Coca-Cola Consolidated (COKE) 10-Q 4 Aug 20 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 28, 2020	Jul. 26, 2020
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2020
Document Transition Report	false
Entity File Number	0-9286
Entity Registrant Name	COCA-COLA CONSOLIDATED, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	56-0950585
Entity Address, Address Line One	4100 Coca-Cola Plaza
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28211
City Area Code	(704)
Local Phone Number	557-4400
Title of 12(b) Security	Common Stock, $1.00 Par Value
Trading Symbol	COKE
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000317540
Current Fiscal Year End Date	--01-03
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		7,141,447
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,232,242

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Net sales	$ 1,227,215	$ 1,273,659	$ 2,400,236	$ 2,376,571
Cost of sales	797,914	837,880	1,565,640	1,551,484
Gross profit	429,301	435,779	834,596	825,087
Selling, delivery and administrative expenses	346,183	368,565	718,657	737,719
Income from operations	83,118	67,214	115,939	87,368
Interest expense, net	9,184	11,995	18,745	24,881
Other expense, net	16,134	31,181	18,432	47,032
Income before income taxes	57,800	24,038	78,762	15,455
Income tax expense	15,187	7,182	20,548	4,177
Net income	42,613	16,856	58,214	11,278
Less: Net income attributable to noncontrolling interest	3,044	1,486	3,983	2,739
Net income attributable to Coca-Cola Consolidated, Inc.	$ 39,569	$ 15,370	$ 54,231	$ 8,539
Common Stock
Basic net income per share based on net income attributable to Coca-Cola Consolidated, Inc.:
Common Stock (in dollars per share)	$ 4.23	$ 1.64	$ 5.79	$ 0.91
Weighted average number of Common Stock shares outstanding (in shares)	7,141	7,141	7,141	7,141
Diluted net income per share based on net income attributable to Coca-Cola Consolidated, Inc.:
Common Stock (in dollars per share)	$ 4.19	$ 1.64	$ 5.74	$ 0.91
Weighted average number of Common Stock shares outstanding - assuming dilution (in shares)	9,440	9,421	9,440	9,415
Cash dividends per share:
Common Stock (in dollars per share)	$ 0.25	$ 0.25	$ 0.50	$ 0.50
Class B Common Stock
Basic net income per share based on net income attributable to Coca-Cola Consolidated, Inc.:
Common Stock (in dollars per share)	$ 4.23	$ 1.64	$ 5.79	$ 0.91
Weighted average number of Common Stock shares outstanding (in shares)	2,232	2,232	2,232	2,225
Diluted net income per share based on net income attributable to Coca-Cola Consolidated, Inc.:
Common Stock (in dollars per share)	$ 4.18	$ 1.63	$ 5.73	$ 0.90
Weighted average number of Common Stock shares outstanding - assuming dilution (in shares)	2,299	2,280	2,299	2,274
Cash dividends per share:
Common Stock (in dollars per share)	$ 0.25	$ 0.25	$ 0.50	$ 0.50

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 42,613	$ 16,856	$ 58,214	$ 11,278
Defined benefit plans reclassification including pension costs:
Actuarial gains	897	679	1,793	1,358
Prior service benefits	3	5	7	9
Postretirement benefits reclassification included in benefits costs:
Actuarial gains	66	147	132	295
Prior service costs	0	(243)	0	(487)
Interest rate swap	2	0	(1,013)	0
Foreign currency translation adjustment	3	5	2	(4)
Other comprehensive income, net of tax	971	593	921	1,171
Comprehensive income	43,584	17,449	59,135	12,449
Less: Comprehensive income attributable to noncontrolling interest	3,044	1,486	3,983	2,739
Comprehensive income attributable to Coca-Cola Consolidated, Inc.	$ 40,540	$ 15,963	$ 55,152	$ 9,710

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Current Assets:
Cash and cash equivalents	$ 77,550	$ 9,614
Accounts receivable, trade	471,962	433,552
Allowance for doubtful accounts	(21,244)	(13,782)
Accounts receivable from The Coca-Cola Company	48,092	62,411
Accounts receivable, other	40,453	43,094
Inventories	211,128	225,926
Prepaid expenses and other current assets	72,170	69,461
Total current assets	900,111	830,276
Property, plant and equipment, net	985,178	997,403
Right-of-use assets - operating leases	134,315	111,376
Leased property under financing leases, net	11,573	17,960
Other assets	109,822	113,269
Goodwill	165,903	165,903
Total assets	3,184,580	3,126,926
Current Liabilities:
Current portion of obligations under operating leases	17,602	15,024
Current portion of obligations under financing leases	4,070	9,403
Accounts payable, trade	216,138	187,476
Accounts payable to The Coca-Cola Company	139,780	108,699
Other accrued liabilities	190,018	208,834
Accrued compensation	62,168	87,813
Accrued interest payable	4,454	4,946
Total current liabilities	634,230	622,195
Deferred income taxes	147,101	125,130
Pension and postretirement benefit obligations	117,839	114,831
Other liabilities	674,669	668,566
Noncurrent portion of obligations under operating leases	122,053	97,765
Noncurrent portion of obligations under financing leases	12,949	17,403
Long-term debt	970,174	1,029,920
Total liabilities	2,679,015	2,675,810
Commitments and Contingencies
Equity:
Capital in excess of par value	128,983	128,983
Retained earnings	430,706	381,161
Accumulated other comprehensive loss	(114,081)	(115,002)
Total equity of Coca-Cola Consolidated, Inc.	397,418	346,952
Noncontrolling interest	108,147	104,164
Total equity	505,565	451,116
Total liabilities and equity	3,184,580	3,126,926
Common Stock
Equity:
Common Stock	10,204	10,204
Treasury stock, at cost	(60,845)	(60,845)
Class B Common Stock
Equity:
Common Stock	2,860	2,860
Treasury stock, at cost	(409)	(409)
Distribution agreements, net
Current Assets:
Intangible assets, net	863,954	876,096
Customer lists and other identifiable intangible assets, net
Current Assets:
Intangible assets, net	$ 13,724	$ 14,643

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 28, 2020	Dec. 29, 2019
Common Stock
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	10,203,821	10,203,821
Treasury stock, shares (in shares)	3,062,374	3,062,374
Class B Common Stock
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	2,860,356	2,860,356
Treasury stock, shares (in shares)	628,114	628,114

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Net income	$ 58,214	$ 11,278
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense from property, plant and equipment and financing leases	74,878	79,316
Amortization of intangible assets and deferred proceeds, net	11,518	11,512
Fair value adjustment of acquisition related contingent consideration	15,260	43,268
Loss on sale of property, plant and equipment	1,416	4,324
Deferred income taxes	21,670	4,017
Impairment of property, plant and equipment	1,350	1,155
Stock compensation expense	0	2,045
Amortization of debt costs	494	752
Change in current assets less current liabilities	20,935	(78,842)
Change in other noncurrent assets	13,420	5,228
Change in other noncurrent liabilities	9,848	4,071
Other	0	462
Total adjustments	170,789	77,308
Net cash provided by operating activities	229,003	88,586
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(72,886)	(57,581)
Other distribution agreements	0	(4,654)
Investment in CONA Services LLC	(1,582)	(486)
Proceeds from the sale of property, plant and equipment	1,764	823
Net cash used in investing activities	(72,704)	(61,898)
Cash Flows from Financing Activities:
Payments on revolving credit facility	(280,000)	(186,339)
Borrowings under revolving credit facility	235,000	206,339
Payments on term loan facility and senior notes	(15,000)	(132,500)
Proceeds from issuance of senior notes	0	100,000
Payments of acquisition related contingent consideration	(20,531)	(12,836)
Cash dividends paid	(4,686)	(4,682)
Payments on financing lease obligations	(3,001)	(4,261)
Debt issuance fees	(145)	(265)
Net cash used in financing activities	(88,363)	(34,544)
Net increase (decrease) in cash during period	67,936	(7,856)
Cash at beginning of period	9,614	13,548
Cash at end of period	77,550	5,692
Significant non-cash investing and financing activities:
Right-of-use assets obtained in exchange for lease obligations	32,224	21,220
Additions to property, plant and equipment accrued and recorded in accounts payable, trade	11,900	10,292
Class B Common Stock
Significant non-cash investing and financing activities:
Issuance of Class B Common Stock in connection with stock award	$ 0	$ 4,776

