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Net Loss Per Share
 6 Months Ended
Jul. 02, 2017
Earnings Per Share [Abstract]  
Net Income Per Share

19.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)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

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

 

$

6,348

 

 

$

15,652

 

 

$

1,297

 

 

$

5,611

 

Less dividends:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

 

1,786

 

 

 

1,786

 

 

 

3,571

 

 

 

3,571

 

Class B Common Stock

 

 

548

 

 

 

543

 

 

 

1,091

 

 

 

1,081

 

Total undistributed earnings (loss)

 

$

4,014

 

 

$

13,323

 

 

$

(3,365

)

 

$

959

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock undistributed earnings (loss) – basic

 

$

3,071

 

 

$

10,216

 

 

$

(2,577

)

 

$

736

 

Class B Common Stock undistributed earnings (loss) – basic

 

 

943

 

 

 

3,107

 

 

 

(788

)

 

 

223

 

Total undistributed earnings (loss) – basic

 

$

4,014

 

 

$

13,323

 

 

$

(3,365

)

 

$

959

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock undistributed earnings (loss) – diluted

 

$

3,058

 

 

$

10,172

 

 

$

(2,566

)

 

$

733

 

Class B Common Stock undistributed earnings (loss) – diluted

 

 

956

 

 

 

3,151

 

 

 

(799

)

 

 

226

 

Total undistributed earnings (loss) – diluted

 

$

4,014

 

 

$

13,323

 

 

$

(3,365

)

 

$

959

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income per Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Common Stock

 

$

1,786

 

 

$

1,786

 

 

$

3,571

 

 

$

3,571

 

Common Stock undistributed earnings (loss) – basic

 

 

3,071

 

 

 

10,216

 

 

 

(2,577

)

 

 

736

 

Numerator for basic net income per Common Stock share

 

$

4,857

 

 

$

12,002

 

 

$

994

 

 

$

4,307

 

 

 

 

Second Quarter

 

 

First Half

 

(in thousands, except per share data)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerator for basic net income per Class B Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Class B Common Stock

 

$

548

 

 

$

543

 

 

$

1,091

 

 

$

1,081

 

Class B Common Stock undistributed earnings (loss) – basic

 

 

943

 

 

 

3,107

 

 

 

(788

)

 

 

223

 

Numerator for basic net income per Class B Common Stock share

 

$

1,491

 

 

$

3,650

 

 

$

303

 

 

$

1,304

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for diluted net income per Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Common Stock

 

$

1,786

 

 

$

1,786

 

 

$

3,571

 

 

$

3,571

 

Dividends on Class B Common Stock assumed converted to Common Stock

 

 

548

 

 

 

543

 

 

 

1,091

 

 

 

1,081

 

Common Stock undistributed earnings (loss) – diluted

 

 

4,014

 

 

 

13,323

 

 

 

(3,365

)

 

 

959

 

Numerator for diluted net income per Common Stock share

 

$

6,348

 

 

$

15,652

 

 

$

1,297

 

 

$

5,611

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for diluted net income per Class B Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Class B Common Stock

 

$

548

 

 

$

543

 

 

$

1,091

 

 

$

1,081

 

Class B Common Stock undistributed earnings (loss) – diluted

 

 

956

 

 

 

3,151

 

 

 

(799

)

 

 

226

 

Numerator for diluted net income per Class B Common Stock share

 

$

1,504

 

 

$

3,694

 

 

$

292

 

 

$

1,307

 

 

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

 

 

2,193

 

 

 

2,172

 

 

 

2,185

 

 

 

2,164

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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)

 

 

9,374

 

 

 

9,353

 

 

 

9,366

 

 

 

9,345

 

Class B Common Stock weighted average shares outstanding – diluted

 

 

2,233

 

 

 

2,212

 

 

 

2,225

 

 

 

2,204

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

$

0.68

 

 

$

1.68

 

 

$

0.14

 

 

$

0.60

 

Class B Common Stock

 

$

0.68

 

 

$

1.68

 

 

$

0.14

 

 

$

0.60

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

$

0.68

 

 

$

1.67

 

 

$

0.14

 

 

$

0.59

 

Class B Common Stock

 

$

0.67

 

 

$

1.67

 

 

$

0.13

 

 

$

0.59

 

 

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 earnings 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)

Denominator for diluted net loss per share for Common Stock and Class B Common Stock includes the dilutive effect of shares relative to the Performance Unit Award.