Weis Markets (WMK) 10-K1 Mar 232022 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2022	Mar. 01, 2023	Jun. 25, 2022
Cover [Abstract]
Entity Central Index Key	0000105418
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-5039
Entity Registrant Name	WEIS MARKETS, INC.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	24-0755415
Entity Address, Address Line One	1000 S. Second Street
Entity Address, Address Line Two	P. O. Box 471
Entity Address, City or Town	Sunbury
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17801-0471
City Area Code	570
Local Phone Number	286-4571
Title of 12(b) Security	Common stock, no par value
Trading Symbol	WMK
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 706,000,000
Entity Common Stock, Shares Outstanding		26,898,443
Documents Incorporated by Reference [Text Block]	DOCUMENTS INCORPORATED BY REFERENCE: Selected portions of the Weis Markets, Inc. 2023 definitive proxy statement are incorporated by reference in Part III of this Form 10-K.
Amendment Flag	false
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Auditor Name	RSM US LLP
Auditor Firm ID	49
Auditor Location	Philadelphia, Pennsylvania

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Current:
Cash and cash equivalents	$ 157,997	$ 86,048
Marketable securities	186,419	205,744
SERP investment	22,696	27,059
Accounts receivable, net	50,863	52,108
Inventories	293,274	269,587
Prepaid expenses and other current assets	29,921	31,112
Total current assets	741,170	671,658
Property and equipment, net	970,913	977,787
Operating lease right-to-use	175,952	191,175
Goodwill	52,330	52,330
Intangible and other assets, net	18,785	17,525
Total assets	1,959,150	1,910,475
Current:
Accounts payable	206,849	218,774
Accrued expenses	57,431	48,654
Operating leases	43,527	39,940
Accrued self-insurance	19,416	18,568
Deferred revenue, net	11,774	11,901
Income taxes payable	6,354	7,360
Total current liabilities	345,351	345,197
Postretirement benefit obligations	25,270	29,964
Accrued self-insurance	23,712	23,400
Operating leases	142,424	161,669
Deferred income taxes	111,225	115,087
Other	9,334	15,416
Total liabilities	657,316	690,733
Shareholders' Equity
Common stock, no par value, 100,800,000 shares authorized, 33,047,807 shares issued, 26,898,443 shares outstanding	9,949	9,949
Retained earnings	1,449,191	1,358,963
Accumulated other comprehensive income (loss) (Net of deferred taxes of $2,342 in 2022 and $669 in 2021)	(6,449)	1,687
Shareholders' equity before treasury stock	1,452,691	1,370,599
Treasury stock at cost, 6,149,364 shares	(150,857)	(150,857)
Total shareholders' equity	1,301,834	1,219,742
Total liabilities and shareholders' equity	$ 1,959,150	$ 1,910,475

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0	$ 0
Common stock, shares authorized	100,800,000	100,800,000
Common stock, shares issued	33,047,807	33,047,807
Common stock, shares outstanding	26,898,443	26,898,443
Accumulated other comprehensive income, deferred taxes	$ 2,342	$ 669
Treasury stock, shares	6,149,364	6,149,364

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Statement [Abstract]
Net sales	$ 4,695,943	$ 4,224,417	$ 4,112,601
Cost of sales, including advertising, warehousing and distribution expenses	3,514,029	3,108,710	3,012,167
Gross profit on sales	1,181,914	1,115,707	1,100,434
Operating, general and administrative expenses	1,024,862	968,996	937,256
Income from operations	157,052	146,711	163,178
Investment income (loss) and interest expense	(82)	5,007	3,817
Other income (expense)	3,807	(3,411)	(3,316)
Income before provision for income taxes	160,777	148,307	163,679
Provision for income taxes	35,581	39,458	44,762
Net income	$ 125,196	$ 108,849	$ 118,917
Weighted-average shares outstanding, basic	26,898,443	26,898,443	26,898,443
Weighted-average shares outstanding, diluted	26,898,443	26,898,443	26,898,443
Cash dividends per share	$ 1.30	$ 1.25	$ 1.24
Basic earnings per share	4.65	4.05	4.42
Diluted earnings per share	$ 4.65	$ 4.05	$ 4.42

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 125,196	$ 108,849	$ 118,917
Available-for-sale marketable securities
Unrealized holding gains (losses) arising during period (Net of deferred taxes of $3,011, $630 and $706, respectively)	(8,135)	(1,599)	1,806
Net current period other comprehensive income (loss)	(8,135)	(1,599)	1,806
Comprehensive income, net of tax	$ 117,061	$ 107,250	$ 120,723

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Statement of Comprehensive Income [Abstract]
Unrealized holding gains (losses) arising during period, deferred taxes	$ 3,011	$ 630	$ 706

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Treasury Stock, Common [Member]	Total
Accumulated other comprehensive income (loss) balance, Beginning at Dec. 28, 2019	$ 9,949	$ 1,198,173	$ 1,480	$ (150,857)	$ 1,058,745
Balance, shares at Dec. 28, 2019	33,047,807
Balance, treasury shares at Dec. 28, 2019				6,149,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		118,917			118,917
Other comprehensive income (loss), net of tax			1,806		1,806
Dividends paid		(33,354)			(33,354)
Accumulated other comprehensive income (loss) balance, Ending at Dec. 26, 2020	$ 9,949	1,283,737	3,286	$ (150,857)	1,146,115
Balance, shares at Dec. 26, 2020	33,047,807
Balance, treasury shares at Dec. 26, 2020				6,149,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		108,849			108,849
Other comprehensive income (loss), net of tax			(1,599)		(1,599)
Dividends paid		(33,623)			(33,623)
Accumulated other comprehensive income (loss) balance, Ending at Dec. 25, 2021	$ 9,949	1,358,963	1,687	$ (150,857)	$ 1,219,742
Balance, shares at Dec. 25, 2021	33,047,807				26,898,443
Balance, treasury shares at Dec. 25, 2021				6,149,364	6,149,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		125,196			$ 125,196
Other comprehensive income (loss), net of tax			(8,135)		(8,135)
Dividends paid		(34,968)			(34,968)
Accumulated other comprehensive income (loss) balance, Ending at Dec. 31, 2022	$ 9,949	$ 1,449,191	$ (6,449)	$ (150,857)	$ 1,301,834
Balance, shares at Dec. 31, 2022	33,047,807				26,898,443
Balance, treasury shares at Dec. 31, 2022				6,149,364	6,149,364

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Cash flows from operating activities:
Net income	$ 125,196	$ 108,849	$ 118,917
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	104,026	102,804	99,370
(Gain) loss on disposition of fixed assets	(2,407)	1,026	3,914
Unrealized (gain) loss in value of equity securities	1,325	900	1,791
Deferred income taxes	(852)	12,313	5,657
Unrealized (gain) loss in SERP	5,653	(2,309)	(2,641)
Changes in operating assets and liabilities:
Inventories	(23,687)	(563)	10,782
Accounts receivable and prepaid expenses	2,436	2,727	(6,804)
Accounts payable and other liabilities	7,695	174	54,658
Income taxes	(1,005)	2,302	(3,139)
Other	(356)	(514)	(4,515)
Net cash provided by operating activities	218,024	227,709	277,990
Cash flows from investing activities:
Purchase of property and equipment	(122,169)	(151,800)	(130,991)
Proceeds from the sale of property and equipment	6,691	5,932	470
Purchase of marketable securities	(355,757)	(116,268)	(50,789)
Proceeds from the sale and maturities of marketable securities	362,237	19,680	7,730
Purchase of intangible assets	(819)	(208)	(127)
Change in SERP investment	(1,290)	(1,986)	(1,188)
Net cash used in investing activities	(111,107)	(244,650)	(174,895)
Cash flows from financing activities:
Dividends paid	(34,968)	(33,623)	(33,354)
Net cash used in financing activities	(34,968)	(33,623)	(33,354)
Net increase (decrease) in cash and cash equivalents	71,949	(50,564)	69,741
Cash and cash equivalents at beginning of year	86,048	136,612	66,871
Cash and cash equivalents at end of period	$ 157,997	$ 86,048	$ 136,612

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Statement of Cash Flows [Abstract]
Income taxes paid	$ 37,400	$ 24,800	$ 42,300
Interest paid	$ 40	$ 32	$ 34