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Class B Common Stock	Total Equity of Coca-Cola Consolidated, Inc.	Total Equity of Coca-Cola Consolidated, Inc.Common Stock	Total Equity of Coca-Cola Consolidated, Inc.Class B Common Stock	Common StockCommon Stock	Common StockClass B Common Stock	Capital in Excess of Par Value	Capital in Excess of Par ValueClass B Common Stock	Retained Earnings	Retained EarningsCommon Stock	Retained EarningsClass B Common Stock	Accumulated Other Comprehensive Loss	Treasury Stock - Common StockCommon Stock	Treasury Stock - Common StockClass B Common Stock	Non- controlling Interest
Beginning Balance at Dec. 30, 2018	$ 455,166			$ 358,187			$ 10,204	$ 2,839	$ 124,228		$ 359,435			$ (77,265)	$ (60,845)	$ (409)	$ 96,979
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	11,278			8,539							8,539						2,739
Other comprehensive income (loss), net of tax	1,171			1,171										1,171
Cash dividends paid: Common Stock ($0.50 per share)		$ (3,570)	$ (1,112)		$ (3,570)	$ (1,112)						$ (3,570)	$ (1,112)
Issuance of 19,224 shares of Class B Common Stock			4,776			4,776		21		$ 4,755
Reclassification of stranded tax effects											19,720			(19,720)
Ending Balance at Jun. 30, 2019	467,709			367,991			10,204	2,860	128,983		383,012			(95,814)	(60,845)	(409)	99,718
Beginning Balance at Mar. 31, 2019														(96,407)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16,856
Other comprehensive income (loss), net of tax	593
Cash dividends paid: Common Stock ($0.50 per share)		(1,785)	(558)
Ending Balance at Jun. 30, 2019	467,709			367,991			10,204	2,860	128,983		383,012			(95,814)	(60,845)	(409)	99,718
Beginning Balance at Dec. 29, 2019	451,116			346,952			10,204	2,860	128,983		381,161			(115,002)	(60,845)	(409)	104,164
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	58,214			54,231							54,231						3,983
Other comprehensive income (loss), net of tax	921			921										921
Cash dividends paid: Common Stock ($0.50 per share)		(3,571)	(1,115)		$ (3,571)	$ (1,115)						$ (3,571)	$ (1,115)
Ending Balance at Jun. 28, 2020	505,565			397,418			10,204	2,860	128,983		430,706			(114,081)	(60,845)	(409)	108,147
Beginning Balance at Mar. 29, 2020														(115,052)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	42,613
Other comprehensive income (loss), net of tax	971
Cash dividends paid: Common Stock ($0.50 per share)		$ (1,785)	$ (557)
Ending Balance at Jun. 28, 2020	$ 505,565			$ 397,418			$ 10,204	$ 2,860	$ 128,983		$ 430,706			$ (114,081)	$ (60,845)	$ (409)	$ 108,147

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical)	6 Months Ended
	Jun. 30, 2019$ / sharesshares
Common Stock
Cash dividend per share (in dollars per share)	$ 0.50
Class B Common Stock
Cash dividend per share (in dollars per share)	$ 0.50
Class B common stock shares issued (in shares) | shares	19,224

