance is generally based on the Company’s pro-rata share of total shopping center square footage. The Company estimates excess rent, where applicable, based on annual sales projections and uses the straight-line method to amortize the cost to variable lease expense. Lease expense for the three and nine months ended September 28, 2019 was as follows: Three Months Ended Nine Months Ended September 28, 2019 September 28, 2019 (Amounts are in thousands) Operating lease expense $ 107,262 324,735 Finance lease expense: Amortization of right-of-use assets 1,686 6,022 Interest on lease liabilities 752 2,189 Variable lease expense 15,189 44,077 Sublease rental income (660 ) (2,203 ) $ 124,229 374,820 Supplemental cash flow information related to leases for the nine months ended September 28, 2019 was as follows: Nine Months Ended September 28, 2019 (Amounts are in thousands) Operating cash flows from rent paid for operating lease liabilities $ 315,418 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 331,274 Finance leases 61,672 The weighted-average remaining lease term and weighted-average discount rate as of September 28, 2019 are as follows: September 28, 2019 Weighted-average remaining lease term: Operating leases 12 years Finance leases 18 years Weighted-average discount rate: Operating leases 3.5 % Finance leases 3.9 % Maturities of lease liabilities as of September 28, 2019 are as follows: Year Operating Leases Finance Leases (Amounts are in thousands) 2019 $ 106,457 2,130 2020 423,548 32,749 2021 394,701 7,781 2022 358,936 7,781 2023 316,511 22,497 Thereafter 1,997,096 94,752 3,597,249 167,690 Less: Imputed interest (702,441 ) (36,033 ) $ 2,894,808 131,657 As of September 28, 2019 , the Company has lease agreements that have not yet commenced with fixed lease payments totaling $ 309,611,000 . These leases will commence in future periods with terms ranging up to 20 years.

Lessor, Lease Lessor, Lease (No

Lessor, Lease Lessor, Lease (Notes)	9 Months Ended
	Sep. 28, 2019
Lessor Disclosure [Abstract]
Lessor, Operating Leases [Text Block]	(b) Lessor The Company leases space in owned shopping centers to tenants under noncancelable operating leases. The Company determines whether a lease exists at inception. Initial lease terms are typically five years followed by five year renewal options and may include rent escalation clauses. Lease income primarily represents fixed lease payments received from tenants recognized on a straight-line basis over the applicable lease term. Variable lease income represents the receipt of real estate taxes, insurance, maintenance and, for certain locations, excess rent. Total lease income for the three and nine months ended September 28, 2019 was as follows: Three Months Ended Nine Months Ended September 28, 2019 September 28, 2019 (Amounts are in thousands) Lease income $ 37,924 111,331 Variable lease income 11,155 32,355 $ 49,079 143,686 Fixed lease payments to be received for all noncancelable operating leases as of September 28, 2019 are as follows: Year (Amounts are in thousands) 2019 $ 39,407 2020 139,491 2021 113,695 2022 87,697 2023 64,394 Thereafter 201,943 $ 646,627

Consolidation of Joint Ventures

Consolidation of Joint Ventures and Long-Term Debt (Notes)	9 Months Ended
	Sep. 28, 2019
Consolidation Of Joint Ventures And Long Term Debt [Abstract]
Consolidation Of Joint Ventures And Long Term Debt Disclosure [Text Block]	(5) Consolidation of Joint Ventures and Long-Term Debt From time to time, the Company enters into a joint venture (JV), in the legal form of a limited liability company, with certain real estate developers to partner in the development of a shopping center with the Company as the anchor tenant. The Company consolidates certain of these JVs in which it has a controlling financial interest. As of September 28, 2019 , the carrying amounts of the assets and liabilities of the consolidated JVs were $154,123,000 and $77,897,000 , respectively. As of December 29, 2018 , the carrying amounts of the assets and liabilities of the consolidated JVs were $144,197,000 and $71,342,000 , respectively. The assets are owned by and the liabilities are obligations of the JVs, not the Company, except for a portion of the long-term debt of certain JVs guaranteed by the Company. The JVs are financed with capital contributions from the members, loans and/or the cash flows generated by the JV owned shopping centers once in operation. Total earnings attributable to noncontrolling interests for 2019 and 2018 were immaterial. The Company’s involvement with these JVs does not have a significant effect on the Company’s financial condition, results of operations or cash flows. The Company’s long-term debt results primarily from the consolidation of loans of certain JVs and loans assumed in connection with the acquisition of certain shopping centers with the Company as the anchor tenant. No loans were assumed during the nine months ended September 28, 2019 . The Company assumed loans totaling $9,936,000 during the nine months ended September 29, 2018 . Maturities of JV loans range from June 2020 through April 2027 and have variable interest rates based on a LIBOR index plus 175 to 250 basis points. Maturities of assumed shopping center loans range from December 2020 through January 2027 and have fixed interest rates ranging from 3.7% to 7.5% .

