Publix Super Markets (PUSH) 10-Q 1 Nov 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 24, 2022	Oct. 14, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Amendment Flag	false
Document Period End Date	Sep. 24, 2022
Document Transition Report	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity File Number	000-00981
Entity Registrant Name	PUBLIX SUPER MARKETS, INC.
Entity Central Index Key	0000081061
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	59-0324412
Entity Address, Address Line One	3300 Publix Corporate Parkway
Entity Address, City or Town	Lakeland
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33811
City Area Code	(863)
Local Phone Number	688-1188
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	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		3,354,213,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Current assets:
Cash and cash equivalents	$ 1,599,459	$ 1,131,901
Short-term investments	533,339	883,066
Trade receivables	966,408	903,570
Inventories	2,179,799	2,054,394
Prepaid expenses	70,552	131,655
Total current assets	5,349,557	5,104,586
Long-term investments	10,673,266	12,768,411
Other noncurrent assets	539,373	445,120
Operating lease right-of-use assets	2,915,642	2,950,460
Property, plant and equipment	18,396,648	17,305,064
Accumulated depreciation	(7,526,929)	(7,049,294)
Net property, plant and equipment	10,869,719	10,255,770
Total assets	30,347,557	31,524,347
Current liabilities:
Accounts payable	2,668,854	2,594,976
Accrued expenses:
Contributions to retirement plans	569,492	661,046
Self-insurance reserves	207,500	191,477
Salaries and wages	421,931	215,617
Other	800,097	764,365
Current portion of long-term debt	61,690	39,168
Current portion of operating lease liabilities	357,457	355,066
Income taxes	55,872	0
Total current liabilities	5,142,893	4,821,715
Deferred income taxes	524,681	1,030,677
Self-insurance reserves	258,244	248,913
Long-term debt	61,680	98,185
Operating lease liabilities	2,528,313	2,570,421
Finance lease liabilities	424,591	411,620
Other noncurrent liabilities	164,826	304,951
Total liabilities	9,105,228	9,486,482
Common stock related to Employee Stock Ownership Plan (ESOP)	4,135,533	3,825,128
Stockholders’ equity:
Common stock of $1 par value. Authorized 4,000,000 shares; issued 3,437,891 shares in 2022 and 3,418,395 shares in 2021	3,437,891	3,418,395
Additional paid-in capital	1,680,184	1,425,967
Retained earnings	17,932,479	17,156,208
Treasury stock at cost, 82,149 shares in 2022	(1,177,763)	0
Accumulated other comprehensive losses	(672,208)	(5,421)
Common stock related to ESOP	(4,135,533)	(3,825,128)
Total stockholders’ equity	17,065,050	18,170,021
Noncontrolling interests	41,746	42,716
Total equity	21,242,329	22,037,865
Total liabilities and stockholders' equity	$ 30,347,557	$ 31,524,347

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 24, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	4,000,000,000	4,000,000,000
Common stock, shares issued	3,437,891,000	3,418,395,000
Treasury stock at cost, shares	82,149,000	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Revenues:
Sales	$ 13,010,824	$ 11,919,567	$ 39,188,650	$ 35,416,585
Other operating income	96,387	87,595	289,250	277,873
Total revenues	13,107,211	12,007,162	39,477,900	35,694,458
Costs and expenses:
Cost of merchandise sold	9,637,331	8,711,636	28,681,480	25,610,936
Operating and administrative expenses	2,534,689	2,386,006	7,506,587	7,013,040
Total costs and expenses	12,172,020	11,097,642	36,188,067	32,623,976
Operating profit	935,191	909,520	3,289,833	3,070,482
Investment (loss)	(497,394)		(1,323,618)
Investment income		130,328		1,153,309
Other nonoperating income, net	19,982	21,968	68,805	53,227
Earnings before income tax expense	457,779	1,061,816	2,035,020	4,277,018
Income tax expense	63,727	204,910	394,537	915,615
Net earnings	$ 394,052	$ 856,906	$ 1,640,483	$ 3,361,403
Weighted average shares outstanding	3,366,117	3,444,361	3,394,424	3,453,598
Earnings per share	$ 0.12	$ 0.25	$ 0.48	$ 0.97