Critical Accounting Policies an

Critical Accounting Policies and Recent Accounting Pronouncements	6 Months Ended
	Jun. 28, 2020
Accounting Policies [Abstract]
Critical Accounting Policies and Recent Accounting Pronouncements	Critical Accounting Policies and Recent Accounting Pronouncements The condensed consolidated financial statements include the accounts of Coca-Cola Consolidated, Inc. and its majority-owned subsidiaries (the “Company”). All significant intercompany accounts and transactions have been eliminated. The condensed consolidated financial statements reflect all adjustments, including normal, recurring accruals, which, in the opinion of management, are necessary for a fair statement of the results for the interim periods presented: • The financial position as of June 28, 2020 and December 29, 2019. • The results of operations and comprehensive income for the 13-week periods ended June 28, 2020 (the “second quarter” of fiscal 2020 (“2020”)) and June 30, 2019 (the “second quarter” of fiscal 2019 (“2019”)), and the 26-week periods ended June 28, 2020 (the “first half” of 2020) and June 30, 2019 (the “first half” of 2019). • The changes in cash flows and equity for the first half of 2020 and the first half of 2019. The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. The accounting policies followed in the presentation of interim financial results are consistent with those followed on an annual basis. These policies are presented in Note 1 to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for 2019 filed with the Securities and Exchange Commission. The preparation of condensed consolidated financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Critical Accounting Policies In the ordinary course of business, the Company has made a number of estimates and assumptions relating to the reporting of results of operations and financial position in the preparation of its condensed consolidated financial statements in conformity with GAAP. Actual results could differ significantly from those estimates under different assumptions and conditions. The Company included in its Annual Report on Form 10-K for 2019 under the caption “Discussion of Critical Accounting Policies and Estimates and Recent Accounting Pronouncements” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” a discussion of the Company’s most critical accounting policies, which are those the Company believes to be the most important to the portrayal of its financial condition and results of operations and require management’s most difficult, subjective and complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Any changes in critical accounting policies and estimates are discussed with the Audit Committee of the Board of Directors of the Company during the quarter in which a change is contemplated and prior to making such change. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement,” which removes, modifies and adds certain disclosure requirements in Accounting Standards Codification Topic 820, Fair Value Measurement. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Certain amendments must be applied prospectively while others are to be applied on a retrospective basis to all periods presented. The Company adopted ASU 2018-13 in the first quarter of 2020. See Note 14 for additional information. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes,” which will simplify the accounting for income taxes by removing certain exceptions to the general principles in income tax accounting and improve consistent application of and simplify GAAP for other areas of income tax accounting by clarifying and amending existing guidance. The new guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2019-12 will have on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “Compensation - Retirement Benefits - Defined Benefit Plans - General (Sub-topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” which is effective for fiscal years ending after December 15, 2020. Under this guidance, disclosures will be removed for the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year, the amount and timing of assets expected to be returned to the employer, certain related party disclosures, and the effects of a one-percentage-point change in the assumed health care cost trend rates. Additional disclosures will include the weighted average interest crediting rate for plans with promised crediting interest rates and an explanation of the reasons for significant gains and losses related to the benefit obligation for the period.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 28, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Coca-Cola Company The Company’s business consists primarily of the production, marketing and distribution of nonalcoholic beverages of The Coca-Cola Company, which is the sole owner of the formulas under which the primary components of its soft drink products, either concentrate or syrup, are manufactured. J. Frank Harrison, III, the Chairman of the Board of Directors and Chief Executive Officer of the Company, together with the trustees of certain trusts established for the benefit of certain relatives of the late J. Frank Harrison, Jr., control shares representing approximately 86% of the total voting power of the Company’s total outstanding Common Stock and Class B Common Stock on a consolidated basis. As of June 28, 2020, The Coca-Cola Company owned approximately 27% of the Company’s total outstanding Common Stock and Class B Common Stock on a consolidated basis, representing approximately 5% of the total voting power of the Company’s Common Stock and Class B Common Stock voting together. As long as The Coca-Cola Company holds the number of shares of the Company’s Common Stock it currently owns, it has the right to have its designee proposed by the Company for nomination to the Company’s Board of Directors, and J. Frank Harrison, III and the trustees of the J. Frank Harrison, Jr. family trusts described above, have agreed to vote the shares of the Company’s Class B Common Stock which they control in favor of such designee. The Coca-Cola Company does not own any shares of the Company’s Class B Common Stock. The following table summarizes the significant transactions between the Company and The Coca-Cola Company: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Payments made by the Company to The Coca-Cola Company for: Concentrate, syrup, sweetener and other purchases $ 264,595 $ 344,841 $ 549,515 $ 611,484 Customer marketing programs 32,400 39,221 65,391 72,513 Cold drink equipment parts 4,039 7,067 10,380 14,049 Brand investment programs 3,988 3,473 7,250 6,593 Payments made by The Coca-Cola Company to the Company for: Marketing funding support payments $ 15,449 $ 26,311 $ 36,995 $ 49,023 Fountain delivery and equipment repair fees 6,345 9,885 15,435 20,634 Presence marketing funding support on the Company’s behalf 4,145 4,502 5,880 4,937 Facilitating the distribution of certain brands and packages to other Coca-Cola bottlers 1,161 1,351 2,318 2,350 In fiscal 2017, The Coca-Cola Company agreed to provide the Company a fee to compensate the Company for the net economic impact of changes made by The Coca-Cola Company to the authorized pricing on sales of covered beverages produced at certain manufacturing facilities owned by the Company (the “Legacy Facilities Credit”). The Company immediately recognized the portion of the Legacy Facilities Credit applicable to a regional manufacturing facility divested in fiscal 2017 and the remaining balance of the Legacy Facilities Credit will be amortized as a reduction to cost of sales over a period of 40 years. The portion of the deferred liability that is expected to be amortized in the next 12 months is classified as current. Coca-Cola Refreshments USA, Inc. (“CCR”) The Company, The Coca-Cola Company and CCR, a wholly owned subsidiary of The Coca-Cola Company, entered into a comprehensive beverage agreement on March 31, 2017 (as amended, the “CBA”). Pursuant to the CBA, the Company is required to make quarterly sub-bottling payments to CCR on a continuing basis in exchange for the grant of exclusive rights to distribute, promote, market and sell the authorized brands of The Coca-Cola Company and related products in certain distribution territories the Company acquired from CCR. These sub-bottling payments are based on gross profit derived from sales of certain beverages and beverage products that are sold under the same trademarks that identify a covered beverage, beverage product or certain cross-licensed brands. Sub-bottling payments to CCR were $20.5 million during the first half of 2020 and $12.8 million during the first half of 2019. The following table summarizes the liability recorded by the Company to reflect the estimated fair value of contingent consideration related to future sub-bottling payments to CCR: (in thousands) June 28, 2020 December 29, 2019 Current portion of acquisition related contingent consideration $ 34,388 $ 41,087 Noncurrent portion of acquisition related contingent consideration 406,725 405,597 Total acquisition related contingent consideration $ 441,113 $ 446,684 Upon the conversion of the Company’s then-existing bottling agreements in fiscal 2017 pursuant to the CBA, the Company received a fee from CCR (the “Territory Conversion Fee”). The Territory Conversion Fee was recorded as a deferred liability and will be amortized as a reduction to cost of sales over a period of 40 years. The portion of the deferred liability that is expected to be amortized in the next 12 months is classified as current. Southeastern Container (“Southeastern”) The Company is a shareholder of Southeastern, a plastic bottle manufacturing cooperative. The Company accounts for Southeastern as an equity method investment. The Company’s investment in Southeastern, which was classified as other assets in the condensed consolidated balance sheets, was $22.6 million as of June 28, 2020 and $23.2 million as of December 29, 2019. South Atlantic Canners, Inc. (“SAC”) The Company is a shareholder of SAC, a manufacturing cooperative in Bishopville, South Carolina. All of SAC’s shareholders are Coca-Cola bottlers and each has equal voting rights. The Company accounts for SAC as an equity method investment. The Company’s investment in SAC, which was classified as other assets in the condensed consolidated balance sheets, was $8.0 million as of June 28, 2020 and $8.2 million as of December 29, 2019. The Company receives a fee for managing the day-to-day operations of SAC pursuant to a management agreement. Proceeds from management fees received from SAC, which were classified as a reduction to cost of sales in the condensed consolidated statements of operations, were $4.7 million in the first half of 2020 and $4.5 million in the first half of 2019. Coca-Cola Bottlers’ Sales and Services Company, LLC (“CCBSS”) Along with other Coca-Cola bottlers in the United States and Canada, the Company is a member of CCBSS, a company formed to provide certain procurement and other services with the intention of enhancing the efficiency and competitiveness of the Coca-Cola bottling system. The Company accounts for CCBSS as an equity method investment and its investment in CCBSS is not material. CCBSS negotiates the procurement for the majority of the Company’s raw materials, excluding concentrate, and the Company receives a rebate from CCBSS for the purchase of these raw materials. The Company had rebates due from CCBSS of $12.4 million on June 28, 2020 and $10.0 million on December 29, 2019, which were classified as accounts receivable, other in the condensed consolidated balance sheets. In addition, the Company pays an administrative fee to CCBSS for its services. The Company incurred administrative fees to CCBSS of $1.6 million in the first half of 2020 and $1.0 million in the first half of 2019, which were classified as selling, delivery and administrative (“SD&A”) expenses in the condensed consolidated statements of operations. CONA Services LLC (“CONA”) The Company is a member of CONA, an entity formed with The Coca-Cola Company and certain other Coca-Cola bottlers to provide business process and information technology services to its members. The Company accounts for CONA as an equity method investment. The Company’s investment in CONA, which was classified as other assets in the condensed consolidated balance sheets, was $11.3 million as of June 28, 2020 and $10.5 million as of December 29, 2019. Pursuant to an amended and restated master services agreement with CONA, the Company is authorized to use the Coke One North America system (the “CONA System”), a uniform information technology system developed to promote operational efficiency and uniformity among North American Coca-Cola bottlers. In exchange for the Company’s rights to use the CONA System and receive CONA-related services, it is charged service fees by CONA. The Company incurred CONA service fees of $11.6 million in the first half of 2020 and $11.5 million in the first half of 2019. Related Party Leases The Company leases its headquarters office facility and an adjacent office facility in Charlotte, North Carolina from Beacon Investment Corporation (“Beacon”), of which J. Frank Harrison, III, Chairman of the Board of Directors and Chief Executive Officer of the Company, is the majority stockholder and Morgan H. Everett, Vice Chair of the Companys Board of Directors, is a minority stockholder. During the first quarter of 2020, the Company entered into a new lease agreement, effective January 1, 2020, with Beacon to continue to lease its corporate facilities. The new lease expires on December 31, 2029. The principal balance outstanding under the new lease was $31.8 million on June 28, 2020 and the principal balance outstanding under the previous lease, which was replaced by the new lease, was $6.8 million on December 29, 2019. See Note 9 for additional information. The Company leases the Snyder Production Center and an adjacent sales facility in Charlotte, North Carolina from Harrison Limited Partnership One (“HLP”), which is directly and indirectly owned by trusts of which J. Frank Harrison, III and Sue Anne H. Wells, a director of the Company, are trustees and beneficiaries and of which Morgan H. Everett is a permissible, discretionary beneficiary. The principal balance outstanding under this lease was $2.2 million on June 28, 2020 and $4.3 million on December 29, 2019. Subsequent to quarter end, the Company entered into an amendment to this lease, effective June 30, 2020, with HLP to continue to lease its production facility in Charlotte, North Carolina. The amendment extended the term of the original lease agreement by 15 years from December 31, 2020 through December 31, 2035. This lease will continue to be classified as a financing lease and the additional lease liability associated with this lease commitment is $60.1 million. A summary of rental payments related to these leases is as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Company headquarters $ 826 $ 1,151 $ 1,652 $ 2,261 Snyder Production Center 1,113 1,081 2,226 2,161 Long-Term Performance Equity Plan The Long-Term Performance Equity Plan compensates J. Frank Harrison, III based on the Company’s performance. Awards granted under the Long-Term Performance Equity Plan are earned based on the Company’s attainment during a performance period of certain performance measures, each as specified by the Compensation Committee of the Company’s Board of Directors. These awards may be settled in cash and/or shares of the Company’s Class B Common Stock, based on the average of the closing prices of the Company’s Common Stock during the last 20 trading days of the performance period. Compensation expense for the Long-Term Performance Equity Plan, which is included in SD&A expenses in the condensed consolidated statements of operations, was $4.3 million in the first half of 2020 and $6.7 million in the first half of 2019.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 28, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company offers a range of nonalcoholic beverage products and flavors designed to meet the demands of its consumers, including both sparkling and still beverages. Sparkling beverages are carbonated beverages and the Company’s principal sparkling beverage is Coca-Cola. Still beverages include energy products and noncarbonated beverages such as bottled water, tea, ready to drink coffee, enhanced water, juices and sports drinks. The Company’s products are sold and distributed in the United States through various channels, which include selling directly to retail stores and other outlets such as food markets, institutional accounts and vending machine outlets. The Company typically collects payment from customers within 30 days from the date of sale. The Company’s sales are divided into two main categories: (i) bottle/can sales and (ii) other sales. Bottle/can sales include products packaged primarily in plastic bottles and aluminum cans. Bottle/can net pricing is based on the invoice price charged to customers reduced by any promotional allowances. Bottle/can net pricing per unit is impacted by the price charged per package, the sales volume generated for each package and the channels in which those packages are sold. Other sales include sales to other Coca-Cola bottlers, “post-mix” products, transportation revenue and equipment maintenance revenue. Post-mix products are dispensed through equipment that mixes fountain syrups with carbonated or still water, enabling fountain retailers to sell finished products to consumers in cups or glasses. The Company’s contracts are derived from customer orders, including customer sales incentives, generated through an order processing and replenishment model. Generally, the Company’s service contracts and contracts related to the delivery of specifically identifiable products have a single performance obligation. Revenues do not include sales or other taxes collected from customers. The Company has defined its performance obligations for its contracts as either at a point in time or over time. Bottle/can sales, sales to other Coca-Cola bottlers and post-mix sales are recognized when control transfers to a customer, which is generally upon delivery and is considered a single point in time (“point in time”). Point in time sales accounted for approximately 97% of the Company’s net sales in the first half of 2020 and approximately 96% of the Company’s net sales in the first half of 2019. Substantially all of the Company’s revenue is recognized at a point in time and is included in the Nonalcoholic Beverages segment. Other sales, which include revenue for service fees related to the repair of cold drink equipment and delivery fees for freight hauling and brokerage services, are recognized over time (“over time”). Revenues related to cold drink equipment repair are recognized as the respective services are completed using a cost-to-cost input method. Repair services are generally completed in less than one day but can extend up to one month. Revenues related to freight hauling and brokerage services are recognized as the delivery occurs using a miles driven output method. Generally, delivery occurs and freight charges are recognized in the same day. Over time sales orders open at the end of a financial period are not material to the condensed consolidated financial statements. The following table represents a disaggregation of revenue from contracts with customers: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Point in time net sales: Nonalcoholic Beverages - point in time $ 1,188,485 $ 1,227,977 $ 2,320,960 $ 2,288,248 Total point in time net sales $ 1,188,485 $ 1,227,977 $ 2,320,960 $ 2,288,248 Over time net sales: Nonalcoholic Beverages - over time $ 7,039 $ 10,908 $ 17,145 $ 22,864 All Other - over time 31,691 34,774 62,131 65,459 Total over time net sales $ 38,730 $ 45,682 $ 79,276 $ 88,323 Total net sales $ 1,227,215 $ 1,273,659 $ 2,400,236 $ 2,376,571 The Company participates in various sales programs with The Coca-Cola Company, other beverage companies and customers to increase the sale of its products. Programs negotiated with customers include arrangements under which allowances can be earned for attaining agreed-upon sales levels. The cost of these various sales incentives is not considered a separate performance obligation and is included as a deduction to net sales. Allowance payments made to customers can be conditional on the achievement of volume targets and/or marketing commitments. Payments made in advance are recorded as prepayments and amortized in the condensed consolidated statements of operations over the relevant period for which the customer commitment is made. In the event there is no separate identifiable benefit or the fair value of such benefit cannot be established, the amortization of the prepayment is included as a deduction to net sales. The Company sells its products and extends credit, generally without requiring collateral, based on an ongoing evaluation of the customer’s business prospects and financial condition. The Company evaluates the collectability of its trade accounts receivable based on a number of factors, including the Company’s historic collections pattern and changes to a specific customer’s ability to meet its financial obligations. The Company has established an allowance for doubtful accounts to adjust the recorded receivable to the estimated amount the Company believes will ultimately be collected. The nature of the Company’s contracts gives rise to several types of variable consideration, including prospective and retrospective rebates. The Company accounts for its prospective and retrospective rebates using the expected value method, which estimates the net price to the customer based on the customer’s expected annual sales volume projections. The Company experiences customer returns primarily as a result of damaged or out-of-date product. At any given time, the Company estimates less than 1% of bottle/can sales and post-mix sales could be at risk for return by customers. The Company’s reserve for customer returns, which was classified as allowance for doubtful accounts in the condensed consolidated balance sheets, was $3.6 million as of both June 28, 2020 and December 29, 2019. Returned product is recognized as a reduction to net sales. The Company recognizes an allowance for credit losses related to its accounts receivable to present the net amount expected to be collected at the balance sheet date. The Company estimates this allowance based on historical data such as days' sales outstanding trends, previous write-offs of balances, and monthly reviews of aged trial balances, among others. Accounts receivable balances are written off when deemed uncollectible and are recognized as a deduction from the allowance for credit losses. Expected recoveries, not to exceed the amount previously written off, are considered in determining the reserve balance at the balance sheet date. Below is a summary of activity for the allowance for credit losses as of the end of the first half of 2020: (in thousands) Allowance for Credit Losses to Accounts Receivable Balance at December 29, 2019 $ 10,232 Additions charged to costs and expenses 9,376 Write-offs, net of recoveries (1,914) Balance at June 28, 2020 $ 17,694 The additions to the allowance for credit losses for the first half of 2020 include a $5.0 million adjustment to address the COVID-19-related collectability risk primarily for our on-premise customers.

Segments

Segments	6 Months Ended
	Jun. 28, 2020
Segment Reporting [Abstract]
Segments	Segments The Company evaluates segment reporting in accordance with the FASB Accounting Standards Codification Topic 280, Segment Reporting, each reporting period, including evaluating the reporting package reviewed by the Chief Operating Decision Maker (the “CODM”). The Company has concluded the Chief Executive Officer, the Chief Operating Officer and the Chief Financial Officer, as a group, represent the CODM. Asset information is not provided to the CODM. The Company believes three operating segments exist. Nonalcoholic Beverages represents the vast majority of the Company’s consolidated revenues and income from operations. The additional two operating segments do not meet the quantitative thresholds for separate reporting, either individually or in the aggregate, and, therefore, have been combined into “All Other.” The Company’s segment results are as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Net sales: Nonalcoholic Beverages $ 1,195,524 $ 1,238,885 $ 2,338,105 $ 2,311,112 All Other 80,329 94,942 161,630 182,857 Eliminations (1) (48,638) (60,168) (99,499) (117,398) Consolidated net sales $ 1,227,215 $ 1,273,659 $ 2,400,236 $ 2,376,571 Income from operations: Nonalcoholic Beverages $ 83,907 $ 57,724 $ 119,524 $ 72,365 All Other (789) 9,490 (3,585) 15,003 Consolidated income from operations $ 83,118 $ 67,214 $ 115,939 $ 87,368 Depreciation and amortization: Nonalcoholic Beverages $ 39,909 $ 42,568 $ 80,667 $ 85,919 All Other 2,928 2,488 5,729 4,909 Consolidated depreciation and amortization $ 42,837 $ 45,056 $ 86,396 $ 90,828 (1) The entire net sales elimination for each period presented represents net sales from the All Other segment to the Nonalcoholic Beverages segment. Sales between these segments are recognized at either fair market value or cost depending on the nature of the transaction .

