Net Income Per Share

6 Months Ended

Jun. 30, 2013

Earnings 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:

	Second Quarter				First Half
In Thousands (Except Per Share Data)	2013		2012		2013		2012
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	$	11,229	$	10,747	$	16,091	$	15,312
Less dividends:
Common Stock		1,785		1,785		3,571		3,571
Class B Common Stock		527		522		1,049		1,039
Total undistributed earnings	$	8,917	$	8,440	$	11,471	$	10,702
Common Stock undistributed earnings – basic	$	6,884	$	6,530	$	8,862	$	8,287
Class B Common Stock undistributed earnings – basic		2,033		1,910		2,609		2,415
Total undistributed earnings – basic	$	8,917	$	8,440	$	11,471	$	10,702
Common Stock undistributed earnings – diluted	$	6,854	$	6,502	$	8,824	$	8,251
Class B Common Stock undistributed earnings – diluted		2,063		1,938		2,647		2,451
Total undistributed earnings – diluted	$	8,917	$	8,440	$	11,471	$	10,702
Numerator for basic net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785	$	3,571	$	3,571
Common Stock undistributed earnings – basic		6,884		6,530		8,862		8,287
Numerator for basic net income per Common Stock share	$	8,669	$	8,315	$	12,433	$	11,858
Numerator for basic net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	527	$	522	$	1,049	$	1,039
Class B Common Stock undistributed earnings – basic		2,033		1,910		2,609		2,415
Numerator for basic net income per Class B Common Stock share	$	2,560	$	2,432	$	3,658	$	3,454

	Second Quarter				First Half
In Thousands (Except Per Share Data)	2013		2012		2013		2012
Numerator for diluted net income per Common Stock share:
Dividends on Common Stock	$	1,785	$	1,785	$	3,571	$	3,571
Dividends on Class B Common Stock assumed converted to Common Stock		527		522		1,049		1,039
Common Stock undistributed earnings – diluted		8,917		8,440		11,471		10,702
Numerator for diluted net income per Common Stock share	$	11,229	$	10,747	$	16,091	$	15,312
Numerator for diluted net income per Class B Common Stock share:
Dividends on Class B Common Stock	$	527	$	522	$	1,049	$	1,039
Class B Common Stock undistributed earnings – diluted		2,063		1,938		2,647		2,451
Numerator for diluted net income per Class B Common Stock share	$	2,590	$	2,460	$	3,696	$	3,490

	Second Quarter				First Half
In Thousands (Except Per Share Data)	2013		2012		2013		2012
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		7,141
Class B Common Stock weighted average shares outstanding – basic		2,109		2,089		2,102		2,081
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)		9,290		9,270		9,283		9,262
Class B Common Stock weighted average shares outstanding – diluted		2,149		2,129		2,142		2,121
Basic net income per share:
Common Stock	$	1.21	$	1.16	$	1.74	$	1.66
Class B Common Stock	$	1.21	$	1.16	$	1.74	$	1.66
Diluted net income per share:
Common Stock	$	1.21	$	1.16	$	1.73	$	1.65
Class B Common Stock	$	1.21	$	1.16	$	1.73	$	1.65

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.