Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 18, 2015 | Aug. 17, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 18, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | SPTN | |
Entity Registrant Name | SpartanNash Co | |
Entity Central Index Key | 877,422 | |
Current Fiscal Year End Date | --01-02 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 37,516,876 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jul. 18, 2015 | Jan. 03, 2015 |
Current assets | ||
Cash and cash equivalents | $ 13,085 | $ 6,443 |
Accounts and notes receivable, net | 298,034 | 282,697 |
Inventories, net | 552,327 | 577,197 |
Prepaid expenses and other current assets | 21,678 | 31,882 |
Property and equipment held for sale | 5,996 | 15,180 |
Total current assets | 891,120 | 913,399 |
Property and equipment, net | 587,871 | 597,150 |
Goodwill | 331,523 | 297,280 |
Other assets, net | 122,478 | 124,453 |
Total assets | 1,932,992 | 1,932,282 |
Current liabilities | ||
Accounts payable | 350,719 | 320,037 |
Accrued payroll and benefits | 60,541 | 73,220 |
Other accrued expenses | 45,705 | 44,690 |
Deferred income taxes | 28,819 | 22,494 |
Current maturities of long-term debt and capital lease obligations | 21,669 | 19,758 |
Total current liabilities | 507,453 | 480,199 |
Long-term liabilities | ||
Deferred income taxes | 87,316 | 91,232 |
Postretirement benefits | 17,022 | 23,701 |
Other long-term liabilities | 39,379 | 39,387 |
Long-term debt and capital lease obligations | 516,012 | 550,510 |
Total long-term liabilities | $ 659,729 | $ 704,830 |
Commitments and contingencies (Note 8) | ||
Shareholders’ equity | ||
Common stock, voting, no par value; 100,000 shares authorized; 37,517 and 37,524 shares outstanding | $ 518,615 | $ 520,791 |
Preferred stock, no par value, 10,000 shares authorized; no shares outstanding | ||
Accumulated other comprehensive loss | $ (11,359) | $ (11,655) |
Retained earnings | 258,554 | 238,117 |
Total shareholders’ equity | 765,810 | 747,253 |
Total liabilities and shareholders’ equity | $ 1,932,992 | $ 1,932,282 |
CONDENSED CONSOLIDATED BALANCE3
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jul. 18, 2015 | Jan. 03, 2015 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | $ 0 | $ 0 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 37,517,000 | 37,524,000 |
Preferred stock, par value | $ 0 | $ 0 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Income Statement [Abstract] | ||||
Net sales | $ 1,795,864 | $ 1,810,175 | $ 4,108,547 | $ 4,143,902 |
Cost of sales | 1,533,822 | 1,545,061 | 3,510,259 | 3,531,450 |
Gross profit | 262,042 | 265,114 | 598,288 | 612,452 |
Operating expenses | ||||
Selling, general and administrative | 225,433 | 228,806 | 527,804 | 544,271 |
Merger integration and acquisition | 151 | 2,581 | 2,835 | 6,749 |
Restructuring (gains) charges and asset impairment | (336) | 1,078 | 7,002 | 1,205 |
Total operating expenses | 225,248 | 232,465 | 537,641 | 552,225 |
Operating earnings | 36,794 | 32,649 | 60,647 | 60,227 |
Other income and expenses | ||||
Interest expense | 4,894 | 5,475 | 11,644 | 12,949 |
Other, net | (26) | (54) | 5 | |
Total other income and expenses | 4,868 | 5,475 | 11,590 | 12,954 |
Earnings before income taxes and discontinued operations | 31,926 | 27,174 | 49,057 | 47,273 |
Income taxes | 11,619 | 9,779 | 18,303 | 17,359 |
Earnings from continuing operations | 20,307 | 17,395 | 30,754 | 29,914 |
Loss from discontinued operations, net of taxes | (46) | (76) | (166) | (285) |
Net earnings | $ 20,261 | $ 17,319 | $ 30,588 | $ 29,629 |
Basic earnings per share: | ||||
Earnings from continuing operations | $ 0.54 | $ 0.46 | $ 0.82 | $ 0.79 |
Loss from discontinued operations | (0.01) | |||
Net earnings | 0.54 | 0.46 | 0.81 | 0.79 |
Diluted earnings per share: | ||||
Earnings from continuing operations | 0.54 | 0.46 | 0.81 | 0.79 |
Net earnings | $ 0.54 | $ 0.46 | $ 0.81 | $ 0.79 |
CONDENSED CONSOLIDATED STATEME5
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net earnings | $ 20,261 | $ 17,319 | $ 30,588 | $ 29,629 |
Other comprehensive income, before tax | ||||
Pension and postretirement liability adjustment | 205 | 204 | 477 | 475 |
Total other comprehensive income, before tax | 205 | 204 | 477 | 475 |
Income tax expense related to items of other comprehensive income | (78) | (78) | (181) | (181) |
Total other comprehensive income, after tax | 127 | 126 | 296 | 294 |
Comprehensive income | $ 20,388 | $ 17,445 | $ 30,884 | $ 29,923 |
CONDENSED CONSOLIDATED STATEME6
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) - 6 months ended Jul. 18, 2015 - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Retained Earnings [Member] |
Balance, value at Jan. 03, 2015 | $ 747,253 | $ 520,791 | $ (11,655) | $ 238,117 |
Balance, shares at Jan. 03, 2015 | 37,524 | 37,524 | ||
Net earnings | $ 30,588 | 30,588 | ||
Other comprehensive income | 296 | 296 | ||
Dividends | (10,151) | (10,151) | ||
Share repurchase, Value | (9,000) | $ (9,000) | ||
Share repurchase, Shares | (282) | |||
Stock-based employee compensation | 5,662 | $ 5,662 | ||
Issuances of common stock and related tax benefit on stock option exercises and stock bonus plan and from deferred compensation plan, value | 2,828 | $ 2,828 | ||
Issuances of common stock and related tax benefit on stock option exercises and stock bonus plan and from deferred compensation plan, shares | 138 | |||
Issuances of restricted stock and related income tax benefits, value | 1,060 | $ 1,060 | ||
Issuances of restricted stock and related income tax benefits, shares | 312 | |||
Cancellations of restricted stock, value | (2,726) | $ (2,726) | ||
Cancellations of restricted stock, shares | (175) | |||
Balance, value at Jul. 18, 2015 | $ 765,810 | $ 518,615 | $ (11,359) | $ 258,554 |
Balance, shares at Jul. 18, 2015 | 37,517 | 37,517 |
CONDENSED CONSOLIDATED STATEME7
CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) | 6 Months Ended |
Jul. 18, 2015$ / shares | |
Statement Of Stockholders Equity [Abstract] | |
Dividends per share | $ 0.27 |
CONDENSED CONSOLIDATED STATEME8
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 18, 2015 | Jul. 12, 2014 | |
Cash flows from operating activities | ||
Net earnings | $ 30,588 | $ 29,629 |
Loss from discontinued operations, net of tax | 166 | 285 |
Earnings from continuing operations | 30,754 | 29,914 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Non-cash restructuring and asset impairment charges | 5,549 | 1,205 |
Depreciation and amortization | 45,914 | 47,702 |
LIFO expense | 3,017 | 3,527 |
Postretirement benefits expense | 562 | 2,843 |
Deferred taxes on income | 2,228 | 4,182 |
Stock-based compensation expense | 5,662 | 5,064 |
Excess tax benefit on stock compensation | (1,036) | (601) |
Other, net | 117 | (156) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (16,413) | (47,178) |
Inventories | 25,583 | 20,305 |
Prepaid expenses and other assets | 1,179 | 3,123 |
Accounts payable | 31,700 | 23,566 |
Accrued payroll and benefits | (14,758) | (17,617) |
Postretirement benefit payments | (652) | (4,798) |
Other accrued expenses and other liabilities | 3,949 | (7,108) |
Net cash provided by operating activities | 123,355 | 63,973 |
Cash flows from investing activities | ||
Purchases of property and equipment | (37,186) | (37,620) |
Net proceeds from the sale of assets | 16,613 | 3,427 |
Acquisition, net of cash acquired | (32,229) | |
Loans to customers | (2,075) | (4,544) |
Payments from customers on loans | 834 | 2,453 |
Other | (563) | (163) |
Net cash used in investing activities | (54,606) | (36,447) |
Cash flows from financing activities | ||
Proceeds from revolving credit facility | 528,237 | 557,975 |
Payments on revolving credit facility | (558,709) | (575,729) |
Share repurchase | (9,000) | |
Repayment of other long-term debt | (4,671) | (4,246) |
Financing fees paid | (1,868) | (436) |
Excess tax benefit on stock compensation | 1,036 | 601 |
Proceeds from sale of common stock | 2,401 | 758 |
Dividends paid | (10,151) | (9,059) |
Net cash used in financing activities | (52,725) | (30,136) |
Cash flows from discontinued operations | ||
Net cash provided by (used in) operating activities | 593 | (186) |
Net cash used in investing activities | (9,975) | |
Net cash used in discontinued operations | (9,382) | (186) |
Net increase (decrease) in cash and cash equivalents | 6,642 | (2,796) |
Cash and cash equivalents at beginning of period | 6,443 | 9,216 |
Cash and cash equivalents at end of period | $ 13,085 | $ 6,420 |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Basis of Presentation | 6 Months Ended |