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 28, 2020
Earnings Per Share [Abstract]
Net Income Per Share	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) 2020 2019 2020 2019 Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: Net income attributable to Coca-Cola Consolidated, Inc. $ 39,569 $ 15,370 $ 54,231 $ 8,539 Less dividends: Common Stock 1,785 1,785 3,571 3,570 Class B Common Stock 557 558 1,115 1,112 Total undistributed earnings $ 37,227 $ 13,027 $ 49,545 $ 3,857 Common Stock undistributed earnings – basic $ 28,362 $ 9,925 $ 37,747 $ 2,941 Class B Common Stock undistributed earnings – basic 8,865 3,102 11,798 916 Total undistributed earnings – basic $ 37,227 $ 13,027 $ 49,545 $ 3,857 Common Stock undistributed earnings – diluted $ 28,161 $ 9,874 $ 37,479 $ 2,925 Class B Common Stock undistributed earnings – diluted 9,066 3,153 12,066 932 Total undistributed earnings – diluted $ 37,227 $ 13,027 $ 49,545 $ 3,857 Numerator for basic net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,785 $ 3,571 $ 3,570 Common Stock undistributed earnings – basic 28,362 9,925 37,747 2,941 Numerator for basic net income per Common Stock share $ 30,147 $ 11,710 $ 41,318 $ 6,511 Numerator for basic net income per Class B Common Stock share: Dividends on Class B Common Stock $ 557 $ 558 $ 1,115 $ 1,112 Class B Common Stock undistributed earnings – basic 8,865 3,102 11,798 916 Numerator for basic net income per Class B Common Stock share $ 9,422 $ 3,660 $ 12,913 $ 2,028 Numerator for diluted net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,785 $ 3,571 $ 3,570 Dividends on Class B Common Stock assumed converted to Common Stock 557 558 1,115 1,112 Common Stock undistributed earnings – diluted 37,227 13,027 49,545 3,857 Numerator for diluted net income per Common Stock share $ 39,569 $ 15,370 $ 54,231 $ 8,539 Second Quarter First Half (in thousands, except per share data) 2020 2019 2020 2019 Numerator for diluted net income per Class B Common Stock share: Dividends on Class B Common Stock $ 557 $ 558 $ 1,115 $ 1,112 Class B Common Stock undistributed earnings – diluted 9,066 3,153 12,066 932 Numerator for diluted net income per Class B Common Stock share $ 9,623 $ 3,711 $ 13,181 $ 2,044 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 2,232 2,232 2,232 2,225 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) 9,440 9,421 9,440 9,415 Class B Common Stock weighted average shares outstanding – diluted 2,299 2,280 2,299 2,274 Basic net income per share: Common Stock $ 4.23 $ 1.64 $ 5.79 $ 0.91 Class B Common Stock $ 4.23 $ 1.64 $ 5.79 $ 0.91 Diluted net income per share: Common Stock $ 4.19 $ 1.64 $ 5.74 $ 0.91 Class B Common Stock $ 4.18 $ 1.63 $ 5.73 $ 0.90 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) For periods presented during which the Company has net income, the denominator for diluted net income per share for Common Stock and Class B Common Stock included the dilutive effect of shares relative to the Long-Term Performance Equity Plan . For periods presented during which the Company has net loss, the unvested performance units granted pursuant to the Long-Term Performance Equity Plan are excluded from the calculation of diluted net loss per share, as the effect of these awards would be anti-dilutive. See Note 2 for additional information on the Long-Term Performance Equity Plan . (4) The Long-Term Performance Equity Plan awards may be settled in cash and/or shares of the Company’s Class B Common Stock. Once an election has been made to settle an award in cash, the dilutive effect of shares relative to such award is prospectively removed from the denominator for the calculation of diluted net income per share. (5) The Company did not have anti-dilutive shares for any periods presented.

Inventories

Inventories	6 Months Ended
	Jun. 28, 2020
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Finished products $ 134,731 $ 142,363 Manufacturing materials 40,436 45,267 Plastic shells, plastic pallets and other inventories 35,961 38,296 Total inventories $ 211,128 $ 225,926

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	6 Months Ended
	Jun. 28, 2020
Prepaid Expense and Other Assets [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Repair parts $ 28,994 $ 28,967 Prepaid software 6,494 5,850 Prepaid marketing 6,314 5,658 Prepaid taxes 5,138 4,359 Prepayments for sponsorship contracts 3,412 8,696 Other prepaid expenses and other current assets 21,818 15,931 Total prepaid expenses and other current assets $ 72,170 $ 69,461

Property, Plant and Equipment,

Property, Plant and Equipment, Net	6 Months Ended
	Jun. 28, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net The principal categories and estimated useful lives of property, plant and equipment, net were as follows: (in thousands) June 28, 2020 December 29, 2019 Estimated Useful Lives Land $ 83,168 $ 76,860 Buildings 225,665 223,500 8-50 years Machinery and equipment 357,535 355,575 5-20 years Transportation equipment 421,858 417,532 4-20 years Furniture and fixtures 94,918 92,059 3-10 years Cold drink dispensing equipment 479,272 489,050 5-17 years Leasehold and land improvements 148,204 145,341 5-20 years Software for internal use 129,646 128,792 3-10 years Construction in progress 46,850 29,369 Total property, plant and equipment, at cost 1,987,116 1,958,078 Less: Accumulated depreciation and amortization 1,001,938 960,675 Property, plant and equipment, net $ 985,178 $ 997,403

