Net Income Per Share

6 Months Ended

Jul. 01, 2012

Net Income Per Share [Abstract]

Net Income Per Share

21. 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)	2012		2011		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	$	10,747	$	11,101	$	15,312	$	17,014
Less dividends:
Common Stock		1,785		1,785		3,571		3,571
Class B Common Stock		522		517		1,039		1,028
Total undistributed earnings	$	8,440	$	8,799	$	10,702	$	12,415
Common Stock undistributed earnings – basic	$	6,530	$	6,824	$	8,287	$	9,636
Class B Common Stock undistributed earnings – basic		1,910		1,975		2,415		2,779
Total undistributed earnings – basic	$	8,440	$	8,799	$	10,702	$	12,415
Common Stock undistributed earnings – diluted	$	6,502	$	6,794	$	8,251	$	9,595
Class B Common Stock undistributed earnings – diluted		1,938		2,005		2,451		2,820
Total undistributed earnings – diluted	$	8,440	$	8,799	$	10,702	$	12,415
Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785	$	3,571	$	3,571
Common Stock undistributed earnings – basic		6,530		6,824		8,287		9,636
Numerator for basic net income per Common Stock share	$	8,315	$	8,609	$	11,858	$	13,207
Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	522	$	517	$	1,039	$	1,028
Class B Common Stock undistributed earnings – basic		1,910		1,975		2,415		2,779
Numerator for basic net income per Class B Common Stock share	$	2,432	$	2,492	$	3,454	$	3,807

	Second Quarter				First Half
In Thousands (Except Per Share Data)	2012		2011		2012		2011
Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785	$	3,571	$	3,571
Dividends on Class B Common Stock assumed converted to Common Stock		522		517		1,039		1,028
Common Stock undistributed earnings – diluted		8,440		8,799		10,702		12,415
Numerator for diluted net income per Common Stock share	$	10,747	$	11,101	$	15,312	$	17,014
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	522	$	517	$	1,039	$	1,028
Class B Common Stock undistributed earnings – diluted		1,938		2,005		2,451		2,820
Numerator for diluted net income per Class B Common Stock share	$	2,460	$	2,522	$	3,490	$	3,848

	Second Quarter				First Half
In Thousands (Except Per Share Data)	2012		2011		2012		2011
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		2,089		2,067		2,081		2,059
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)		9,270		9,248		9,262		9,240
Class B Common Stock weighted average shares outstanding – diluted		2,129		2,107		2,121		2,099
Basic net income per share:
Common Stock	$	1.16	$	1.21	$	1.66	$	1.85
Class B Common Stock	$	1.16	$	1.21	$	1.66	$	1.85
Diluted net income per share:
Common Stock	$	1.16	$	1.20	$	1.65	$	1.84
Class B Common Stock	$	1.16	$	1.20	$	1.65	$	1.83

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.