Weis Markets, Inc

Balance Sheet
Assets
Current
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Prepaid expenses
Income taxes recoverable
Total current assets
Property and equipment, at cost
Accumulated depreciation
Property and equipment, net
Goodwill
Intangible and other assets, net
Total assets
Liabilities
Current
Accounts payable
Accrued expenses
Accrued self-insurance
Payable to employee benefit plans
Income taxes payable
Deferred income taxes
Total current liabilities
Postretirement benefit obligations
Deferred income taxes
Total liabilities
Shareholders' Equity
Common stock,
Retained earnings
Accumulated other comprehensive income, net
Treasury stock at cost
Total shareholders' equity
Total liabilities and shareholders' equity
Income Statement
Net sales
Cost of sales,
Gross profit on sales
Operating, general and administrative expenses
Income from operations
Investment income
Income before provision for income taxes
Provision for income taxes
Net income
Weighted-average shares outstanding, basic
Weighted-average shares outstanding, diluted
Cash dividends per share
Basic and diluted earnings per share
Statement of Shareholders' Equity
Balance at December 25, 2004
Net Income

2007

2006

41,187
26,182
48,460
193,732
3,317
8,074
320,952
1,229,378
(730,132)
499,246
15,722
4,149
840,069

27,545
38,163
41,885
189,468
3,932
300,993
1,181,927
(689,384)
492,543
15,722
4,804
814,062

111,555
23,036
23,442
1,400
4,134
163,567
14,027
14,247
191,841

105,859
22,307
22,778
1,435
865
298
153,542
12,912
18,445
184,899

9,830
779,760
7,339
796,929
(148,701)
648,228
840,069

8,595
760,531
6,084
775,210
(146,047)
629,163
814,062

2007

2006

Change

(11,981)
6,575
4,264
(615)
8,074
47,451
(40,748)
6,703
(655)
5,696
729
664
(35)
(865)
3,836
1,115
(4,198)
6,942
1,235
19,229
1,255

2005

2,318,551
1,716,424
602,127
527,378
74,749
3,010
77,759
26,769
50,990

2,244,512
1,647,233
597,279
515,675
81,604
4,484
86,088
30,078
56,010

2,222,598
1,634,874
587,724
491,499
96,225
3,081
99,306
35,885
63,421

26,987,786
26,993,997

27,016,877
27,027,198

27,026,748
27,033,789

1.16
1.89

1.16
2.07

1.12
2.35

Common Stock
Shares
Amount
32,997,157
-

Retained
Earnings
8,199
-

-452

AOCI
702,714
63,421

4,747
-

Other comprehensive loss,

Comprehensive income
Shares issued for options
Treasury stock purchased
Dividends paid
Balance at December 31, 2005
Net Income
Other comprehensive income,
Comprehensive income
Shares issued for options
Treasury stock purchased
Dividends paid
Balance at December 30, 2006
Net Income
Other comprehensive income,
Comprehensive income
Cumulative effect of change in acctg principle
Shares issued for options
Treasury stock purchased
Dividends paid
Balance at December 29, 2007
Statement of Cash Flows
Operating
Net income
Adjustment to reconcile net income to net cash
Depreciation and amortization expense
Amortization of intangibles
(Gain) loss on disposition / impairment of FA
Gain on sale of marketable securities
Changes in operating assets and liabilities
Accounts receivable
Inventories
Prepaid expenses
Income taxes recoverable
Accounts payable and other liabilities
Accrued expenses
Accrued self-insurance
Payable to employee benefit plans
Income taxes payable
Retirement benefits obligations
Deferred income taxes
Net cash provided by operating activities
Investing
Purchase of property and equipment
Proceeds from the sale of property and equipment
Purchase of marketable securities
Proceeds from the sale of marketable securities
Net cash used in investing activities
Financing
Proceeds from issuance of common stock
Dividends paid
Purchase of treasury stock
Net cash used in financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of year
Cash and cash equivalents at end of year

(451)

5,200
33,002,357
-

172
8,371
-

(30,270)
735,865
56,010
-

4,296
1,788

6,689
33,009,046
-

224
8,595
-

(31,344)
760,531
50,990
-

6,084
1,255

35,311
33,044,357

1,235
9,830

(452)
(31,309)
779,760

7,339

2007

2006

2005

50,990

56,010

63,421

54,187
655
(8,031)
(6)

