| Statement Of Financial Position Classified (USD $) | ||
| In Thousands | Sep. 26, 2009
| Dec. 27, 2008
|
| Current assets: | ||
| Cash and cash equivalents | $442,899 | $201,813 |
| Short-term investments | 62,168 | 26,495 |
| Trade receivables | 406,501 | 366,418 |
| Merchandise inventories | 1,278,601 | 1,387,575 |
| Deferred tax assets | 55,078 | 44,628 |
| Prepaid expenses | 28,223 | 23,727 |
| Total current assets | 2,273,470 | 2,050,656 |
| Long-term investments | 2,022,573 | 1,810,048 |
| Other noncurrent assets | 148,502 | 154,639 |
| Property, plant and equipment | 7,853,714 | 7,427,405 |
| Accumulated depreciation | (3,607,570) | (3,353,076) |
| Net property, plant and equipment | 4,246,144 | 4,074,329 |
| Assets, Total | 8,690,689 | 8,089,672 |
| Current liabilities: | ||
| Accounts payable | 938,684 | 1,039,858 |
| Accrued expenses: | ||
| Contribution to retirement plans | 280,983 | 335,245 |
| Self-insurance reserves | 135,282 | 132,275 |
| Salaries and wages | 199,582 | 92,484 |
| Other | 329,991 | 217,985 |
| Federal and state income taxes | 19,483 | 0 |
| Total current liabilities | 1,904,005 | 1,817,847 |
| Deferred tax liabilities | 174,802 | 131,433 |
| Self-insurance reserves | 225,832 | 231,070 |
| Accrued postretirement benefit cost | 80,122 | 79,478 |
| Other noncurrent liabilities | 221,843 | 186,546 |
| Stockholders' equity: | ||
| Common stock of $1 par value. Authorized 1,000,000 shares; issued 797,495 shares in 2009 and 793,966 shares in 2008 | 797,495 | 793,966 |
| Additional paid-in capital | 837,848 | 806,526 |
| Retained earnings | 4,607,419 | 4,055,432 |
| Stockholders' Equity Subtotal, Total | 6,242,762 | 5,655,924 |
| Treasury stock at cost, 12,693 shares in 2009 | (201,495) | 0 |
| Accumulated other comprehensive earnings (losses) | 42,818 | (12,626) |
| Total stockholders' equity | 6,084,085 | 5,643,298 |
| Liabilities and Stockholders' Equity, Total | $8,690,689 | $8,089,672 |
| Statement Of Financial Position Classified (Parenthetical) (USD $) | ||
| Share data in Thousands, except Per Share data | Sep. 26, 2009
| Dec. 27, 2008
|
| Common stock, par value | $1 | $1 |
| Common stock, Authorized | 1,000,000 | 1,000,000 |
| Common stock, issued | 797,495 | 793,966 |
| Treasury stock at cost, shares | 12,693 | 0 |
| Statement Of Income Alternative (USD $) | ||||
| In Thousands, except Per Share data | 3 Months Ended
Sep. 26, 2009 | 3 Months Ended
Sep. 27, 2008 | 9 Months Ended
Sep. 26, 2009 | 9 Months Ended
Sep. 27, 2008 |
| Revenues: | ||||
| Sales | $5,832,254 | $5,799,923 | $18,208,267 | $17,880,869 |
| Other operating income | 46,462 | 42,966 | 143,073 | 133,202 |
| Total revenues | 5,878,716 | 5,842,889 | 18,351,340 | 18,014,071 |
| Costs and expenses: | ||||
| Cost of merchandise sold | 4,223,258 | 4,294,750 | 13,136,916 | 13,047,825 |
| Operating and administrative expenses | 1,298,480 | 1,255,274 | 3,939,646 | 3,778,952 |
| Total costs and expenses | 5,521,738 | 5,550,024 | 17,076,562 | 16,826,777 |
| Operating profit | 356,978 | 292,865 | 1,274,778 | 1,187,294 |
| Investment income | 21,882 | 26,581 | 66,012 | 105,323 |
| Other-than-temporary impairment losses | 0 | (18,885) | (19,283) | (23,281) |
| Investment income, net | 21,882 | 7,696 | 46,729 | 82,042 |
| Other income, net | 5,184 | 4,612 | 16,495 | 15,416 |
| Earnings before income tax expense | 384,044 | 305,173 | 1,338,002 | 1,284,752 |
| Income tax expense | 129,110 | 103,344 | 460,720 | 444,009 |
| Net earnings | $254,934 | $201,829 | $877,282 | $840,743 |
| Weighted average shares outstanding | 788,004 | 817,180 | 790,536 | 823,919 |
| Basic and diluted earnings per share | 0.32 | 0.25 | 1.11 | 1.02 |
| Cash dividends paid per common share | $0 | $0 | 0.41 | 0.44 |
| Statement Of Other Comprehensive Income (USD $) | ||||
| In Thousands | 3 Months Ended
Sep. 26, 2009 | 3 Months Ended
Sep. 27, 2008 | 9 Months Ended
Sep. 26, 2009 | 9 Months Ended
Sep. 27, 2008 |
| Net earnings | $254,934 | $201,829 | $877,282 | $840,743 |
| Other comprehensive earnings (losses): | ||||