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 1 Summary of Significant Accounting Policies The following is a summary of the significant accounting policies utilized in preparing the Company’s Consolidated Financial Statements: (a) Description of Business Weis Markets, Inc. is a Pennsylvania business corporation founded in 1912 and incorporated in 1924. The Company is engaged principally in the retail sale of food in Pennsylvania and surrounding states. The Company’s operations are reported as a single reportable segment. There was no material change in the nature of the Company’s business during fiscal 2022. (b) Definition of Fiscal Year The Company’s fiscal year ends on the last Saturday in December. Fiscal 2022 was comprised of 53 weeks, ending on December 31, 2022. Fiscal 2021 was comprised of 52 weeks, ending on December 25, 2021. Fiscal 2020 was comprised of 52 weeks, ending on December 26, 2020. References to years in this Annual Report relate to fiscal years. (c) Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. (d) Use of Estimates Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ from those estimates. (e) Cash and Cash Equivalents The Company maintains its cash balances in the form of core checking accounts and money market accounts. The Company maintains cash deposits with banks that at times exceed applicable insurance limits. The Company reduces its exposure to credit risk by maintaining such deposits with high quality financial institutions that management believes are creditworthy. The Company considers investments with an original maturity of three months or less to be cash equivalents. Investment amounts classified as cash equivalents as of December 31, 2022 and December 25, 2021 totaled $80.5 million and $692 thousand, respectively. Consumer electronic payments accepted at the point of sale, including all credit card, debit card and electronic benefits transfer transactions that process in three days or less are classified as cash equivalents. Consumer electronic payment amounts classified as cash equivalents as of December 31, 2022 and December 25, 2021 totaled $42.9 million and $38.6 million, respectively. Note 1 Summary of Significant Accounting Policies (continued) (f) Marketable Securities Marketable securities consist of corporate and municipal bonds, commercial paper and equity securities. The Company invests primarily in high-grade marketable debt securities. The Company classifies all of its marketable securities as available-for-sale. Available-for-sale securities are recorded at fair value as determined by quoted market price based on national markets. To determine fair value the Company utilizes standard pricing procedures of its investment advisory firm(s), which include various third-party pricing services. If the cost of an investment exceeds its fair value, the Company evaluates general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. Unrealized holding gains and losses, net of the related tax effect, on corporate and municipal bonds and commercial paper are excluded from earnings and are reported as a separate component of shareholders’ equity until realized. Unrealized holding gains and losses on equity securities are recorded in investment income (loss) and interest expense. Dividend and interest income is recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of securities. Investment amounts classified as marketable securities as of December 31, 2022 and December 25, 2021 totaled $186.4 million and $205.7 million, respectively. Equity securities are measured at fair value and the unrealized holding gains and losses are recorded in investment income (loss) and interest expense. The Company recognized a $1.3 million loss in 2022 and a $900 thousand loss in 2021. (g) Accounts Receivable Accounts receivable are stated net of an allowance for uncollectible accounts of $4.6 million and $3.4 million as of December 31, 2022 and December 25, 2021, respectively. The reserve balance relates to amounts due from pharmacy third party providers, retail customer returned checks, manufacturing customers, vendors and tenants. The Company maintains an allowance for the amount of receivables deemed to be uncollectible and calculates this amount based upon historical collection activity adjusted for current conditions. (h) Inventories Inventories are valued at the lower of cost or net realizable value, using both the retail inventory and average cost methods. The retail inventory method is commonly used by retail companies to determine cost and calculate gross margin based on applying a cost-to-retail ratio to each similar merchandise category’s ending retail value. The Company’s center store and pharmacy inventories are valued using last in, first out (LIFO). The Company’s fresh inventories are valued using average cost. The Company evaluates inventory shortages throughout the year based on actual physical counts in its facilities. Allowances for inventory shortages are recorded based on the results of these counts and to provide for estimated shortages from the last physical count to the financial statement date. (i) Property and Equipment Property and equipment are recorded at cost. Depreciation is provided on the cost of buildings and improvements and equipment using the straight-line method. Leasehold improvements are amortized using the straight-line method over the terms of the leases or the useful lives of the assets, whichever is shorter. Maintenance and repairs are expensed and renewals and betterments are capitalized. When assets are retired or otherwise disposed of, the assets and accumulated depreciation are removed from the respective accounts and any profit or loss on the disposition is credited or charged to “Operating, general and administrative expenses.” Note 1 Summary of Significant Accounting Policies (continued) (j) Leases The Company leases approximately 49% of its open store facilities under operating leases that expire at various dates through 2036, with the remaining store facilities being owned. These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus variable lease costs related to real estate taxes and insurance as well as contingent rentals based on a percentage of annual sales or increases periodically based on inflation. These variable lease costs are not included in the measurement of the operating lease right-to-use assets or lease liabilities and are charged to the related expense category included in “Operating, general and administrative expenses.” Most of the leases contain multiple renewal options, under which the Company may extend the lease terms from (k) Goodwill and Intangible Assets Goodwill is not amortized but tested for impairment on an annual basis and between annual tests when indicators of impairment are identified. Intangible assets with an indefinite useful life are not amortized until their useful life is determined to be no longer indefinite and are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company’s intangible assets and related accumulated amortization at December 31, 2022 and December 25, 2021 consisted of the following: December 31, 2022 December 25, 2021 Accumulated Accumulated (amounts in thousands) Gross Amortization Net Gross Amortization Net Liquor licenses $ 15,899 $ — $ 15,899 $ 15,240 $ — $ 15,240 Asset acquisitions and other 2,566 1,433 1,133 5,083 3,788 1,295 Total $ 18,465 $ 1,433 $ 17,032 $ 20,323 $ 3,788 $ 16,535 Intangible assets with a definite useful life are generally amortized on a straight-line basis over periods up to 10 years for customer lists. Estimated amortization expense for the next five fiscal years is approximately $326 thousand in 2023, $326 thousand in 2024, $163 thousand in 2025, $156 thousand in 2026 and $66 thousand in 2027. As of December 31, 2022, the Company’s intangible assets with indefinite lives consisted of goodwill and liquor licenses. (l) Impairment of Long-Lived Assets The Company periodically evaluates the period of depreciation or amortization for long-lived assets to determine whether current circumstances warrant revised estimates of useful lives. The Company completes an impairment test annually. The Company also reviews its property and equipment for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. Recoverability is measured by a comparison of the carrying amount to the net undiscounted cash flows expected to be generated by the asset. An impairment loss would be recorded for the excess of net book value over the fair value of the asset impaired. The fair value is estimated based on current market values or expected discounted future cash flows. With respect to owned property and equipment associated with closed stores, the value of the property and equipment would be adjusted to reflect recoverable values if current economic conditions and estimated fair values of the property was less than the net book value. In accordance with Accounting Standards Codification No. 360, Property, Plant and Equipment Note 1 Summary of Significant Accounting Policies (continued) (l) Impairment of Long-Lived Assets (continued) The results of impairment tests are subject to management’s estimates and assumptions of projected cash flows and operating results. The Company believes that, based on current conditions, materially different reported results are not likely to result from long-lived asset impairments. However, a change in assumptions or market conditions could result in a change in estimated future cash flows and the likelihood of materially different reported results. (m) Self-Insurance The Company is self-insured for a majority of its workers’ compensation, general liability, vehicle accident and associate medical benefit claims. The self-insurance liability for most of the medical benefit claims is determined based on historical data and an estimate of claims incurred but not reported. The other self-insurance liabilities including workers’ compensation are determined actuarially, based on claims filed and an estimate of claims incurred but not yet reported. The Company is self-insured for certain healthcare claims and stop-loss coverage is maintained for individual annual claim occurrences exceeding a $500 thousand specific deductible. The Company is liable for workers’ compensation claims ranging from $1.0 million to $2.0 million per claim. Property and casualty insurance coverage is maintained with outside carriers at deductible or retention levels ranging from $100 thousand to $1.0 million. Significant assumptions used in the development of the actuarial estimates include reliance on the Company’s historical claims data including average monthly claims and average lag time between incurrence and reporting of the claim. (n) Income Taxes The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company reviews the tax positions taken or expected to be taken on tax returns to determine whether and to what extent a benefit can be recognized in the Consolidated Financial Statements. Refer to Note 9 to the Consolidated Financial Statements for the amount of unrecognized tax benefits and other disclosures related to uncertain tax positions. To the extent interest and penalties would be assessed by taxing authorities on any underpayment of income tax, such amounts are accrued and classified as a component of income tax expense. (o) Earnings Per Share Earnings per share are based on the weighted-average number of common shares outstanding. (p) Revenue Recognition Revenue from the sale of products to the Company’s customers is recognized at the point of sale. Discounts provided to customers at the point of sale through the Weis Club Preferred Shopper loyalty program are recognized as a reduction in sales as products are sold. Periodically, the Company will run a point-based sales incentive program that rewards customers with future sales discounts. The Company makes reasonable and reliable estimates of the amount of future discounts based upon historical experience and its customer data tracking software. Sales are reduced rationally and systematically by these estimates over the life of the program. Discounts to customers at the point of sale provided by vendors, usually in the form of paper coupons, are not recognized as a reduction in sales provided the discounts are redeemable at any retailer that accepts those discounts. The Company records “Deferred revenue” for the sale of gift cards and revenue is recognized in “Net sales” at the time of customer redemption for products. Gift card breakage income is recognized in “Operating, general and administrative expenses” based upon historical redemption patterns and represents the balance of gift cards for which the Company believes the likelihood of redemption by the customer is remote. Sales tax is excluded from “Net sales.” The Company charges sales tax on all taxable customer purchases and remits these taxes monthly to the appropriate taxing jurisdiction. Merchandise return activity is immaterial to revenues due to products being returned quickly and the relatively low unit cost. (q) Cost of Sales, Including Advertising, Warehousing and Distribution Expenses “Cost of sales, including advertising, warehousing and distribution expenses” consists of direct product costs (net of discounts and allowances), advertising (net of vendor paid cooperative advertising credits), distribution center and transportation costs, as well as manufacturing facility operations. Advertising costs, net of vendor paid cooperative advertising credits, are expensed as incurred which are primarily funded by vendor cooperative advertising credits and occur in the same period as the product is sold. Note 1 Summary of Significant Accounting Policies (continued) (r) Vendor Allowances Vendor allowances related to the Company’s buying and merchandising activities are recorded as a reduction of cost of sales as they are earned, in accordance with the underlying agreement. Off-invoice and bill-back allowances are used to reduce direct product costs upon the receipt of goods. Promotional rebates and credits are accounted for as a reduction in the cost of inventory and recognized when the related inventory is sold. Volume incentive discounts are accounted for as a reduction of cost of sales and realized using estimated amounts at the time it is deemed probable that the incentive target will be reached. Long-term contract incentives, which require an exclusive vendor relationship, are allocated over the life of the contract. Promotional allowance funds for specific vendor-sponsored programs are recognized as a reduction of cost of sales as the program occurs and the funds are earned per the agreement. Cash discounts for prompt payment of invoices are realized in cost of sales as invoices are paid. Warehouse and back-haul allowances provided by suppliers for distributing their product through the Company’s distribution system are recorded in cost of sales offsetting costs incurred. Warehouse slotting allowances are recorded in cost of sales when new items are initially set up in the Company’s distribution system, which is when the related expenses are incurred and performance under the agreement is complete. Swell allowances for damaged goods are realized in cost of sales as provided by the supplier, helping to offset product shrink losses also recorded in cost of sales. Vendor allowances recorded as credits in cost of sales totaled $120.0 million in 2022, $100.1 million in 2021 and $133.5 million in 2020. Vendor paid cooperative advertising credits totaled $2.9 million in 2022, $3.4 million in 2021 and $21.7 million in 2020. These credits were netted against advertising costs within “Cost of Sales, including Advertising, Warehousing and Distribution expenses.” The Company had accounts receivable due from vendors of (s) Operating, General and Administrative Expenses Business operating costs including expenses generated from administration and purchasing functions, are recorded in “Operating, general and administrative expenses” in the Consolidated Statements of Income. Business operating costs include items such as wages, benefits, utilities, repairs and maintenance, rent, insurance, depreciation, leasehold amortization and costs for outside provided services. (t) Advertising Costs The Company expenses advertising costs as incurred. The Company recorded advertising expense, before vendor paid cooperative advertising credits, of $23.7 million in 2022, $24.9 million in 2021 and $24.5 million in 2020 in “Cost of Sales, including Advertising, Warehousing and Distribution Expenses.” (u) Rental and Commission Income The Company leases or subleases space to tenants in owned, vacated and open store facilities. Rental income is recorded when earned as a component of “Operating, general and administrative expenses.” All leases are operating leases. Refer to Note 5 to the Consolidated Financial Statements for further disclosure on operating leases and rental income. The Company provides a variety of services to its customers, including but not limited to lottery, money orders, third-party gift cards, and third-party bill pay services. Commission income earned from these services are recorded when earned as a component of “Operating, general and administrative expenses.” The Company recorded commission income of (v) Current Relevant Accounting Standards The Company regularly monitors recently issued accounting standards and assesses their applicability and impact. The Company believes that there are no accounting standard updates that have or will have a material or significant impact on the Company’s accounting policies.

