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Net Income (Loss) Per Share
 12 Months Ended
Dec. 30, 2018
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share

23.

Net Income (Loss) Per Share

 

The following table sets forth the computation of basic net income (loss) per share and diluted net income (loss) per share under the two-class method. See Note 1 to the consolidated financial statements for additional information related to net income (loss) per share.

 

 

 

Fiscal Year

 

(in thousands, except per share data)

 

2018

 

 

2017

 

 

2016

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) attributable to Coca-Cola Consolidated, Inc.

 

$

(19,930

)

 

$

96,535

 

 

$

50,146

 

Less dividends:

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

 

7,141

 

 

 

7,141

 

 

 

7,141

 

Class B Common Stock

 

 

2,212

 

 

 

2,187

 

 

 

2,166

 

Total undistributed earnings (losses)

 

$

(29,283

)

 

$

87,207

 

 

$

40,839

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock undistributed earnings (losses) – basic

 

$

(22,365

)

 

$

66,754

 

 

$

31,328

 

Class B Common Stock undistributed earnings (losses) – basic

 

 

(6,918

)

 

 

20,453

 

 

 

9,511

 

Total undistributed earnings (losses)

 

$

(29,283

)

 

$

87,207

 

 

$

40,839

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock undistributed earnings (losses) – diluted

 

$

(22,365

)

 

$

66,469

 

 

$

31,194

 

Class B Common Stock undistributed earnings (losses) – diluted

 

 

(6,918

)

 

 

20,738

 

 

 

9,645

 

Total undistributed earnings (losses) – diluted

 

$

(29,283

)

 

$

87,207

 

 

$

40,839

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for basic net income (loss) per Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Common Stock

 

$

7,141

 

 

$

7,141

 

 

$

7,141

 

Common Stock undistributed earnings (losses) – basic

 

 

(22,365

)

 

 

66,754

 

 

 

31,328

 

Numerator for basic net income (loss) per Common Stock share

 

$

(15,224

)

 

$

73,895

 

 

$

38,469

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Class B Common Stock

 

$

2,212

 

 

$

2,187

 

 

$

2,166

 

Class B Common Stock undistributed earnings (losses) – basic

 

 

(6,918

)

 

 

20,453

 

 

 

9,511

 

Numerator for basic net income (loss) per Class B Common Stock share

 

$

(4,706

)

 

$

22,640

 

 

$

11,677

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for diluted net income (loss) per Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Common Stock

 

$

7,141

 

 

$

7,141

 

 

$

7,141

 

Dividends on Class B Common Stock assumed converted to Common Stock

 

 

2,212

 

 

 

2,187

 

 

 

2,166

 

Common Stock undistributed earnings (losses) – diluted

 

 

(29,283

)

 

 

87,207

 

 

 

40,839

 

Numerator for diluted net income (loss) per Common Stock share

 

$

(19,930

)

 

$

96,535

 

 

$

50,146

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Dividends on Class B Common Stock

 

$

2,212

 

 

$

2,187

 

 

$

2,166

 

Class B Common Stock undistributed earnings (losses) – diluted

 

 

(6,918

)

 

 

20,738

 

 

 

9,645

 

Numerator for diluted net income (loss) per Class B Common Stock share

 

$

(4,706

)

 

$

22,925

 

 

$

11,811

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income (loss) per Common Stock and Class B Common Stock share:

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock weighted average shares outstanding – basic

 

 

7,141

 

 

 

7,141

 

 

 

7,141

 

Class B Common Stock weighted average shares outstanding – basic

 

 

2,209

 

 

 

2,188

 

 

 

2,168

 

 

 

 

Fiscal Year

 

(in thousands, except per share data)

 

2018

 

 

2017

 

 

2016

 

Denominator for diluted net income (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)

 

 

9,350

 

 

 

9,369

 

 

 

9,349

 

Class B Common Stock weighted average shares outstanding – diluted

 

 

2,209

 

 

 

2,228

 

 

 

2,208

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

$

(2.13

)

 

$

10.35

 

 

$

5.39

 

Class B Common Stock

 

$

(2.13

)

 

$

10.35

 

 

$

5.39

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

$

(2.13

)

 

$

10.30

 

 

$

5.36

 

Class B Common Stock

 

$

(2.13

)

 

$

10.29

 

 

$

5.35

 

 

NOTES TO TABLE

 

(1)

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

(2)

For purposes of the diluted net income (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)

The denominator for diluted net income (loss) per share for Common Stock and Class B Common Stock includes the dilutive effect of shares relative to the Performance Unit Award Agreement.

(4)

The Company does not have anti-dilutive shares.