Leases

Leases	6 Months Ended
	Jun. 28, 2020
Leases [Abstract]
Leases	Leases The Company leases office and warehouse space, machinery and other equipment under noncancelable operating lease agreements and also leases certain warehouse space under financing lease agreements. The Company uses the following policies and assumptions to evaluate its population of leases: • Determining a lease: The Company assesses contracts at inception to determine whether an arrangement is or includes a lease, which conveys the Company’s right to control the use of an identified asset for a period of time in exchange for consideration. Operating lease right-of-use assets and associated liabilities are recognized at the commencement date and initially measured based on the present value of lease payments over the defined lease term. • Allocating lease and non-lease components: The Company has elected the practical expedient to not separate lease and non-lease components for certain classes of underlying assets. The Company has equipment and vehicle lease agreements, which generally have the lease and associated non-lease components accounted for as a single lease component. The Company has real estate lease agreements with lease and non-lease components, which are generally accounted for separately where applicable. • Calculating the discount rate: The Company calculates the discount rate based on the discount rate implicit in the lease, or if the implicit rate is not readily determinable from the lease, then the Company calculates an incremental borrowing rate using a portfolio approach. The incremental borrowing rate is calculated using the contractual lease term and the Company’s borrowing rate. • Recognizing leases: The Company does not recognize leases with a contractual term of less than 12 months on its condensed consolidated balance sheets. Lease expense for these short-term leases is expensed on a straight-line basis over the lease term. • Including rent increases or escalation clauses: Certain leases contain scheduled rent increases or escalation clauses, which can be based on the Consumer Price Index or other rates. The Company assesses each contract individually and applies the appropriate variable payments based on the terms of the agreement. • Including renewal options and/or purchase options: Certain leases include renewal options to extend the lease term and/or purchase options to purchase the leased asset. The Company assesses these options using a threshold of reasonably certain, which is a high threshold and, therefore, the majority of the Company’s leases do not include renewal periods or purchase options for the measurement of the right-of-use asset and the associated lease liability. For leases the Company is reasonably certain to renew or purchase, those options are included within the lease term and, therefore, included in the measurement of the right-of-use asset and the associated lease liability. • Including options to terminate: Certain leases include the option to terminate the lease prior to its scheduled expiration. This allows a contractually bound party to terminate its obligation under the lease contract, typically in return for an agreed-upon financial consideration. The terms and conditions of the termination options vary by contract. • Including residual value guarantees, restrictions or covenants: The Company’s lease agreements do not contain residual value guarantees, restrictions or covenants. Following is a summary of the weighted average remaining lease term and weighted average discount rate for the Company’s population of leases: June 28, 2020 December 29, 2019 Weighted average remaining lease term: Operating leases 10.0 years 10.2 years Financing leases 5.8 years 4.8 years Weighted average discount rate: Operating leases 4.1 % 4.1 % Financing leases 5.5 % 5.7 % During the first quarter of 2020, the Company entered into a lease agreement, effective January 1, 2020, with Beacon to continue to lease its headquarters office facility and an adjacent office facility in Charlotte, North Carolina. The new lease has a 10-year term and expires on December 31, 2029. This lease is classified as an operating lease and the additional lease liability associated with this lease was $31.8 million as of June 28, 2020. This lease replaced the previous lease agreement, which was classified as a financing lease and was scheduled to expire on December 31, 2021, and had a $6.8 million principal balance outstanding as of December 29, 2019. As of June 28, 2020, the Company had two real estate lease commitments that had not yet commenced. The Company amended an existing lease agreement, effective July 6, 2020, to continue to lease its warehouse in North Charleston, South Carolina. The amendment extended the term of the original lease agreement by three years from April 5, 2027 through April 5, 2030. This lease will continue to be classified as an operating lease and the additional lease liability associated with this lease commitment is expected to be $0.8 million. The Company amended an existing lease agreement, effective June 30, 2020, with HLP to continue to lease its production facility in Charlotte, North Carolina. The amendment extended the term of the original lease agreement by 15 years from December 31, 2020 through December 31, 2035. This lease will continue to be classified as a financing lease and the additional lease liability associated with this lease commitment is $60.1 million. Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of operations: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Cost of sales impact: Operating lease costs $ 1,385 $ 1,342 $ 2,770 $ 2,683 Short-term and variable leases 3,057 2,317 5,657 4,579 Depreciation expense from financing leases 353 354 707 707 Total cost of sales impact $ 4,795 $ 4,013 $ 9,134 $ 7,969 SD&A expenses impact: Operating lease costs $ 4,710 $ 3,026 $ 9,379 $ 5,922 Short-term and variable leases 451 779 1,341 1,838 Depreciation expense from financing leases 571 1,137 1,142 2,276 Total SD&A expenses impact $ 5,732 $ 4,942 $ 11,862 $ 10,036 Interest expense, net impact: Interest expense on financing lease obligations $ 241 $ 715 $ 507 $ 1,417 Total interest expense, net impact $ 241 $ 715 $ 507 $ 1,417 Total lease cost $ 10,768 $ 9,670 $ 21,503 $ 19,422 The future minimum lease payments related to the Company’s lease portfolio include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2020 : (in thousands) Operating Financing Total Remainder of 2020 $ 11,371 $ 3,518 $ 14,889 2021 21,017 2,628 23,645 2022 18,264 2,694 20,958 2023 15,971 2,750 18,721 2024 15,326 2,808 18,134 Thereafter 90,229 5,407 95,636 Total minimum lease payments including interest $ 172,178 $ 19,805 $ 191,983 Less: Amounts representing interest 32,523 2,786 35,309 Present value of minimum lease principal payments 139,655 17,019 156,674 Less: Current portion of lease liabilities - operating and financing leases 17,602 4,070 21,672 Noncurrent portion of lease liabilities - operating and financing leases $ 122,053 $ 12,949 $ 135,002 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019: (in thousands) Operating Financing Total 2020 $ 19,236 $ 10,611 $ 29,847 2021 16,815 6,215 23,030 2022 14,016 2,694 16,710 2023 11,704 2,750 14,454 2024 10,989 2,808 13,797 Thereafter 67,556 5,406 72,962 Total minimum lease payments including interest $ 140,316 $ 30,484 $ 170,800 Less: Amounts representing interest 27,527 3,678 31,205 Present value of minimum lease principal payments 112,789 26,806 139,595 Less: Current portion of lease liabilities - operating and financing leases 15,024 9,403 24,427 Noncurrent portion of lease liabilities - operating and financing leases $ 97,765 $ 17,403 $ 115,168 Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of cash flows: First Half (in thousands) 2020 2019 Cash flows from operating activities impact: Operating leases $ 8,633 $ 8,515 Interest payments on financing lease obligations 507 1,417 Total cash flows from operating activities impact $ 9,140 $ 9,932 Cash flows from financing activities impact: Principal payments on financing lease obligations $ 3,001 $ 4,261 Total cash flows from financing activities impact $ 3,001 $ 4,261
Leases	Leases The Company leases office and warehouse space, machinery and other equipment under noncancelable operating lease agreements and also leases certain warehouse space under financing lease agreements. The Company uses the following policies and assumptions to evaluate its population of leases: • Determining a lease: The Company assesses contracts at inception to determine whether an arrangement is or includes a lease, which conveys the Company’s right to control the use of an identified asset for a period of time in exchange for consideration. Operating lease right-of-use assets and associated liabilities are recognized at the commencement date and initially measured based on the present value of lease payments over the defined lease term. • Allocating lease and non-lease components: The Company has elected the practical expedient to not separate lease and non-lease components for certain classes of underlying assets. The Company has equipment and vehicle lease agreements, which generally have the lease and associated non-lease components accounted for as a single lease component. The Company has real estate lease agreements with lease and non-lease components, which are generally accounted for separately where applicable. • Calculating the discount rate: The Company calculates the discount rate based on the discount rate implicit in the lease, or if the implicit rate is not readily determinable from the lease, then the Company calculates an incremental borrowing rate using a portfolio approach. The incremental borrowing rate is calculated using the contractual lease term and the Company’s borrowing rate. • Recognizing leases: The Company does not recognize leases with a contractual term of less than 12 months on its condensed consolidated balance sheets. Lease expense for these short-term leases is expensed on a straight-line basis over the lease term. • Including rent increases or escalation clauses: Certain leases contain scheduled rent increases or escalation clauses, which can be based on the Consumer Price Index or other rates. The Company assesses each contract individually and applies the appropriate variable payments based on the terms of the agreement. • Including renewal options and/or purchase options: Certain leases include renewal options to extend the lease term and/or purchase options to purchase the leased asset. The Company assesses these options using a threshold of reasonably certain, which is a high threshold and, therefore, the majority of the Company’s leases do not include renewal periods or purchase options for the measurement of the right-of-use asset and the associated lease liability. For leases the Company is reasonably certain to renew or purchase, those options are included within the lease term and, therefore, included in the measurement of the right-of-use asset and the associated lease liability. • Including options to terminate: Certain leases include the option to terminate the lease prior to its scheduled expiration. This allows a contractually bound party to terminate its obligation under the lease contract, typically in return for an agreed-upon financial consideration. The terms and conditions of the termination options vary by contract. • Including residual value guarantees, restrictions or covenants: The Company’s lease agreements do not contain residual value guarantees, restrictions or covenants. Following is a summary of the weighted average remaining lease term and weighted average discount rate for the Company’s population of leases: June 28, 2020 December 29, 2019 Weighted average remaining lease term: Operating leases 10.0 years 10.2 years Financing leases 5.8 years 4.8 years Weighted average discount rate: Operating leases 4.1 % 4.1 % Financing leases 5.5 % 5.7 % During the first quarter of 2020, the Company entered into a lease agreement, effective January 1, 2020, with Beacon to continue to lease its headquarters office facility and an adjacent office facility in Charlotte, North Carolina. The new lease has a 10-year term and expires on December 31, 2029. This lease is classified as an operating lease and the additional lease liability associated with this lease was $31.8 million as of June 28, 2020. This lease replaced the previous lease agreement, which was classified as a financing lease and was scheduled to expire on December 31, 2021, and had a $6.8 million principal balance outstanding as of December 29, 2019. As of June 28, 2020, the Company had two real estate lease commitments that had not yet commenced. The Company amended an existing lease agreement, effective July 6, 2020, to continue to lease its warehouse in North Charleston, South Carolina. The amendment extended the term of the original lease agreement by three years from April 5, 2027 through April 5, 2030. This lease will continue to be classified as an operating lease and the additional lease liability associated with this lease commitment is expected to be $0.8 million. The Company amended an existing lease agreement, effective June 30, 2020, with HLP to continue to lease its production facility in Charlotte, North Carolina. The amendment extended the term of the original lease agreement by 15 years from December 31, 2020 through December 31, 2035. This lease will continue to be classified as a financing lease and the additional lease liability associated with this lease commitment is $60.1 million. Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of operations: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Cost of sales impact: Operating lease costs $ 1,385 $ 1,342 $ 2,770 $ 2,683 Short-term and variable leases 3,057 2,317 5,657 4,579 Depreciation expense from financing leases 353 354 707 707 Total cost of sales impact $ 4,795 $ 4,013 $ 9,134 $ 7,969 SD&A expenses impact: Operating lease costs $ 4,710 $ 3,026 $ 9,379 $ 5,922 Short-term and variable leases 451 779 1,341 1,838 Depreciation expense from financing leases 571 1,137 1,142 2,276 Total SD&A expenses impact $ 5,732 $ 4,942 $ 11,862 $ 10,036 Interest expense, net impact: Interest expense on financing lease obligations $ 241 $ 715 $ 507 $ 1,417 Total interest expense, net impact $ 241 $ 715 $ 507 $ 1,417 Total lease cost $ 10,768 $ 9,670 $ 21,503 $ 19,422 The future minimum lease payments related to the Company’s lease portfolio include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2020 : (in thousands) Operating Financing Total Remainder of 2020 $ 11,371 $ 3,518 $ 14,889 2021 21,017 2,628 23,645 2022 18,264 2,694 20,958 2023 15,971 2,750 18,721 2024 15,326 2,808 18,134 Thereafter 90,229 5,407 95,636 Total minimum lease payments including interest $ 172,178 $ 19,805 $ 191,983 Less: Amounts representing interest 32,523 2,786 35,309 Present value of minimum lease principal payments 139,655 17,019 156,674 Less: Current portion of lease liabilities - operating and financing leases 17,602 4,070 21,672 Noncurrent portion of lease liabilities - operating and financing leases $ 122,053 $ 12,949 $ 135,002 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019: (in thousands) Operating Financing Total 2020 $ 19,236 $ 10,611 $ 29,847 2021 16,815 6,215 23,030 2022 14,016 2,694 16,710 2023 11,704 2,750 14,454 2024 10,989 2,808 13,797 Thereafter 67,556 5,406 72,962 Total minimum lease payments including interest $ 140,316 $ 30,484 $ 170,800 Less: Amounts representing interest 27,527 3,678 31,205 Present value of minimum lease principal payments 112,789 26,806 139,595 Less: Current portion of lease liabilities - operating and financing leases 15,024 9,403 24,427 Noncurrent portion of lease liabilities - operating and financing leases $ 97,765 $ 17,403 $ 115,168 Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of cash flows: First Half (in thousands) 2020 2019 Cash flows from operating activities impact: Operating leases $ 8,633 $ 8,515 Interest payments on financing lease obligations 507 1,417 Total cash flows from operating activities impact $ 9,140 $ 9,932 Cash flows from financing activities impact: Principal payments on financing lease obligations $ 3,001 $ 4,261 Total cash flows from financing activities impact $ 3,001 $ 4,261