Retirement Plan (Notes)

Retirement Plan (Notes)	9 Months Ended
	Sep. 28, 2019
Retirement Benefits [Abstract]
Retirement Plan [Text Block]	(6) Retirement Plan The Company has a trusteed, noncontributory Employee Stock Ownership Plan (ESOP) for the benefit of eligible employees. Since the Company’s common stock is not traded on an established securities market, the ESOP includes a put option for shares of the Company’s common stock distributed from the ESOP. Shares are distributed from the ESOP primarily to separated vested participants and certain eligible participants who elect to diversify their account balances. Under the Company’s administration of the ESOP’s put option, if the owners of distributed shares desire to sell their shares, the Company is required to purchase the shares at fair value for a specified time period after distribution of the shares from the ESOP. The fair value of distributed shares subject to the put option totaled $283,179,000 and $288,580,000 as of September 28, 2019 and December 29, 2018 , respectively. The cost of the shares held by the ESOP totaled $3,001,522,000 and $2,846,419,000 as of September 28, 2019 and December 29, 2018 , respectively. Due to the Company’s obligation under the put option, the distributed shares subject to the put option and the shares held by the ESOP are classified as temporary equity in the mezzanine section of the condensed consolidated balance sheets and totaled $3,284,701,000 and $3,134,999,000 as of September 28, 2019 and December 29, 2018 , respectively. The fair value of the shares held by the ESOP totaled $8,121,725,000 and $8,061,399,000 as of September 28, 2019 and December 29, 2018 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Earnings (Losses) (Notes)	9 Months Ended
	Sep. 28, 2019
Equity [Abstract]
Comprehensive Earnings (Losses) Note [Text Block]	(7) Accumulated Other Comprehensive Earnings (Losses) A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the three months ended September 28, 2019 and September 29, 2018 is as follows: Investments Postretirement Benefit Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2019 Balances at June 29, 2019 $ 68,948 (6,729 ) 62,219 Unrealized gain on debt securities 22,131 — 22,131 Net realized gain on debt securities reclassified to investment income (439 ) — (439 ) Net other comprehensive earnings 21,692 — 21,692 Balances at September 28, 2019 $ 90,640 (6,729 ) 83,911 2018 Balances at June 30, 2018 $ (56,387 ) (14,292 ) (70,679 ) Unrealized loss on debt securities (2,076 ) — (2,076 ) Net realized gain on debt securities reclassified to investment income (181 ) — (181 ) Adjustment to postretirement benefit obligation — 564 564 Net other comprehensive (losses) earnings (2,257 ) 564 (1,693 ) Balances at September 29, 2018 $ (58,644 ) (13,728 ) (72,372 ) A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the nine months ended September 28, 2019 and September 29, 2018 is as follows: Investments Postretirement Benefits Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2019 Balances at December 29, 2018 $ (49,033 ) (6,729 ) (55,762 ) Unrealized gain on debt securities 139,782 — 139,782 Net realized gain on debt securities reclassified to investment income (109 ) — (109 ) Net other comprehensive earnings 139,673 — 139,673 Balances at September 28, 2019 $ 90,640 (6,729 ) 83,911 2018 Balances at December 30, 2017 $ 168,057 (15,421 ) 152,636 Unrealized loss on debt securities (28,657 ) — (28,657 ) Net realized loss on debt securities reclassified to investment income 266 — 266 Adjustment to postretirement benefit obligation — 1,693 1,693 Net other comprehensive (losses) earnings (28,391 ) 1,693 (26,698 ) Cumulative effect of net unrealized gain on equity securities reclassified to retained earnings (198,310 ) — (198,310 ) Balances at September 29, 2018 $ (58,644 ) (13,728 ) (72,372 )

Subsequent Event (Notes)

Subsequent Event (Notes)	9 Months Ended
	Sep. 28, 2019
Subsequent Events [Abstract]
Subsequent Events [Text Block]	(8) Subsequent Event On October 1, 2019 , the Company declared a quarterly dividend on its common stock of $0.30 per share or $213,200,000 , payable November 1, 2019 to stockholders of record as of the close of business October 15, 2019 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 28, 2019
Accounting Policies [Abstract]
Basis of Presentation [Policy Text Block]	(1) Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Publix Super Markets, Inc. and subsidiaries (the Company) have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) for interim financial reporting. Accordingly, the accompanying statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, these statements include all adjustments that are of a normal and recurring nature necessary to present fairly the Company’s financial position and results of operations. Due to the seasonal nature of the Company’s business, the results of operations for the three and nine months ended September 28, 2019 are not necessarily indicative of the results for the entire 2019 fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 29, 2018 . The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 28, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements for Investments [Table Text Block]	Following is a summary of fair value measurements for investments as of September 28, 2019 and December 29, 2018 : Fair Value Level 1 Level 2 Level 3 (Amounts are in thousands) September 28, 2019 $ 7,598,640 1,844,244 5,754,396 — December 29, 2018 6,577,430 2,372,931 4,204,499 —

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 28, 2019
Investments, Debt and Equity Securities [Abstract]
Available For Sale Debt Securities [Table Text Block]	Following is a summary of debt securities as of September 28, 2019 and December 29, 2018 : Cost Gross Gains Gross Losses Fair Value (Amounts are in thousands) September 28, 2019 Tax exempt bonds $ 893,665 1,930 889 894,706 Taxable bonds 4,244,287 113,021 3,369 4,353,939 Restricted investments 169,832 10,080 — 179,912 $ 5,307,784 125,031 4,258 5,428,557 December 29, 2018 Tax exempt bonds $ 1,256,673 184 12,759 1,244,098 Taxable bonds 2,527,468 1,737 55,085 2,474,120 Restricted investment 160,318 520 346 160,492 $ 3,944,459 2,441 68,190 3,878,710
Amortized Cost and Fair Value of Available For Sale Debt Securities by Expected Maturity [Table Text Block]	The cost and fair value of debt securities by expected maturity as of September 28, 2019 and December 29, 2018 are as follows: September 28, 2019 December 29, 2018 Cost Fair Value Cost Fair Value (Amounts are in thousands) Due in one year or less $ 453,132 453,132 563,272 560,992 Due after one year through five years 3,556,932 3,610,463 2,831,916 2,768,971 Due after five years through ten years 1,292,049 1,359,068 542,488 541,852 Due after ten years 5,671 5,894 6,783 6,895 $ 5,307,784 5,428,557 3,944,459 3,878,710
Temporarily Impaired Available For Sale Debt Securities by Time Period Impaired [Table Text Block]	Following is a summary of temporarily impaired debt securities by the time period impaired as of September 28, 2019 and December 29, 2018 : Less Than 12 Months 12 Months or Longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses (Amounts are in thousands) September 28, 2019 Tax exempt bonds $ 383,034 501 171,681 388 554,715 889 Taxable bonds 420,027 1,297 518,304 2,072 938,331 3,369 $ 803,061 1,798 689,985 2,460 1,493,046 4,258 December 29, 2018 Tax exempt bonds $ 25,150 95 1,182,783 12,664 1,207,933 12,759 Taxable bonds 645,379 5,821 1,464,208 49,264 2,109,587 55,085 Restricted investment 28,687 346 — — 28,687 346 $ 699,216 6,262 2,646,991 61,928 3,346,207 68,190
Investment Income [Table Text Block]	Following is a summary of investment income for the three and nine months ended September 28, 2019 and September 29, 2018 : Three Months Ended Nine Months Ended September 28, 2019 September 29, 2018 September 28, 2019 September 29, 2018 (Amounts are in thousands) Interest and dividend income $ 46,796 32,726 135,526 92,879 Net realized gain on sale of investments 33,798 69,251 104,242 92,918 80,594 101,977 239,768 185,797 Fair value adjustment, due to net unrealized (loss) gain, on equity securities held at end of period (26,936 ) 166,267 292,381 217,314 Net loss (gain) on sale of equity securities previously recognized through fair value adjustment 16,391 (38,010 ) 50,229 (60,424 ) $ 70,049 230,234 582,378 342,687

