Net Income Per Share

3 Months Ended

Apr. 01, 2012

Net Income Per Share [Abstract]

Net Income Per Share

21. 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:

	First Quarter
In Thousands (Except Per Share Data)	2012		2011
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	$	4,565	$	5,913
Less dividends:
Common Stock		1,785		1,785
Class B Common Stock		517		511
Total undistributed earnings	$	2,263	$	3,617
Common Stock undistributed earnings — basic	$	1,754	$	2,810
Class B Common Stock undistributed earnings — basic		509		807
Total undistributed earnings — basic	$	2,263	$	3,617
Common Stock undistributed earnings — diluted	$	1,746	$	2,798
Class B Common Stock undistributed earnings — diluted		517		819
Total undistributed earnings — diluted	$	2,263	$	3,617
Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785
Common Stock undistributed earnings — basic		1,754		2,810
Numerator for basic net income per Common Stock share	$	3,539	$	4,595
Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	517	$	511
Class B Common Stock undistributed earnings — basic		509		807
Numerator for basic net income per Class B Common Stock share	$	1,026	$	1,318

	First Quarter
In Thousands (Except Per Share Data)	2012		2011
Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785
Dividends on Class B Common Stock assumed converted to Common Stock		517		511
Common Stock undistributed earnings — diluted		2,263		3,617
Numerator for diluted net income per Common Stock share	$	4,565	$	5,913
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	517	$	511
Class B Common Stock undistributed earnings — diluted		517		819
Numerator for diluted net income per Class B Common Stock share	$	1,034	$	1,330

	First Quarter
In Thousands (Except Per Share Data)	2012		2011
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
Class B Common Stock weighted average shares outstanding — basic		2,073		2,051
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)		9,254		9,232
Class B Common Stock weighted average shares outstanding — diluted		2,113		2,091
Basic net income per share:
Common Stock	$	.50	$	.64
Class B Common Stock	$	.50	$	.64
Diluted net income per share:
Common Stock	$	.49	$	.64
Class B Common Stock	$	.49	$	.64

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.