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.
|
|
Fiscal Year |
|
(in thousands, except per share data) |
|
2016 |
|
|
2015 |
|
|
2014 |
|
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 |
|
$ |
50,146 |
|
|
$ |
59,002 |
|
|
$ |
31,354 |
|
Less dividends: |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
|
7,141 |
|
|
|
7,141 |
|
|
|
7,141 |
|
Class B Common Stock |
|
|
2,166 |
|
|
|
2,146 |
|
|
|
2,125 |
|
Total undistributed earnings |
|
$ |
40,839 |
|
|
$ |
49,715 |
|
|
$ |
22,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock undistributed earnings – basic |
|
$ |
31,328 |
|
|
$ |
38,223 |
|
|
$ |
17,021 |
|
Class B Common Stock undistributed earnings – basic |
|
|
9,511 |
|
|
|
11,492 |
|
|
|
5,067 |
|
Total undistributed earnings |
|
$ |
40,839 |
|
|
$ |
49,715 |
|
|
$ |
22,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock undistributed earnings – diluted |
|
$ |
31,194 |
|
|
$ |
38,059 |
|
|
$ |
16,948 |
|
Class B Common Stock undistributed earnings – diluted |
|
|
9,645 |
|
|
|
11,656 |
|
|
|
5,140 |
|
Total undistributed earnings – diluted |
|
$ |
40,839 |
|
|
$ |
49,715 |
|
|
$ |
22,088 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator for basic net income per Common Stock share: |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends on Common Stock |
|
$ |
7,141 |
|
|
$ |
7,141 |
|
|
$ |
7,141 |
|
Common Stock undistributed earnings – basic |
|
|
31,328 |
|
|
|
38,223 |
|
|
|
17,021 |
|
Numerator for basic net income per Common Stock share |
|
$ |
38,469 |
|
|
$ |
45,364 |
|
|
$ |
24,162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator for basic net income per Class B Common Stock share: |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends on Class B Common Stock |
|
$ |
2,166 |
|
|
$ |
2,146 |
|
|
$ |
2,125 |
|
Class B Common Stock undistributed earnings – basic |
|
|
9,511 |
|
|
|
11,492 |
|
|
|
5,067 |
|
Numerator for basic net income per Class B Common Stock share |
|
$ |
11,677 |
|
|
$ |
13,638 |
|
|
$ |
7,192 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
2,166 |
|
|
|
2,146 |
|
|
|
2,125 |
|
Common Stock undistributed earnings – diluted |
|
|
40,839 |
|
|
|
49,715 |
|
|
|
22,088 |
|
Numerator for diluted net income per Common Stock share |
|
$ |
50,146 |
|
|
$ |
59,002 |
|
|
$ |
31,354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator for diluted net income per Class B Common Stock share: |
|
|
|
|
|
|
|
|
|
|
|
|
Dividends on Class B Common Stock |
|
$ |
2,166 |
|
|
$ |
2,146 |
|
|
$ |
2,125 |
|
Class B Common Stock undistributed earnings – diluted |
|
|
9,645 |
|
|
|
11,656 |
|
|
|
5,140 |
|
Numerator for diluted net income per Class B Common Stock share |
|
$ |
11,811 |
|
|
$ |
13,802 |
|
|
$ |
7,265 |
|
|
|
Fiscal Year |
|
(in thousands, except per share data) |
|
2016 |
|
|
2015 |
|
|
2014 |
|
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 |
|
|
2,168 |
|
|
|
2,147 |
|
|
|
2,126 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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) |
|
|
9,349 |
|
|
|
9,328 |
|
|
|
9,307 |
|
Class B Common Stock weighted average shares outstanding – diluted |
|
|
2,208 |
|
|
|
2,187 |
|
|
|
2,166 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
$ |
5.39 |
|
|
$ |
6.35 |
|
|
$ |
3.38 |
|
Class B Common Stock |
|
$ |
5.39 |
|
|
$ |
6.35 |
|
|
$ |
3.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
Common Stock |
|
$ |
5.36 |
|
|
$ |
6.33 |
|
|
$ |
3.37 |
|
Class B Common Stock |
|
$ |
5.35 |
|
|
$ |
6.31 |
|
|
$ |
3.35 |
|
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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