XML 84 R39.htm IDEA: XBRL DOCUMENT
v3.20.1

Leases (Tables) | 3 Months Ended
--- | ---
Mar. 29, 2020
Leases [Abstract] |
Summary of Weighted Average Remaining Lease Term and Discount Rate and Balances Related to Lease Portfolio within Condensed Consolidated Statement of Operations | Following is a summary of the weighted average remaining lease term and weighted average discount rate for the Company’s population of leases:
|  | March 29, 2020 |  | December 29, 2019
Weighted average remaining lease term: |  |  |  |
Operating leases |  | 10.0 years |  | 10.2 years
Financing leases |  | 5.8 years |  | 4.8 years
Weighted average discount rate: |  |  |  |
Operating leases |  | 4.1 | % |  | 4.1 | %
Financing leases |  | 5.6 | % |  | 5.7 | %
Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of operations:
|  | First Quarter |  |
(in thousands) |  | 2020 |  | 2019
Cost of sales impact: |  |  |  |
Operating lease costs |  | $ | 1,385 |  |  |  | $ | 1,341 |
Short-term and variable leases |  | 2,600 |  |  |  | 2,262 |
Depreciation expense from financing leases |  | 354 |  |  |  | 353 |
Total cost of sales impact |  | $ | 4,339 |  |  |  | $ | 3,956 |
SD&A expenses impact: |  |  |  |  |  |  |
Operating lease costs |  | $ | 4,669 |  |  |  | $ | 2,896 |
Short-term and variable leases |  | 890 |  |  |  | 1,059 |
Depreciation expense from financing leases |  | 571 |  |  |  | 1,139 |
Total SD&A expenses impact |  | $ | 6,130 |  |  |  | $ | 5,094 |
Interest expense, net impact: |  |  |  |  |  |  |
Interest expense on financing lease obligations |  | $ | 266 |  |  |  | $ | 702 |
Total interest expense, net impact |  | $ | 266 |  |  |  | $ | 702 |
Total lease cost |  | $ | 10,735 |  |  |  | $ | 9,752 |
Summary of Future Minimum Lease Payments for Noncancelable Operating Leases | Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of March 29, 2020:
(in thousands) |  | Operating Leases |  | Financing Leases |  | Total
Remainder of 2020 |  | $ | 17,092 |  |  | $ | 5,275 |  |  | $ | 22,367 |
2021 |  | 20,809 |  |  | 2,628 |  |  | 23,437 |
2022 |  | 18,089 |  |  | 2,694 |  |  | 20,783 |
2023 |  | 15,832 |  |  | 2,750 |  |  | 18,582 |
2024 |  | 15,192 |  |  | 2,808 |  |  | 18,000 |
Thereafter |  | 89,017 |  |  | 5,407 |  |  | 94,424 |
Total minimum lease payments including interest |  | $ | 176,031 |  |  | $ | 21,562 |  |  | $ | 197,593 |
Less: Amounts representing interest |  | 33,496 |  |  | 3,027 |  |  | 36,523 |
Present value of minimum lease principal payments |  | 142,535 |  |  | 18,535 |  |  | 161,070 |
Less: Current portion of lease liabilities - operating and financing leases |  | 17,837 |  |  | 5,099 |  |  | 22,936 |
Noncurrent portion of lease liabilities - operating and financing leases |  | $ | 124,698 |  |  | $ | 13,436 |  |  | $ | 138,134 |
Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019:
(in thousands) |  | Operating Leases |  | Financing Leases |  | Total
2020 |  | $ | 19,236 |  |  | $ | 10,611 |  |  | $ | 29,847 |
2021 |  | 16,815 |  |  | 6,215 |  |  | 23,030 |
2022 |  | 14,016 |  |  | 2,694 |  |  | 16,710 |
2023 |  | 11,704 |  |  | 2,750 |  |  | 14,454 |
2024 |  | 10,989 |  |  | 2,808 |  |  | 13,797 |
Thereafter |  | 67,556 |  |  | 5,406 |  |  | 72,962 |
Total minimum lease payments including interest |  | $ | 140,316 |  |  | $ | 30,484 |  |  | $ | 170,800 |
Less: Amounts representing interest |  | 27,527 |  |  |  | 3,678 |  |  |  | 31,205 |
