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Net Income Per Share
 12 Months Ended
Jan. 01, 2012
Net Income Per Share [Abstract]  
Net Income Per Share

20.    Net Income Per Share

The following table sets forth the computation of basic net income per share and diluted net income per share under the two-class method. See Note 1 to the consolidated financial statements for additional information related to net income per share.

                         
     Fiscal Year  

In thousands (except per share data)

   2011     2010     2009  

Numerator for basic and diluted net income per Common Stock and Class B Common Stock share:

                        

Net income attributable to Coca-Cola Bottling Co. Consolidated

   $ 28,608     $ 36,057     $ 38,136  

Less dividends:

                        

Common Stock

     7,141       7,141       7,070  

Class B Common Stock

     2,062       2,039       2,092  
   

 

 

    

 

 

    

 

 

  

Total undistributed earnings

   $ 19,405     $ 26,877     $ 28,974  
   

 

 

    

 

 

    

 

 

  

Common Stock undistributed earnings — basic

   $ 15,056     $ 20,905     $ 22,360  

Class B Common Stock undistributed earnings — basic

     4,349       5,972       6,614  
   

 

 

    

 

 

    

 

 

  

Total undistributed earnings

   $ 19,405     $ 26,877     $ 28,974  
   

 

 

    

 

 

    

 

 

  

Common Stock undistributed earnings — diluted

   $ 14,990     $ 20,814     $ 22,279  

Class B Common Stock undistributed earnings — diluted

     4,415       6,063       6,695  
   

 

 

    

 

 

    

 

 

  

Total undistributed earnings — diluted

   $ 19,405     $ 26,877     $ 28,974  
   

 

 

    

 

 

    

 

 

  

Numerator for basic net income per Common Stock share:

                        

Dividends on Common Stock

   $ 7,141     $ 7,141     $ 7,070  

Common Stock undistributed earnings — basic

     15,056       20,905       22,360  
   

 

 

    

 

 

    

 

 

  

Numerator for basic net income per Common Stock share

   $ 22,197     $ 28,046     $ 29,430  
   

 

 

    

 

 

    

 

 

  

Numerator for basic net income per Class B Common Stock share:

                        

Dividends on Class B Common Stock

   $ 2,062     $ 2,039     $ 2,092  

Class B Common Stock undistributed earnings — basic

     4,349       5,972       6,614  
   

 

 

    

 

 

    

 

 

  

Numerator for basic net income per Class B Common Stock share

   $ 6,411     $ 8,011     $ 8,706  
   

 

 

    

 

 

    

 

 

  

Numerator for diluted net income per Common Stock share:

                        

Dividends on Common Stock

   $ 7,141     $ 7,141     $ 7,070  

Dividends on Class B Common Stock assumed converted to Common Stock

     2,062       2,039       2,092  

Common Stock undistributed earnings — diluted

     19,405       26,877       28,974  
   

 

 

    

 

 

    

 

 

  

Numerator for diluted net income per Common Stock share

   $ 28,608     $ 36,057     $ 38,136  
   

 

 

    

 

 

    

 

 

  

 

                         
    Fiscal Year  

In thousands (Except Per Share Data)

   2011     2010     2009  

Numerator for diluted net income per Class B Common Stock share:

                        

Dividends on Class B Common Stock

   $ 2,062     $ 2,039     $ 2,092  

Class B Common Stock undistributed earnings — diluted

     4,415       6,063       6,695  
   

 

 

    

 

 

    

 

 

  

Numerator for diluted net income per Class B Common Stock share

   $ 6,477     $ 8,102     $ 8,787  
   

 

 

    

 

 

    

 

 

  

Denominator for basic net income per Common Stock and Class B Common Stock share:

                        

Common Stock weighted average shares outstanding — basic

     7,141       7,141       7,072  

Class B Common Stock weighted average shares outstanding — basic

     2,063       2,040       2,092  

Denominator for diluted net income per Common Stock and Class B Common Stock share:

                        

Common Stock weighted average shares outstanding — diluted (assumes conversion of Class B Common Stock to Common Stock)

     9,244       9,221       9,197  

Class B Common Stock weighted average shares outstanding — diluted

     2,103       2,080       2,125  

Basic net income per share:

                        

Common Stock

   $ 3.11     $ 3.93     $ 4.16  
   

 

 

    

 

 

    

 

 

  

Class B Common Stock

   $ 3.11     $ 3.93     $ 4.16  
   

 

 

    

 

 

    

 

 

  

Diluted net income per share:

                        

Common Stock

   $ 3.09     $ 3.91     $ 4.15  
   

 

 

    

 

 

    

 

 

  

Class B Common Stock

   $ 3.08     $ 3.90     $ 4.13  
   

 

 

    

 

 

    

 

 

  

NOTES TO TABLE

 

(1) For purposes of the diluted net income per share computation for Common Stock, shares of Class B Common Stock are assumed to be converted; therefore, 100% of undistributed earnings is allocated to Common Stock.

 

(2) For purposes of the diluted net income per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed to be outstanding for the entire period and not converted.

 

(3) Denominator for diluted net income per share for Common Stock and Class B Common Stock includes the diluted effect of shares relative to the Performance Unit Award.