Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Computation of Basic Net Loss Per Share and Diluted Net Loss Per Share

The following table sets forth the computation of basic net loss per share and diluted net loss per share under the two-class method:

	First Quarter
(in thousands, except per share data)	2019			2018
Numerator for basic and diluted net loss per Common Stock and Class B Common Stock share:
Net loss attributable to Coca-Cola Consolidated, Inc.	$	(6,831	)	$	(14,185	)
Less dividends:
Common Stock		1,785			1,785
Class B Common Stock		554			548
Total undistributed losses	$	(9,170	)	$	(16,518	)
Common Stock undistributed losses – basic	$	(6,996	)	$	(12,629	)
Class B Common Stock undistributed losses – basic		(2,174	)		(3,889	)
Total undistributed losses – basic	$	(9,170	)	$	(16,518	)
Common Stock undistributed losses – diluted	$	(6,996	)	$	(12,629	)
Class B Common Stock undistributed losses – diluted		(2,174	)		(3,889	)
Total undistributed losses – diluted	$	(9,170	)	$	(16,518	)
Numerator for basic net loss per Common Stock share:
Dividends on Common Stock	$	1,785		$	1,785
Common Stock undistributed losses – basic		(6,996	)		(12,629	)
Numerator for basic net loss per Common Stock share	$	(5,211	)	$	(10,844	)

	First Quarter
(in thousands, except per share data)	2019			2018
Numerator for basic net loss per Class B Common Stock share:
Dividends on Class B Common Stock	$	554		$	548
Class B Common Stock undistributed losses – basic		(2,174	)		(3,889	)
Numerator for basic net loss per Class B Common Stock share	$	(1,620	)	$	(3,341	)
Numerator for diluted net loss per Common Stock share:
Dividends on Common Stock	$	1,785		$	1,785
Dividends on Class B Common Stock assumed converted to Common Stock		554			548
Common Stock undistributed losses – diluted		(9,170	)		(16,518	)
Numerator for diluted net loss per Common Stock share	$	(6,831	)	$	(14,185	)
Numerator for diluted net loss per Class B Common Stock share:
Dividends on Class B Common Stock	$	554		$	548
Class B Common Stock undistributed losses – diluted		(2,174	)		(3,889	)
Numerator for diluted net loss per Class B Common Stock share	$	(1,620	)	$	(3,341	)
Denominator for basic net loss per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding – basic		7,141			7,141
Class B Common Stock weighted average shares outstanding – basic		2,219			2,199
Denominator for diluted net loss 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)		9,360			9,340
Class B Common Stock weighted average shares outstanding – diluted		2,219			2,199
Basic net loss per share:
Common Stock	$	(0.73	)	$	(1.52	)
Class B Common Stock	$	(0.73	)	$	(1.52	)
Diluted net loss per share:
Common Stock	$	(0.73	)	$	(1.52	)
Class B Common Stock	$	(0.73	)	$	(1.52	)

NOTES TO TABLE

⁽¹⁾ For purposes of the diluted net loss per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted; therefore, 100% of undistributed losses is allocated to Common Stock.

⁽²⁾ For purposes of the diluted net loss 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⁾ For periods presented during which the Company has net income, the denominator for diluted net income per share for Common Stock and Class B Common Stock included the dilutive effect of shares relative to the Long-Term Performance Equity Plan and the Performance Unit Award Agreement. For periods presented during which the Company has net loss, the unvested performance units granted pursuant to the Long-Term Performance Equity Plan and the Performance Unit Award Agreement are excluded from the calculation of diluted net loss per share, as the effect of these awards would be anti-dilutive. See Note 21 to the consolidated condensed financial statements for additional information on the Long-Term Performance Equity Plan and the Performance Unit Award Agreement.

⁽⁴⁾ The Company does not have anti-dilutive shares.