Net Income Per Share

9 Months Ended

Sep. 28, 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:

	Third Quarter				First Nine Months
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	$	12,132	$	16,169	$	28,364	$	32,260
Less dividends:
Common Stock		1,785		1,785		5,356		5,356
Class B Common Stock		532		527		1,592		1,577
Total undistributed earnings	$	9,815	$	13,857	$	21,416	$	25,327
Common Stock undistributed earnings – basic	$	7,560	$	10,698	$	16,505	$	19,563
Class B Common Stock undistributed earnings – basic		2,255		3,159		4,911		5,764
Total undistributed earnings – basic	$	9,815	$	13,857	$	21,416	$	25,327
Common Stock undistributed earnings – diluted	$	7,528	$	10,652	$	16,434	$	19,479
Class B Common Stock undistributed earnings – diluted		2,287		3,205		4,982		5,848
Total undistributed earnings – diluted	$	9,815	$	13,857	$	21,416	$	25,327
Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785	$	5,356	$	5,356
Common Stock undistributed earnings – basic		7,560		10,698		16,505		19,563
Numerator for basic net income per Common Stock share	$	9,345	$	12,483	$	21,861	$	24,919
Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	532	$	527	$	1,592	$	1,577
Class B Common Stock undistributed earnings – basic		2,255		3,159		4,911		5,764
Numerator for basic net income per Class B Common Stock share	$	2,787	$	3,686	$	6,503	$	7,341

	Third Quarter				First Nine Months
In Thousands (Except Per Share Data)	2014		2013		2014		2013
Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785	$	5,356	$	5,356
Dividends on Class B Common Stock assumed converted to Common Stock		532		527		1,592		1,577
Common Stock undistributed earnings – diluted		9,815		13,857		21,416		25,327
Numerator for diluted net income per Common Stock share	$	12,132	$	16,169	$	28,364	$	32,260
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	532	$	527	$	1,592	$	1,577
Class B Common Stock undistributed earnings – diluted		2,287		3,205		4,982		5,848
Numerator for diluted net income per Class B Common Stock share	$	2,819	$	3,732	$	6,574	$	7,425

	Third Quarter				First Nine Months
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		2,125		2,104
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		9,306		9,285
Class B Common Stock weighted average shares outstanding – diluted		2,170		2,149		2,165		2,144
Basic net income per share:
Common Stock	$	1.31	$	1.75	$	3.06	$	3.49
Class B Common Stock	$	1.31	$	1.75	$	3.06	$	3.49
Diluted net income per share:
Common Stock	$	1.30	$	1.74	$	3.05	$	3.47
Class B Common Stock	$	1.30	$	1.74	$	3.04	$	3.46

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.