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 24, 2022	Jun. 25, 2022	Mar. 26, 2022	Sep. 25, 2021	Jun. 26, 2021	Mar. 27, 2021	Sep. 24, 2022	Sep. 25, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 394,052			$ 856,906			$ 1,640,483	$ 3,361,403
Other Comprehensive Earnings [Abstract]
Unrealized loss on debt securities net of income taxes in 2022 and 2021, respectively.	(119,057)			(12,611)			(668,784)	(103,182)
Reclassification adjustment for net realized loss (gain) on debt securities net of income taxes in 2022 and 2021, respectively.	1,889			(6,258)			981	(15,174)
Adjustment to postretirement benefit obligation net of income taxes in 2022 and 2021, respectively.	339			1,378			1,016	4,137
Comprehensive earnings	$ 277,223	$ 453,578	$ 242,895	$ 839,415	$ 1,020,428	$ 1,387,341	$ 973,696	$ 3,247,184

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Statement of Comprehensive Income [Abstract]
Unrealized loss on debt securities income taxes in 2022 and 2021, respectively.	$ (40,566)	$ (4,292)	$ (227,883)	$ (35,156)
Reclassification adjustment for net realized loss (gain) on debt securities income taxes in 2022 and 2021, respectively.	645	(2,133)	335	(5,149)
Adjustment to postretirement benefit obligation income taxes in 2022 and 2021, respectively	$ 116	$ 470	$ 346	$ 1,410

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021
Cash flows from operating activities:
Cash received from customers	$ 39,279,962	$ 35,626,167
Cash paid to employees and suppliers	(34,823,928)	(30,926,435)
Income taxes paid	(496,229)	(668,248)
Self-insured claims paid	(366,388)	(364,315)
Dividends and interest received	233,326	201,996
Other operating cash receipts	287,036	275,448
Other operating cash payments	(26,632)	(17,892)
Net cash provided by operating activities	4,087,147	4,126,721
Cash flows from investing activities:
Payment for capital expenditures	(1,286,327)	(983,331)
Proceeds from sale of property, plant and equipment	20,405	10,309
Payment for investments	(1,293,810)	(2,503,504)
Proceeds from sale and maturity of investments	1,164,125	1,237,953
Net cash used in investing activities	(1,395,607)	(2,238,573)
Cash flows from financing activities:
Payment for acquisition of common stock	(1,645,591)	(832,446)
Proceeds from sale of common stock	314,414	197,768
Dividends paid	(864,212)	(732,886)
Repayment of long-term debt	(28,268)	(22,548)
Other, net	(325)	13
Net cash used in financing activities	(2,223,982)	(1,390,099)
Net increase in cash and cash equivalents	467,558	498,049
Cash and cash equivalents at beginning of period	1,131,901	673,483
Cash and cash equivalents at end of period	1,599,459	1,171,532
Reconciliation of net earnings to net cash provided by operating activities:
Net earnings	1,640,483	3,361,403
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	619,081	588,336
Increase in last-in, first-out (LIFO) reserve	131,723	70,138
Retirement contributions paid or payable in common stock	341,959	321,775
Deferred income taxes	(278,794)	278,374
Loss on disposal and impairment of long-lived assets	4,900	57,167
Loss (gain) on investments	1,496,591	(1,009,691)
Net amortization of investments	61,229	58,055
Changes in operating assets and liabilities providing (requiring) cash:
Trade receivables	(62,838)	119,626
Inventories	(257,128)	25,272
Other assets	45,181	(2,828)
Accounts payable and accrued expenses	218,150	282,482
Income taxes	122,401	(42,690)
Other liabilities	4,209	19,302
Total adjustments	2,446,664	765,318
Net cash provided by operating activities	$ 4,087,147	$ 4,126,721