Marketable Securities

Marketable Securities	12 Months Ended
Marketable Securities	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	Note 2 Marketable Securities The Company’s marketable securities are all classified as available-for-sale within “Current Assets” in the Company’s Consolidated Balance Sheets. Financial Accounting Standards Board (FASB) has established three levels of inputs that may be used to measure fair value: Level 1 Level 2 Level 3 The Company’s marketable securities valued using Level 1 inputs include four public company equity securities, for which quoted market prices are available. The Company’s bond and commercial paper portfolio is valued using Level 2 inputs. The Company’s corporate and municipal bonds and commercial paper are valued using a combination of pricing for similar securities, recently executed transactions, cash flow models with yield curves and other pricing models utilizing observable inputs, which are considered Level 2 inputs. For Level 2 investment valuation, the Company utilizes standard pricing procedures of its investment advisory firm(s), which include various third-party pricing services. These procedures also require specific price monitoring practices as well as pricing review reports, valuation oversight and pricing challenge procedures to maintain the most accurate representation of investment fair market value. The Company accrues interest on its bond and commercial paper portfolio throughout the life of each bond and commercial paper held. Dividends from the equity securities are recognized as received. Both interest and dividends are recognized in “Investment income and interest expense” on the Company’s Consolidated Statements of Income. The Company recognized investment income of $3.8 million, $1.6 million and $536 thousand which included unrealized losses of $1.3 million, $900 thousand, and $1.8 million in the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020, respectively. Marketable securities, as of December 31, 2022 and December 25, 2021, consisted of: Gross Gross (amounts in thousands) Amortized Unrealized Unrealized Fair December 31, 2022 Cost Holding Gains Holding Losses Value Available-for-sale: Level 1 Equity securities $ 5,185 Level 2 Corporate and municipal bonds $ 190,025 $ 2,110 $ (10,901) 181,234 Total $ 190,025 $ 2,110 $ (10,901) $ 186,419 Gross Gross (amounts in thousands) Amortized Unrealized Unrealized Fair December 25, 2021 Cost Holding Gains Holding Losses Value Available-for-sale: Level 1 Equity securities $ 6,509 Level 2 Corporate and municipal bonds $ 151,947 $ 4,753 $ (2,384) 154,315 Commercial paper 44,931 2 (13) 44,920 Total $ 196,878 $ 4,755 $ (2,397) $ 205,744 Note 2 Marketable Securities (continued) Maturities of marketable securities classified as available-for-sale at December 31, 2022, were as follows: Amortized Fair (amounts in thousands) Cost Value Available-for-sale: Due within one year $ 50,645 $ 48,635 Due after one year through five years 86,011 82,959 Due after five years through ten years 29,923 26,843 Due after ten years 23,446 22,797 Total $ 190,025 $ 181,234 SERP Investments The Company also maintains a non-qualified supplemental executive retirement plan for certain of its associates which allows them to defer income to future periods. Participants in the plans earn a return on their deferrals based on mutual fund investments. The Company chooses to invest in the underlying mutual fund investments to offset the liability associated with the non-qualified deferred compensation plans. Such investments are reported on the Company’s Consolidated Balance Sheets as “SERP investment,” are classified as trading securities and are measured at fair value using Level 1 inputs with gains and losses included in “Investment income and interest expense” on the Company’s Consolidated Statements of Income. The Company recognized investment loss of $3.8 million in the fiscal year ended December 31, 2022, and investment income of $3.4 million and $3.3 million in fiscal years ended December 25, 2021 and December 26, 2020, respectively. The changes in the underlying liability to the associates are recorded in “Other income (expense).”

Inventories

Inventories	12 Months Ended
Inventories	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventories	Note 3 Inventories Inventories, as of December 31, 2022 and December 25, 2021, were valued as follows: (amounts in thousands) 2022 2021 LIFO $ 192,984 $ 178,520 Average cost 100,290 91,067 Total $ 293,274 $ 269,587 Management believes the use of the LIFO method for valuing certain inventories represents the most appropriate matching of costs and revenues in the Company’s circumstances. If all inventories were valued on the average cost method, which approximates current cost, total inventories would have been $103.6 million and $74.5 million higher than as reported on the above methods as of December 31, 2022 and December 25, 2021, respectively. During 2021 the Company had certain decrements in its LIFO pools, which had an insignificant impact on the cost of sales.

Property and Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 4 Property and Equipment Property and equipment, as of December 31, 2022 and December 25, 2021, consisted of: Useful Life (amounts in thousands) (in years) 2022 2021 Land $ 137,132 $ 136,486 Buildings and improvements 10 - 60 828,407 815,108 Equipment 3 - 12 1,313,676 1,225,296 Leasehold improvements 5 - 20 233,300 244,250 Total, at cost 2,512,515 2,421,140 Less accumulated depreciation and amortization 1,541,602 1,443,353 Total $ 970,913 $ 977,787

Lease Commitments

Lease Commitments	12 Months Ended
Lease Commitments	Dec. 31, 2022
Leases [Abstract]
Lease Commitments	Note 5 Lease Commitments The following is a schedule of the lease costs included in “Operating, general and administrative expenses” for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020. 53 Weeks Ended 52 Weeks Ended (amounts in thousands) December 31, 2022 December 25, 2021 December 26, 2020 Operating lease cost $ 48,289 $ 45,435 $ 46,283 Variable lease cost 11,221 10,875 11,167 Lease or sublease income (9,744) (10,055) (8,636) Net lease cost $ 49,766 $ 46,255 $ 48,814 The following is a schedule by year of the future minimum rental payments required under operating leases and total minimum sublease and lease rental income to be received as of December 31, 2022. (amounts in thousands) Leases Subleases 2023 $ 48,090 (4,363) 2024 42,838 (3,504) 2025 35,116 (2,925) 2026 26,841 (2,166) 2027 19,005 (1,721) Thereafter 36,677 (4,902) Total Lease Payments $ 208,567 (19,581) Less: Interest 22,616 — Present value of lease liabilities 185,951 (19,581) The following is a schedule of weighted-average remaining lease terms and weighted-average discount rates as of December 31, 2022, December 25, 2021, and December 26, 2020. Lease Term and Discount Rate December 31, 2022 December 25, 2021 December 26, 2020 Weighted-average remaining lease term 3.85 4.11 4.06 Weighted-average discount rate 2.81% 2.73% 3.36% The following is a schedule of supplemental cash flow information related to leases as of December 31, 2022, December 25, 2021, and December 26, 2020. (amounts in thousands) December 31, 2022 December 25, 2021 December 26, 2020 Cash paid for amounts included in the measurement of operating lease liabilities 48,744 47,799 48,045 Right of use assets obtained in exchange for operating lease liabilities 27,364 31,663 28,758

Retirement Plans

Retirement Plans	12 Months Ended
Retirement Plans	Dec. 31, 2022
Retirement Plans [Abstract]
Retirement Plans	Note 6 Retirement Plans The following is a schedule of the retirement plan costs for the fiscal years ended December 31, 2022, December 25, 2021 and December 26, 2020. (amounts in thousands) 2022 2021 2020 Retirement savings plan 5,155 3,692 2,249 Profit Sharing — 2,450 2,700 Deferred compensation plan 815 810 806 Supplemental executive retirement plan 709 703 463 Total $ 6,679 $ 7,655 $ 6,218 The Company has a qualified retirement savings plan, the Weis Markets, Inc. Retirement Savings Plan, covering substantially all associates. Employer contributions are made at the sole discretion of the Company. Prior to 2022, employer contributions consisted of a noncontributory profit-sharing component to a limited number of associates and a contributory component equal to $0.25 for every dollar that all eligible associates contributed to the plan, up to 6% of their eligible pay. In 2022, the plan was adjusted to benefit more associates by eliminating the noncontributory profit-sharing component and increasing the contributory component to $0.50 for every dollar that all eligible associates contributed to the plan, up to 6% of their eligible pay. The Company maintains a non-qualified deferred compensation plan for the payment of specific amounts of annual retirement benefits to certain officers or their beneficiaries over an actuarially computed normal life expectancy. Currently, there are no active officers in the plan. The expected payments under the plan provisions were determined through actuarial calculations dependent on the age of the recipient, using an assumed discount rate. The plan is unfunded and accounted for on an accrual basis. The recorded liability at December 31, 2022 is $3.6 million which is based on expected payments to be made over the remaining lives of the beneficiaries. This amount is included in “Accrued expenses” and “Postretirement benefit obligations” in the Consolidated Balance Sheets. The expected payment amounts are approximately $1.0 million for 2023 and for the years thereafter dependent on the lives of the beneficiaries. The Company also maintains a non-qualified supplemental executive retirement plan covering highly compensated associates. This plan is designed to provide retirement benefits and salary deferral opportunities because of limitations imposed by the Internal Revenue Code and the Regulations implemented by the Internal Revenue Service. This plan is unfunded and accounted for on an accrual basis. Plan participants are 100% vested in their accounts after three years of service with the Company. Benefits are distributed among participants upon termination or retirement. Substantial risk of benefit forfeiture does exist for participants in this plan. The present value of accumulated benefits amounted to $22.7 million and $27.2 million at December 31, 2022 and December 25, 2021, respectively, and is included in “Postretirement benefit obligations” in the Consolidated Balance Sheets.

