Computation of Basic Net Income Per Share and Diluted 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. See Note 1
to the consolidated financial statements for additional information
related to net income per share.
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Fiscal
Year |
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In
Thousands (Except Per Share Data)
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2014 |
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2013 |
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2012 |
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Numerator for basic and
diluted net income per Common Stock and Class B Common Stock
share:
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Net income attributable
to Coca-Cola Bottling Co. Consolidated
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$ |
31,354 |
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$ |
27,675 |
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$ |
27,217 |
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Less
dividends:
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Common Stock
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7,141 |
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7,141 |
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7,141 |
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Class B Common
Stock
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2,125 |
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2,104 |
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2,083 |
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Total undistributed
earnings
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$ |
22,088 |
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$ |
18,430 |
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$ |
17,993 |
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Common Stock
undistributed earnings — basic
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$ |
17,021 |
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$ |
14,234 |
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$ |
13,927 |
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Class B Common Stock
undistributed earnings — basic
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5,067 |
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4,196 |
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4,066 |
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Total undistributed
earnings
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$ |
22,088 |
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$ |
18,430 |
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$ |
17,993 |
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Common Stock
undistributed earnings — diluted
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$ |
16,948 |
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$ |
14,173 |
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$ |
13,867 |
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Class B Common Stock
undistributed earnings — diluted
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5,140 |
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4,257 |
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4,126 |
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Total undistributed
earnings — diluted
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$ |
22,088 |
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$ |
18,430 |
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$ |
17,993 |
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Numerator for basic net
income per Common Stock share:
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Dividends on Common
Stock
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$ |
7,141 |
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$ |
7,141 |
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$ |
7,141 |
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Common Stock
undistributed earnings — basic
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17,021 |
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14,234 |
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13,927 |
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Numerator for basic net
income per Common Stock share
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$ |
24,162 |
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$ |
21,375 |
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$ |
21,068 |
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Numerator for basic net
income per Class B Common Stock share:
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Dividends on Class B
Common Stock
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$ |
2,125 |
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$ |
2,104 |
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$ |
2,083 |
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Class B Common Stock
undistributed earnings — basic
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5,067 |
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4,196 |
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4,066 |
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Numerator for basic net
income per Class B Common Stock share
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$ |
7,192 |
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$ |
6,300 |
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$ |
6,149 |
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Numerator for diluted net
income per Common Stock share:
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Dividends on Common
Stock
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$ |
7,141 |
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$ |
7,141 |
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$ |
7,141 |
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Dividends on Class B
Common Stock assumed converted to Common Stock
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2,125 |
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2,104 |
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2,083 |
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Common Stock
undistributed earnings — diluted
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22,088 |
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18,430 |
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17,993 |
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Numerator for diluted net
income per Common Stock share
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$ |
31,354 |
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$ |
27,675 |
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$ |
27,217 |
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Fiscal
Year |
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In
Thousands (Except Per Share Data)
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2014 |
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2013 |
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2012 |
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Numerator for diluted net
income per Class B Common Stock share:
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Dividends on Class B
Common Stock
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$ |
2,125 |
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$ |
2,104 |
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$ |
2,083 |
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Class B Common Stock
undistributed earnings — diluted
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5,140 |
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4,257 |
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4,126 |
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Numerator for diluted net
income per Class B Common Stock share
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$ |
7,265 |
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$ |
6,361 |
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$ |
6,209 |
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Denominator for basic net
income per Common Stock and Class B Common Stock share:
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Common Stock weighted
average shares outstanding — basic
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7,141 |
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7,141 |
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7,141 |
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Class B Common Stock
weighted average shares outstanding — basic
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2,126 |
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2,105 |
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2,085 |
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Denominator for diluted
net income per Common Stock and Class B Common Stock
share:
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Common Stock weighted
average shares outstanding — diluted (assumes conversion of
Class B Common Stock to Common Stock)
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9,307 |
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9,286 |
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9,266 |
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Class B Common Stock
weighted average shares outstanding — diluted
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2,166 |
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2,145 |
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2,125 |
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Basic net income per
share:
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Common Stock
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$ |
3.38 |
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$ |
2.99 |
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$ |
2.95 |
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Class B Common
Stock
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$ |
3.38 |
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$ |
2.99 |
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$ |
2.95 |
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Diluted net income per
share:
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Common Stock
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$ |
3.37 |
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$ |
2.98 |
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$ |
2.94 |
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Class B Common
Stock
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$ |
3.35 |
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$ |
2.97 |
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$ |
2.92 |
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NOTES TO
TABLE
(1) |
For purposes of the
diluted net income per share computation for Common Stock, 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 diluted effect of shares relative to the Performance
Unit Award. |
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