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. 26, 2020	$ 15,757,218	$ 3,454,907	$ 1,159,428	$ 14,426,481	$ 0	$ 200,951	$ (3,484,549)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	1,387,341			1,495,093		(107,752)
Dividends per share	(220,975)			(220,975)
Contribution of shares to retirement plans	408,569	23,719	266,462		118,388
Acquisition of shares from stockholders	(340,092)				(340,092)
Sale of shares to stockholders	90,882	0	5		90,877
Change for ESOP related shares	(560,684)						(560,684)
Ending Balance at Mar. 27, 2021	16,522,259	3,478,626	1,425,895	15,700,599	(130,827)	93,199	(4,045,233)
Beginning Balance at Dec. 26, 2020	15,757,218	3,454,907	1,159,428	14,426,481	0	200,951	(3,484,549)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	3,247,184
Ending Balance at Sep. 25, 2021	17,706,884	3,478,626	1,425,967	17,054,998	(516,367)	86,732	(3,823,072)
Beginning Balance at Mar. 27, 2021	16,522,259	3,478,626	1,425,895	15,700,599	(130,827)	93,199	(4,045,233)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	1,020,428			1,009,404		11,024
Dividends per share	(256,562)			(256,562)
Acquisition of shares from stockholders	(248,145)				(248,145)
Sale of shares to stockholders	44,022	0	72		43,950
Change for ESOP related shares	184,578						184,578
Ending Balance at Jun. 26, 2021	17,266,580	3,478,626	1,425,967	16,453,441	(335,022)	104,223	(3,860,655)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	839,415			856,906		(17,491)
Dividends per share	(255,349)			(255,349)
Acquisition of shares from stockholders	(244,209)				(244,209)
Sale of shares to stockholders	62,864	0	0		62,864
Change for ESOP related shares	37,583						37,583
Ending Balance at Sep. 25, 2021	17,706,884	3,478,626	1,425,967	17,054,998	(516,367)	86,732	(3,823,072)
Beginning Balance at Dec. 25, 2021	18,170,021	3,418,395	1,425,967	17,156,208	0	(5,421)	(3,825,128)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	242,895			618,026		(375,131)
Dividends per share	(252,821)			(252,821)
Contribution of shares to retirement plans	427,127	19,485	254,176		153,466
Acquisition of shares from stockholders	(537,681)				(537,681)
Sale of shares to stockholders	100,843	0	(34)		100,877
Change for ESOP related shares	(601,311)						(601,311)
Ending Balance at Mar. 26, 2022	17,549,073	3,437,880	1,680,109	17,521,413	(283,338)	(380,552)	(4,426,439)
Beginning Balance at Dec. 25, 2021	18,170,021	3,418,395	1,425,967	17,156,208	0	(5,421)	(3,825,128)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	973,696
Ending Balance at Sep. 24, 2022	17,065,050	3,437,891	1,680,184	17,932,479	(1,177,763)	(672,208)	(4,135,533)
Beginning Balance at Mar. 26, 2022	17,549,073	3,437,880	1,680,109	17,521,413	(283,338)	(380,552)	(4,426,439)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	453,578			628,405		(174,827)
Dividends per share	(307,456)			(307,456)
Acquisition of shares from stockholders	(733,336)				(733,336)
Sale of shares to stockholders	106,784	11	75		106,698
Change for ESOP related shares	174,564						174,564
Ending Balance at Jun. 25, 2022	17,243,207	3,437,891	1,680,184	17,842,362	(909,976)	(555,379)	(4,251,875)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive earnings	277,223			394,052		(116,829)
Dividends per share	(303,935)			(303,935)
Acquisition of shares from stockholders	(374,574)				(374,574)
Sale of shares to stockholders	106,787	0	0		106,787
Change for ESOP related shares	116,342						116,342
Ending Balance at Sep. 24, 2022	$ 17,065,050	$ 3,437,891	$ 1,680,184	$ 17,932,479	$ (1,177,763)	$ (672,208)	$ (4,135,533)

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) (Parentheticals) - $ / shares shares in Thousands	3 Months Ended
	Sep. 24, 2022	Jun. 25, 2022	Mar. 26, 2022	Sep. 25, 2021	Jun. 26, 2021	Mar. 27, 2021
Statements of Stockholders' Equity (Parenthetical) [Abstract]
Dividends per share	$ 0.09	$ 0.09	$ 0.074	$ 0.074	$ 0.074	$ 0.064
Contribution of shares to retirement plans	0	0	31,041	0	0	33,934
Acquisition of shares from stockholders	26,856	49,414	39,506	19,461	20,298	28,656
Sale of shares to stockholders	7,485	7,238	7,359	4,995	3,607	7,575

Basis of Presentation (Notes)

Basis of Presentation (Notes)	9 Months Ended
	Sep. 24, 2022
Accounting Policies [Abstract]
Basis of Presentation [Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Publix Super Markets, Inc. and subsidiaries (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 24, 2022 are not necessarily indicative of the results for the entire 2022 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 25, 2021 (Annual Report). 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. On April 1, 2022, the Company filed Articles of Amendment to its Restated Articles of Incorporation in order to effect a 5-for-1 stock split of the Company’s common stock, par value $1.00 per share (Common Stock), and an increase in the number of authorized shares of Common Stock from 1,000,000,000 to 4,000,000,000, effective as of the close of business April 14, 2022. The Articles of Amendment were approved by the Company’s Board of Directors on April 1, 2022. All applicable data, including share and per share amounts, in the condensed consolidated financial statements and accompanying notes have been retroactively adjusted to give effect to the stock split.

Fair Value of Financial Instrum

Fair Value of Financial Instruments (Notes)	9 Months Ended
	Sep. 24, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments [Text Block]	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). 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 similar securities and matrix pricing of corporate, government-sponsored agency, 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 (taxable and tax exempt 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 24, 2022 and December 25, 2021: Fair Value Level 1 Level 2 Level 3 (Amounts are in thousands) September 24, 2022 $ 11,206,605 2,051,091 9,155,514 — December 25, 2021 13,651,477 2,159,365 11,492,112 —

Investments (Notes)

Investments (Notes)	9 Months Ended
	Sep. 24, 2022
Investments, Debt and Equity Securities [Abstract]
Investments [Text Block]	Investments (a) Debt Securities Following is a summary of debt securities as of September 24, 2022 and December 25, 2021: Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Amounts are in thousands) September 24, 2022 Taxable bonds $ 9,345,448 167 881,631 8,463,984 Tax exempt bonds 97,135 5 669 96,471 Restricted investments 170,200 — 3,811 166,389 $ 9,612,783 172 886,111 8,726,844 December 25, 2021 Taxable bonds $ 9,644,692 108,697 108,906 9,644,483 Tax exempt bonds 268,899 2,351 — 271,250 Restricted investments 170,769 7,629 359 178,039 $ 10,084,360 118,677 109,265 10,093,772 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 24, 2022 and December 25, 2021 are as follows: September 24, 2022 December 25, 2021 Cost Fair Value Cost Fair Value (Amounts are in thousands) Due in one year or less $ 536,267 533,339 875,740 883,066 Due after one year through five years 7,477,381 6,827,732 6,353,221 6,403,573 Due after five years through ten years 1,596,773 1,363,457 2,852,531 2,804,131 Due after ten years 2,362 2,316 2,868 3,002 $ 9,612,783 8,726,844 10,084,360 10,093,772 The Company had no debt securities with credit losses as of September 24, 2022 and December 25, 2021. Following is a summary of debt securities with other unrealized losses by the time period impaired as of September 24, 2022 and December 25, 2021: 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 24, 2022 Taxable bonds $ 5,240,412 422,826 3,094,972 458,805 8,335,384 881,631 Tax exempt bonds 92,896 669 — — 92,896 669 Restricted investments 166,389 3,811 — — 166,389 3,811 $ 5,499,697 427,306 3,094,972 458,805 8,594,669 886,111 December 25, 2021 Taxable bonds $ 4,225,323 72,862 1,131,942 36,044 5,357,265 108,906 Restricted investments 17,115 359 — — 17,115 359 $ 4,242,438 73,221 1,131,942 36,044 5,374,380 109,265 There are 456 debt securities contributing to the total unrealized losses of $886,111,000 as of September 24, 2022. 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 Equity securities are 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 $2,479,761,000 and $3,557,705,000 as of September 24, 2022 and December 25, 2021, respectively. (c) Investment Income (Loss) Net realized gain or loss on investments represents the difference between the cost and the proceeds from the sale of debt and equity securities. The net realized gain or loss on investments excludes the net gain or loss on the sale of equity securities previously recognized through the fair value adjustment, which is presented separately in the following table. Following is a summary of investment income (loss) for the three and nine months ended September 24, 2022 and September 25, 2021: Three Months Ended Nine Months Ended September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 (Amounts are in thousands) Interest and dividend income $ 61,455 48,992 172,973 143,618 Net realized (loss) gain on investments (2,534) 8,391 (1,316) 32,376 58,921 57,383 171,657 175,994 Fair value adjustment, due to net unrealized (loss) gain, on equity securities held at end of period (556,315) 72,945 (1,495,275) 986,756 Net gain on sale of equity securities previously recognized through fair value adjustment — — — (9,441) $ (497,394) 130,328 (1,323,618) 1,153,309

