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Net Income Per Share (Tables)
9 Months Ended
Sep. 29, 2013
Earnings Per Share [Abstract]  
Computation of Basic Net Income Per Share and Diluted 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:

 

     Third Quarter      First Nine Months  

In Thousands (Except Per Share Data)

   2013      2012      2013      2012  

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

   $ 16,169       $ 10,079       $ 32,260       $ 25,391   

Less dividends:

           

Common Stock

     1,785         1,785         5,356         5,356   

Class B Common Stock

     527         522         1,577         1,561   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total undistributed earnings

   $ 13,857       $ 7,772       $ 25,327       $ 18,474   
  

 

 

    

 

 

    

 

 

    

 

 

 

Common Stock undistributed earnings – basic

   $ 10,698       $ 6,013       $ 19,563       $ 14,301   

Class B Common Stock undistributed earnings – basic

     3,159         1,759         5,764         4,173   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total undistributed earnings – basic

   $ 13,857       $ 7,772       $ 25,327       $ 18,474   
  

 

 

    

 

 

    

 

 

    

 

 

 

Common Stock undistributed earnings – diluted

   $ 10,652       $ 5,987       $ 19,479       $ 14,239   

Class B Common Stock undistributed earnings – diluted

     3,205         1,785         5,848         4,235   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total undistributed earnings – diluted

   $ 13,857       $ 7,772       $ 25,327       $ 18,474   
  

 

 

    

 

 

    

 

 

    

 

 

 

Numerator for basic net income per Common Stock share:

           

Dividends on Common Stock

   $ 1,785       $ 1,785       $ 5,356       $ 5,356   

Common Stock undistributed earnings – basic

     10,698         6,013         19,563         14,301   
  

 

 

    

 

 

    

 

 

    

 

 

 

Numerator for basic net income per Common Stock share

   $ 12,483       $ 7,798       $ 24,919       $ 19,657   
  

 

 

    

 

 

    

 

 

    

 

 

 

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

           

Dividends on Class B Common Stock

   $ 527       $ 522       $ 1,577       $ 1,561   

Class B Common Stock undistributed earnings – basic

     3,159         1,759         5,764         4,173   
  

 

 

    

 

 

    

 

 

    

 

 

 

Numerator for basic net income per Class B Common Stock share

   $ 3,686       $ 2,281       $ 7,341       $ 5,734   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

     Third Quarter      First Nine Months  

In Thousands (Except Per Share Data)

   2013      2012      2013      2012  

Numerator for diluted net income per Common Stock share:

           

Dividends on Common Stock

   $ 1,785       $ 1,785       $ 5,356       $ 5,356   

Dividends on Class B Common Stock assumed converted to Common Stock

     527         522         1,577         1,561   

Common Stock undistributed earnings – diluted

     13,857         7,772         25,327         18,474   
  

 

 

    

 

 

    

 

 

    

 

 

 

Numerator for diluted net income per Common Stock share

   $ 16,169       $ 10,079       $ 32,260       $ 25,391   
  

 

 

    

 

 

    

 

 

    

 

 

 

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

           

Dividends on Class B Common Stock

   $ 527       $ 522       $ 1,577       $ 1,561   

Class B Common Stock undistributed earnings – diluted

     3,205         1,785         5,848         4,235   
  

 

 

    

 

 

    

 

 

    

 

 

 

Numerator for diluted net income per Class B Common Stock share

   $ 3,732       $ 2,307       $ 7,425       $ 5,796   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

 

     Third Quarter      First Nine Months  

In Thousands (Except Per Share Data)

   2013      2012      2013      2012  

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         7,141         7,141   

Class B Common Stock weighted average shares outstanding – basic

     2,109         2,089         2,104         2,084   

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)

     9,290         9,270         9,285         9,265   

Class B Common Stock weighted average shares outstanding – diluted

     2,149         2,129         2,144         2,124   

Basic net income per share:

           

Common Stock

   $ 1.75       $ 1.09       $ 3.49       $ 2.75   
  

 

 

    

 

 

    

 

 

    

 

 

 

Class B Common Stock

   $ 1.75       $ 1.09       $ 3.49       $ 2.75   
  

 

 

    

 

 

    

 

 

    

 

 

 

Diluted net income per share:

           

Common Stock

   $ 1.74       $ 1.09       $ 3.47       $ 2.74   
  

 

 

    

 

 

    

 

 

    

 

 

 

Class B Common Stock

   $ 1.74       $ 1.08       $ 3.46       $ 2.73   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

NOTES TO TABLE

 

(1) For purposes of the diluted net income per share computation for Common Stock, all 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 dilutive effect of shares relative to the Performance Unit Award.