| Unrealized gain (loss) on investment securities - available-for-sale (AFS), net of tax effect of $11,589 and ($14,010) for the three months ended in 2009 and 2008, respectively and net of tax effect of $30,197 and ($15,964) for the nine months ended in 2009 and 2008, respectively | 18,404 | (22,248) | 47,951 | (25,350) |
| Reclassification adjustment for net realized (gain) loss on investment securities - AFS, net of tax effect of ($1,816) and $8,789 for the three months ended in 2009 and 2008, respectively and net of tax effect of $4,718 and $7,055 for the nine months ended in 2009 and 2008, respectively | (2,884) | 13,956 | 7,493 | 11,204 |
| Comprehensive earnings | $270,454 | $193,537 | $932,726 | $826,597 |
| Statement Of Other Comprehensive Income (Parenthetical) (USD $) | ||||
| In Thousands | 3 Months Ended
Sep. 26, 2009 | 3 Months Ended
Sep. 27, 2008 | 9 Months Ended
Sep. 26, 2009 | 9 Months Ended
Sep. 27, 2008 |
| Unrealized gain (loss) on investment securities -AFS, tax effect | $11,589 | ($14,010) | $30,197 | ($15,964) |
| Reclassification adjustment for net realized (gain) loss on investment securities -AFS, tax effect | ($1,816) | $8,789 | $4,718 | $7,055 |
| Statement Of Cash Flows Direct (USD $) | ||
| In Thousands | 9 Months Ended
Sep. 26, 2009 | 9 Months Ended
Sep. 27, 2008 |
| Cash flows from operating activities: | ||
| Cash received from customers | $18,203,109 | $17,891,173 |
| Cash paid to employees and suppliers | (16,055,296) | (15,922,209) |
| Income taxes paid | (438,672) | (506,191) |
| Payment for self-insured claims | (204,112) | (199,284) |
| Dividends and interest received | 55,705 | 103,125 |
| Other operating cash receipts | 135,694 | 125,414 |
| Other operating cash payments | (6,891) | (6,357) |
| Net cash provided by operating activities | 1,689,537 | 1,485,671 |
| Cash flows from investing activities: | ||
| Payment for property, plant and equipment | (549,765) | (1,044,286) |
| Proceeds from sale of property, plant and equipment | 3,416 | 9,642 |
| Payment for investments | (803,382) | (299,415) |
| Proceeds from sale and maturity of investments | 623,932 | 753,347 |
| Net cash used in investing activities | (725,799) | (580,712) |
| Cash flows from financing activities: | ||
| Payment for acquisition of common stock | (524,392) | (753,903) |
| Proceeds from sale of common stock | 116,043 | 116,000 |
| Dividends paid | (325,295) | (364,583) |
| Other, net | 10,992 | 28,378 |
| Net cash used in financing activities | (722,652) | (974,108) |
| Net increase (decrease) in cash and cash equivalents | 241,086 | (69,149) |
| Cash and cash equivalents at beginning of period | 201,813 | 182,867 |
| Cash and cash equivalents at end of period | 442,899 | 113,718 |
| Reconciliation of net earnings to net cash provided by operating activities: | ||
| Net earnings | 877,282 | 840,743 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Depreciation and amortization | 372,841 | 322,675 |
| Retirement contributions paid or payable in common stock | 187,443 | 186,911 |
| Deferred income taxes | (1,996) | (17,191) |
| Loss on disposal and impairment of property, plant and equipment and goodwill | 19,060 | 14,496 |
| Loss on sale and impairment of investments | 12,211 | 18,259 |
| Net amortization of investments | 8,763 | 7,308 |
| Changes in operating assets and liabilities providing (requiring) cash: | ||
| Trade receivables | (40,083) | (14,451) |
| Merchandise inventories | 108,974 | 31,512 |
| Prepaid expenses and other noncurrent assets | (10,844) | (5,597) |
| Accounts payable and accrued expenses | 117,930 | 123,599 |
| Self-insurance reserves | (2,231) | 21,716 |
| Federal and state income taxes | 24,094 | (45,007) |
| Other noncurrent liabilities | 16,093 | 698 |
| Total adjustments | 812,255 | 644,928 |
| Net cash provided by operating activities | $1,689,537 | $1,485,671 |
| (1) Basis of Presentation | |
| 9 Months Ended
Sep. 26, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (1) Basis of Presentation | (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 Companys financial position, results of operations and cash flows. Due to the seasonal nature of the Companys business, the results of operations for the three and nine months ended September26, 2009 are not necessarily indicative of the results for the entire 2009 fiscal year. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Companys Annual Report on Form 10-K for the year ended December27, 2008. 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. |
| (2) New Accounting Standards | |
| 9 Months Ended
Sep. 26, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (2) New Accounting Standards | (2) New Accounting Standards Recently Adopted Standards In June 2009, the Financial Accounting Standards Board (FASB) issued a new standard that changes the referencing and organization of accounting guidance and establishes the FASB Accounting Standards Codification as the single source of authoritative nongovernmental GAAP. Rules and interpretive releases of the SEC under the authority of federal securities laws are also sources of authoritative GAAP for SEC registrants. Due to the adoption of this standard during the quarter ended September26, 2009, the Companys financial statements will no longer cite specific GAAP references. The adoption of this standard did not have an effect on the Companys financial condition, results of operations or cash flows. In May 2009, the FASB issued a new standard that establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued or are available to be issued. The adoption of this standard during the quarter ended June27, 2009 did not have an effect on the Companys financial condition, results of operations or cash flows. In April 2009, the FASB issued three amendments to the standards of accounting for the fair value measurement and impairment of securities. These amendments provide guidance for determining fair value measurements when the volume and level of activity of an asset or liability have significantly decreased from normal market activity. The amendments also provide guidance on determining whether a debt security is other-than-temporarily impaired, expand the disclosures of other-than-temporarily impaired debt and equity securities, and require interim reporting of fair value disclosures. The adoption of these amendments during the quarter ended June27, 2009 did not have an effect on the Companys financial condition, results of operations or cash flows. As a result, certain 2008 amounts have been reclassified to conform with the 2009 presentation in the condensed consolidated statements of earnings. In March 2008, the FASB issued a new standard that requires enhanced disclosures about an entitys derivative and hedging activities. The Company does not currently have derivatives or enter into hedging activities; therefore, the adoption of this standard during the quarter ended March28, 2009 did not have an effect on the Companys financial condition, results of operations or cash flows. In December 2007, the FASB issued a new standard that requires the noncontrolling interest in a subsidiary be reported as a separate component of stockholders equity in the consolidated financial statements. The standard also requires net income attributable to the noncontrolling interest in a subsidiary be reported separately on the face of the consolidated statements of earnings. Changes in ownership interest are to be accounted for as equity transactions and, when a subsidiary is deconsolidated, any retained noncontrolling equity investment in the former subsidiary is to be measured at fair value with any gain or loss recognized in earnings. The adoption of this standard during the quarter ended |
| (3) Fair Value of Financial Instruments | |
| 9 Months Ended
Sep. 26, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (3) Fair Value of Financial Instruments | (3) Fair Value of Financial Instruments The following methods and assumptions were used by the Company in estimating the fair value of its financial instruments: Cash and cash equivalents: The carrying amount for cash and cash equivalents approximates fair value. Investment securities: The fair values for debt and equity securities are based on Level 1 and Level 2 market prices as described in Note4. The carrying amount of the Companys other financial instruments as of September26, 2009 and December27, 2008 approximates their respective fair values. Other investments are accounted for using the equity method. The carrying amount of other investments approximates fair value. |