Distribution Agreements, Net

Distribution Agreements, Net	6 Months Ended
	Jun. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Distribution Agreements, Net	Distribution Agreements, Net Distribution agreements, net, which are amortized on a straight-line basis and have an estimated useful life of 10 to 40 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Distribution agreements at cost $ 950,549 $ 950,549 Less: Accumulated amortization 86,595 74,453 Distribution agreements, net $ 863,954 $ 876,096 Customer lists and other identifiable intangible assets, net, which are amortized on a straight-line basis and have an estimated useful life of 5 to 12 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Customer lists and other identifiable intangible assets at cost $ 25,288 $ 25,288 Less: Accumulated amortization 11,564 10,645 Customer lists and other identifiable intangible assets, net $ 13,724 $ 14,643

Customer Lists and Other Identi

Customer Lists and Other Identifiable Intangible Assets, Net	6 Months Ended
	Jun. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Customer Lists and Other Identifiable Intangible Assets, Net	Distribution Agreements, Net Distribution agreements, net, which are amortized on a straight-line basis and have an estimated useful life of 10 to 40 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Distribution agreements at cost $ 950,549 $ 950,549 Less: Accumulated amortization 86,595 74,453 Distribution agreements, net $ 863,954 $ 876,096 Customer lists and other identifiable intangible assets, net, which are amortized on a straight-line basis and have an estimated useful life of 5 to 12 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Customer lists and other identifiable intangible assets at cost $ 25,288 $ 25,288 Less: Accumulated amortization 11,564 10,645 Customer lists and other identifiable intangible assets, net $ 13,724 $ 14,643

Other Accrued Liabilities

Other Accrued Liabilities	6 Months Ended
	Jun. 28, 2020
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Accrued insurance costs $ 47,629 $ 44,584 Current portion of acquisition related contingent consideration 34,388 41,087 Accrued marketing costs 34,346 34,947 Employee and retiree benefit plan accruals 29,752 33,699 Accrued taxes (other than income taxes) 10,061 6,366 Commodity hedges at fair market value 2,918 1,174 Checks and transfers yet to be presented for payment from zero balance cash accounts 2,412 20,199 Current deferred proceeds from Territory Conversion Fee 2,286 2,286 Federal income taxes — 1,651 All other accrued expenses 26,226 22,841 Total other accrued liabilities $ 190,018 $ 208,834

