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Net Income Per Share | 6 Months Ended
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Jul. 03, 2016
Earnings Per Share [Abstract] |
Net Income Per Share | 18. 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:
|  | Second Quarter |  |  | First Half |
In Thousands (Except Per Share Data) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
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 |  | $ | 15,652 |  |  | $ | 26,934 |  |  | $ | 5,611 |  |  | $ | 29,158 |
Less dividends: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  |  | 1,786 |  |  |  | 1,786 |  |  |  | 3,571 |  |  |  | 3,571 |
Class B Common Stock |  |  | 543 |  |  |  | 538 |  |  |  | 1,081 |  |  |  | 1,070 |
Total undistributed earnings |  | $ | 13,323 |  |  | $ | 24,610 |  |  | $ | 959 |  |  | $ | 24,517 |
Common Stock undistributed earnings – basic |  | $ | 10,216 |  |  | $ | 18,913 |  |  | $ | 736 |  |  | $ | 18,858 |
Class B Common Stock undistributed earnings – basic |  |  | 3,107 |  |  |  | 5,697 |  |  |  | 223 |  |  |  | 5,659 |
Total undistributed earnings – basic |  | $ | 13,323 |  |  | $ | 24,610 |  |  | $ | 959 |  |  | $ | 24,517 |
Common Stock undistributed earnings – diluted |  | $ | 10,172 |  |  | $ | 18,832 |  |  | $ | 733 |  |  | $ | 18,777 |
Class B Common Stock undistributed earnings – diluted |  |  | 3,151 |  |  |  | 5,778 |  |  |  | 226 |  |  |  | 5,740 |
Total undistributed earnings – diluted |  | $ | 13,323 |  |  | $ | 24,610 |  |  | $ | 959 |  |  | $ | 24,517 |
Numerator for basic net income per Common Stock share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends on Common Stock |  | $ | 1,786 |  |  | $ | 1,786 |  |  | $ | 3,571 |  |  | $ | 3,571 |
Common Stock undistributed earnings – basic |  |  | 10,216 |  |  |  | 18,913 |  |  |  | 736 |  |  |  | 18,858 |
Numerator for basic net income per Common Stock share |  | $ | 12,002 |  |  | $ | 20,699 |  |  | $ | 4,307 |  |  | $ | 22,429 |
Numerator for basic net income per Class B Common Stock share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends on Class B Common Stock |  | $ | 543 |  |  | $ | 538 |  |  | $ | 1,081 |  |  | $ | 1,070 |
Class B Common Stock undistributed earnings – basic |  |  | 3,107 |  |  |  | 5,697 |  |  |  | 223 |  |  |  | 5,659 |
Numerator for basic net income per Class B Common Stock share |  | $ | 3,650 |  |  | $ | 6,235 |  |  | $ | 1,304 |  |  | $ | 6,729 |
Numerator for diluted net income per Common Stock share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends on Common Stock |  | $ | 1,786 |  |  | $ | 1,786 |  |  | $ | 3,571 |  |  | $ | 3,571 |
Dividends on Class B Common Stock assumed converted to Common Stock |  |  | 543 |  |  |  | 538 |  |  |  | 1,081 |  |  |  | 1,070 |
Common Stock undistributed earnings – diluted |  |  | 13,323 |  |  |  | 24,610 |  |  |  | 959 |  |  |  | 24,517 |
Numerator for diluted net income per Common Stock share |  | $ | 15,652 |  |  | $ | 26,934 |  |  | $ | 5,611 |  |  | $ | 29,158 |
Numerator for diluted net income per Class B Common Stock share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividends on Class B Common Stock |  | $ | 543 |  |  | $ | 538 |  |  | $ | 1,081 |  |  | $ | 1,070 |
Class B Common Stock undistributed earnings – diluted |  |  | 3,151 |  |  |  | 5,778 |  |  |  | 226 |  |  |  | 5,740 |
Numerator for diluted net income per Class B Common Stock share |  | $ | 3,694 |  |  | $ | 6,316 |  |  | $ | 1,307 |  |  | $ | 6,810 |
|  | Second Quarter |  |  | First Half |
In Thousands (Except Per Share Data) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
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 |  |  | 2,172 |  |  |  | 2,151 |  |  |  | 2,164 |  |  |  | 2,143 |
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) |  |  | 9,353 |  |  |  | 9,332 |  |  |  | 9,345 |  |  |  | 9,324 |
Class B Common Stock weighted average shares outstanding – diluted |  |  | 2,212 |  |  |  | 2,191 |  |  |  | 2,204 |  |  |  | 2,183 |
Basic net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  | $ | 1.68 |  |  | $ | 2.90 |  |  | $ | 0.60 |  |  | $ | 3.14 |
Class B Common Stock |  | $ | 1.68 |  |  | $ | 2.90 |  |  | $ | 0.60 |  |  | $ | 3.14 |
Diluted net income per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common Stock |  | $ | 1.67 |  |  | $ | 2.89 |  |  | $ | 0.60 |  |  | $ | 3.13 |
Class B Common Stock |  | $ | 1.67 |  |  | $ | 2.88 |  |  | $ | 0.59 |  |  | $ | 3.12 |
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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