| (4) Investments | |
| 9 Months Ended
Sep. 26, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (4) Investments | (4) Investments All of the Companys debt and equity investments are classified as available-for-sale (AFS) and are carried at fair value. The Company evaluates quarterly whether AFS securities are other-than-temporarily impaired (OTTI) based on criteria that include the extent to which cost exceeds market value, the duration of the market decline, the credit rating of the issuer or security, the failure of the issuer to make scheduled principal or interest payments, and the financial health and prospects of the issuer or security. Declines in the value of AFS securities determined to be OTTI are recognized in earnings and included in other-than-temporary impairment losses. Debt securities with unrealized losses are considered OTTI if the Company intends to sell the security or if the Company will be required to sell the security prior to any anticipated recovery. If the Company determines that a debt security is OTTI under these circumstances, the impairment recognized in earnings is measured as the difference between the amortized cost and the current fair value. A debt security is also determined to be OTTI if the Company does not expect to recover the amortized cost of the security. However, in this circumstance, if the Company does not intend to sell the security and will not be required to sell the security, the impairment recognized in earnings equals the estimated credit loss as measured by the difference between the present value of expected cash flows and the amortized cost of the security. Expected cash flows are discounted using the securitys effective interest rate. An equity security is determined to be OTTI if the Company does not expect to recover the cost of the security. Declines in the value of AFS securities determined to be temporary are reported, net of tax, as other comprehensive earnings (losses) and included as a component of stockholders equity. Interest and dividend income, amortization of premiums, accretion of discounts and realized gains and losses on AFS securities are included in investment income. Interest income is accrued as earned. Dividend income is recognized as income on the ex-dividend date of the stock. The cost of securities sold is based on the specific identification method. The Company also holds other investments in joint ventures, partnerships or other equity investments for which evaluation of the existence and quantification of other-than-temporary declines in value may be required. Realized gains and losses on other investments are included in investment income. Declines in the value of other investments determined to be other-than-temporary are included in other-than-temporary impairment losses. Following is a summary of investments as of September26, 2009 and December27, 2008: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (Amounts are in thousands) September26, 2009 Available-for-sale: Tax exempt bonds $ 1,039,642 17,810 148 1,057,304 Taxable bonds 755,994 15,352 2,888 768,458 Equity securities 147,276 47,273 1,693 192,856 |
| (5) Subsequent Events | |
| 9 Months Ended
Sep. 26, 2009 USD / shares | |
| Notes to Financial Statements [Abstract] | |
| (5) Subsequent Events | (5) Subsequent Events The Company evaluated events that occurred subsequent to September26, 2009 through when this Form10-Q was filed with the SEC on November5, 2009 for potential recognition or disclosure in the condensed consolidated financial statements. |
| Document Information | |
| 9 Months Ended
Sep. 26, 2009 USD / shares | |
| Document Information [Text Block] | |
| Document Type | 10-Q |
| Amendment Flag | false |
| Document Period End Date | 2009-09-26 |
| Entity Information (USD $) | ||
| 9 Months Ended
Sep. 26, 2009 | Oct. 23, 2009
| |
| Entity [Text Block] | ||
| Entity Registrant Name | PUBLIX SUPER MARKETS INC | |
| Entity Central Index Key | 0000081061 | |
| Current Fiscal Year End Date | --12-26 | |
| Entity Filer Category | Large Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 784,667,000 |