Jul. 18, 2015 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies and Basis of Presentation | Note 1 Summary of Significant Accounting Policies and Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements (the “financial statements”) include the accounts of SpartanNash Company and its subsidiaries (“SpartanNash” or the “Company”). All significant intercompany accounts and transactions have been eliminated. In the opinion of management, the accompanying financial statements, taken as a whole, contain all adjustments, which are of a normal recurring nature, necessary to present fairly the financial position of SpartanNash as of July 18, 2015, and the results of its operations and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year. |
Recently Issued Accounting Stan
Recently Issued Accounting Standards | 6 Months Ended |
Jul. 18, 2015 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Issued Accounting Standards | Note 2 Recently Issued Accounting Standards On April 7, 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03 “ Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs .” On April 10, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08 “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014-08 changed the criteria for reporting discontinued operations and modified related disclosure requirements. The Company adopted ASU 2014-08 in the first quarter of fiscal 2015. Adoption of ASU 2014-08 did not have a material impact on the Consolidated Financial Statements. On May 28, 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which provides guidance for revenue recognition. The new guidance contained in the ASU affects any reporting organization that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. On July 9, 2015, the FASB approved a one-year deferral of the effective date of this new guidance, which results in the guidance being effective for the Company in the first quarter of its fiscal year ending December 29, 2018. Adoption is allowed by either the full retrospective or modified retrospective approach. The Company is currently in the process of evaluating the impact of adoption of this ASC on its Consolidated Financial Statements. |
Acquisitions
Acquisitions | 6 Months Ended |
Jul. 18, 2015 | |
Business Combinations [Abstract] | |
Acquisitions | Note 3 Acquisitions On June 16, 2015, SpartanNash acquired certain assets and assumed certain liabilities of Dan’s Super Market, Inc. (“Dan’s”) for a total purchase price of $32.6 million, which includes inventory of $3.8 million. The results of operations of the Dan’s acquisition are included in the accompanying Condensed Consolidated Financial Statements from the date of acquisition. Dan’s is a six-store chain serving Bismarck and Mandan, North Dakota, and was not a customer of the SpartanNash Food Distribution segment prior to the acquisition. SpartanNash acquired the Dan’s stores to strengthen its offering in this region from both a retail and distribution perspective. The purchased assets include inventory, equipment, trade name, favorable lease, non-compete agreements, and goodwill. The acquired assets and assumed liabilities were recorded at their estimated fair values as of the acquisition date and were based on preliminary estimates that may be subject to further adjustments within the measurement period. Goodwill of $24.5 million and $1.0 million was preliminarily assigned to the Retail and Food Distribution segments, respectively. On June 2, 2015, SpartanNash acquired certain assets of Bo's Super Market, Inc. (“Bo’s”). Bo’s is a twelve-store chain serving southeastern North Carolina and was a customer of the SpartanNash Food Distribution segment prior to the acquisition. SpartanNash intends to sell the stores to an independent distribution customer within the 12-month period following the acquisition. The purchased assets include inventory, equipment, and goodwill and are classified as held for sale in the Condensed Consolidated Balance Sheets. The acquired assets were recorded at their estimated fair values less estimated costs to sell as of the acquisition date and were based on preliminary estimates that may be subject to further adjustments within the measurement period. Goodwill of $8.7 million was preliminarily assigned to the Food Distribution segment. The results of operations are reported as discontinued operations in the Condensed Consolidated Financial Statements as the acquired assets meet the criteria to be held for sale at the date of acquisition. |
Goodwill
Goodwill | 6 Months Ended |
Jul. 18, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill | Note 4 Goodwill Changes in the carrying amount of goodwill were as follows: (In thousands) Retail Food Distribution Total Balance at January 3, 2015: Goodwill $ 252,532 $ 131,348 $ 383,880 Accumulated impairment charges (86,600 ) — (86,600 ) Goodwill, net 165,932 131,348 297,280 Acquisitions (including held-for-sale disposal group) 24,512 9,746 34,258 Other (15 ) — (15 ) Balance at July 18, 2015: Goodwill 277,029 141,094 418,123 Accumulated impairment charges (86,600 ) — (86,600 ) Goodwill, net $ 190,429 $ 141,094 $ 331,523 |
Restructuring and Asset Impairm
Restructuring and Asset Impairment | 6 Months Ended |
Jul. 18, 2015 | |
Restructuring And Related Activities [Abstract] | |
Restructuring and Asset Impairment | Note 5 Restructuring and Asset Impairment The following table provides the activity of restructuring costs for the 28 weeks ended July 18, 2015. Accrued restructuring costs recorded in the Condensed Consolidated Balance Sheets are included in “Other accrued expenses” in Current liabilities and “Other long-term liabilities” in Long-term liabilities based on when the obligations are expected to be paid. Lease and (In thousands) Ancillary Costs Severance Total Balance - January 3, 2015 $ 13,988 $ 80 $ 14,068 Provision for lease and related ancillary costs, net of sublease income 6,760 — 6,760 (a) Provision for severance — 304 304 (b) Changes in estimates (287 ) — (287 ) (c) Lease termination adjustment (1,745 ) — (1,745 ) (d) Accretion expense 326 — 326 Payments (3,404 ) (304 ) (3,708 ) Balance - July 18, 2015 $ 15,638 $ 80 $ 15,718 (a) The provision for lease and related ancillary costs represents the initial charges estimated to be incurred for store closings in the Retail segment. (b) The provision for severance relates to a distribution center closing in the Food Distribution segment. (c) The changes in estimates relate to revised estimates of lease and ancillary costs and sublease income associated with previously closed stores. (d) The lease termination adjustment represents the benefit recognized in connection with lease buyouts on two previously closed stores. The lease liabilities were formerly included in our restructuring cost liability based on initial estimates. Included in the liability are lease obligations recorded at the present value of future minimum lease payments, calculated using a risk-free interest rate, and related ancillary costs from the date of closure to the end of the remaining lease term, net of estimated sublease income. Restructuring and asset impairment charges included in the Condensed Consolidated Statements of Earnings consisted of the following: 12 Weeks Ended 28 Weeks Ended July 18, July 12, July 18, July 12, (In thousands) 2015 2014 2015 2014 Asset impairment charges (a) $ — $ — $ 2,353 $ 906 Provision for leases and related ancillary costs, net of sublease income, related to store closings (b) — 218 6,760 236 (Gains) losses on sales of assets related to closed facilities (c) (336 ) 320 (1,876 ) (998 ) Provision for severance (d) — 70 304 266 Other costs associated with distribution center and store closings — 163 1,493 887 Changes in estimates (e) — 307 (287 ) (92 ) Lease termination adjustment (f) — — (1,745 ) — $ (336 ) $ 1,078 $ 7,002 $ 1,205 (a) The asset impairment charges were incurred in the Retail segment due to the economic and competitive environment of certain stores. (b) The provision for lease and related ancillary costs, net of sublease income, represents the initial charges estimated to be incurred for store closings in the Retail segment. (c) The (gains) losses on sales of assets resulted from the sale of a closed food distribution center and sales of closed stores in fiscal 2015 and sales of assets related to closed stores in fiscal 2014. (d) The provision for severance related to distribution center closings in the Food Distribution segment. (e) The changes in estimates relates to revised estimates of lease ancillary costs associated with previously closed facilities in the Retail and Food Distribution segments. The Retail segment realized $(287) and $(379) in the 28 weeks ended July 18, 2015 and July 12, 2014, respectively. (f) The lease termination adjustment represents the benefit recognized in connection with lease buyouts on two previously closed stores. |