Present value of minimum lease principal payments |  | 112,789 |  |  |  | 26,806 |  |  |  | 139,595 |
Less: Current portion of lease liabilities - operating and financing leases |  | 15,024 |  |  |  | 9,403 |  |  |  | 24,427 |
Noncurrent portion of lease liabilities - operating and financing leases |  | $ | 97,765 |  |  |  | $ | 17,403 |  |  |  | $ | 115,168 |
Summary of Future Minimum Lease Payments for Noncancelable Finance Leases | Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of March 29, 2020:
(in thousands) |  | Operating Leases |  | Financing Leases |  | Total
Remainder of 2020 |  | $ | 17,092 |  |  | $ | 5,275 |  |  | $ | 22,367 |
2021 |  | 20,809 |  |  | 2,628 |  |  | 23,437 |
2022 |  | 18,089 |  |  | 2,694 |  |  | 20,783 |
2023 |  | 15,832 |  |  | 2,750 |  |  | 18,582 |
2024 |  | 15,192 |  |  | 2,808 |  |  | 18,000 |
Thereafter |  | 89,017 |  |  | 5,407 |  |  | 94,424 |
Total minimum lease payments including interest |  | $ | 176,031 |  |  | $ | 21,562 |  |  | $ | 197,593 |
Less: Amounts representing interest |  | 33,496 |  |  | 3,027 |  |  | 36,523 |
Present value of minimum lease principal payments |  | 142,535 |  |  | 18,535 |  |  | 161,070 |
Less: Current portion of lease liabilities - operating and financing leases |  | 17,837 |  |  | 5,099 |  |  | 22,936 |
Noncurrent portion of lease liabilities - operating and financing leases |  | $ | 124,698 |  |  | $ | 13,436 |  |  | $ | 138,134 |
Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019:
(in thousands) |  | Operating Leases |  | Financing Leases |  | Total
2020 |  | $ | 19,236 |  |  | $ | 10,611 |  |  | $ | 29,847 |
2021 |  | 16,815 |  |  | 6,215 |  |  | 23,030 |
2022 |  | 14,016 |  |  | 2,694 |  |  | 16,710 |
2023 |  | 11,704 |  |  | 2,750 |  |  | 14,454 |
2024 |  | 10,989 |  |  | 2,808 |  |  | 13,797 |
Thereafter |  | 67,556 |  |  | 5,406 |  |  | 72,962 |
Total minimum lease payments including interest |  | $ | 140,316 |  |  | $ | 30,484 |  |  | $ | 170,800 |
Less: Amounts representing interest |  | 27,527 |  |  |  | 3,678 |  |  |  | 31,205 |
Present value of minimum lease principal payments |  | 112,789 |  |  |  | 26,806 |  |  |  | 139,595 |
Less: Current portion of lease liabilities - operating and financing leases |  | 15,024 |  |  |  | 9,403 |  |  |  | 24,427 |
Noncurrent portion of lease liabilities - operating and financing leases |  | $ | 97,765 |  |  |  | $ | 17,403 |  |  |  | $ | 115,168 |
Summary of Balances Related to Lease Portfolio within Condensed Consolidated Statement of Cash Flow | Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of cash flows:
|  | First Quarter |  |
(in thousands) |  | 2020 |  | 2019
Cash flows from operating activities impact: |  |  |  |
Operating leases |  | $ | 4,195 |  |  | $ | 4,136 |
Interest payments on financing lease obligations |  | 266 |  |  | 702 |
Total cash flows from operating activities impact |  | $ | 4,461 |  |  | $ | 4,838 |
Cash flows from financing activities impact: |  |  |  |
Principal payments on financing lease obligations |  | $ | 1,485 |  |  | $ | 2,114 |
Total cash flows from financing activities impact |  | $ | 1,485 |  |  | $ | 2,114 |

X
- Definition Schedule of balances related to lease portfolio presented in statement of cash flow. + References No definition available. + Details
Name: | coke_ScheduleOfBalancesRelatedToLeasePortfolioPresentedInStatementOfCashFlowTableTextBlock
Namespace Prefix: | coke_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration