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)	2013		2012		2011
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	$	27,675	$	27,217	$	28,608
Less dividends:
Common Stock		7,141		7,141		7,141
Class B Common Stock		2,104		2,083		2,062

Total undistributed earnings	$	18,430	$	17,993	$	19,405

Common Stock undistributed earnings — basic	$	14,234	$	13,927	$	15,056
Class B Common Stock undistributed earnings — basic		4,196		4,066		4,349

Total undistributed earnings	$	18,430	$	17,993	$	19,405

Common Stock undistributed earnings — diluted	$	14,173	$	13,867	$	14,990
Class B Common Stock undistributed earnings — diluted		4,257		4,126		4,415

Total undistributed earnings — diluted	$	18,430	$	17,993	$	19,405

Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	7,141	$	7,141	$	7,141
Common Stock undistributed earnings — basic		14,234		13,927		15,056

Numerator for basic net income per Common Stock share	$	21,375	$	21,068	$	22,197

Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	2,104	$	2,083	$	2,062
Class B Common Stock undistributed earnings — basic		4,196		4,066		4,349

Numerator for basic net income per Class B Common Stock share	$	6,300	$	6,149	$	6,411

Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	7,141	$	7,141	$	7,141
Dividends on Class B Common Stock assumed converted to Common Stock		2,104		2,083		2,062
Common Stock undistributed earnings — diluted		18,430		17,993		19,405

Numerator for diluted net income per Common Stock share	$	27,675	$	27,217	$	28,608

Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	2,104	$	2,083	$	2,062
Class B Common Stock undistributed earnings — diluted		4,257		4,126		4,415

Numerator for diluted net income per Class B Common Stock share	$	6,361	$	6,209	$	6,477

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

Class B Common Stock weighted average shares outstanding — basic		2,105		2,085		2,063

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)		9,286		9,266		9,244

Class B Common Stock weighted average shares outstanding — diluted		2,145		2,125		2,103

Basic net income per share:
Common Stock	$	2.99	$	2.95	$	3.11

Class B Common Stock	$	2.99	$	2.95	$	3.11

Diluted net income per share:
Common Stock	$	2.98	$	2.94	$	3.09

Class B Common Stock	$	2.97	$	2.92	$	3.08

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.