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Net Income Per Share | 9 Months Ended
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Sep. 28, 2014
Earnings Per Share [Abstract] |
Net Income Per Share |
22. | 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) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
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 |  | $ | 12,132 |  |  | $ | 16,169 |  |  | $ | 28,364 |  |  | $ | 32,260 |
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  |  | 1,785 |  |  |  | 1,785 |  |  |  | 5,356 |  |  |  | 5,356 |
Class B Common Stock |  |  | 532 |  |  |  | 527 |  |  |  | 1,592 |  |  |  | 1,577 |
Total undistributed earnings |  | $ | 9,815 |  |  | $ | 13,857 |  |  | $ | 21,416 |  |  | $ | 25,327 |
Common Stock undistributed earnings – basic |  | $ | 7,560 |  |  | $ | 10,698 |  |  | $ | 16,505 |  |  | $ | 19,563 |
Class B Common Stock undistributed earnings – basic |  |  | 2,255 |  |  |  | 3,159 |  |  |  | 4,911 |  |  |  | 5,764 |
Total undistributed earnings – basic |  | $ | 9,815 |  |  | $ | 13,857 |  |  | $ | 21,416 |  |  | $ | 25,327 |
Common Stock undistributed earnings – diluted |  | $ | 7,528 |  |  | $ | 10,652 |  |  | $ | 16,434 |  |  | $ | 19,479 |
Class B Common Stock undistributed earnings – diluted |  |  | 2,287 |  |  |  | 3,205 |  |  |  | 4,982 |  |  |  | 5,848 |
Total undistributed earnings – diluted |  | $ | 9,815 |  |  | $ | 13,857 |  |  | $ | 21,416 |  |  | $ | 25,327 |
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 |  |  | 7,560 |  |  |  | 10,698 |  |  |  | 16,505 |  |  |  | 19,563 |
Numerator for basic net income per Common Stock share |  | $ | 9,345 |  |  | $ | 12,483 |  |  | $ | 21,861 |  |  | $ | 24,919 |
Numerator for basic net income per Class B Common Stock share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends on Class B Common Stock |  | $ | 532 |  |  | $ | 527 |  |  | $ | 1,592 |  |  | $ | 1,577 |
Class B Common Stock undistributed earnings – basic |  |  | 2,255 |  |  |  | 3,159 |  |  |  | 4,911 |  |  |  | 5,764 |
Numerator for basic net income per Class B Common Stock share |  | $ | 2,787 |  |  | $ | 3,686 |  |  | $ | 6,503 |  |  | $ | 7,341 |
|  | Third Quarter |  |  | First Nine Months |
In Thousands (Except Per Share Data) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
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 |  |  | 532 |  |  |  | 527 |  |  |  | 1,592 |  |  |  | 1,577 |
Common Stock undistributed earnings – diluted |  |  | 9,815 |  |  |  | 13,857 |  |  |  | 21,416 |  |  |  | 25,327 |
Numerator for diluted net income per Common Stock share |  | $ | 12,132 |  |  | $ | 16,169 |  |  | $ | 28,364 |  |  | $ | 32,260 |
Numerator for diluted net income per Class B Common Stock share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends on Class B Common Stock |  | $ | 532 |  |  | $ | 527 |  |  | $ | 1,592 |  |  | $ | 1,577 |
Class B Common Stock undistributed earnings – diluted |  |  | 2,287 |  |  |  | 3,205 |  |  |  | 4,982 |  |  |  | 5,848 |
Numerator for diluted net income per Class B Common Stock share |  | $ | 2,819 |  |  | $ | 3,732 |  |  | $ | 6,574 |  |  | $ | 7,425 |
|  | Third Quarter |  |  | First Nine Months |
In Thousands (Except Per Share Data) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
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 |  |  | 2,130 |  |  |  | 2,109 |  |  |  | 2,125 |  |  |  | 2,104 |
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) |  |  | 9,311 |  |  |  | 9,290 |  |  |  | 9,306 |  |  |  | 9,285 |
Class B Common Stock weighted average shares outstanding – diluted |  |  | 2,170 |  |  |  | 2,149 |  |  |  | 2,165 |  |  |  | 2,144 |
Basic net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  | $ | 1.31 |  |  | $ | 1.75 |  |  | $ | 3.06 |  |  | $ | 3.49 |
Class B Common Stock |  | $ | 1.31 |  |  | $ | 1.75 |  |  | $ | 3.06 |  |  | $ | 3.49 |
Diluted net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  | $ | 1.30 |  |  | $ | 1.74 |  |  | $ | 3.05 |  |  | $ | 3.47 |
Class B Common Stock |  | $ | 1.30 |  |  | $ | 1.74 |  |  | $ | 3.04 |  |  | $ | 3.46 |
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.

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