50,288
732
974
(431)

49,215
891
519
(422)

(6,575)
(4,264)
615
(8,074)
5,696
729
664
(35)
(1,317)
1,115
(1,252)
85,097

(3,509)
(10,086)
2,144
4,964
2,228
1,225
(11,052)
(1,155)
12,912
(5,762)
99,482

(2,318)
(14,338)
(1,106)
1,729
5,152
(558)
1,381
1,661
2,020
(2,845)
104,402

(64,233)
11,374
14,132
(38,727)

(99,975)
2,696
(33,020)
21,554
(108,745)

(55,468)
291
(8,248)
902
(62,523)

1,235
(31,309)
(2,654)
(32,728)

224
(31,344)
(1,372)
(32,492)

172
(30,270)
(715)
(30,813)

13,642
27,545
41,187

(41,755)
69,300
27,545

11,066
58,234
69,300

13,642

(1,317)

Treasury Stock
Total
Shares
Amount
Shareholders' Equity
5,964,330
(143,960)
571,700
63,421

18,131
5,982,461
-

(715)
(144,675)
-

3,498
30,332
6,016,291
-

(154)
(1,218)
(146,047)
-

25,561
35,459
6,077,311

(1,155)
(1,499)
(148,701)

(451)
62,970
172
(715)
(30,270)
603,857
56,010
1,788
57,798
70
(1,218)
(31,344)
629,163
50,990
1,255
52,245
(452)
80
(1,499)
(31,309)
648,228

Dr
Beginning Balance

Cash
Cr

T-Acc

27,545

Marketable Securities
38,163
2,145
6
14,132
26,182

Operating

Prepaid Expense
3,932

3,317
Accumulated Depreciation
689,384

54,187
Income taxes payable

1,317

13,439

Deferred income taxes

1,252

730,132

Investing

Purchase of marketable securities

Proceeds from the sale of marketable securities

Accounts Payable
105,859
14,132
111,555
Payable to Employee
Benefits Plan
1,435

Financing

Purchase of treasury stock

Ending Balance B/S

Ending Balance (T-Account Total)
Difference

2,654

41,187
36,454

1,400
Postretirement Benefit
Obligations
12,912

4,733

14,027
Accumulated Other
Comprehensive Income
6,084

7,339

T-Accounts

Accounts Receivable, net

41,885

48,460
Income Taxes
Recoverable
-

Inventory
189,468

193,732
PP&E, gross
1,181,927

64,233
16,782
8,074

1,229,378
Carrying value of the Property Sold
Intangibles and Other Assets,
net
Property Sold at
4,804
Gain

Goodwill
15,722

3,343
11374
8,031

655
15,722

4,149

Accrued Expenses
22,307

Accrued Self-Insurance
22,778

23,036

23,442

Income Taxes Payable

865
452
1,317

Deferred Income Taxes

(current & long-term)
18,743
1,252
890
-

Common Stock
8,595

18,381
Retained Earnings
760,531
452

19,681
1,235
9,830
Treasury Stock
146,047
2,654

148,701

NetIncome - (Change in RE) = Dividends Paid

31309

779,760

- (Change in RE) = Dividends Paid

Marketable Securities
Sales
Gain on sale

14,132
6

J/E
Dr
Dr Marketable Securities
Cr Gain on Sold Marketable Securities
Dr Cash
Cr Marketable Securities
Dr Marketable Securities
Cr AOCI
Cr Deferred Income Taxes

BB
Value changes for Securities Held
Value changes for Securities Sold
Sales
Purchases
EB

Cr
6
6
14,132
14,132
2,145
1,255
890

Marketable Securities
Dr
Cr
38,163
2,145
6
14,132
26,182

Income Taxes

J/E
Dr Deferred Inc Taxes
Cr Provision for Income Taxes

Dr

Deferred Income Taxes

Cr
1,252
1,252

Current
Dr

Non Current
Dr
Cr

Cr

BB
Reduction of provision
Marketable securities value changes
Other Changes
EB

298

18,445

4,134
Income Taxes Payable
452
452
Dr

Cr

1,317

865
452 Non Cash Rec
Cash Rec
-

14,247

Cr
18,743

1,252

J/E
Dr Retained Earnings
Cr Income Taxes Payable

BB
Change in acctg principle
Other changes
EB

Total
Dr

Cash Rec
890 Non Cash Rec
Cash Rec
18,381