Long-Term Debt
Long-Term Debt | 6 Months Ended |
Jul. 18, 2015 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | Note 6 Long-Term Debt On January 9, 2015, SpartanNash Company and certain of its subsidiaries entered into an amendment (the “Amendment”) to the Company’s Amended and Restated Loan and Security Agreement (the “Credit Agreement”) with Wells Fargo Capital Finance, LLC, as administrative agent, and certain lenders to the Credit Agreement. The Amendment reduced the interest rates by 0.25% and extended the maturity date of the Loan Agreement from November 19, 2018 to January 9, 2020. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 18, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 7 Fair Value Measurements Financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable and long-term debt. The carrying amounts of cash and cash equivalents, accounts and notes receivable, and accounts payable approximate fair value because of the short-term maturities of these financial instruments. At July 18, 2015 and January 3, 2015 the estimated fair value and the book value of our debt instruments were as follows: (In thousands) July 18, 2015 January 3, 2015 Book value of debt instruments: Current maturities of long-term debt and capital lease obligations $ 21,669 $ 19,758 Long-term debt and capital lease obligations 516,012 550,510 Total book value of debt instruments 537,681 570,268 Fair value of debt instruments 541,599 574,008 Excess of fair value over book value $ 3,918 $ 3,740 The estimated fair value of debt is based on market quotes for instruments with similar terms and remaining maturities (level 2 valuation techniques). ASC 820 prioritizes the inputs to valuation techniques used to measure fair value into the following hierarchy: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs for the asset or liability, reflecting the reporting entity’s own assumptions about the assumptions that market participants would use in pricing. Long-lived assets are measured at fair value on a nonrecurring basis using Level 3 inputs as defined in the fair value hierarchy. Assets with a book value of $5.6 million and $0.9 million were measured at fair value of $3.2 million and $0.0 million, respectively, in the 28 weeks ended July 18, 2015 and July 12, 2014, respectively. Our accounting and finance team management, which report to the chief financial officer, determine our valuation policies and procedures. The development and determination of the unobservable inputs for level 3 fair value measurements and fair value calculations are the responsibility of our accounting and finance team management and are approved by the chief financial officer. Fair value of long-lived assets is determined by estimating the amount and timing of net future cash flows, discounted using a risk-adjusted rate of interest. SpartanNash estimates future cash flows based on experience and knowledge of the market in which the assets are located, and when necessary, uses real estate brokers. See Note 5 for discussion of long-lived asset impairment charges. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 18, 2015 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 8 Commitments and Contingencies We are engaged from time-to-time in routine legal proceedings incidental to our business. We do not believe that these routine legal proceedings, taken as a whole, will have a material impact on our business or financial condition. While the ultimate effect of such actions cannot be predicted with certainty, management believes that their outcome will not result in a material adverse effect on the consolidated financial position, operating results or liquidity of SpartanNash. SpartanNash contributes to the Central States multi-employer pension plan based on obligations arising from its collective bargaining agreements in Bellefontaine, Ohio, Lima, Ohio, and Grand Rapids, Michigan covering its distribution center union associates at those locations. This plan provides retirement benefits to participants based on their service to contributing employers. The benefits are paid from assets held in trust for that purpose. Trustees are appointed by contributing employers and unions; however, SpartanNash is not a trustee. The trustees typically are responsible for determining the level of benefits to be provided to participants, as well as for such matters as the investment of the assets and the administration of the plan. SpartanNash currently contributes to the Central States, Southeast and Southwest Areas Pension Fund under the terms outlined in the “Primary Schedule” of Central States’ Rehabilitation Plan. This schedule requires varying increases in employer contributions over the previous year’s contribution. Increases are set within the collective bargaining agreement and vary by location. On December 13, 2014, Congress passed the Multiemployer Pension Reform Act of 2014 (“MPRA”). The MPRA is intended to address funding shortfalls in both multiemployer pension plans and the Pension Benefit Guaranty Corporation. Because the MPRA is a complex piece of legislation, its effects on the Plan and potential implications for the Company are not known at this time. Any adjustment for withdrawal liability will be recorded when it is probable that a liability exists and can be reasonably determined. Based on the most recent information available to SpartanNash, management believes that the present value of actuarial accrued liabilities in this multi-employer plan significantly exceeds the value of the assets held in trust to pay benefits. Because SpartanNash is one of a number of employers contributing to this plan, it is difficult to ascertain what the exact amount of the underfunding would be, although management anticipates that SpartanNash’s contributions to this plan will increase each year. Management is not aware of any significant change in funding levels since January 3, 2015. To reduce this underfunding, management expects meaningful increases in expense as a result of required incremental multi-employer pension plan contributions in future years. Any adjustment for withdrawal liability will be recorded when it is probable that a liability exists and can be reasonably determined (see Note 9 to the Condensed Consolidated Financial Statements). |
Associate Retirement Plans
Associate Retirement Plans | 6 Months Ended |
Jul. 18, 2015 | |
Compensation And Retirement Disclosure [Abstract] | |
Associate Retirement Plans | Note 9 Associate Retirement Plans The following table provides the components of net periodic pension and postretirement benefit costs for the 12 weeks and 28 weeks ended July 18, 2015 and July 12, 2014: (In thousands) July 18, July 12, 12 Weeks Ended 2015 2014 SpartanNash Combined SpartanNash * Cash Balance Super Foods Pension Plan Pension Plan Pension Plan Pension Plan Interest cost $ 767 $ 1,018 $ 557 $ 461 Expected return on plan assets (1,136 ) (1,400 ) (868 ) (532 ) Recognized actuarial net loss 191 228 228 — Net periodic benefit $ (178 ) $ (154 ) $ (83 ) $ (71 ) Settlement expense 131 522 522 — Total expense (income) $ (47 ) $ 368 $ 439 $ (71 ) (In thousands) SERP Spartan Stores Medical Plan 12 Weeks Ended July 18, July 12, July 18, July 12, 2015 2014 2015 2014 Service cost $ — $ — $ 53 $ 43 Interest cost 7 8 93 91 Amortization of prior service cost — — (36 ) (37 ) Recognized actuarial net loss 10 7 40 5 Net periodic benefit $ 17 $ 15 $ 150 $ 102 *The amounts above reflect the combined values of the Cash Balance and Super Foods Pension Plans as of July 12, 2014. (In thousands) July 18, July 12, 28 Weeks Ended 2015 2014 SpartanNash Combined SpartanNash * Cash Balance Super Foods Pension Plan Pension Plan Pension Plan Pension Plan Interest cost $ 1,791 $ 2,373 $ 1,298 $ 1,075 Expected return on plan assets (2,651 ) (3,265 ) (2,024 ) (1,241 ) Recognized actuarial net loss 445 533 533 - Net periodic benefit $ (415 ) $ (359 ) $ (193 ) $ (166 ) Settlement expense 306 522 522 - Total expense (income) $ (109 ) $ 163 $ 329 $ (166 ) (In thousands) SERP Spartan Stores Medical Plan 28 Weeks Ended July 18, July 12, July 