Lessee, Lease Lessee, Lease (Ta

Lessee, Lease Lessee, Lease (Tables)	9 Months Ended
	Sep. 28, 2019
Lessee Disclosure [Abstract]
Lease, Cost [Table Text Block]	Lease expense for the three and nine months ended September 28, 2019 was as follows: Three Months Ended Nine Months Ended September 28, 2019 September 28, 2019 (Amounts are in thousands) Operating lease expense $ 107,262 324,735 Finance lease expense: Amortization of right-of-use assets 1,686 6,022 Interest on lease liabilities 752 2,189 Variable lease expense 15,189 44,077 Sublease rental income (660 ) (2,203 ) $ 124,229 374,820 Supplemental cash flow information related to leases for the nine months ended September 28, 2019 was as follows: Nine Months Ended September 28, 2019 (Amounts are in thousands) Operating cash flows from rent paid for operating lease liabilities $ 315,418 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 331,274 Finance leases 61,672 The weighted-average remaining lease term and weighted-average discount rate as of September 28, 2019 are as follows: September 28, 2019 Weighted-average remaining lease term: Operating leases 12 years Finance leases 18 years Weighted-average discount rate: Operating leases 3.5 % Finance leases 3.9 %
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of operating lease liabilities as of September 28, 2019 are as follows: Year Operating Leases (Amounts are in thousands) 2019 $ 106,457 2020 423,548 2021 394,701 2022 358,936 2023 316,511 Thereafter 1,997,096 3,597,249 Less: Imputed interest (702,441 ) $ 2,894,808
Finance Lease, Liability, Maturity [Table Text Block]	Maturities of finance lease liabilities as of September 28, 2019 are as follows: Year Finance Leases 2019 2,130 2020 32,749 2021 7,781 2022 7,781 2023 22,497 Thereafter 94,752 167,690 Less: Imputed interest (36,033 ) 131,657

Lessor, Lease Lessor, Lease (Ta

Lessor, Lease Lessor, Lease (Tables)	9 Months Ended
	Sep. 28, 2019
Lessor Disclosure [Abstract]
Operating Lease, Lease Income [Table Text Block]	Total lease income for the three and nine months ended September 28, 2019 was as follows: Three Months Ended Nine Months Ended September 28, 2019 September 28, 2019 (Amounts are in thousands) Lease income $ 37,924 111,331 Variable lease income 11,155 32,355 $ 49,079 143,686
Lessor, Operating Lease, Payments to be Received, Maturity [Table Text Block]	Fixed lease payments to be received for all noncancelable operating leases as of September 28, 2019 are as follows: Year (Amounts are in thousands) 2019 $ 39,407 2020 139,491 2021 113,695 2022 87,697 2023 64,394 Thereafter 201,943 $ 646,627

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Earnings (Losses) (Tables)	9 Months Ended
	Sep. 28, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Earnings (Losses) [Table Text Block]	A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the three months ended September 28, 2019 and September 29, 2018 is as follows: Investments Postretirement Benefit Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2019 Balances at June 29, 2019 $ 68,948 (6,729 ) 62,219 Unrealized gain on debt securities 22,131 — 22,131 Net realized gain on debt securities reclassified to investment income (439 ) — (439 ) Net other comprehensive earnings 21,692 — 21,692 Balances at September 28, 2019 $ 90,640 (6,729 ) 83,911 2018 Balances at June 30, 2018 $ (56,387 ) (14,292 ) (70,679 ) Unrealized loss on debt securities (2,076 ) — (2,076 ) Net realized gain on debt securities reclassified to investment income (181 ) — (181 ) Adjustment to postretirement benefit obligation — 564 564 Net other comprehensive (losses) earnings (2,257 ) 564 (1,693 ) Balances at September 29, 2018 $ (58,644 ) (13,728 ) (72,372 ) A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the nine months ended September 28, 2019 and September 29, 2018 is as follows: Investments Postretirement Benefits Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2019 Balances at December 29, 2018 $ (49,033 ) (6,729 ) (55,762 ) Unrealized gain on debt securities 139,782 — 139,782 Net realized gain on debt securities reclassified to investment income (109 ) — (109 ) Net other comprehensive earnings 139,673 — 139,673 Balances at September 28, 2019 $ 90,640 (6,729 ) 83,911 2018 Balances at December 30, 2017 $ 168,057 (15,421 ) 152,636 Unrealized loss on debt securities (28,657 ) — (28,657 ) Net realized loss on debt securities reclassified to investment income 266 — 266 Adjustment to postretirement benefit obligation — 1,693 1,693 Net other comprehensive (losses) earnings (28,391 ) 1,693 (26,698 ) Cumulative effect of net unrealized gain on equity securities reclassified to retained earnings (198,310 ) — (198,310 ) Balances at September 29, 2018 $ (58,644 ) (13,728 ) (72,372 )

