Net Income Per Share

6 Months Ended

Jun. 29, 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:

	Second Quarter				First Half
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	$	13,783	$	11,229	$	16,232	$	16,091
Less dividends:
Common Stock		1,786		1,785		3,571		3,571
Class B Common Stock		533		527		1,060		1,049
Total undistributed earnings	$	11,464	$	8,917	$	11,601	$	11,471
Common Stock undistributed earnings – basic	$	8,830	$	6,884	$	8,942	$	8,862
Class B Common Stock undistributed earnings – basic		2,634		2,033		2,659		2,609
Total undistributed earnings – basic	$	11,464	$	8,917	$	11,601	$	11,471
Common Stock undistributed earnings – diluted	$	8,792	$	6,854	$	8,904	$	8,824
Class B Common Stock undistributed earnings – diluted		2,672		2,063		2,697		2,647
Total undistributed earnings – diluted	$	11,464	$	8,917	$	11,601	$	11,471
Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	1,786	$	1,785	$	3,571	$	3,571
Common Stock undistributed earnings – basic		8,830		6,884		8,942		8,862
Numerator for basic net income per Common Stock share	$	10,616	$	8,669	$	12,513	$	12,433
Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	533	$	527	$	1,060	$	1,049
Class B Common Stock undistributed earnings – basic		2,634		2,033		2,659		2,609
Numerator for basic net income per Class B Common Stock share	$	3,167	$	2,560	$	3,719	$	3,658

	Second Quarter				First Half
In Thousands (Except Per Share Data)	2014		2013		2014		2013
Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	1,786	$	1,785	$	3,571	$	3,571
Dividends on Class B Common Stock assumed converted to Common Stock		533		527		1,060		1,049
Common Stock undistributed earnings – diluted		11,464		8,917		11,601		11,471
Numerator for diluted net income per Common Stock share	$	13,783	$	11,229	$	16,232	$	16,091
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	533	$	527	$	1,060	$	1,049
Class B Common Stock undistributed earnings – diluted		2,672		2,063		2,697		2,647
Numerator for diluted net income per Class B Common Stock share	$	3,205	$	2,590	$	3,757	$	3,696

	Second Quarter				First Half
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		2,123		2,102
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		9,304		9,283
Class B Common Stock weighted average shares outstanding – diluted		2,170		2,149		2,163		2,142
Basic net income per share:
Common Stock	$	1.49	$	1.21	$	1.75	$	1.74
Class B Common Stock	$	1.49	$	1.21	$	1.75	$	1.74
Diluted net income per share:
Common Stock	$	1.48	$	1.21	$	1.74	$	1.73
Class B Common Stock	$	1.48	$	1.21	$	1.74	$	1.73

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.