PUBLIX SUPER MARKETS INC

CIK:0000081061|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Revenues:
Sales	$ 15,742	$ 15,579	$ 31,888	$ 31,406
Other operating income	130	111	240	218
Total revenues	15,872	15,690	32,128	31,624
Costs and expenses:
Cost of merchandise sold	11,711	11,606	23,647	23,300
Operating and administrative expenses	3,070	2,932	6,099	5,828
Total costs and expenses	14,781	14,538	29,746	29,128
Operating profit	1,091	1,152	2,382	2,496
Investment income	943	560	609	458
Other nonoperating income, net	33	32	68	65
Earnings before income tax expense	2,067	1,744	3,059	3,019
Income tax expense	410	369	608	633
Net earnings	$ 1,657	$ 1,375	$ 2,451	$ 2,386
Weighted average shares outstanding	3,211	3,258	3,213	3,258
Earnings per share (in dollars per share)	$ 0.52	$ 0.42	$ 0.76	$ 0.73

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows from operating activities:
Cash received from customers	$ 32,068	$ 31,517
Cash paid to employees and suppliers	(28,091)	(27,771)
Income taxes paid	(388)	(590)
Self-insured claims paid	(341)	(339)
Dividends and interest received	260	228
Other operating cash receipts	239	216
Other operating cash payments	(24)	(21)
Net cash provided by operating activities	3,723	3,240
Cash flows from investing activities:
Payment for capital expenditures	(1,468)	(1,018)
Proceeds from sale of property, plant and equipment	17	8
Payment for investments	(2,670)	(3,689)
Proceeds from sale and maturity of investments	1,874	2,692
Net cash used in investing activities	(2,247)	(2,007)
Cash flows from financing activities:
Payment for acquisition of common stock	(1,106)	(866)
Proceeds from sale of common stock	149	158
Dividends paid	(729)	(711)
Repayment of finance leases and long-term debt	(31)	(14)
Other, net	(2)	0
Net cash used in financing activities	(1,719)	(1,433)
Net decrease in cash and cash equivalents	(243)	(200)
Cash and cash equivalents at beginning of period	632	856
Cash and cash equivalents at end of period	389	656
Reconciliation of net earnings to net cash provided by operating activities:
Net earnings	2,451	2,386
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	599	527
Increase in last-in, first-out (LIFO) reserve	38	45
Retirement contributions paid or payable in common stock	283	268
Deferred income taxes	97	41
Loss (gain) on disposal and impairment of long-lived assets	2	(2)
Gain on investments	(334)	(228)
Net amortization of investments	1	9
Changes in operating assets and liabilities providing (requiring) cash:
Trade receivables	(35)	(63)
Inventories	233	(99)
Other assets	19	13
Accounts payable and accrued expenses	251	334
Income taxes	114	(12)
Other liabilities	4	21
Total adjustments	1,272	854
Net cash provided by operating activities	$ 3,723	$ 3,240

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 27, 2026	Dec. 27, 2025
Current assets:
Cash and cash equivalents	$ 389	$ 632
Short-term investments	2,675	2,597
Trade receivables	1,401	1,366
Inventories	2,666	2,937
Prepaid expenses	174	147
Total current assets	7,305	7,679
Long-term investments	15,445	14,455
Other noncurrent assets	883	833
Operating lease right-of-use assets	2,870	2,952
Property, plant and equipment	25,967	24,701
Accumulated depreciation	(10,077)	(9,631)
Net property, plant and equipment	15,890	15,070
Total assets	42,393	40,989
Current liabilities:
Accounts payable	3,021	3,074
Accrued expenses:
Contributions to retirement plans	508	802
Self-insurance reserves	325	316
Salaries and wages	594	372
Other	933	681
Current portion of operating lease liabilities	356	359
Total current liabilities	5,737	5,604
Deferred income taxes	1,640	1,563
Self-insurance reserves	250	243
Operating lease liabilities	2,340	2,418
Finance lease liabilities	863	841
Other noncurrent liabilities	197	218
Total liabilities	11,027	10,887
Common stock related to Employee Stock Ownership Plan (ESOP)	5,431	4,925
Stockholders’ equity:
Common stock of $1 par value. Authorized 4,000 shares; issued 3,234 shares in 2026 and 3,216 shares in 2025	3,234	3,216
Additional paid-in capital	2,986	2,648
Retained earnings	25,958	24,236
Treasury stock at cost, 37 shares in 2026	(753)	0
Accumulated other comprehensive losses	(93)	(34)
Common stock related to ESOP	(5,431)	(4,925)
Total stockholders’ equity	25,901	25,141
Noncontrolling interests	34	36
Total equity	31,366	30,102
Total liabilities and stockholders' equity	$ 42,393	$ 40,989