Consolidation of Joint Ventures

Consolidation of Joint Ventures and Long-Term Debt (Notes)	9 Months Ended
	Sep. 24, 2022
Consolidation Of Joint Ventures And Long Term Debt [Abstract]
Consolidation Of Joint Ventures And Long-Term Debt [Text Block]	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 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 24, 2022, the carrying amounts of the assets and liabilities of the consolidated JVs were $181,818,000 and $74,669,000, respectively. As of December 25, 2021, the carrying amounts of the assets and liabilities of the consolidated JVs were $194,493,000 and $76,027,000, 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 2022 and 2021 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 24, 2022 or September 25, 2021. Maturities of JV loans range from January 2023 through April 2027 and have variable interest rates based on a London Interbank Offered Rate (LIBOR) index or Secured Overnight Financing Rate (SOFR) index plus 200 to 250 basis points. Maturities of assumed shopping center loans range from November 2022 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. 24, 2022
Retirement Benefits [Abstract]
Retirement Plan [Text Block]	Retirement PlanThe 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 $705,491,000 and $608,089,000 as of September 24, 2022 and December 25, 2021, respectively. The cost of the shares held by the ESOP totaled $3,430,042,000 and $3,217,039,000 as of September 24, 2022 and December 25, 2021, 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 $4,135,533,000 and $3,825,128,000 as of September 24, 2022 and December 25, 2021, respectively. The fair value of the shares held by the ESOP totaled $10,845,578,000 and $10,855,152,000 as of September 24, 2022 and December 25, 2021, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Earnings (Losses) (Notes)	9 Months Ended
	Sep. 24, 2022
Equity [Abstract]
Accumulated Other Comprehensive Earnings (Losses) [Text Block]	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 24, 2022 and September 25, 2021 is as follows: Investments Postretirement Benefit Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2022 Balances at June 25, 2022 $ (543,581) (11,798) (555,379) Unrealized loss on debt securities (119,057) — (119,057) Net realized loss on debt securities reclassified to investment income 1,889 — 1,889 Adjustment to postretirement benefit obligation — 339 339 Net other comprehensive (losses) earnings (117,168) 339 (116,829) Balances at September 24, 2022 $ (660,749) (11,459) (672,208) 2021 Balances at June 26, 2021 $ 124,417 (20,194) 104,223 Unrealized loss on debt securities (12,611) — (12,611) Net realized gain on debt securities reclassified to investment income (6,258) — (6,258) Adjustment to postretirement benefit obligation — 1,378 1,378 Net other comprehensive (losses) earnings (18,869) 1,378 (17,491) Balances at September 25, 2021 $ 105,548 (18,816) 86,732 A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the nine months ended September 24, 2022 and September 25, 2021 is as follows: Investments Postretirement Benefits Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2022 Balances at December 25, 2021 $ 7,054 (12,475) (5,421) Unrealized loss on debt securities (668,784) — (668,784) Net realized loss on debt securities reclassified to investment income 981 — 981 Adjustment to postretirement benefit obligation — 1,016 1,016 Net other comprehensive (losses) earnings (667,803) 1,016 (666,787) Balances at September 24, 2022 $ (660,749) (11,459) (672,208) 2021 Balances at December 26, 2020 $ 223,904 (22,953) 200,951 Unrealized loss on debt securities (103,182) — (103,182) Net realized gain on debt securities reclassified to investment income (15,174) — (15,174) Adjustment to postretirement benefit obligation — 4,137 4,137 Net other comprehensive (losses) earnings (118,356) 4,137 (114,219) Balances at September 25, 2021 $ 105,548 (18,816) 86,732

Subsequent Event (Notes)

Subsequent Event (Notes)	9 Months Ended
	Sep. 24, 2022
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Subsequent Event On October 3, 2022, the Company declared a quarterly dividend on its common stock of $0.09 per share or $301,900,000, payable November 1, 2022 to stockholders of record as of the close of business October 14, 2022. The Company was impacted by Hurricane Ian which made landfall in southwest Florida on September 28, 2022. As a result, temporary supermarket closings occurred due to weather conditions and evacuations of certain areas. The impact of the hurricane is not expected to have a material adverse effect on the Company’s financial condition or results of operations.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 24, 2022
Accounting Policies [Abstract]
Basis of Presentation [Policy Text Block]	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Publix Super Markets, Inc. and subsidiaries (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 24, 2022 are not necessarily indicative of the results for the entire 2022 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 25, 2021 (Annual Report). 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. 24, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments [Table Text Block]	Following is a summary of fair value measurements for investments as of September 24, 2022 and December 25, 2021: Fair Value Level 1 Level 2 Level 3 (Amounts are in thousands) September 24, 2022 $ 11,206,605 2,051,091 9,155,514 — December 25, 2021 13,651,477 2,159,365 11,492,112 —

Investments (Tables)