Fair Value Measurements for Inv

Fair Value Measurements for Investments (Details) - USD ($) $ in Thousands	Sep. 28, 2019	Dec. 29, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	$ 7,598,640	$ 6,577,430
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	1,844,244	2,372,931
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	5,754,396	4,204,499
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable Securities	$ 0	$ 0

Investments Available for Sale

Investments Available for Sale Securities Reconciliation (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 28, 2019	Dec. 29, 2018
Debt Securities, Available-for-sale [Line Items]
Cost	$ 5,307,784	$ 3,944,459
Debt Securities, Available-for-sale, Unrealized Gain	125,031	2,441
Debt Securities, Available-for-sale, Unrealized Loss	4,258	68,190
Debt Securities, Available-for-sale	5,428,557	3,878,710
Nontaxable Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Cost	893,665	1,256,673
Debt Securities, Available-for-sale, Unrealized Gain	1,930	184
Debt Securities, Available-for-sale, Unrealized Loss	889	12,759
Debt Securities, Available-for-sale	894,706	1,244,098
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Cost	4,244,287	2,527,468
Debt Securities, Available-for-sale, Unrealized Gain	113,021	1,737
Debt Securities, Available-for-sale, Unrealized Loss	3,369	55,085
Debt Securities, Available-for-sale	4,353,939	2,474,120
Debt Securities, Restricted [Member]
Debt Securities, Available-for-sale [Line Items]
Cost	169,832	160,318
Debt Securities, Available-for-sale, Unrealized Gain	10,080	520
Debt Securities, Available-for-sale, Unrealized Loss	0	346
Debt Securities, Available-for-sale	$ 179,912	$ 160,492

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available for Sale Securities by Expected Maturity (Detail) - USD ($) $ in Thousands	Sep. 28, 2019	Dec. 29, 2018
Cost
Due in one year or less	$ 453,132	$ 563,272
Due after one year through five years	3,556,932	2,831,916
Due after five years through ten years	1,292,049	542,488
Due after ten years	5,671	6,783
Total	5,307,784	3,944,459
Fair Value
Due in one year or less	453,132	560,992
Due after one year through five years	3,610,463	2,768,971
Due after five years through ten years	1,359,068	541,852
Due after ten years	5,894	6,895
Total	$ 5,428,557	$ 3,878,710

Temporarily Impaired Available

Temporarily Impaired Available for Sale Securities by Time Period Impaired (Detail) - USD ($) $ in Thousands	Sep. 28, 2019	Dec. 29, 2018
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	$ 803,061	$ 699,216
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1,798	6,262
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	689,985	2,646,991
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,460	61,928
Debt Securities, Available-for-sale, Unrealized Loss Position	1,493,046	3,346,207
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	4,258	68,190
Nontaxable Municipal Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	383,034	25,150
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	501	95
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	171,681	1,182,783
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	388	12,664
Debt Securities, Available-for-sale, Unrealized Loss Position	554,715	1,207,933
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	889	12,759
Corporate Debt Securities [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	420,027	645,379
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	1,297	5,821
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	518,304	1,464,208
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2,072	49,264
Debt Securities, Available-for-sale, Unrealized Loss Position	938,331	2,109,587
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	3,369	55,085
Debt Securities, Restricted [Member]
Debt Securities, Available-for-sale [Line Items]
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months	0	28,687
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	346
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	0	0
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Debt Securities, Available-for-sale, Unrealized Loss Position	0	28,687
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss	$ 0	$ 346

Investments - Additional Inform

Investments - Additional Information (Detail) $ in Thousands	Sep. 28, 2019USD ($)AFS_security	Dec. 29, 2018USD ($)
Debt Securities, Available-for-sale, Unrealized Gain (Loss) [Abstract]
Number of debt securities issues contributing to total unrealized loss | AFS_security	169
Total, unrealized Losses | $	$ 4,258	$ 68,190

Investments Equity Securities (

Investments Equity Securities (Details) - USD ($)	Sep. 28, 2019	Dec. 29, 2018
Equity Securities [Line Items]
Equity Securities, FV-NI	$ 2,170,083,000	$ 2,698,720,000