18, July 12, 2015 2014 2015 2014 Service cost $ - $ - $ 124 $ 100 Interest cost 17 19 218 212 Amortization of prior service cost - - (85 ) (85 ) Recognized actuarial net loss 22 16 93 11 Net periodic benefit $ 39 $ 35 $ 350 $ 238 On December 31, 2014, the Super Foods Plan was merged into the Cash Balance Pension Plan which was renamed the SpartanNash Company Pension Plan. The Company made contributions of $0.7 million to the SpartanNash Company Pension Plan during the 28 weeks ended July 18, 2015. This amount was determined based on 2014 plan year funding valuation results of the legacy Super Foods Plan. T As previously stated in Note 8, SpartanNash contributes to the Central States Southeast and Southwest Areas Pension Fund (“Fund”) (EIN 7456500) under the terms of the existing collective bargaining agreements and in the amounts set forth in the related collective bargaining agreements. SpartanNash employer contributions during the fiscal year ended January 3, 2015 totaled $12.9 million, which Fund administrators represent is less than 5% of total employer contributions to the Fund. SpartanNash’s employer contributions for the 28 weeks ended July 18, 2015 and July 12, 2014 were $7.4 million and $7.3 million, respectively. Based on the most recent information available to SpartanNash, management believes that the present value of actuarial accrued liabilities in this multi-employer plan significantly exceeds the value of the assets held in trust to pay benefits. Because SpartanNash is one of a number of employers contributing to this plan, it is difficult to ascertain what the exact amount of the underfunding would be, although management anticipates that SpartanNash’s contributions to this plan will increase each year. On December 13, 2014, Congress passed the Multiemployer Pension Reform Act of 2014 (“MPRA”). The MPRA is intended to address funding shortfalls in both multiemployer pension plans and the Pension Benefit Guaranty Corporation. Because the MPRA is a complex piece of legislation, its effects on the Plan and potential implications for the Company are not known at this time. Any adjustment for withdrawal liability will be recorded when it is probable that a liability exists and can be reasonably determined. |
Other Comprehensive Income or L
Other Comprehensive Income or Loss | 6 Months Ended |
Jul. 18, 2015 | |
Equity [Abstract] | |
Other Comprehensive Income or Loss | Note 10 Other Comprehensive Income or Loss SpartanNash reports comprehensive income or loss in accordance with ASU 2012-13, “Comprehensive Income,” in the financial statements. Total comprehensive income is defined as all changes in shareholders’ equity during a period, other than those resulting from investments by and distributions to shareholders. Generally, for SpartanNash, total comprehensive income equals net earnings plus or minus adjustments for pension and other postretirement benefits. While total comprehensive income is the activity in a period and is largely driven by net earnings in that period, accumulated other comprehensive income or loss (“AOCI”) represents the cumulative balance of other comprehensive income, net of tax, as of the balance sheet date. For SpartanNash, AOCI is the cumulative balance related to pension and other postretirement benefits. During the 12 week periods ended July 18, 2015 and July 12, 2014, $0.1 million was reclassified from AOCI to the Condensed Consolidated Statement of Earnings, of which $0.2 million increased selling, general and administrative expenses and $0.1 million reduced income taxes. During the 28 week periods ended July 18, 2015 and July 12, 2014, $0.3 million was reclassified from AOCI to the Condensed Consolidated Statement of Earnings, of which $0.5 million increased selling, general and administrative expenses and $0.2 million reduced income taxes. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 18, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 11 Income Taxes The effective income tax rate was 36.4% and 36.0% for the 12 weeks ended July 18, 2015 and July 12, 2014, respectively. For the 28 weeks ended July 18, 2015 and July 12, 2014, the effective income tax rate was 37.3% and 36.7%, respectively. The differences from the Federal statutory rate in the current and prior year periods are primarily due to state income taxes. |
Share Based Compensation
Share Based Compensation | 6 Months Ended |
Jul. 18, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share Based Compensation | Note 12 Share Based Compensation SpartanNash has two shareholder-approved stock incentive plans that provide for the granting of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, and other stock-based awards to directors, officers and other key associates. SpartanNash accounts for share-based compensation awards in accordance with the provisions of ASC Topic 718 which requires that share-based payment transactions be accounted for using a fair value method and the related compensation cost recognized in the financial statements over the period that an employee is required to provide services in exchange for the award. SpartanNash recognized share-based compensation expense (net of tax) of $0.6 million ($0.01 per diluted share) and $0.7 million ($0.02 per diluted share) for the 12 weeks ended July 18, 2015 and July 12, 2014, respectively, as a component of Operating expenses and Income taxes in the Condensed Consolidated Statements of Earnings. Share-based compensation expense (net of tax) was $3.5 million ($0.09 per diluted share) and $3.1 million ($0.08 per diluted share) for the 28 weeks ended July 18, 2015 and July 12, 2014, respectively. The following table summarizes activity in the share-based compensation plans for the 28 weeks ended July 18, 2015: Shares Weighted Restricted Weighted Under Average Stock Grant-Date Options Exercise Price Awards Fair Value Outstanding at January 3, 2015 494,483 $ 20.61 600,653 23.08 Granted — — 312,050 26.56 Exercised/Vested (109,401 ) 21.95 (265,737 ) 19.30 Cancelled/Forfeited (63 ) 11.50 (7,890 ) 21.98 Outstanding at July 18, 2015 385,019 $ 20.23 639,076 24.73 Vested and expected to vest in the future at July 18, 2015 385,019 $ 20.23 Exercisable at July 18, 2015 385,019 $ 20.23 There were no stock options granted during the 28 weeks ended July 18, 2015 and July 12, 2014. As of July 18, 2015, total unrecognized compensation cost related to non-vested share-based awards granted under our stock incentive plans was $7.2 million for restricted stock. The remaining compensation costs not yet recognized are expected to be recognized over a weighted average period of 2.7 years for restricted stock. All compensation costs related to stock options have been recognized. |
Discontinued Operations
Discontinued Operations | 6 Months Ended |
Jul. 18, 2015 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Discontinued Operations | Note 13 Discontinued Operations Results of the discontinued operations are excluded from the accompanying notes to the consolidated financial statements for all periods presented, unless otherwise noted. In connection with the asset purchase of Bo’s on June 2, 2015, the acquisition met the held-for-sale criteria and represents a business that, on acquisition, is a discontinued operation. The Company intends to sell the stores to an independent customer within the 12-month period following the acquisition. Inventories and equipment of $3.3 million and $0.1 million, respectively, which were measured at fair value less estimated costs to sell at the time of acquisition, are classified as held for sale in the Condensed Consolidated Balance Sheets as of July 18, 2015. The Bo’s discontinued operation is reported under the Retail segment with operating results and cash flows reported as discontinued operations in the Condensed Consolidated Financial Statements. There were no additional operations that were reclassified to discontinued operations during the 28 weeks ended July 18, 2015. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jul. 18, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 14 Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share for continuing operations: 12 Weeks Ended 28 Weeks Ended July 18, July 12, July 18, July 12, (In thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Earnings from continuing operations $ 20,307 $ 17,395 $ 30,754 $ 29,914 Adjustment for earnings attributable to participating securities (350 ) (296 ) (546 ) (535 ) Earnings from continuing operations used in calculating earnings per share $ 19,957 $ 17,099 $ 30,208 $ 29,379 Denominator: Weighted average shares outstanding, including participating securities 37,584 37,744 37,644 37,662 Adjustment for participating securities (648 ) (642 ) (668 ) (673 ) Shares used in calculating basic earnings per share 36,936 37,102 36,976 36,989 Effect of dilutive stock options 126 66 126 76 Shares used in calculating diluted earnings per share 37,062 37,168 37,102 37,065 Basic earnings per share from continuing operations $ 0.54 $ 0.46 $ 0.82 $ 0.79 Diluted earnings per share from continuing operations $ 0.54 $ 0.46 $ 0.81 $ 0.79 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Jul. 18, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | Note 15 Supplemental Cash Flow Information Non-cash financing activities include the issuance of restricted stock to employees and directors of $8.3 million and $7.0 million for the 28 weeks ended July 18, 2015 and July 12, 2014, respectively. Non-cash investing activities include capital expenditures included in accounts payable of $2.3 million and $3.8 million for the 28 weeks ended July 18, 2015 and July 12, 2014, respectively. |
Operating Segment Information
Operating Segment Information | 6 Months Ended |
Jul. 18, 2015 | |
Segment Reporting [Abstract] | |
Operating Segment Information | Note 16 Operating Segment Information The following tables set forth information about SpartanNash by operating segment: (In thousands) Military Food Distribution Retail Total 12 Week Period Ended July 18, 2015 Net sales to external customers $ 497,047 $ 782,743 $ 516,074 $ 1,795,864 Inter-segment sales — 229,087 — 229,087 Merger integration and acquisition expenses — (1,151 ) 1,302 151 Depreciation and amortization 2,810 6,169 10,474 19,453 Operating earnings 3,895 19,406 13,493 36,794 Capital expenditures 1,795 5,542 17,125 24,462 (In thousands) Military Food Distribution Retail Total 12 Week Period Ended July 12, 2014 Net sales to external customers $ 502,402 $ 767,926 $ 539,847 $ 1,810,175 Inter-segment sales — 243,866 — 243,866 Merger integration and acquisition expenses 24 2,554 3 2,581 Depreciation and amortization 1,552 7,155 10,710 19,417 Operating earnings 5,884 10,670 16,095 32,649 Capital expenditures 2,653 3,423 8,705 14,781 (In thousands) Military Food Distribution Retail Total 28 Week Period Ended July 18, 2015 Net sales to external customers $ 1,196,441 $ 1,769,178 $ 1,142,928 $ 4,108,547 Inter-segment sales — 510,362 — 510,362 Merger integration and acquisition expenses — 1,036 1,799 2,835 Depreciation and amortization 6,543 14,705 23,990 45,238 Operating earnings 10,053 39,655 10,939 60,647 Capital expenditures 2,379 9,095 25,712 37,186 (In thousands) Military Food Distribution Retail Total 28 Week Period Ended July 12, 2014 Net sales to external customers $ 1,186,569 $ 1,738,928 $ 1,218,405 $ 4,143,902 Inter-segment sales — 555,682 — 555,682 Merger integration and acquisition expenses 24 6,722 3 6,749 Depreciation and amortization 5,829 16,174 24,967 46,970 Operating earnings 10,305 24,879 25,043 60,227 Capital expenditures 12,848 9,990 14,782 37,620 July 18, 2015 January 3, 2015 Total Assets Military $ 433,613 $ 435,647 Food Distribution 745,094 763,914 Retail 735,498 727,979 Discontinued operations 18,787 4,742 Total $ 1,932,992 $ 1,932,282 The following table presents sales by type of similar product and services: 12 Weeks Ended 28 Weeks Ended (Dollars in thousands) July 18, 2015 July 12, 2014 July 18, 2015 July 12, 2014 Non-perishables (1) $ 1,122,910 62.5 % $ 1,131,903 62.5 % $ 2,595,622 63.1 % $ 2,606,963 62.9 % Perishables (2) 570,921 31.8 % 566,828 31.3 % 1,283,954 31.3 % 1,285,832 31.0 % Pharmacy 69,118 3.9 % 65,033 3.6 % 161,157 3.9 % 149,726 3.6 % Fuel 32,915 1.8 % 46,411 2.6 % 67,814 1.7 % 101,381 2.5 % Consolidated net sales $ 1,795,864 100.0 % $ 1,810,175 100.0 % $ 4,108,547 100.0 % $ 4,143,902 100.0 % (1) (2) |
Summary of Significant Accoun25
Summary of Significant Accounting Policies and Basis of Presentation (Policies) | 6 Months Ended |
Jul. 18, 2015 | |
Accounting Policies [Abstract] | |
Recently Issued Accounting Standards | On April 7, 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03 “ Interest - Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs .” On April 10, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08 “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014-08 changed the criteria for reporting discontinued operations and modified related disclosure requirements. The Company adopted ASU 2014-08 in the first quarter of fiscal 2015. Adoption of ASU 2014-08 did not have a material impact on the Consolidated Financial Statements. On May 28, 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers,” which provides guidance for revenue recognition. The new guidance contained in the ASU affects any reporting organization that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. On July 9, 2015, the FASB approved a one-year deferral of the effective date of this new guidance, which results in the guidance being effective for the Company in the first quarter of its fiscal year ending December 29, 2018. Adoption is allowed by either the full retrospective or modified retrospective approach. The Company is currently in the process of evaluating the impact of adoption of this ASC on its Consolidated Financial Statements. |
Goodwill (Tables)
Goodwill (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Changes in Carrying Amount of Goodwill | Changes in the carrying amount of goodwill were as follows: (In thousands) Retail Food Distribution Total Balance at January 3, 2015: Goodwill $ 252,532 $ 131,348 $ 383,880 Accumulated impairment charges (86,600 ) — (86,600 ) Goodwill, net 165,932 131,348 297,280 Acquisitions (including held-for-sale disposal group) 24,512 9,746 34,258 Other (15 ) — (15 ) Balance at July 18, 2015: Goodwill 277,029 141,094 418,123 Accumulated impairment charges (86,600 ) — (86,600 ) Goodwill, net $ 190,429 $ 141,094 $ 331,523 |
Restructuring and Asset Impai27
Restructuring and Asset Impairment (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Restructuring And Related Activities [Abstract] | |
Schedule of Activity of Restructuring Costs | The following table provides the activity of restructuring costs for the 28 weeks ended July 18, 2015. Accrued restructuring costs recorded in the Condensed Consolidated Balance Sheets are included in “Other accrued expenses” in Current liabilities and “Other long-term liabilities” in Long-term liabilities based on when the obligations are expected to be paid. Lease and (In thousands) Ancillary Costs Severance Total Balance - January 3, 2015 $ 13,988 $ 80 $ 14,068 Provision for lease and related ancillary costs, net of sublease income 6,760 — 6,760 (a) Provision for severance — 304 304 (b) Changes in estimates (287 ) — (287 ) (c) Lease termination adjustment (1,745 ) — (1,745 ) (d) Accretion expense 326 — 326 Payments (3,404 ) (304 ) (3,708 ) Balance - July 18, 2015 $ 15,638 $ 80 $ 15,718 (a) The provision for lease and related ancillary costs represents the initial charges estimated to be incurred for store closings in the Retail segment. (b) The provision for severance relates to a distribution center closing in the Food Distribution segment. (c) The changes in estimates relate to revised estimates of lease and ancillary costs and sublease income associated with previously closed stores. (d) The lease termination adjustment represents the benefit recognized in connection with lease buyouts on two previously closed stores. The lease liabilities were formerly included in our restructuring cost liability based on initial estimates. |
Schedule of Restructuring and Asset Impairment | Restructuring and asset impairment charges included in the Condensed Consolidated Statements of Earnings consisted of the following: 12 Weeks Ended 28 Weeks Ended July 18, July 12, July 18, July 12, (In thousands) 2015 2014 2015 2014 Asset impairment charges (a) $ — $ — $ 2,353 $ 906 Provision for leases and related ancillary costs, net of sublease income, related to store closings (b) — 218 6,760 236 (Gains) losses on sales of assets related to closed facilities (c) (336 ) 320 (1,876 ) (998 ) Provision for severance (d) — 70 304 266 Other costs associated with distribution center and store closings — 163 1,493 887 Changes in estimates (e) — 307 (287 ) (92 ) Lease termination adjustment (f) — — (1,745 ) — $ (336 ) $ 1,078 $ 7,002 $ 1,205 (a) The asset impairment charges were incurred in the Retail segment due to the economic and competitive environment of certain stores. (b) The provision for lease and related ancillary costs, net of sublease income, represents the initial charges estimated to be incurred for store closings in the Retail segment. (c) The (gains) losses on sales of assets resulted from the sale of a closed food distribution center and sales of closed stores in fiscal 2015 and sales of assets related to closed stores in fiscal 2014. (d) The provision for severance related to distribution center closings in the Food Distribution segment. (e) The changes in estimates relates to revised estimates of lease ancillary costs associated with previously closed facilities in the Retail and Food Distribution segments. The Retail segment realized $(287) and $(379) in the 28 weeks ended July 18, 2015 and July 12, 2014, respectively. (f) The lease termination adjustment represents the benefit recognized in connection with lease buyouts on two previously closed stores. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Fair Value Disclosures [Abstract] | |
Schedule of Estimated Fair Value and Book Value of Debt Instruments | At July 18, 2015 and January 3, 2015 the estimated fair value and the book value of our debt instruments were as follows: (In thousands) July 18, 2015 January 3, 2015 Book value of debt instruments: Current maturities of long-term debt and capital lease obligations $ 21,669 $ 19,758 Long-term debt and capital lease obligations 516,012 550,510 Total book value of debt instruments 537,681 570,268 Fair value of debt instruments 541,599 574,008 Excess of fair value over book value $ 3,918 $ 3,740 |
Associate Retirement Plans (Tab
Associate Retirement Plans (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Compensation And Retirement Disclosure [Abstract] | |
Components of Net Periodic Pension and Postretirement Benefit Costs | The following table provides the components of net periodic pension and postretirement benefit costs for the 12 weeks and 28 weeks ended July 18, 2015 and July 12, 2014: (In thousands) July 18, July 12, 12 Weeks Ended 2015 2014 SpartanNash Combined SpartanNash * Cash Balance Super Foods Pension Plan Pension Plan Pension Plan Pension Plan Interest cost $ 767 $ 1,018 $ 557 $ 461 Expected return on plan assets (1,136 ) (1,400 ) (868 ) (532 ) Recognized actuarial net loss 191 228 228 — Net periodic benefit $ (178 ) $ (154 ) $ (83 ) $ (71 ) Settlement expense 131 522 522 — Total expense (income) $ (47 ) $ 368 $ 439 $ (71 ) (In thousands) SERP Spartan Stores Medical Plan 12 Weeks Ended July 18, July 12, July 18, July 12, 2015 2014 2015 2014 Service cost $ — $ — $ 53 $ 43 Interest cost 7 8 93 91 Amortization of prior service cost — — (36 ) (37 ) Recognized actuarial net loss 10 7 40 5 Net periodic benefit $ 17 $ 15 $ 150 $ 102 *The amounts above reflect the combined values of the Cash Balance and Super Foods Pension Plans as of July 12, 2014. (In thousands) July 18, July 12, 28 Weeks Ended 2015 2014 SpartanNash Combined SpartanNash * Cash Balance Super Foods Pension Plan Pension Plan Pension Plan Pension Plan Interest cost $ 1,791 $ 2,373 $ 1,298 $ 1,075 Expected return on plan assets (2,651 ) (3,265 ) (2,024 ) (1,241 ) Recognized actuarial net loss 445 533 533 - Net periodic benefit $ (415 ) $ (359 ) $ (193 ) $ (166 ) Settlement expense 306 522 522 - Total expense (income) $ (109 ) $ 163 $ 329 $ (166 ) (In thousands) SERP Spartan Stores Medical Plan 28 Weeks Ended July 18, July 12, July 18, July 12, 2015 2014 2015 2014 Service cost $ - $ - $ 124 $ 100 Interest cost 17 19 218 212 Amortization of prior service cost - - (85 ) (85 ) Recognized actuarial net loss 22 16 93 11 Net periodic benefit $ 39 $ 35 $ 350 $ 238 |
Share Based Compensation (Table
Share Based Compensation (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Share-Based Compensation Activity | The following table summarizes activity in the share-based compensation plans for the 28 weeks ended July 18, 2015: Shares Weighted Restricted Weighted Under Average Stock Grant-Date Options Exercise Price Awards Fair Value Outstanding at January 3, 2015 494,483 $ 20.61 600,653 23.08 Granted — — 312,050 26.56 Exercised/Vested (109,401 ) 21.95 (265,737 ) 19.30 Cancelled/Forfeited (63 ) 11.50 (7,890 ) 21.98 Outstanding at July 18, 2015 385,019 $ 20.23 639,076 24.73 Vested and expected to vest in the future at July 18, 2015 385,019 $ 20.23 Exercisable at July 18, 2015 385,019 $ 20.23 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Earnings Per Share for Continuing Operations | The following table sets forth the computation of basic and diluted earnings per share for continuing operations: 12 Weeks Ended 28 Weeks Ended July 18, July 12, July 18, July 12, (In thousands, except per share amounts) 2015 2014 2015 2014 Numerator: Earnings from continuing operations $ 20,307 $ 17,395 $ 30,754 $ 29,914 Adjustment for earnings attributable to participating securities (350 ) (296 ) (546 ) (535 ) Earnings from continuing operations used in calculating earnings per share $ 19,957 $ 17,099 $ 30,208 $ 29,379 Denominator: Weighted average shares outstanding, including participating securities 37,584 37,744 37,644 37,662 Adjustment for participating securities (648 ) (642 ) (668 ) (673 ) Shares used in calculating basic earnings per share 36,936 37,102 36,976 36,989 Effect of dilutive stock options 126 66 126 76 Shares used in calculating diluted earnings per share 37,062 37,168 37,102 37,065 Basic earnings per share from continuing operations $ 0.54 $ 0.46 $ 0.82 $ 0.79 Diluted earnings per share from continuing operations $ 0.54 $ 0.46 $ 0.81 $ 0.79 |
Operating Segment Information (
Operating Segment Information (Tables) | 6 Months Ended |
Jul. 18, 2015 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Operating Segment | The following tables set forth information about SpartanNash by operating segment: (In thousands) Military Food Distribution Retail Total 12 Week Period Ended July 18, 2015 Net sales to external customers $ 497,047 $ 782,743 $ 516,074 $ 1,795,864 Inter-segment sales — 229,087 — 229,087 Merger integration and acquisition expenses — (1,151 ) 1,302 151 Depreciation and amortization 2,810 6,169 10,474 19,453 Operating earnings 3,895 19,406 13,493 36,794 Capital expenditures 1,795 5,542 17,125 24,462 (In thousands) Military Food Distribution Retail Total 12 Week Period Ended July 12, 2014 Net sales to external customers $ 502,402 $ 767,926 $ 539,847 $ 1,810,175 Inter-segment sales — 243,866 — 243,866 Merger integration and acquisition expenses 24 2,554 3 2,581 Depreciation and amortization 1,552 7,155 10,710 19,417 Operating earnings 5,884 10,670 16,095 32,649 Capital expenditures 2,653 3,423 8,705 14,781 (In thousands) Military Food Distribution Retail Total 28 Week Period Ended July 18, 2015 Net sales to external customers $ 1,196,441 $ 1,769,178 $ 1,142,928 $ 4,108,547 Inter-segment sales — 510,362 — 510,362 Merger integration and acquisition expenses — 1,036 1,799 2,835 Depreciation and amortization 6,543 14,705 23,990 45,238 Operating earnings 10,053 39,655 10,939 60,647 Capital expenditures 2,379 9,095 25,712 37,186 (In thousands) Military Food Distribution Retail Total 28 Week Period Ended July 12, 2014 Net sales to external customers $ 1,186,569 $ 1,738,928 $ 1,218,405 $ 4,143,902 Inter-segment sales — 555,682 — 555,682 Merger integration and acquisition expenses 24 6,722 3 6,749 Depreciation and amortization 5,829 16,174 24,967 46,970 Operating earnings 10,305 24,879 25,043 60,227 Capital expenditures 12,848 9,990 14,782 37,620 July 18, 2015 January 3, 2015 Total Assets Military $ 433,613 $ 435,647 Food Distribution 745,094 763,914 Retail 735,498 727,979 Discontinued operations 18,787 4,742 Total $ 1,932,992 $ 1,932,282 |
Summary of Sales by Type of Similar Products and Services | The following table presents sales by type of similar product and services: 12 Weeks Ended 28 Weeks Ended (Dollars in thousands) July 18, 2015 July 12, 2014 July 18, 2015 July 12, 2014 Non-perishables (1) $ 1,122,910 62.5 % $ 1,131,903 62.5 % $ 2,595,622 63.1 % $ 2,606,963 62.9 % Perishables (2) 570,921 31.8 % 566,828 31.3 % 1,283,954 31.3 % 1,285,832 31.0 % Pharmacy 69,118 3.9 % 65,033 3.6 % 161,157 3.9 % 149,726 3.6 % Fuel 32,915 1.8 % 46,411 2.6 % 67,814 1.7 % 101,381 2.5 % Consolidated net sales $ 1,795,864 100.0 % $ 1,810,175 100.0 % $ 4,108,547 100.0 % $ 4,143,902 100.0 % (1) (2) |
Recently Issued Accounting St33
Recently Issued Accounting Standards - Additional Information (Detail) $ in Millions | Jul. 18, 2015USD ($) |
Accounting Standards Update Twenty Fifteen Zero Three [Member] | Other Long-term Assets and Long-term Debt [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Decrease in assets and liabilities for fiscal 2016 | $ 9.6 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) $ in Thousands | Jul. 18, 2015USD ($) | Jun. 16, 2015USD ($)Store | Jun. 02, 2015USD ($)Store | Jan. 03, 2015USD ($) |
Business Acquisition [Line Items] | ||||
Goodwill | $ 331,523 | $ 297,280 | ||
Dan's [Member] | ||||
Business Acquisition [Line Items] | ||||
Total purchase price of assets | $ 32,600 | |||
Amount of inventory included in total purchase price | $ 3,800 | |||
Number of stores acquired | Store | 6 | |||
Dan's [Member] | Retail Segment [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 24,500 | |||
Dan's [Member] | Food Distribution Segment [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 1,000 | |||
Bo Super Market Inc | ||||
Business Acquisition [Line Items] | ||||
Number of stores acquired | Store | 12 | |||
Bo Super Market Inc | Food Distribution Segment [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 8,700 |
Goodwill - Summary of Changes i
Goodwill - Summary of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 18, 2015 | Jan. 03, 2015 | |
Goodwill [Line Items] | ||
Goodwill | $ 418,123 | $ 383,880 |
Accumulated impairment charges | (86,600) | (86,600) |
Goodwill, net | 331,523 | 297,280 |
Acquisitions (including held-for-sale disposal group) | 34,258 | |
Other | (15) | |
Retail [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 277,029 | 252,532 |
Accumulated impairment charges | (86,600) | (86,600) |
Goodwill, net | 190,429 | 165,932 |
Acquisitions (including held-for-sale disposal group) | 24,512 | |
Other | (15) | |
Food Distribution [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 141,094 | 131,348 |
Goodwill, net | 141,094 | $ 131,348 |
Acquisitions (including held-for-sale disposal group) | $ 9,746 |
Restructuring and Asset Impai36
Restructuring and Asset Impairments - Schedule of Activity of Restructuring Costs (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Restructuring Cost And Reserve [Line Items] | |||
Beginning balance | $ 14,068 | ||
Provision for severance | $ 70 | 304 | $ 266 |
Changes in estimates | 307 | (287) | (92) |
Lease termination adjustment | (1,745) | ||
Accretion expense | 326 | ||
Payments | (3,708) | ||
Ending balance | 15,718 | ||
Business Restructuring Reserves [Member] | |||
Restructuring Cost And Reserve [Line Items] | |||
Provision for lease and related ancillary costs, net of sublease income | $ 218 | 6,760 | $ 236 |
Lease and Ancillary Costs [Member] | |||
Restructuring Cost And Reserve [Line Items] | |||
Beginning balance | 13,988 | ||
Changes in estimates | (287) | ||
Lease termination adjustment | (1,745) | ||
Accretion expense | 326 | ||
Payments | (3,404) | ||
Ending balance | 15,638 | ||
Lease and Ancillary Costs [Member] | Business Restructuring Reserves [Member] | |||
Restructuring Cost And Reserve [Line Items] | |||
Provision for lease and related ancillary costs, net of sublease income | 6,760 | ||
Severance [Member] | |||
Restructuring Cost And Reserve [Line Items] | |||
Beginning balance | 80 | ||
Provision for severance | 304 | ||
Payments | (304) | ||
Ending balance | $ 80 |
Restructuring and Asset Impai37
Restructuring and Asset Impairment - Schedule of Restructuring and Asset Impairment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Restructuring Cost And Reserve [Line Items] | ||||
Asset impairment charges | $ 2,353 | $ 906 | ||
(Gains) losses on sales of assets related to closed facilities | $ (336) | $ 320 | (1,876) | (998) |
Provision for severance | 70 | 304 | 266 | |
Other costs associated with distribution center and store closings | 163 | 1,493 | 887 | |
Changes in estimates | 307 | (287) | (92) | |
Lease termination adjustment | (1,745) | |||
Restructuring and asset impairment | $ (336) | 1,078 | 7,002 | 1,205 |
Business Restructuring Reserves [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Provision for leases and related ancillary costs, net of sublease income, related to store closings | $ 218 | $ 6,760 | $ 236 |
Restructuring and Asset Impai38
Restructuring and Asset Impairment - Schedule of Restructuring and Asset Impairment (Parenthetical) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |
Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Restructuring Cost And Reserve [Line Items] | |||
Changes in estimates | $ 307 | $ (287) | $ (92) |
Retail Segment [Member] | |||
Restructuring Cost And Reserve [Line Items] | |||
Changes in estimates | $ (287) | $ (379) |
Long-Term Debt - Additional Inf
Long-Term Debt - Additional Information (Detail) | Jan. 09, 2015 |
Amended and Restated Loan and Security Agreement | Wells Fargo Capital Finance, LLC | |
Debt Instrument [Line Items] | |
Debt instrument applicable margin interest rate | 0.25% |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Estimated Fair Value and Book Value of Debt Instruments (Detail) - USD ($) $ in Thousands | Jul. 18, 2015 | Jan. 03, 2015 |
Book value of debt instruments: | ||
Current maturities of long-term debt and capital lease obligations | $ 21,669 | $ 19,758 |
Long-term debt and capital lease obligations | 516,012 | 550,510 |
Total book value of debt instruments | 537,681 | 570,268 |
Fair value of debt instruments | 541,599 | 574,008 |
Excess of fair value over book value | $ 3,918 | $ 3,740 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - Significant unobservable inputs (Level 3) [Member] - USD ($) $ in Millions | Jul. 18, 2015 | Jul. 12, 2014 |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Long-lived assets | $ 5.6 | $ 0.9 |
Long-lived assets measured fair value on nonrecurring basis | $ 3.2 | $ 0 |
Associate Retirement Plans - Co
Associate Retirement Plans - Components of Net Periodic Pension and Postretirement Benefit Cost (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
SpartanNash Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 767 | $ 1,791 | ||
Expected return on plan assets | (1,136) | (2,651) | ||
Recognized actuarial net loss | 191 | 445 | ||
Net periodic benefit | (178) | (415) | ||
Settlement expense | 131 | 306 | ||
Total expense (income) | (47) | (109) | ||
Combined SpartanNash Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 1,018 | $ 2,373 | ||
Expected return on plan assets | (1,400) | (3,265) | ||
Recognized actuarial net loss | 228 | 533 | ||
Net periodic benefit | (154) | (359) | ||
Settlement expense | 522 | 522 | ||
Total expense (income) | 368 | 163 | ||
Cash Balance Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 557 | 1,298 | ||
Expected return on plan assets | (868) | (2,024) | ||
Recognized actuarial net loss | 228 | 533 | ||
Net periodic benefit | (83) | (193) | ||
Settlement expense | 522 | 522 | ||
Total expense (income) | 439 | 329 | ||
Super Foods Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 461 | 1,075 | ||
Expected return on plan assets | (532) | (1,241) | ||
Net periodic benefit | (71) | (166) | ||
Total expense (income) | (71) | (166) | ||
SERP [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | 7 | 8 | 17 | 19 |
Recognized actuarial net loss | 10 | 7 | 22 | 16 |
Net periodic benefit | 17 | 15 | 39 | 35 |
Spartan Stores Medical Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 53 | 43 | 124 | 100 |
Interest cost | 93 | 91 | 218 | 212 |
Amortization of prior service cost | (36) | (37) | (85) | (85) |
Recognized actuarial net loss | 40 | 5 | 93 | 11 |
Net periodic benefit | $ 150 | $ 102 | $ 350 | $ 238 |
Associate Retirement Plans - Ad
Associate Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jul. 18, 2015 | Jul. 12, 2014 | Jan. 03, 2015 | |
SpartanNash Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Standard pension funding carryover | $ 0.7 | ||
Central States, Southeast and Southwest Areas Pension Fund [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Pension contributions during plan year | $ 7.4 | $ 7.3 | $ 12.9 |
Maximum company contribution as percentage of total employer contributions | 5.00% |
Other Comprehensive Income or44
Other Comprehensive Income or Loss - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Net earnings | $ 20,261 | $ 17,319 | $ 30,588 | $ 29,629 |
Selling, general and administrative | 225,433 | $ 228,806 | 527,804 | $ 544,271 |
Reclassification from AOCI | ||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | ||||
Net earnings | 100 | 300 | ||
Selling, general and administrative | 200 | 500 | ||
