XML 50 R40.htm IDEA: XBRL DOCUMENT v3.21.2

Leases (Tables)

9 Months Ended

Oct. 01, 2021

Leases [Abstract]

Summary of Weighted Average Remaining Lease Term and Discount Rate and Leases within Condensed Consolidated Statement of Operations

Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

						October 1, 2021						December 31, 2020
Weighted average remaining lease term:
Operating leases						8.6 years						9.4 years
Financing leases						12.7 years						13.4 years
Weighted average discount rate:
Operating leases						3.7		%				4.0		%
Financing leases						3.1		%				3.2		%

Following is a summary of the Company’s leases within the condensed consolidated statements of operations:

						Third Quarter												First Nine Months
(in thousands)						2021						2020						2021						2020
Operating lease costs						$	6,828					$	6,243					$	19,647					$	18,392
Short-term and variable leases						4,561						3,982						12,932						10,980
Depreciation expense from financing leases						1,414						1,415						4,242						3,264
Interest expense on financing lease obligations						575						613						1,738						1,120
Total lease cost						$	13,378					$	12,253					$	38,559					$	33,756

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 October 1, 2021:

(in thousands)						Operating Leases						Financing Leases
Remainder of 2021						$	6,212					$	1,774
2022						24,389						7,145
2023						23,273						7,201
2024						19,211						7,396
2025						16,680						7,593
Thereafter						81,220						55,828
Total minimum lease payments including interest						$	170,985					$	86,937
Less:  Amounts representing interest						26,708						14,660
Present value of minimum lease principal payments						144,277						72,277
Less:  Current portion of lease liabilities						20,650						6,009
Noncurrent portion of lease liabilities						$	123,627					$	66,268

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2020:

(in thousands)						Operating Leases						Financing Leases
2021						$	24,056					$	7,079
2022						20,970						7,145
2023						18,125						7,201
2024						15,330						7,396
2025						13,747						7,593
Thereafter						77,353						55,827
Total minimum lease payments including interest						$	169,581					$	92,241
Less:  Amounts representing interest						29,892						16,397
Present value of minimum lease principal payments						139,689						75,844
Less:  Current portion of lease liabilities						19,766						5,860
Noncurrent portion of lease liabilities						$	119,923					$	69,984

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 October 1, 2021:

(in thousands)						Operating Leases						Financing Leases
Remainder of 2021						$	6,212					$	1,774
2022						24,389						7,145
2023						23,273						7,201
2024						19,211						7,396
2025						16,680						7,593
Thereafter						81,220						55,828
Total minimum lease payments including interest						$	170,985					$	86,937
Less:  Amounts representing interest						26,708						14,660
Present value of minimum lease principal payments						144,277						72,277
Less:  Current portion of lease liabilities						20,650						6,009
Noncurrent portion of lease liabilities						$	123,627					$	66,268

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2020:

(in thousands)						Operating Leases						Financing Leases
2021						$	24,056					$	7,079
2022						20,970						7,145
2023						18,125						7,201
2024						15,330						7,396
2025						13,747						7,593
Thereafter						77,353						55,827
Total minimum lease payments including interest						$	169,581					$	92,241
Less:  Amounts representing interest						29,892						16,397
Present value of minimum lease principal payments						139,689						75,844
Less:  Current portion of lease liabilities						19,766						5,860
Noncurrent portion of lease liabilities						$	119,923					$	69,984

Summary of Leases within Condensed Consolidated Statement of Cash Flow

Following is a summary of the Company’s leases within the condensed consolidated statements of cash flows:

						First Nine Months
(in thousands)						2021						2020
Cash flows from operating activities impact:
Operating leases						$	21,112					$	14,134
Interest payments on financing lease obligations						1,738						1,120
Total cash flows from operating activities impact						$	22,850					$	15,254
Cash flows from financing activities impact:
Principal payments on financing lease obligations						$	3,567					$	4,428
Total cash flows from financing activities impact						$	3,567					$	4,428

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:	dtr-types: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=123408670&loc=SL77918701-209980

+ Details

Name:	us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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=123408670&loc=SL77918686-209980

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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=123408670&loc=SL77918701-209980

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration