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Piedmont Coca-Cola Bottling Partnership
12 Months Ended
Dec. 30, 2012
Piedmont Coca-Cola Bottling Partnership [Abstract]  
Piedmont Coca-Cola Bottling Partnership

2.    Piedmont Coca-Cola Bottling Partnership

On July 2, 1993, the Company and The Coca-Cola Company formed Piedmont to distribute and market nonalcoholic beverages primarily in portions of North Carolina and South Carolina. The Company provides a portion of the nonalcoholic beverage products to Piedmont at cost and receives a fee for managing the operations of Piedmont pursuant to a management agreement. These intercompany transactions are eliminated in the consolidated financial statements.

Noncontrolling interest as of December 30, 2012, January 1, 2012 and January 2, 2011 primarily represents the portion of Piedmont which is owned by The Coca-Cola Company. The Coca-Cola Company’s interest in Piedmont was 22.7% in all periods reported.

 

The Company currently provides financing to Piedmont under an agreement that expires on December 31, 2015. Piedmont pays the Company interest on its borrowings at the Company’s average cost of funds plus 0.50%. There were no amounts outstanding under this agreement at December 30, 2012. The loan balance was $17.8 million at January 1, 2012.