Revenue Recognition

Revenue Recognition	12 Months Ended
Revenue Recognition	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 7 Revenue Recognition The Chief Operating Officer, the Company’s chief operating decision maker, analyzed store operational revenues by geographical area but each area offers customers similar product, has similar distribution methods, and supported by centralized management processes. The Company’s operations are reported as a single reportable segment. The following table represents net sales by product category for years ending December 31, 2022, December 25, 2021 and December 26, 2020. 53 Weeks Ended 52 Weeks Ended ( amounts in thousands December 31, 2022 December 25, 2021 December 26, 2020 Grocery $ 3,978,397 84.7 % $ 3,633,023 86.1 % $ 3,627,898 88.2 % Pharmacy 441,840 9.4 399,128 9.4 356,630 8.7 Fuel 263,265 5.6 183,631 4.3 117,800 2.9 Manufacturing 12,441 0.3 8,635 0.2 10,273 0.2 Total net sales $ 4,695,943 100.0 % $ 4,224,417 100.0 % $ 4,112,601 100.0 %

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
Accumulated Other Comprehensive Income	Dec. 31, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income	Note 8 Accumulated Other Comprehensive Income All balances in accumulated other comprehensive income are related to available-for-sale marketable securities. The following table sets forth the balance of the Company’s accumulated other comprehensive income, net of tax. Unrealized Gains (Losses) on Available-for-Sale (amounts in thousands) Marketable Securities Accumulated other comprehensive income (loss) balance as of December 26, 2020 $ 3,286 Other comprehensive income (loss) (1,599) Net current period other comprehensive income (loss) (1,599) Accumulated other comprehensive income (loss) balance as of December 25, 2021 $ 1,687 Other comprehensive income (loss) (8,135) Net current period other comprehensive income (loss) (8,135) Accumulated other comprehensive income (loss) balance as of December 31, 2022 $ (6,449)

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2022
Income Taxes
Income Taxes	Note 9 Income Taxes (amounts in thousands) 2022 2021 2020 Current: Federal $ 28,536 $ 20,771 $ 29,121 State 7,896 6,374 9,984 Deferred: Federal 3,191 8,074 4,090 State (4,042) 4,239 1,567 Total $ 35,581 $ 39,458 $ 44,762 The reconciliation of income taxes has been computed at the federal statutory rate of 21% in 2022, 2021 and 2020. Ending deferred tax liability has been computed at the federal statutory rate of 21%. (amounts in thousands) 2022 2021 2020 Income taxes at federal statutory rate $ 33,763 $ 31,144 $ 34,373 State income taxes, net of federal income tax benefit 4,700 6,207 7,261 Nondeductible employee-related expenses 2,235 2,530 2,223 State deferred rate change (5,462) — - Other 345 (423) 905 Provision for income taxes $ 35,581 $ 39,458 $ 44,762 The effective income tax rate was 22.1%, 26.6% and 27.3% in 2022, 2021, and 2020, respectively. The effective income tax rate differs from the federal statutory rate of 21% primarily due to state taxes as well as nondeductible employee-related expenses. The Company reduced its provision for income taxes by $5.5 million in 2022 primarily due to the effects of Pennsylvania House Bill 1342 which was enacted on July 8, 2022. The bill made significant changes to the Commonwealth’s corporate income tax laws which included lowering the tax rate gradually from 9.99% in 2022 to 4.99% in 2031, updating market sourcing rules, and codifying the economic nexus standard. Cash paid for federal income taxes was $29.4 million, $20.4 million $33.5 million and in 2022, 2021 and 2020 respectively. Cash paid for state income taxes was $8.0 million, $4.4 million and $8.8 million in 2022, 2021 and 2020 respectively. Note 9 Income Taxes (continued) The tax effects of temporary differences that give rise to deferred tax assets and deferred tax liabilities at December 31, 2022 and December 25, 2021, are: (amounts in thousands) 2022 2021 Deferred tax assets: Accounts receivable $ 1,195 $ 951 Employment incentives 6,329 6,886 Self-insurance liability 8,717 9,324 Postretirement benefit obligations 5,963 7,412 Net operating loss and credit carryforwards 5,009 6,202 Unrecognized tax benefits 2,869 2,108 Other 1,101 1,830 Total deferred tax assets 31,183 34,713 Deferred tax liabilities: Inventories (13,398) (16,038) Unrealized gains on marketable securities 1,280 (2,177) Prepaids (5,570) (6,365) Depreciation (124,720) (125,220) Total deferred tax liabilities (142,408) (149,800) Net deferred tax liability $ (111,225) $ (115,087) The following table summarizes the activity related to the Company’s unrecognized tax benefits: (amounts in thousands) 2022 2021 Unrecognized tax benefits at beginning of year $ 10,036 $ 8,337 Increases based on tax positions related to the current year 2,376 1,699 Additions for tax positions of prior year 1,249 — Reductions for tax positions of prior years — — Settlements — — Expiration of the statute of limitations for assessment of taxes — — Unrecognized tax benefits at end of year $ 13,661 $ 10,036 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $3.6 million in 2022, $1.7 million in 2021 and $1.7 million in 2020. The Company or one of its subsidiaries files tax returns in the United States and various state jurisdictions. The tax years subject to examination in the United States and in Pennsylvania, where the majority of the Company’s revenues are generated, are 2016 to 2022. The Company has net operating loss carryforwards of $46 million available for state income tax purposes. The net operating losses will begin to expire starting in 2027. The Company expects to fully utilize these net operating loss carryforwards.

Fair Value Information

Fair Value Information	12 Months Ended
Fair Value Information	Dec. 31, 2022
Fair Value Information [Abstract]
Fair Value Information	Note 10 Fair Value Information The carrying amounts for cash, accounts receivable and accounts payable approximate fair value because of the short maturities of these instruments. The fair values of the Company’s marketable securities, as disclosed in Note 2, are based on quoted market prices and institutional pricing guidelines for those securities not classified as Level 1 securities. The Company’s SERP investments are classified as trading securities and are carried at fair value using Level 1 inputs.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies [Abstract]
Commitments and Contingencies	Note 11 Commitments and Contingencies The Company is involved in various legal actions arising out of the normal course of business. The Company also accrues for contingencies when it is probable that a liability has been incurred and the amount of the contingency can be reasonably estimated, based on experience. In the opinion of management, the ultimate disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations, and liquidity.

Long-Term Debt

Long-Term Debt	12 Months Ended
Long-Term Debt	Dec. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Note 12 Long-Term Debt On September 1, 2016 Weis Markets entered into a revolving credit agreement with Wells Fargo Bank, N.A. (the “Credit Agreement”), which was amended on September 29, 2021 and matures on September 1, 2024. The Credit Agreement provides for an unsecured revolving credit facility with an aggregate principal amount not to exceed $30.0 million with an additional discretionary amount available of $70.0 million. As of December 31, 2022, the availability under the revolving credit agreement was $25.5 million with $4.5 million of letters of credit outstanding. The letters of credit are maintained primarily to support performance, payment, deposit or surety obligations of the Company. The Company has not had an obligation on the Credit Agreement since the second quarter of 2018. Interest expense related to long-term debt was $32 thousand, $32 thousand and $35 thousand for 2022, 2021 and 2020, respectively.

COVID-19

COVID-19	12 Months Ended
COVID-19	Dec. 31, 2022
Unusual or Infrequent Items, or Both [Abstract]
COVID-19	Note 13 COVID-19 In March 2020, the federal government declared a national state of emergency for the COVID-19 novel coronavirus pandemic and state governments in the Company’s geographic operating area began instituting preventative shut down measures in order to combat the pandemic. The coronavirus and actions taken to mitigate the spread of it had an adverse impact on the economies and financial markets of the geographical area in which the Company operates. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted to amongst other provisions, provide emergency assistance for individuals, families and businesses affected by the novel coronavirus pandemic. The Company’s business being deemed essential resulted in incremental financial performance that may not have been indicative of future financial results and there remains uncertainty and increased risks concerning its employees, customers, supply chain and government regulation.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Dec. 31, 2022
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Item 15(c)(3). Financial Statement Schedules: Schedule II - Valuation and Qualifying Accounts: SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS WEIS MARKETS, INC. (amounts in thousands) Col. A Col. B Col. C Col. D Col. E Additions Balance at Charged to Charged to Balance at Beginning Costs and Accounts Deductions End of Description of Period Expenses Describe Describe (1) Period Fiscal Year ended December 31, 2022: Deducted from asset accounts: Allowance for uncollectible accounts $ 3,451 $ 2,489 $ — $ 1,363 $ 4,577 Fiscal Year ended December 25, 2021: Deducted from asset accounts: Allowance for uncollectible accounts $ 2,427 $ 2,986 $ — $ 1,962 $ 3,451 Fiscal Year ended December 26, 2020: Deducted from asset accounts: Allowance for uncollectible accounts $ 2,757 $ 1,556 $ — $ 1,886 $ 2,427 (1) Deductions are uncollectible accounts written off, net of recoveries.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Description of Business	(a) Description of Business Weis Markets, Inc. is a Pennsylvania business corporation founded in 1912 and incorporated in 1924. The Company is engaged principally in the retail sale of food in Pennsylvania and surrounding states. The Company’s operations are reported as a single reportable segment. There was no material change in the nature of the Company’s business during fiscal 2022.
Definition of Fiscal Year	(b) Definition of Fiscal Year The Company’s fiscal year ends on the last Saturday in December. Fiscal 2022 was comprised of 53 weeks, ending on December 31, 2022. Fiscal 2021 was comprised of 52 weeks, ending on December 25, 2021. Fiscal 2020 was comprised of 52 weeks, ending on December 26, 2020. References to years in this Annual Report relate to fiscal years.
Principles of Consolidation	(c) Principles of Consolidation The Consolidated Financial Statements include the accounts of the Company and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Use of Estimates	(d) Use of Estimates Management of the Company has made a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities to prepare these Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America. Actual results could differ from those estimates.
Cash and Cash Equivalents	(e) Cash and Cash Equivalents The Company maintains its cash balances in the form of core checking accounts and money market accounts. The Company maintains cash deposits with banks that at times exceed applicable insurance limits. The Company reduces its exposure to credit risk by maintaining such deposits with high quality financial institutions that management believes are creditworthy. The Company considers investments with an original maturity of three months or less to be cash equivalents. Investment amounts classified as cash equivalents as of December 31, 2022 and December 25, 2021 totaled $80.5 million and $692 thousand, respectively. Consumer electronic payments accepted at the point of sale, including all credit card, debit card and electronic benefits transfer transactions that process in three days or less are classified as cash equivalents. Consumer electronic payment amounts classified as cash equivalents as of December 31, 2022 and December 25, 2021 totaled $42.9 million and $38.6 million, respectively.
Marketable Securities	(f) Marketable Securities Marketable securities consist of corporate and municipal bonds, commercial paper and equity securities. The Company invests primarily in high-grade marketable debt securities. The Company classifies all of its marketable securities as available-for-sale. Available-for-sale securities are recorded at fair value as determined by quoted market price based on national markets. To determine fair value the Company utilizes standard pricing procedures of its investment advisory firm(s), which include various third-party pricing services. If the cost of an investment exceeds its fair value, the Company evaluates general market conditions, credit quality of debt instrument issuers, and the extent to which the fair value is less than cost. Unrealized holding gains and losses, net of the related tax effect, on corporate and municipal bonds and commercial paper are excluded from earnings and are reported as a separate component of shareholders’ equity until realized. Unrealized holding gains and losses on equity securities are recorded in investment income (loss) and interest expense. Dividend and interest income is recognized when earned. Realized gains and losses are included in earnings and are derived using the specific identification method for determining the cost of securities. Investment amounts classified as marketable securities as of December 31, 2022 and December 25, 2021 totaled $186.4 million and $205.7 million, respectively. Equity securities are measured at fair value and the unrealized holding gains and losses are recorded in investment income (loss) and interest expense. The Company recognized a $1.3 million loss in 2022 and a $900 thousand loss in 2021.
Accounts Receivable	(g) Accounts Receivable Accounts receivable are stated net of an allowance for uncollectible accounts of $4.6 million and $3.4 million as of December 31, 2022 and December 25, 2021, respectively. The reserve balance relates to amounts due from pharmacy third party providers, retail customer returned checks, manufacturing customers, vendors and tenants. The Company maintains an allowance for the amount of receivables deemed to be uncollectible and calculates this amount based upon historical collection activity adjusted for current conditions.
Inventories	(h) Inventories Inventories are valued at the lower of cost or net realizable value, using both the retail inventory and average cost methods. The retail inventory method is commonly used by retail companies to determine cost and calculate gross margin based on applying a cost-to-retail ratio to each similar merchandise category’s ending retail value. The Company’s center store and pharmacy inventories are valued using last in, first out (LIFO). The Company’s fresh inventories are valued using average cost. The Company evaluates inventory shortages throughout the year based on actual physical counts in its facilities. Allowances for inventory shortages are recorded based on the results of these counts and to provide for estimated shortages from the last physical count to the financial statement date.
Property and Equipment	(i) Property and Equipment Property and equipment are recorded at cost. Depreciation is provided on the cost of buildings and improvements and equipment using the straight-line method. Leasehold improvements are amortized using the straight-line method over the terms of the leases or the useful lives of the assets, whichever is shorter. Maintenance and repairs are expensed and renewals and betterments are capitalized. When assets are retired or otherwise disposed of, the assets and accumulated depreciation are removed from the respective accounts and any profit or loss on the disposition is credited or charged to “Operating, general and administrative expenses.”
Leases	(j) Leases The Company leases approximately 49% of its open store facilities under operating leases that expire at various dates through 2036, with the remaining store facilities being owned. These leases generally provide for fixed annual rentals; however, several provide for minimum annual rentals plus variable lease costs related to real estate taxes and insurance as well as contingent rentals based on a percentage of annual sales or increases periodically based on inflation. These variable lease costs are not included in the measurement of the operating lease right-to-use assets or lease liabilities and are charged to the related expense category included in “Operating, general and administrative expenses.” Most of the leases contain multiple renewal options, under which the Company may extend the lease terms from
Goodwill and Intangible Assets	(k) Goodwill and Intangible Assets Goodwill is not amortized but tested for impairment on an annual basis and between annual tests when indicators of impairment are identified. Intangible assets with an indefinite useful life are not amortized until their useful life is determined to be no longer indefinite and are tested for impairment annually or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company’s intangible assets and related accumulated amortization at December 31, 2022 and December 25, 2021 consisted of the following: December 31, 2022 December 25, 2021 Accumulated Accumulated (amounts in thousands) Gross Amortization Net Gross Amortization Net Liquor licenses $ 15,899 $ — $ 15,899 $ 15,240 $ — $ 15,240 Asset acquisitions and other 2,566 1,433 1,133 5,083 3,788 1,295 Total $ 18,465 $ 1,433 $ 17,032 $ 20,323 $ 3,788 $ 16,535 Intangible assets with a definite useful life are generally amortized on a straight-line basis over periods up to 10 years for customer lists. Estimated amortization expense for the next five fiscal years is approximately $326 thousand in 2023, $326 thousand in 2024, $163 thousand in 2025, $156 thousand in 2026 and $66 thousand in 2027. As of December 31, 2022, the Company’s intangible assets with indefinite lives consisted of goodwill and liquor licenses.
Impairment of Long-Lived Assets	(l) Impairment of Long-Lived Assets The Company periodically evaluates the period of depreciation or amortization for long-lived assets to determine whether current circumstances warrant revised estimates of useful lives. The Company completes an impairment test annually. The Company also reviews its property and equipment for impairment whenever events or changes in circumstances indicate the carrying value of an asset may not be recoverable. Recoverability is measured by a comparison of the carrying amount to the net undiscounted cash flows expected to be generated by the asset. An impairment loss would be recorded for the excess of net book value over the fair value of the asset impaired. The fair value is estimated based on current market values or expected discounted future cash flows. With respect to owned property and equipment associated with closed stores, the value of the property and equipment would be adjusted to reflect recoverable values if current economic conditions and estimated fair values of the property was less than the net book value. In accordance with Accounting Standards Codification No. 360, Property, Plant and Equipment Note 1 Summary of Significant Accounting Policies (continued) (l) Impairment of Long-Lived Assets (continued) The results of impairment tests are subject to management’s estimates and assumptions of projected cash flows and operating results. The Company believes that, based on current conditions, materially different reported results are not likely to result from long-lived asset impairments. However, a change in assumptions or market conditions could result in a change in estimated future cash flows and the likelihood of materially different reported results.
Self-Insurance	(m) Self-Insurance The Company is self-insured for a majority of its workers’ compensation, general liability, vehicle accident and associate medical benefit claims. The self-insurance liability for most of the medical benefit claims is determined based on historical data and an estimate of claims incurred but not reported. The other self-insurance liabilities including workers’ compensation are determined actuarially, based on claims filed and an estimate of claims incurred but not yet reported. The Company is self-insured for certain healthcare claims and stop-loss coverage is maintained for individual annual claim occurrences exceeding a $500 thousand specific deductible. The Company is liable for workers’ compensation claims ranging from $1.0 million to $2.0 million per claim. Property and casualty insurance coverage is maintained with outside carriers at deductible or retention levels ranging from $100 thousand to $1.0 million. Significant assumptions used in the development of the actuarial estimates include reliance on the Company’s historical claims data including average monthly claims and average lag time between incurrence and reporting of the claim.
Income Taxes	(n) Income Taxes The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The Company reviews the tax positions taken or expected to be taken on tax returns to determine whether and to what extent a benefit can be recognized in the Consolidated Financial Statements. Refer to Note 9 to the Consolidated Financial Statements for the amount of unrecognized tax benefits and other disclosures related to uncertain tax positions. To the extent interest and penalties would be assessed by taxing authorities on any underpayment of income tax, such amounts are accrued and classified as a component of income tax expense.
Earnings Per Share	(o) Earnings Per Share Earnings per share are based on the weighted-average number of common shares outstanding.
Revenue Recognition	(p) Revenue Recognition Revenue from the sale of products to the Company’s customers is recognized at the point of sale. Discounts provided to customers at the point of sale through the Weis Club Preferred Shopper loyalty program are recognized as a reduction in sales as products are sold. Periodically, the Company will run a point-based sales incentive program that rewards customers with future sales discounts. The Company makes reasonable and reliable estimates of the amount of future discounts based upon historical experience and its customer data tracking software. Sales are reduced rationally and systematically by these estimates over the life of the program. Discounts to customers at the point of sale provided by vendors, usually in the form of paper coupons, are not recognized as a reduction in sales provided the discounts are redeemable at any retailer that accepts those discounts. The Company records “Deferred revenue” for the sale of gift cards and revenue is recognized in “Net sales” at the time of customer redemption for products. Gift card breakage income is recognized in “Operating, general and administrative expenses” based upon historical redemption patterns and represents the balance of gift cards for which the Company believes the likelihood of redemption by the customer is remote. Sales tax is excluded from “Net sales.” The Company charges sales tax on all taxable customer purchases and remits these taxes monthly to the appropriate taxing jurisdiction. Merchandise return activity is immaterial to revenues due to products being returned quickly and the relatively low unit cost.
Cost of Sales, Including Advertising, Warehousing and Distribution Expenses	(q) Cost of Sales, Including Advertising, Warehousing and Distribution Expenses “Cost of sales, including advertising, warehousing and distribution expenses” consists of direct product costs (net of discounts and allowances), advertising (net of vendor paid cooperative advertising credits), distribution center and transportation costs, as well as manufacturing facility operations. Advertising costs, net of vendor paid cooperative advertising credits, are expensed as incurred which are primarily funded by vendor cooperative advertising credits and occur in the same period as the product is sold.
Vendor Allowances	(r) Vendor Allowances Vendor allowances related to the Company’s buying and merchandising activities are recorded as a reduction of cost of sales as they are earned, in accordance with the underlying agreement. Off-invoice and bill-back allowances are used to reduce direct product costs upon the receipt of goods. Promotional rebates and credits are accounted for as a reduction in the cost of inventory and recognized when the related inventory is sold. Volume incentive discounts are accounted for as a reduction of cost of sales and realized using estimated amounts at the time it is deemed probable that the incentive target will be reached. Long-term contract incentives, which require an exclusive vendor relationship, are allocated over the life of the contract. Promotional allowance funds for specific vendor-sponsored programs are recognized as a reduction of cost of sales as the program occurs and the funds are earned per the agreement. Cash discounts for prompt payment of invoices are realized in cost of sales as invoices are paid. Warehouse and back-haul allowances provided by suppliers for distributing their product through the Company’s distribution system are recorded in cost of sales offsetting costs incurred. Warehouse slotting allowances are recorded in cost of sales when new items are initially set up in the Company’s distribution system, which is when the related expenses are incurred and performance under the agreement is complete. Swell allowances for damaged goods are realized in cost of sales as provided by the supplier, helping to offset product shrink losses also recorded in cost of sales. Vendor allowances recorded as credits in cost of sales totaled $120.0 million in 2022, $100.1 million in 2021 and $133.5 million in 2020. Vendor paid cooperative advertising credits totaled $2.9 million in 2022, $3.4 million in 2021 and $21.7 million in 2020. These credits were netted against advertising costs within “Cost of Sales, including Advertising, Warehousing and Distribution expenses.” The Company had accounts receivable due from vendors of
Operating, General and Administrative Expenses	(s) Operating, General and Administrative Expenses Business operating costs including expenses generated from administration and purchasing functions, are recorded in “Operating, general and administrative expenses” in the Consolidated Statements of Income. Business operating costs include items such as wages, benefits, utilities, repairs and maintenance, rent, insurance, depreciation, leasehold amortization and costs for outside provided services.
Advertising Costs	(t) Advertising Costs The Company expenses advertising costs as incurred. The Company recorded advertising expense, before vendor paid cooperative advertising credits, of $23.7 million in 2022, $24.9 million in 2021 and $24.5 million in 2020 in “Cost of Sales, including Advertising, Warehousing and Distribution Expenses.”
Rental and Commission Income	(u) Rental and Commission Income The Company leases or subleases space to tenants in owned, vacated and open store facilities. Rental income is recorded when earned as a component of “Operating, general and administrative expenses.” All leases are operating leases. Refer to Note 5 to the Consolidated Financial Statements for further disclosure on operating leases and rental income. The Company provides a variety of services to its customers, including but not limited to lottery, money orders, third-party gift cards, and third-party bill pay services. Commission income earned from these services are recorded when earned as a component of “Operating, general and administrative expenses.” The Company recorded commission income of
Current Relevant Accounting Standards	(v) Current Relevant Accounting Standards The Company regularly monitors recently issued accounting standards and assesses their applicability and impact. The Company believes that there are no accounting standard updates that have or will have a material or significant impact on the Company’s accounting policies.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets	December 31, 2022 December 25, 2021 Accumulated Accumulated (amounts in thousands) Gross Amortization Net Gross Amortization Net Liquor licenses $ 15,899 $ — $ 15,899 $ 15,240 $ — $ 15,240 Asset acquisitions and other 2,566 1,433 1,133 5,083 3,788 1,295 Total $ 18,465 $ 1,433 $ 17,032 $ 20,323 $ 3,788 $ 16,535

