20. 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.

	Fiscal Year
In Thousands (Except Per Share Data)	2015		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	$	59,002	$	31,354	$	27,675
Less dividends:
Common Stock		7,141		7,141		7,141
Class B Common Stock		2,146		2,125		2,104
Total undistributed earnings	$	49,715	$	22,088	$	18,430

Common Stock undistributed earnings – basic	$	38,223	$	17,021	$	14,234
Class B Common Stock undistributed earnings – basic		11,492		5,067		4,196
Total undistributed earnings	$	49,715	$	22,088	$	18,430

Common Stock undistributed earnings – diluted	$	38,059	$	16,948	$	14,173
Class B Common Stock undistributed earnings – diluted		11,656		5,140		4,257
Total undistributed earnings – diluted	$	49,715	$	22,088	$	18,430

Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	7,141	$	7,141	$	7,141
Common Stock undistributed earnings – basic		38,223		17,021		14,234
Numerator for basic net income per Common Stock share	$	45,364	$	24,162	$	21,375

Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	2,146	$	2,125	$	2,104
Class B Common Stock undistributed earnings – basic		11,492		5,067		4,196
Numerator for basic net income per Class B Common Stock share	$	13,638	$	7,192	$	6,300

Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	7,141	$	7,141	$	7,141
Dividends on Class B Common Stock assumed converted to Common Stock		2,146		2,125		2,104
Common Stock undistributed earnings – diluted		49,715		22,088		18,430
Numerator for diluted net income per Common Stock share	$	59,002	$	31,354	$	27,675

	Fiscal Year
In Thousands (Except Per Share Data)	2015		2014		2013
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	2,146	$	2,125	$	2,104
Class B Common Stock undistributed earnings – diluted		11,656		5,140		4,257
Numerator for diluted net income per Class B Common Stock share	$	13,802	$	7,265	$	6,361

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
Class B Common Stock weighted average shares outstanding – basic		2,147		2,126		2,105
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)		9,328		9,307		9,286
Class B Common Stock weighted average shares outstanding – diluted		2,187		2,166		2,145
Basic net income per share:
Common Stock	$	6.35	$	3.38	$	2.99
Class B Common Stock	$	6.35	$	3.38	$	2.99
Diluted net income per share:
Common Stock	$	6.33	$	3.37	$	2.98
Class B Common Stock	$	6.31	$	3.35	$	2.97

⁽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.