Investments (Tables)	9 Months Ended
	Sep. 24, 2022
Investments, Debt and Equity Securities [Abstract]
Available For Sale Debt Securities [Table Text Block]	Following is a summary of debt securities as of September 24, 2022 and December 25, 2021: Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Amounts are in thousands) September 24, 2022 Taxable bonds $ 9,345,448 167 881,631 8,463,984 Tax exempt bonds 97,135 5 669 96,471 Restricted investments 170,200 — 3,811 166,389 $ 9,612,783 172 886,111 8,726,844 December 25, 2021 Taxable bonds $ 9,644,692 108,697 108,906 9,644,483 Tax exempt bonds 268,899 2,351 — 271,250 Restricted investments 170,769 7,629 359 178,039 $ 10,084,360 118,677 109,265 10,093,772
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 24, 2022 and December 25, 2021 are as follows: September 24, 2022 December 25, 2021 Cost Fair Value Cost Fair Value (Amounts are in thousands) Due in one year or less $ 536,267 533,339 875,740 883,066 Due after one year through five years 7,477,381 6,827,732 6,353,221 6,403,573 Due after five years through ten years 1,596,773 1,363,457 2,852,531 2,804,131 Due after ten years 2,362 2,316 2,868 3,002 $ 9,612,783 8,726,844 10,084,360 10,093,772
Available For Sale Debt Securities in an Unrealized Loss Position by Time Period Impaired [Table Text Block]	Following is a summary of debt securities with other unrealized losses by the time period impaired as of September 24, 2022 and December 25, 2021: 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 24, 2022 Taxable bonds $ 5,240,412 422,826 3,094,972 458,805 8,335,384 881,631 Tax exempt bonds 92,896 669 — — 92,896 669 Restricted investments 166,389 3,811 — — 166,389 3,811 $ 5,499,697 427,306 3,094,972 458,805 8,594,669 886,111 December 25, 2021 Taxable bonds $ 4,225,323 72,862 1,131,942 36,044 5,357,265 108,906 Restricted investments 17,115 359 — — 17,115 359 $ 4,242,438 73,221 1,131,942 36,044 5,374,380 109,265
Investment Income (Loss) [Table Text Block]	Following is a summary of investment income (loss) for the three and nine months ended September 24, 2022 and September 25, 2021: Three Months Ended Nine Months Ended September 24, 2022 September 25, 2021 September 24, 2022 September 25, 2021 (Amounts are in thousands) Interest and dividend income $ 61,455 48,992 172,973 143,618 Net realized (loss) gain on investments (2,534) 8,391 (1,316) 32,376 58,921 57,383 171,657 175,994 Fair value adjustment, due to net unrealized (loss) gain, on equity securities held at end of period (556,315) 72,945 (1,495,275) 986,756 Net gain on sale of equity securities previously recognized through fair value adjustment — — — (9,441) $ (497,394) 130,328 (1,323,618) 1,153,309

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Earnings (Losses) (Tables)	9 Months Ended
	Sep. 24, 2022
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 24, 2022 and September 25, 2021 is as follows: Investments Postretirement Benefit Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2022 Balances at June 25, 2022 $ (543,581) (11,798) (555,379) Unrealized loss on debt securities (119,057) — (119,057) Net realized loss on debt securities reclassified to investment income 1,889 — 1,889 Adjustment to postretirement benefit obligation — 339 339 Net other comprehensive (losses) earnings (117,168) 339 (116,829) Balances at September 24, 2022 $ (660,749) (11,459) (672,208) 2021 Balances at June 26, 2021 $ 124,417 (20,194) 104,223 Unrealized loss on debt securities (12,611) — (12,611) Net realized gain on debt securities reclassified to investment income (6,258) — (6,258) Adjustment to postretirement benefit obligation — 1,378 1,378 Net other comprehensive (losses) earnings (18,869) 1,378 (17,491) Balances at September 25, 2021 $ 105,548 (18,816) 86,732 A reconciliation of the changes in accumulated other comprehensive earnings (losses) net of income taxes for the nine months ended September 24, 2022 and September 25, 2021 is as follows: Investments Postretirement Benefits Accumulated Other Comprehensive Earnings (Losses) (Amounts are in thousands) 2022 Balances at December 25, 2021 $ 7,054 (12,475) (5,421) Unrealized loss on debt securities (668,784) — (668,784) Net realized loss on debt securities reclassified to investment income 981 — 981 Adjustment to postretirement benefit obligation — 1,016 1,016 Net other comprehensive (losses) earnings (667,803) 1,016 (666,787) Balances at September 24, 2022 $ (660,749) (11,459) (672,208) 2021 Balances at December 26, 2020 $ 223,904 (22,953) 200,951 Unrealized loss on debt securities (103,182) — (103,182) Net realized gain on debt securities reclassified to investment income (15,174) — (15,174) Adjustment to postretirement benefit obligation — 4,137 4,137 Net other comprehensive (losses) earnings (118,356) 4,137 (114,219) Balances at September 25, 2021 $ 105,548 (18,816) 86,732

Basis of Presentation (Details)

Basis of Presentation (Details)	Apr. 01, 2022 shares	Sep. 24, 2022 $ / shares shares	Apr. 14, 2022 $ / shares shares	Dec. 25, 2021 $ / shares shares
Accounting Policies [Abstract]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
Common stock, par value | $ / shares		$ 1	$ 1	$ 1
Common stock, shares authorized | shares	1,000,000,000	4,000,000,000	4,000,000,000	4,000,000,000

Fair Value Measurements for Inv

Fair Value Measurements for Investments (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 11,206,605	$ 13,651,477
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	2,051,091	2,159,365
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	9,155,514	11,492,112
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 0	$ 0

Available for Sale Debt Securit

Available for Sale Debt Securities Reconciliation (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 24, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 9,612,783	$ 10,084,360
Unrealized Gains	172	118,677
Unrealized Losses	886,111	109,265
Fair Value	8,726,844	10,093,772
Taxable bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,345,448	9,644,692
Unrealized Gains	167	108,697
Unrealized Losses	881,631	108,906
Fair Value	8,463,984	9,644,483
Tax exempt bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	97,135	268,899
Unrealized Gains	5	2,351
Unrealized Losses	669	0
Fair Value	96,471	271,250
Restricted investments [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	170,200	170,769
Unrealized Gains	0	7,629
Unrealized Losses	3,811	359
Fair Value	$ 166,389	$ 178,039

Amortized Cost and Fair Value o

Amortized Cost and Fair Value of Available for Sale Securities by Expected Maturity (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Amortized Cost [Abstract]
Due in one year or less	$ 536,267	$ 875,740
Due after one year through five years	7,477,381	6,353,221
Due after five years through ten years	1,596,773	2,852,531
Due after ten years	2,362	2,868
Total amortized cost	9,612,783	10,084,360
Fair Value [Abstract]
Due in one year or less	533,339	883,066
Due after one year through five years	6,827,732	6,403,573
Due after five years through ten years	1,363,457	2,804,131
Due after ten years	2,316	3,002
Total fair value	$ 8,726,844	$ 10,093,772

Investments Allowance for Credi

Investments Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Credit Loss [Abstract]
Debt Securities, Available-for-sale, Allowance for Credit Losses	$ 0	$ 0

Temporarily Impaired Available

Temporarily Impaired Available for Sale Debt Securities by Time Period Impaired (Details) - USD ($) $ in Thousands	Sep. 24, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale [Line Items]
Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	$ 5,499,697	$ 4,242,438
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	427,306	73,221
Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	3,094,972	1,131,942
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	458,805	36,044
Unrealized Loss Position, Fair Value	8,594,669	5,374,380
Unrealized Loss Position, Accumulated Loss	886,111	109,265
Taxable bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	5,240,412	4,225,323
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	422,826	72,862
Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	3,094,972	1,131,942
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	458,805	36,044
Unrealized Loss Position, Fair Value	8,335,384	5,357,265
Unrealized Loss Position, Accumulated Loss	881,631	108,906
Tax exempt bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	92,896	0
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	669	0
Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	0	0
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Unrealized Loss Position, Fair Value	92,896	0
Unrealized Loss Position, Accumulated Loss	669	0
Restricted investments [Member]
Debt Securities, Available-for-sale [Line Items]
Continuous Unrealized Loss Position, Less than 12 Months, Fair Value	166,389	17,115
Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3,811	359
Continuous Unrealized Loss Position, 12 Months or Longer, Fair Value	0	0
Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	0	0
Unrealized Loss Position, Fair Value	166,389	17,115
Unrealized Loss Position, Accumulated Loss	$ 3,811	$ 359

Investments - Additional Inform

Investments - Additional Information (Details) $ in Thousands	Sep. 24, 2022 USD ($) AFS_security	Dec. 25, 2021 USD ($)
Debt Securities, Available-for-Sale, Unrealized Gain (Loss) [Abstract]
Number of debt securities issues contributing to total unrealized losses | AFS_security	456
Total, Unrealized Losses | $	$ 886,111	$ 109,265