Marketable Securities (Tables)

Marketable Securities (Tables)	12 Months Ended
Marketable Securities (Tables)	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule Of Marketable Securities	Gross Gross (amounts in thousands) Amortized Unrealized Unrealized Fair December 31, 2022 Cost Holding Gains Holding Losses Value Available-for-sale: Level 1 Equity securities $ 5,185 Level 2 Corporate and municipal bonds $ 190,025 $ 2,110 $ (10,901) 181,234 Total $ 190,025 $ 2,110 $ (10,901) $ 186,419 Gross Gross (amounts in thousands) Amortized Unrealized Unrealized Fair December 25, 2021 Cost Holding Gains Holding Losses Value Available-for-sale: Level 1 Equity securities $ 6,509 Level 2 Corporate and municipal bonds $ 151,947 $ 4,753 $ (2,384) 154,315 Commercial paper 44,931 2 (13) 44,920 Total $ 196,878 $ 4,755 $ (2,397) $ 205,744
Schedule Of Maturities Of Marketable Securities	Amortized Fair (amounts in thousands) Cost Value Available-for-sale: Due within one year $ 50,645 $ 48,635 Due after one year through five years 86,011 82,959 Due after five years through ten years 29,923 26,843 Due after ten years 23,446 22,797 Total $ 190,025 $ 181,234

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 31, 2022
Inventory Disclosure [Abstract]
Merchandise Inventories	(amounts in thousands) 2022 2021 LIFO $ 192,984 $ 178,520 Average cost 100,290 91,067 Total $ 293,274 $ 269,587

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
Property and Equipment (Tables)	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule Of Property, Plant And Equipment	Useful Life (amounts in thousands) (in years) 2022 2021 Land $ 137,132 $ 136,486 Buildings and improvements 10 - 60 828,407 815,108 Equipment 3 - 12 1,313,676 1,225,296 Leasehold improvements 5 - 20 233,300 244,250 Total, at cost 2,512,515 2,421,140 Less accumulated depreciation and amortization 1,541,602 1,443,353 Total $ 970,913 $ 977,787

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
Lease Commitments (Tables)	Dec. 31, 2022
Leases [Abstract]
Schedule of Lease Costs	53 Weeks Ended 52 Weeks Ended (amounts in thousands) December 31, 2022 December 25, 2021 December 26, 2020 Operating lease cost $ 48,289 $ 45,435 $ 46,283 Variable lease cost 11,221 10,875 11,167 Lease or sublease income (9,744) (10,055) (8,636) Net lease cost $ 49,766 $ 46,255 $ 48,814
Schedule of Future Minimum Rental Payments	(amounts in thousands) Leases Subleases 2023 $ 48,090 (4,363) 2024 42,838 (3,504) 2025 35,116 (2,925) 2026 26,841 (2,166) 2027 19,005 (1,721) Thereafter 36,677 (4,902) Total Lease Payments $ 208,567 (19,581) Less: Interest 22,616 — Present value of lease liabilities 185,951 (19,581)
Schedule of weighted-average remaining lease terms and weighted-average discount rates	Lease Term and Discount Rate December 31, 2022 December 25, 2021 December 26, 2020 Weighted-average remaining lease term 3.85 4.11 4.06 Weighted-average discount rate 2.81% 2.73% 3.36%
Schedule of supplemental cash flow information related to leases	(amounts in thousands) December 31, 2022 December 25, 2021 December 26, 2020 Cash paid for amounts included in the measurement of operating lease liabilities 48,744 47,799 48,045 Right of use assets obtained in exchange for operating lease liabilities 27,364 31,663 28,758

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
Retirement Plans (Tables)	Dec. 31, 2022
Retirement Plans [Abstract]
Schedule of Costs of Retirement Plans	(amounts in thousands) 2022 2021 2020 Retirement savings plan 5,155 3,692 2,249 Profit Sharing — 2,450 2,700 Deferred compensation plan 815 810 806 Supplemental executive retirement plan 709 703 463 Total $ 6,679 $ 7,655 $ 6,218