Decreased/Increased in income taxes | $ (100) | $ (200) |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Income Tax Disclosure [Abstract] | ||||
Effective income tax rate | 36.40% | 36.00% | 37.30% | 36.70% |
Share Based Compensation - Addi
Share Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015USD ($)$ / shares | Jul. 12, 2014USD ($)$ / shares | Jul. 18, 2015USD ($)OptionPlan$ / sharesshares | Jul. 12, 2014USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of approved stock incentive plans | OptionPlan | 2 | |||
Share based compensation expense, Net of Tax | $ 0.6 | $ 0.7 | $ 3.5 | $ 3.1 |
Share based compensation expense Per diluted share, Net of Tax | $ / shares | $ 0.01 | $ 0.02 | $ 0.09 | $ 0.08 |
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options granted | shares | 0 | 0 | ||
Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation cost | $ 7.2 | $ 7.2 | ||
Unrecognized compensation cost, weighted average period of recognition | 2 years 8 months 12 days |
Share Based Compensation - Summ
Share Based Compensation - Summary of Share-Based Compensation Activity (Detail) - Jul. 18, 2015 - $ / shares | Total |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Shares Under Options, Outstanding, Beginning balance | 494,483 |
Shares Under Options, Exercised/Vested | (109,401) |
Shares Under Options, Cancelled/Forfeited | (63) |
Shares Under Options, Outstanding, Ending balance | 385,019 |
Shares Under Options, Vested and expected to vest in the future at April 25, 2015 | 385,019 |
Shares Under Options, Exercisable | 385,019 |
Weighted Average Exercise Price, Option outstanding, Beginning balance | $ 20.61 |
Weighted Average Exercise Price, Exercised/Vested | 21.95 |
Weighted Average Exercise Price, Cancelled/Forfeited | 11.50 |
Weighted Average Exercise Price, Options outstanding, Ending balance | 20.23 |
Weighted Average Exercise Price, Vested and expected to vest in the future at April 25, 2015 | 20.23 |
Weighted Average Exercise Price, Exercisable | $ 20.23 |
Restricted Stock Awards, Outstanding, Beginning balance | 600,653 |
Restricted Stock Awards, Granted | 312,050 |
Restricted Stock Awards, Exercised/Vested | (265,737) |
Restricted Stock Awards, Cancelled/Forfeited | (7,890) |
Restricted Stock Awards, Outstanding, Ending balance | 639,076 |
Weighted Average Grant-Date Fair Value, Beginning balance | $ 23.08 |
Weighted Average Grant-Date Fair Value, Granted | 26.56 |
Weighted Average Grant-Date Fair Value, Exercised/Vested | 19.30 |
Weighted Average Grant-Date Fair Value, Cancelled/Forfeited | 21.98 |
Weighted Average Grant-Date Fair Value, Ending balance | $ 24.73 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) $ in Millions | Jul. 18, 2015USD ($) |
Discontinued Operations And Disposal Groups [Abstract] | |
Discontinued operation, inventories | $ 3.3 |
Discontinued operation,equipment | $ 0.1 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share for Continuing Operations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Numerator: | ||||
Earnings from continuing operations | $ 20,307 | $ 17,395 | $ 30,754 | $ 29,914 |
Adjustment for earnings attributable to participating securities | (350) | (296) | (546) | (535) |
Earnings from continuing operations used in calculating earnings per share | $ 19,957 | $ 17,099 | $ 30,208 | $ 29,379 |
Denominator: | ||||
Weighted average shares outstanding, including participating securities | 37,584 | 37,744 | 37,644 | 37,662 |
Adjustment for participating securities | (648) | (642) | (668) | (673) |
Shares used in calculating basic earnings per share | 36,936 | 37,102 | 36,976 | 36,989 |
Effect of dilutive stock options | 126 | 66 | 126 | 76 |
Shares used in calculating diluted earnings per share | 37,062 | 37,168 | 37,102 | 37,065 |
Basic earnings per share from continuing operations | $ 0.54 | $ 0.46 | $ 0.82 | $ 0.79 |
Diluted earnings per share from continuing operations | $ 0.54 | $ 0.46 | $ 0.81 | $ 0.79 |
Supplemental Cash Flow Inform50
Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 18, 2015 | Jul. 12, 2014 | |
Supplemental Cash Flow Elements [Abstract] | ||
Restricted stock issuance | $ 8.3 | $ 7 |
Capital expenditures recorded in current liabilities | $ 2.3 | $ 3.8 |
Operating Segment Information -
Operating Segment Information - Schedule of Segment Reporting Information, by Operating Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | Jan. 03, 2015 | |
Segment Reporting Information [Line Items] | |||||
Net sales | $ 1,795,864 | $ 1,810,175 | $ 4,108,547 | $ 4,143,902 | |
Merger integration and acquisition expenses | 151 | 2,581 | 2,835 | 6,749 | |
Depreciation and amortization | 19,453 | 19,417 | 45,238 | 46,970 | |
Operating earnings | 36,794 | 32,649 | 60,647 | 60,227 | |
Capital expenditures | 24,462 | 14,781 | 37,186 | 37,620 | |
Total Assets | 1,932,992 | 1,932,992 | $ 1,932,282 | ||
Discontinued Operations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Total Assets | 18,787 | 18,787 | 4,742 | ||
Military [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Merger integration and acquisition expenses | 24 | 24 | |||
Depreciation and amortization | 2,810 | 1,552 | 6,543 | 5,829 | |
Operating earnings | 3,895 | 5,884 | 10,053 | 10,305 | |
Capital expenditures | 1,795 | 2,653 | 2,379 | 12,848 | |
Total Assets | 433,613 | 433,613 | 435,647 | ||
Food Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Merger integration and acquisition expenses | (1,151) | 2,554 | 1,036 | 6,722 | |
Depreciation and amortization | 6,169 | 7,155 | 14,705 | 16,174 | |
Operating earnings | 19,406 | 10,670 | 39,655 | 24,879 | |
Capital expenditures | 5,542 | 3,423 | 9,095 | 9,990 | |
Total Assets | 745,094 | 745,094 | 763,914 | ||
Retail [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Merger integration and acquisition expenses | 1,302 | 3 | 1,799 | 3 | |
Depreciation and amortization | 10,474 | 10,710 | 23,990 | 24,967 | |
Operating earnings | 13,493 | 16,095 | 10,939 | 25,043 | |
Capital expenditures | 17,125 | 8,705 | 25,712 | 14,782 | |
Total Assets | 735,498 | 735,498 | $ 727,979 | ||
Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 1,795,864 | 1,810,175 | 4,108,547 | 4,143,902 | |
Operating Segments [Member] | Military [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 497,047 | 502,402 | 1,196,441 | 1,186,569 | |
Operating Segments [Member] | Food Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 782,743 | 767,926 | 1,769,178 | 1,738,928 | |
Operating Segments [Member] | Retail [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 516,074 | 539,847 | 1,142,928 | 1,218,405 | |
Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | (229,087) | (243,866) | (510,362) | (555,682) | |
Intersegment Eliminations [Member] | Food Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | $ (229,087) | $ (243,866) | $ (510,362) | $ (555,682) |
Operating Segment Information52
Operating Segment Information - Summary of Sales by Type of Similar Products and Services (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 18, 2015 | Jul. 12, 2014 | Jul. 18, 2015 | Jul. 12, 2014 | |
Revenue from External Customer [Line Items] | ||||
Consolidated net sales | $ 1,795,864 | $ 1,810,175 | $ 4,108,547 | $ 4,143,902 |
Sales Revenue [Member] | Product Concentration Risk [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales, Percentage | 100.00% | 100.00% | 100.00% | 100.00% |
Fuel [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales | $ 32,915 | $ 46,411 | $ 67,814 | $ 101,381 |
Fuel [Member] | Sales Revenue [Member] | Product Concentration Risk [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales, Percentage | 1.80% | 2.60% | 1.70% | 2.50% |
Non Perishables [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales | $ 1,122,910 | $ 1,131,903 | $ 2,595,622 | $ 2,606,963 |
Non Perishables [Member] | Sales Revenue [Member] | Product Concentration Risk [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales, Percentage | 62.50% | 62.50% | 63.10% | 62.90% |
Perishables [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales | $ 570,921 | $ 566,828 | $ 1,283,954 | $ 1,285,832 |
Perishables [Member] | Sales Revenue [Member] | Product Concentration Risk [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales, Percentage | 31.80% | 31.30% | 31.30% | 31.00% |
Pharmacy [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales | $ 69,118 | $ 65,033 | $ 161,157 | $ 149,726 |
Pharmacy [Member] | Sales Revenue [Member] | Product Concentration Risk [Member] | ||||
Revenue from External Customer [Line Items] | ||||
Consolidated net sales, Percentage | 3.90% | 3.60% | 3.90% | 3.60% |