Investments Recently Issued Acc

Investments Recently Issued Accounting Standard (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2018	Sep. 29, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 0
Accounting Standards Update 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification		$ 198,310

Investments Investment Income (

Investments Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018	Sep. 28, 2019	Sep. 29, 2018
Investment Income, Net [Abstract]
Interest and Dividend Income	$ 46,796	$ 32,726	$ 135,526	$ 92,879
Net realized gain on sale of investments	33,798	69,251	104,242	92,918
Investment Income Before Fair Value Adjustment	80,594	101,977	239,768	185,797
Fair value adjustment, due to net unrealized (loss) gain, on equity securities held at end of period	(26,936)	166,267	292,381	217,314
Net loss (gain) on sale of equity securities previously recognized through fair value adjustment	16,391	(38,010)	50,229	(60,424)
Investment Income	$ 70,049	$ 230,234	$ 582,378	$ 342,687

Lessee, Lease Finance Lease Rig

Lessee, Lease Finance Lease Right of Use Assets and Lease Liabilities (Details)	Sep. 28, 2019USD ($)
Finance Lease Right of Use Assets and Lease Liabilities [Abstract]
Finance Lease, Right-of-Use Asset	$ 149,309,000
Finance Lease, Liability, Current	29,410,000
Finance Lease, Liability, Noncurrent	$ 102,247,000

Lessee, Lease Lessee, Lease - A

Lessee, Lease Lessee, Lease - Additional Information (Details)	9 Months Ended
	Sep. 28, 2019
Lessee, Lease, Description [Line Items]
Lessee, Lease, Existence of Option to Extend [true false]	true
Lessee, Lease, Assumptions and Judgments, Discount Rate, Description	The present value of future payments for each lease is determined by using the Company’s incremental borrowing rate at the time of lease commencement.
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, Lease, Term of Contract	20 years
Lessee Lease, Renewal Term	5 years

Lessee, Lease Lease Cost (Detai

Lessee, Lease Lease Cost (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 28, 2019USD ($)	Sep. 28, 2019USD ($)
Lease, Cost [Abstract]
Operating lease expense	$ 107,262	$ 324,735
Amortization of right-of-use assets	1,686	6,022
Interest on lease liabilities	752	2,189
Variable lease expense	15,189	44,077
Sublease rental income	(660)	(2,203)
Lease, Cost	$ 124,229	374,820
Rent paid for operating leases		315,418
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		331,274
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability		$ 61,672
Operating Lease, Weighted Average Remaining Lease Term	12 years	12 years
Finance Lease, Weighted Average Remaining Lease Term	18 years	18 years
Operating Lease, Weighted Average Discount Rate, Percent	3.50%	3.50%
Finance Lease, Weighted Average Discount Rate, Percent	3.90%	3.90%

Lessee, Lease Maturities of Ope

Lessee, Lease Maturities of Operting Lease Liabilities (Details) $ in Thousands	Sep. 28, 2019USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2019	$ 106,457
2020	423,548
2021	394,701
2022	358,936
2023	316,511
Thereafter	1,997,096
Total Payments Due	3,597,249
Less: Imputed Interest	(702,441)
Operating Lease, Liability	$ 2,894,808

Lessee, Lease Maturities of Fin

Lessee, Lease Maturities of Finance Lease Liabilities (Details) $ in Thousands	Sep. 28, 2019USD ($)
Finance Lease, Liability, Payment, Due [Abstract]
2019	$ 2,130
2020	32,749
2021	7,781
2022	7,781
2023	22,497
Thereafter	94,752
Total Payments Due	167,690
Less: Imputed Interest	(36,033)
Finance Lease, Liability	$ 131,657

Lessee, Lease Lessee, Lease, No

Lessee, Lease Lessee, Lease, Not Yet Commenced (Details)	9 Months Ended
	Sep. 28, 2019USD ($)
Lessee, Lease, Description [Line Items]
Lessee Lease, Lease Not Yet Commenced	$ 309,611,000
Lessee, Lease Not Yet Commenced Description	As of September 28, 2019 the Company has lease agreements that have not yet commenced.
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee Lease Not Yet Commenced Term of Contract	20 years