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
Revenue Recognition (Tables)	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule Of Sales By Type Of Product	53 Weeks Ended 52 Weeks Ended ( amounts in thousands December 31, 2022 December 25, 2021 December 26, 2020 Grocery $ 3,978,397 84.7 % $ 3,633,023 86.1 % $ 3,627,898 88.2 % Pharmacy 441,840 9.4 399,128 9.4 356,630 8.7 Fuel 263,265 5.6 183,631 4.3 117,800 2.9 Manufacturing 12,441 0.3 8,635 0.2 10,273 0.2 Total net sales $ 4,695,943 100.0 % $ 4,224,417 100.0 % $ 4,112,601 100.0 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
Accumulated Other Comprehensive Income (Tables)	Dec. 31, 2022
Equity [Abstract]
Schedule Of Accumulated Other Comprehensive Income	Unrealized Gains (Losses) on Available-for-Sale (amounts in thousands) Marketable Securities Accumulated other comprehensive income (loss) balance as of December 26, 2020 $ 3,286 Other comprehensive income (loss) (1,599) Net current period other comprehensive income (loss) (1,599) Accumulated other comprehensive income (loss) balance as of December 25, 2021 $ 1,687 Other comprehensive income (loss) (8,135) Net current period other comprehensive income (loss) (8,135) Accumulated other comprehensive income (loss) balance as of December 31, 2022 $ (6,449)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 31, 2022
Income Taxes
Schedule of Components of Income Tax Expense (Benefit)	(amounts in thousands) 2022 2021 2020 Current: Federal $ 28,536 $ 20,771 $ 29,121 State 7,896 6,374 9,984 Deferred: Federal 3,191 8,074 4,090 State (4,042) 4,239 1,567 Total $ 35,581 $ 39,458 $ 44,762
Schedule of Effective Income Tax Rate Reconciliation	(amounts in thousands) 2022 2021 2020 Income taxes at federal statutory rate $ 33,763 $ 31,144 $ 34,373 State income taxes, net of federal income tax benefit 4,700 6,207 7,261 Nondeductible employee-related expenses 2,235 2,530 2,223 State deferred rate change (5,462) — - Other 345 (423) 905 Provision for income taxes $ 35,581 $ 39,458 $ 44,762
Schedule of Deferred Tax Assets and Liabilities	(amounts in thousands) 2022 2021 Deferred tax assets: Accounts receivable $ 1,195 $ 951 Employment incentives 6,329 6,886 Self-insurance liability 8,717 9,324 Postretirement benefit obligations 5,963 7,412 Net operating loss and credit carryforwards 5,009 6,202 Unrecognized tax benefits 2,869 2,108 Other 1,101 1,830 Total deferred tax assets 31,183 34,713 Deferred tax liabilities: Inventories (13,398) (16,038) Unrealized gains on marketable securities 1,280 (2,177) Prepaids (5,570) (6,365) Depreciation (124,720) (125,220) Total deferred tax liabilities (142,408) (149,800) Net deferred tax liability $ (111,225) $ (115,087)
Schedule of Unrecognized Tax Benefits	(amounts in thousands) 2022 2021 Unrecognized tax benefits at beginning of year $ 10,036 $ 8,337 Increases based on tax positions related to the current year 2,376 1,699 Additions for tax positions of prior year 1,249 — Reductions for tax positions of prior years — — Settlements — — Expiration of the statute of limitations for assessment of taxes — — Unrecognized tax benefits at end of year $ 13,661 $ 10,036

Summary of Significant Accoun_2

Summary of Significant Accounting Policies - Description of Business (Details) - segment	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments	1	1	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Definition of Fiscal Year (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Accounting Policies [Abstract]
Fiscal Period Duration	371 days	364 days	364 days

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021
Investments [Member]
Cash Equivalents, at Carrying Value [Abstract]
Cash equivalents	$ 80.5	$ 692
Consumer Electronic Payments [Member]
Cash Equivalents, at Carrying Value [Abstract]
Cash equivalents	$ 42.9	$ 38.6

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Marketable Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Marketable Securities [Abstract]
Marketable securities	$ 186,419	$ 205,744
Equity Securities, FV-NI, Unrealized Gain (Loss) [Abstract]
Unrealized gain (loss) on equity securities	$ (1,325)	$ (900)	$ (1,791)

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021
Accounts Receivable, after Allowance for Credit Loss [Abstract]
Accounts Receivable, Allowance for Credit Loss	$ 4.6	$ 3.4

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Leases (Details)	Dec. 31, 2022
Lessee, Operating Lease, Description [Abstract]
Percentage of facilities under operating leases	49%
Maximum [Member]
Lessee, Operating Lease, Description [Abstract]
Lease renewal term	20 years
Minimum [Member]
Lessee, Operating Lease, Description [Abstract]
Lease renewal term	5 years

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Goodwill and Intangible Assets - Tabular Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Indefinite-lived Intangible Assets (Excluding Goodwill)	$ 15,899	$ 15,240
Finite-Lived Intangible Assets, Net [Abstract]
Finite-Lived Intangible Assets, Gross	2,566	5,083
Finite-Lived Intangible Assets, Accumulated Amortization	1,433	3,788
Finite-Lived Intangible Assets, Net	1,133	1,295
Intangible Assets, Gross (Excluding Goodwill)	18,465	20,323
Intangible Assets, Net (Excluding Goodwill), Total	$ 17,032	$ 16,535

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Goodwill and Intangible Assets - Useful Lives (Details)	12 Months Ended
	Dec. 31, 2022
Customer Lists [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Goodwill and Intangible Assets - Estimated Amortization Expense (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 326
2024	326
2025	163
2026	156
2027	$ 66

Summary of Significant Accou_11

Summary of Significant Accounting Policies - Self-Insurance (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Self Insurance, Annual Maximum of Health Claims Liability per Associate	$ 500
Self Insurance, Maximum of Workers Compensation Claims Liability Per Associate Per Claim, Low End of Range	1,000
Self Insurance, Maximum of Workers Compensation Claims Liability Per Associate Per Claim, High End of Range	2,000
Property and Casualty Insurance, Deductible, Low End of Range	100
Property and Casualty Insurance, Deductible, High End of Range	$ 1,000

Summary of Significant Accou_12

Summary of Significant Accounting Policies - Vendor Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Accounting Policies [Abstract]
Cost of Goods Sold, Vendor Allowances	$ 120,000	$ 100,100	$ 133,500
Vendor Paid Cooperative Advertising Credits	2,900	3,400	$ 21,700
Accounts Receivable, Earned Advertising Credits	617	585
Accounts Receivable, Earned Promotional Discounts	3,500	3,600
Unearned Income for Vendor Programs	$ 3,300	$ 2,500

Summary of Significant Accou_13

Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Marketing and Advertising Expense [Abstract]
Advertising expense	$ 23.7	$ 24.9	$ 24.5

Summary of Significant Accou_14

Summary of Significant Accounting Policies - Rental and Commission Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Accounting Policies [Abstract]
Commission income	$ 18	$ 18.9	$ 17.7

Marketable Securities - Investm

Marketable Securities - Investment Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Investment Income, Net [Abstract]
Investment income (loss)	$ 3,800	$ 1,600	$ 536,000
Equity Securities, FV-NI, Unrealized Gain (Loss) [Abstract]
Unrealized gain (loss) on equity securities	$ (1,325)	$ (900)	$ (1,791)

Marketable Securities - Fair Va

Marketable Securities - Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Marketable Securities [Abstract]
Equity securities	$ 5,185	$ 6,509
Available-for-sale securities	181,234
Marketable securities	$ 186,419	$ 205,744
Equity Securities, FV-NI, Fair Value by Fair Value Hierarchy Level	us-gaap:FairValueInputsLevel1Member	us-gaap:FairValueInputsLevel1Member
Bonds [Member]
Marketable Securities [Abstract]
Available-for-sale securities	$ 181,234	$ 154,315
Debt Securities, Available-for-Sale, Fair Value by Fair Value Hierarchy Level	us-gaap:FairValueInputsLevel2Member	us-gaap:FairValueInputsLevel2Member
Commercial Paper [Member]
Marketable Securities [Abstract]
Available-for-sale securities		$ 44,920
Debt Securities, Available-for-Sale, Fair Value by Fair Value Hierarchy Level		us-gaap:FairValueInputsLevel2Member

Marketable Securities - Amortiz

Marketable Securities - Amortized Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	$ 190,025	$ 196,878
Gross Unrealized Holding Gains	2,110	4,755
Gross Unrealized Holding Losses	(10,901)	(2,397)
Fair Value	181,234
Bonds [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost	190,025	151,947
Gross Unrealized Holding Gains	2,110	4,753
Gross Unrealized Holding Losses	(10,901)	(2,384)
Fair Value	$ 181,234	154,315
Commercial Paper [Member]
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract]
Amortized Cost		44,931
Gross Unrealized Holding Gains		2
Gross Unrealized Holding Losses		(13)
Fair Value		$ 44,920

Marketable Securities - Maturit

Marketable Securities - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost, Rolling Maturity [Abstract]
Amortized Cost, Due within one year	$ 50,645
Amortized Cost, Due after one year through five years	86,011
Amortized Cost, Due after five years through ten years	29,923
Amortized Cost, Due after ten years	23,446
Amortized Cost	190,025	$ 196,878
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Rolling Maturity, Fair Value [Abstract]
Fair Value, Due within one year	48,635
Fair Value, Due after one year through five years	82,959
Fair Value, Due after five years through ten years	26,843
Fair Value, Due after ten years	22,797
Fair Value	$ 181,234

Marketable Securities - SERP In

Marketable Securities - SERP Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Net Investment Income [Line Items]
Investment Income (Loss) and Interest Expense	$ (82)	$ 5,007	$ 3,817
Supplemental Employee Retirement Plan [Member]
Net Investment Income [Line Items]
Investment Income (Loss) and Interest Expense	$ (3,800)	$ 3,400	$ 3,300

Inventories - Tabular Disclosur

Inventories - Tabular Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Inventory Disclosure [Abstract]
LIFO	$ 192,984	$ 178,520
Average Cost	100,290	91,067
Inventory, Net, Total	$ 293,274	$ 269,587