Investments Equity Securities (

Investments Equity Securities (Details) - USD ($)	Sep. 24, 2022	Dec. 25, 2021
Equity Securities [Line Items]
Equity Securities	$ 2,479,761,000	$ 3,557,705,000

Investment Income (Details)

Investment Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
Investment Income, Net [Abstract]
Interest and dividend income	$ 61,455	$ 48,992	$ 172,973	$ 143,618
Net realized (loss) gain on investments	(2,534)	8,391	(1,316)	32,376
Investment income before fair value adjustment	58,921	57,383	171,657	175,994
Fair value adjustment, due to net unrealized (loss) gain, on equity securities held at end of period	(556,315)	72,945	(1,495,275)	986,756
Net gain on sale of equity securities previously recognized through fair value adjustment	0	0	0	(9,441)
Investment (loss)	$ (497,394)		$ (1,323,618)
Investment income		$ 130,328		$ 1,153,309

Consolidation of Joint Ventur_2

Consolidation of Joint Ventures and Long-Term Debt Joint Venture - Additional Information (Details) - USD ($)	Sep. 24, 2022	Dec. 25, 2021
Variable Interest Entity [Line Items]
Assets	$ 30,347,557,000	$ 31,524,347,000
Liabilities	9,105,228,000	9,486,482,000
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Assets	181,818,000	194,493,000
Liabilities	$ 74,669,000	$ 76,027,000

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. 24, 2022	Sep. 25, 2021
Debt Instrument [Line Items]
Loans Assumed	$ 0	$ 0
JV Loans [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Month And Year	January 2023
Debt Instrument, Basis Spread on Variable Rate	2%
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	November 2022
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 (Details) - USD ($)	Sep. 24, 2022	Dec. 25, 2021
Retirement Benefits [Abstract]
Distributed shares subject to put option, fair value	$ 705,491,000	$ 608,089,000
ESOP, shares cost	3,430,042,000	3,217,039,000
Common stock related to ESOP	4,135,533,000	3,825,128,000
ESOP shares, fair value	$ 10,845,578,000	$ 10,855,152,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Earnings (Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 24, 2022	Sep. 25, 2021	Sep. 24, 2022	Sep. 25, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at Beginning of Period	$ (555,379)	$ 104,223	$ (5,421)	$ 200,951
Unrealized loss on debt securities	(119,057)	(12,611)	(668,784)	(103,182)
Net realized loss (gain) on debt securities reclassified to investment income	1,889	(6,258)	981	(15,174)
Adjustment to postretirement benefit obligation	339	1,378	1,016	4,137
Net other comprehensive (losses) earnings	(116,829)	(17,491)	(666,787)	(114,219)
Balances at End of Period	(672,208)	86,732	(672,208)	86,732
Investments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at Beginning of Period	(543,581)	124,417	7,054	223,904
Unrealized loss on debt securities	(119,057)	(12,611)	(668,784)	(103,182)
Net realized loss (gain) on debt securities reclassified to investment income	1,889	(6,258)	981	(15,174)
Net other comprehensive (losses) earnings	(117,168)	(18,869)	(667,803)	(118,356)
Balances at End of Period	(660,749)	105,548	(660,749)	105,548
Postretirement Benefit Obligation [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balances at Beginning of Period	(11,798)	(20,194)	(12,475)	(22,953)
Adjustment to postretirement benefit obligation	339	1,378	1,016	4,137
Net other comprehensive (losses) earnings	339	1,378	1,016	4,137
Balances at End of Period	$ (11,459)	$ (18,816)	$ (11,459)	$ (18,816)

Subsequent Event (Details)

Subsequent Event (Details) - Subsequent Event [Member] - USD ($)	Nov. 01, 2022	Oct. 14, 2022	Oct. 03, 2022	Sep. 28, 2022
Subsequent Event [Line Items]
Dividends Payable, Date Declared			Oct. 03, 2022
Common Stock, Dividends, Per Share, Declared			$ 0.09
Dividends, Common Stock, Cash			$ 301,900,000
Dividends Payable, Date to be Paid	Nov. 01, 2022
Dividends Payable, Date of Record		Oct. 14, 2022
Subsequent Event, Description				The Company was impacted by Hurricane Ian which made landfall in southwest Florida on September 28, 2022. As a result, temporary supermarket closings occurred due to weather conditions and evacuations of certain areas. The impact of the hurricane is not expected to have a material adverse effect on the Company’s financial condition or results of operations.
Subsequent Event, Date				Sep. 28, 2022