Lessor, Lease Lessor, Lease Inc

Lessor, Lease Lessor, Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 28, 2019	Sep. 28, 2019
Operating Lease, Lease Income [Abstract]
Operating Lease, Lease Income, Lease Payments	$ 37,924	$ 111,331
Operating Lease, Variable Lease Income	11,155	32,355
Operating Lease, Lease Income	$ 49,079	$ 143,686

Lessor, Lease Lessor, Fixed Lea

Lessor, Lease Lessor, Fixed Lease Payments to be Received (Details) $ in Thousands	Sep. 28, 2019USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
2019	$ 39,407
2020	139,491
2021	113,695
2022	87,697
2013	64,394
Thereafter	201,943
Total	$ 646,627

Consolidation of Joint Ventur_2

Consolidation of Joint Ventures and Long-Term Debt Joint Venture - Additional Information (Details) - USD ($)	Sep. 28, 2019	Dec. 29, 2018
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Variable Interest Entity, Consolidated, Carrying Amount, Assets	$ 154,123,000	$ 144,197,000
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities	$ 77,897,000	$ 71,342,000

Consolidation of Joint Ventur_3

Consolidation of Joint Ventures and Long-Term Debt Long-Term Debt Assumptions, Maturities and Interest Rates (Details) - USD ($)	9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018
Debt Instrument [Line Items]
Loans Assumed	$ 0	$ 9,936,000
JV Loans [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Month And Year	June 2020
Debt Instrument, Basis Spread on Variable Rate	1.75%
JV Loans [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Month And Year	April 2027
Debt Instrument, Basis Spread on Variable Rate	2.50%
Shopping Center Loans [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Month And Year	December 2020
Debt Instrument, Interest Rate, Stated Percentage	3.70%
Shopping Center Loans [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Month And Year	January 2027
Debt Instrument, Interest Rate, Stated Percentage	7.50%

Retirement Plan - Additional In

Retirement Plan - Additional Information (Detail) - USD ($)	Sep. 28, 2019	Dec. 29, 2018
Retirement Benefits [Abstract]
Distributed shares subject to put option, fair value	$ 283,179,000	$ 288,580,000
ESOP, shares cost	3,001,522,000	2,846,419,000
Common stock related to ESOP	3,284,701,000	3,134,999,000
ESOP shares, fair value	$ 8,121,725,000	$ 8,061,399,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Earnings (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2019	Sep. 29, 2018	Sep. 28, 2019	Sep. 29, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at Beginning of Period	$ 62,219	$ (70,679)	$ (55,762)	$ 152,636
Unrealized gain (loss) on debt securities in 2019 and 2018, respectively.	22,131	(2,076)	139,782	(28,657)
Net realized (gain) loss on debt securities reclassified to investment income in 2019 and 2018, respectively.	(439)	(181)	(109)	266
Adjustment to postretirement benefit obligation	0	564	0	1,693
Net other comprehensive earnings (losses)	21,692	(1,693)	139,673	(26,698)
Cumulative effect of net unrealized gain on equity securities reclassified to retained earnings	0	0	0	(198,310)
Balances at End of Period	83,911	(72,372)	83,911	(72,372)
AFS Securities [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at Beginning of Period	68,948	(56,387)	(49,033)	168,057
Unrealized gain (loss) on debt securities in 2019 and 2018, respectively.	22,131	(2,076)	139,782	(28,657)
Net realized (gain) loss on debt securities reclassified to investment income in 2019 and 2018, respectively.	(439)	(181)	(109)	266
Net other comprehensive earnings (losses)	21,692	(2,257)	139,673	(28,391)
Cumulative effect of net unrealized gain on equity securities reclassified to retained earnings	0	0	0	(198,310)
Balances at End of Period	90,640	(58,644)	90,640	(58,644)
Postretirement Benefits [Member}
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at Beginning of Period	(6,729)	(14,292)	(6,729)	(15,421)
Adjustment to postretirement benefit obligation	0	564	0	1,693
Net other comprehensive earnings (losses)	0	564	0	1,693
Balances at End of Period	$ (6,729)	$ (13,728)	$ (6,729)	$ (13,728)

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] - USD ($)	Nov. 01, 2019	Oct. 15, 2019	Oct. 01, 2019
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared			$ 0.30
Dividends Payable, Date Declared			Oct. 1, 2019
Dividends Payable, Date to be Paid	Nov. 1, 2019
Dividends Payable, Date of Record		Oct. 15, 2019
Dividends, Common Stock, Cash			$ 213,200,000