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021
LIFO Method Related Items [Abstract]
Excess of Replacement or Current Costs over Stated LIFO Value	$ 103.6	$ 74.5

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 2,512,515	$ 2,421,140
Less accumulated depreciation and amortization	1,541,602	1,443,353
Total	970,913	977,787
Land [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	137,132	136,486
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	828,407	815,108
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	1,313,676	1,225,296
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, at cost	$ 233,300	$ 244,250
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	10 years
Minimum [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	60 years
Maximum [Member] \| Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	12 years
Maximum [Member] \| Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	20 years

Lease Commitments - Lease Costs

Lease Commitments - Lease Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Lease, Cost [Abstract]
Operating lease cost	$ 48,289	$ 45,435	$ 46,283
Variable lease cost	11,221	10,875	11,167
Lease or sublease income	(9,744)	(10,055)	(8,636)
Net lease cost	$ 49,766	$ 46,255	$ 48,814

Lease Commitments - Future Mini

Lease Commitments - Future Minimum Rental Payments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases
2023	$ 48,090
2024	42,838
2025	35,116
2026	26,841
2027	19,005
Thereafter	36,677
Total Lease Payments	208,567
Less: Interest	22,616
Present value of lease liabilities	$ 185,951

Lease Commitments - Future Mi_2

Lease Commitments - Future Minimum Sublease and Lease Rental Income (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Lessee, Operating Sublease, Description [Abstract]
2023	$ (4,363)
2024	(3,504)
2025	(2,925)
2026	(2,166)
2027	(1,721)
Thereafter	(4,902)
Total Lease Payments	(19,581)
Less: Interest	22,616
Present value of lease liabilities	$ (19,581)

Lease Commitments - Operating L

Lease Commitments - Operating Lease Information (Details)	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Leases [Abstract]
Weighted-average remaining lease term	3 years 10 months 6 days	4 years 1 month 9 days	4 years 21 days
Weighted-average discount rate	2.81%	2.73%	3.36%

Lease Commitments - Supplementa

Lease Commitments - Supplemental cash flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 48,744	$ 47,799	$ 48,045
Right of use assets obtained in exchange for operating lease liabilities	$ 27,364	$ 31,663	$ 28,758

Retirement Plans - Tabular Disc

Retirement Plans - Tabular Disclosure (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	$ 6,679	$ 7,655	$ 6,218
Retirement Savings Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	5,155	3,692	2,249
Profit Sharing [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost		2,450	2,700
Deferred Compensation Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	815	810	806
Supplemental Executive Retirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost	$ 709	$ 703	$ 463

Retirement Plans - Additional I

Retirement Plans - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Retirement Plans [Abstract]
Employer matching contribution per dollar	$ 0.50	$ 0.25
Employer contribution matching, percentage	6%	6%
Defined Benefit Plan, Benefit Obligation	$ 3,600,000
Retirement Plans, Accumulated Benefit Obligation	$ 22,700,000	$ 27,200,000
Vesting percentage	100%
Service period to be fully vested	3 years
Estimated payments in next year	$ 1,000,000

Revenue Recognition - Segments

Revenue Recognition - Segments (Details) - segment	12 Months Ended
Revenue Recognition - Segments (Details) - segment	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments	1	1	1

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Product (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 4,695,943	$ 4,224,417	$ 4,112,601
Grocery [Member]
Disaggregation of Revenue [Line Items]
Total net sales	3,978,397	3,633,023	3,627,898
Pharmacy [Member]
Disaggregation of Revenue [Line Items]
Total net sales	441,840	399,128	356,630
Fuel, Product [Member]
Disaggregation of Revenue [Line Items]
Total net sales	263,265	183,631	117,800
Manufacturing [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 12,441	$ 8,635	$ 10,273

Revenue Recognition - Concentra

Revenue Recognition - Concentration Risk (Details)	12 Months Ended
Revenue Recognition - Concentration Risk (Details)	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Product Information [Line Items]
Concentration risk (as a percent)	100%	100%	100%
Grocery [Member] \| Revenue from Contract with Customer Benchmark [Member] \| Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	84.70%	86.10%	88.20%
Pharmacy [Member] \| Revenue from Contract with Customer Benchmark [Member] \| Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	9.40%	9.40%	8.70%
Fuel, Product [Member] \| Revenue from Contract with Customer Benchmark [Member] \| Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	5.60%	4.30%	2.90%
Manufacturing [Member] \| Revenue from Contract with Customer Benchmark [Member] \| Product Concentration Risk [Member]
Product Information [Line Items]
Concentration risk (as a percent)	0.30%	0.20%	0.20%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) balance, Beginning	$ 1,219,742	$ 1,146,115	$ 1,058,745
Net current period other comprehensive income (loss)	(8,135)	(1,599)	1,806
Accumulated other comprehensive income (loss) balance, Ending	1,301,834	1,219,742	1,146,115
AOCI Attributable to Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) balance, Beginning	1,687	3,286	1,480
Accumulated other comprehensive income (loss) balance, Ending	(6,449)	1,687	3,286
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive income (loss) balance, Beginning	1,687	3,286
Other comprehensive income (loss)	(8,135)	(1,599)
Net current period other comprehensive income (loss)	(8,135)	(1,599)
Accumulated other comprehensive income (loss) balance, Ending	$ (6,449)	$ 1,687	$ 3,286

Income Taxes - Income Tax Expen

Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Current:
Federal	$ 28,536	$ 20,771	$ 29,121
State	7,896	6,374	9,984
Deferred:
Federal	3,191	8,074	4,090
State	(4,042)	4,239	1,567
Total	$ 35,581	$ 39,458	$ 44,762

Income Taxes - Reconciliation (

Income Taxes - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Federal tax rate (as a percent)	21%	21%	21%
Effective tax rate (as a percent)	21%	21%	21%
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income taxes at federal statutory rate	$ 33,763	$ 31,144	$ 34,373
State income taxes, net of federal income tax benefit	4,700	6,207	7,261
Nondeductible employee-related expenses	2,235	2,530	2,223
State deferred rate change	(5,462)
Other	345	(423)	905
Total	$ 35,581	$ 39,458	$ 44,762

Income Taxes - Provision (Detai

Income Taxes - Provision (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Provision (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Income Taxes
Effective Income Tax Rate Reconciliation, Percent	22.10%	26.60%	27.30%
Federal tax rate (as a percent)	21%	21%	21%
Provision for income taxes	$ (5.5)

Income Taxes - Income Taxes Pai

Income Taxes - Income Taxes Paid (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Domestic Tax Authority [Member]
Income Taxes Paid, Net [Abstract]
Income taxes paid	$ 29.4	$ 20.4	$ 33.5
State and Local Jurisdiction [Member]
Income Taxes Paid, Net [Abstract]
Income taxes paid	$ 8	$ 4.4	$ 8.8

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 25, 2021
Deferred tax assets:
Accounts receivable	$ 1,195	$ 951
Employment incentives	6,329	6,886
Self-insurance liability	8,717	9,324
Postretirement benefit obligations	5,963	7,412
Net operating loss and credit carryforwards	5,009	6,202
Unrecognized tax benefits	2,869	2,108
Other	1,101	1,830
Total deferred tax assets	31,183	34,713
Deferred tax liabilities:
Inventories	(13,398)	(16,038)
Unrealized gains on marketable securities	1,280	(2,177)
Prepaids	(5,570)	(6,365)
Depreciation	(124,720)	(125,220)
Total deferred tax liabilities	(142,408)	(149,800)
Net deferred tax liability	$ (111,225)	$ (115,087)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of year	$ 10,036	$ 8,337
Increases based on tax positions related to the current year	2,376	1,699
Additions for tax positions of prior year	1,249	0
Reductions for tax positions of prior years	0	0
Settlements	0	0
Expiration of the statute of limitations for assessment of taxes	0	0
Unrecognized tax benefits at end of year	13,661	10,036
Unrecognized tax benefits that would impact effective tax rate	$ 3,600	$ 1,700	$ 1,700

Income Taxes - Tax Years Subjec

Income Taxes - Tax Years Subject to Examination (Details)	12 Months Ended
Income Taxes - Tax Years Subject to Examination (Details)	Dec. 31, 2022
Earliest Tax Year [Member]
Income Tax Contingency [Line Items]
Open tax year	2016
Latest Tax Year [Member]
Income Tax Contingency [Line Items]
Open tax year	2022

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss Carryforwards (Details) $ in Millions	Dec. 31, 2022 USD ($)
State and Local Jurisdiction [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 46

Long-Term Debt - General Inform

Long-Term Debt - General Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Sep. 24, 2022	Sep. 29, 2021
Revolving Credit Agreement, Wells Fargo Bank, National Association [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Sep. 01, 2016
Debt Instrument, Maturity Date	Sep. 01, 2024
Line of Credit Facility, Remaining Borrowing Capacity		$ 25.5
Revolving Credit Agreement, Wells Fargo Bank, National Association, Revolving Credit Facility [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 30
Revolving Credit Agreement, Wells Fargo Bank, National Association, Revolving Credit Facility, Discretionary [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 70
Revolving Credit Agreement, Wells Fargo Bank, National Association, Letters of Credit [Member] \| Letter of Credit [Member]
Debt Instrument [Line Items]
Amount of facility borrowed		$ 4.5

Long-Term Debt - Interest Expen

Long-Term Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
Interest Expense, Debt [Abstract]
Interest expense	$ 32	$ 32	$ 35

Schedule II - Valuation and Q_2

Schedule II - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Allowance, Credit Loss [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 26, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 3,451	$ 2,427	$ 2,757
Charged to Costs and Expenses	2,489	2,986	1,556
Charged to Accounts	0	0	0
Deductions	1,363	1,962	1,886
Balance at End of Period	$ 4,577	$ 3,451	$ 2,427