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company is subject to the risk of increased costs arising from adverse changes in certain commodity prices. In the normal course of business, the Company manages these risks through a variety of strategies, including the use of derivative instruments. The Company does not use derivative instruments for trading or speculative purposes. All derivative instruments are recorded at fair value as either assets or liabilities in the condensed consolidated balance sheets. These derivative instruments are not designated as hedging instruments under GAAP and are used as “economic hedges” to manage certain commodity price risk. Derivative instruments held are marked to market on a monthly basis and recognized in earnings consistent with the expense classification of the underlying hedged item. Settlements of derivative agreements are included in cash flows from operating activities in the condensed consolidated statements of cash flows. The Company uses several different financial institutions for commodity derivative instruments to minimize the concentration of credit risk. While the Company would be exposed to credit loss in the event of nonperformance by these counterparties, the Company does not anticipate nonperformance by these parties. The following table summarizes pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification of such changes in the condensed consolidated statements of operations: Second Quarter First Half (in thousands) Classification of Gain (Loss) 2020 2019 2020 2019 Commodity hedges Cost of sales $ 1,266 $ (4,874) $ (270) $ (969) Commodity hedges Selling, delivery and administrative expenses 805 (66) (1,524) 2,649 Total gain (loss) $ 2,071 $ (4,940) $ (1,794) $ 1,680 The following table summarizes the fair values and classification in the condensed consolidated balance sheets of derivative instruments held by the Company: (in thousands) Balance Sheet Classification June 28, 2020 December 29, 2019 Assets: Commodity hedges at fair market value Prepaid expenses and other current assets $ 823 $ 1,007 Total assets $ 823 $ 1,007 Liabilities: Commodity hedges at fair market value Other accrued liabilities $ 2,918 $ 1,174 Total liabilities $ 2,918 $ 1,174 The Company has master agreements with the counterparties to its derivative financial agreements that provide for net settlement of derivative transactions. Accordingly, the net amounts of derivative assets are recognized in either prepaid expenses and other current assets or other assets in the condensed consolidated balance sheets and the net amounts of derivative liabilities are recognized in other accrued liabilities or other liabilities in the condensed consolidated balance sheets. The following table summarizes the Company’s gross derivative assets and gross derivative liabilities in the condensed consolidated balance sheets: (in thousands) June 28, 2020 December 29, 2019 Gross derivative assets $ 904 $ 3,298 Gross derivative liabilities 2,999 3,465 The following table summarizes the Company’s outstanding commodity derivative agreements: (in thousands) June 28, 2020 December 29, 2019 Notional amount of outstanding commodity derivative agreements $ 123,428 $ 171,699 Latest maturity date of outstanding commodity derivative agreements December 2020 December 2020

Fair Values of Financial Instru

Fair Values of Financial Instruments	6 Months Ended
	Jun. 28, 2020
Fair Value Disclosures [Abstract]
Fair Values of Financial Instruments	Fair Values of Financial Instruments GAAP requires assets and liabilities carried at fair value to be classified and disclosed in one of the following categories: • Level 1: Quoted market prices in active markets for identical assets or liabilities. • Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. • Level 3: Unobservable inputs that are not corroborated by market data. The following methods and assumptions were used by the Company in estimating the fair values of its financial instruments. There were no transfers of assets or liabilities between levels in any period presented. Financial Instrument Fair Value Level Methods and Assumptions Deferred compensation plan assets and liabilities Level 1 The fair value of the Company’s non-qualified deferred compensation plan for certain executives and other highly compensated employees is based on the fair values of associated assets and liabilities, which are held in mutual funds and are based on the quoted market value of the securities held within the mutual funds. Commodity hedging agreements Level 2 The fair values of the Company’s commodity hedging agreements are based on current settlement values at each balance sheet date. The fair values of the commodity hedging agreements at each balance sheet date represent the estimated amounts the Company would have received or paid upon termination of these agreements. The Company’s credit risk related to the derivative financial instruments is managed by requiring high standards for its counterparties and periodic settlements. The Company considers nonperformance risk in determining the fair values of derivative financial instruments. Nonpublic variable rate debt Level 2 The carrying amounts of the Company’s nonpublic variable rate debt approximate their fair values due to variable interest rates with short reset periods. Nonpublic fixed rate debt Level 2 The fair values of the Company’s nonpublic fixed rate debt are based on estimated current market prices. Public debt securities Level 2 The fair values of the Company’s public debt securities are based on estimated current market prices. Acquisition related contingent consideration Level 3 The fair values of acquisition related contingent consideration are based on internal forecasts and the weighted average cost of capital (“WACC”) derived from market data. The following tables summarize, by assets and liabilities, the carrying amounts and fair values by level of the Company’s deferred compensation plan, commodity hedging agreements, debt and acquisition related contingent consideration: June 28, 2020 (in thousands) Carrying Amount Total Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets: Deferred compensation plan assets $ 43,904 $ 43,904 $ 43,904 $ — $ — Commodity hedging agreements 823 823 — 823 — Liabilities: Deferred compensation plan liabilities 43,904 43,904 43,904 — — Commodity hedging agreements 2,918 2,918 — 2,918 — Nonpublic variable rate debt 247,338 247,500 — 247,500 — Nonpublic fixed rate debt 374,734 391,700 — 391,700 — Public debt securities 348,102 385,000 — 385,000 — Acquisition related contingent consideration 441,113 441,113 — — 441,113 December 29, 2019 (in thousands) Carrying Amount Total Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets: Deferred compensation plan assets $ 42,543 $ 42,543 $ 42,543 $ — $ — Commodity hedging agreements 1,007 1,007 — 1,007 — Liabilities: Deferred compensation plan liabilities 42,543 42,543 42,543 — — Commodity hedging agreements 1,174 1,174 — 1,174 — Nonpublic variable rate debt 307,250 307,500 — 307,500 — Nonpublic fixed rate debt 374,723 383,900 — 383,900 — Public debt securities 347,947 367,300 — 367,300 — Acquisition related contingent consideration 446,684 446,684 — — 446,684 The acquisition related contingent consideration is valued using a probability weighted discounted cash flow model based on internal forecasts and the WACC derived from market data, which are considered Level 3 inputs. Each reporting period, the Company adjusts its acquisition related contingent consideration liability related to the distribution territories to fair value by discounting future expected sub-bottling payments required under the CBA using the Company’s estimated WACC. The future expected sub-bottling payments extend through the life of the applicable distribution assets acquired from CCR, which is generally 40 years. As a result, the fair value of the acquisition related contingent consideration liability is impacted by the Company’s WACC, management’s estimate of the amounts that will be paid in the future under the CBA, and current sub-bottling payments (all Level 3 inputs). Changes in any of these Level 3 inputs, particularly the underlying risk-free interest rate used to estimate the Company’s WACC, could result in material changes to the fair value of the acquisition related contingent consideration and could materially impact the amount of non-cash income or expense recorded each reporting period. The acquisition related contingent consideration liability is the Company’s only Level 3 asset or liability. A reconciliation of the Level 3 activity is as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Beginning balance - Level 3 liability $ 437,094 $ 393,007 $ 446,684 $ 382,898 Payments of acquisition related contingent consideration (10,079) (6,599) (20,531) (12,836) Reclassification to current payables (450) (3,180) (300) (880) Increase in fair value 14,548 29,222 15,260 43,268 Ending balance - Level 3 liability $ 441,113 $ 412,450 $ 441,113 $ 412,450 The increase in the fair value of the acquisition related contingent consideration liability during the first half of 2020 was primarily driven by changes in future cash flow projections of the distribution territories subject to sub-bottling fees, partially offset by an increase in the discount rate used to calculate the fair values. The increase in the fair value of the acquisition related contingent consideration liability during the first half of 2019 was primarily driven by a decrease in the discount rate and changes in future cash flow projections of the distribution territories subject to sub-bottling fees. These fair value adjustments were recorded in other expense, net in the condensed consolidated statements of operations. The anticipated amount the Company could pay annually under acquisition related contingent consideration arrangements is expected to be in the range of $28 million to $52 million.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate, calculated by dividing income tax expense by income before income taxes, was 26.1% for the first half of 2020 and 27.0% for the first half of 2019. The decrease in the effective income tax rate was primarily driven by improved financial results and the extension of certain tax credits in 2020. The Company’s effective income tax rate, calculated by dividing income tax expense by income before income taxes minus net income attributable to noncontrolling interest, was 27.5% for the first half of 2020 and 32.8% for the first half of 2019. The Company had uncertain tax positions, including accrued interest, of $3.4 million on June 28, 2020 and $2.5 million on December 29, 2019, all of which would affect the Company’s effective income tax rate if recognized. While it is expected the amount of uncertain tax positions may change in the next 12 months, the Company does not expect such change would have a significant impact on the condensed consolidated financial statements. Prior tax years beginning in year 2002 remain open to examination by the Internal Revenue Service, and various tax years beginning in year 1998 remain open to examination by certain state taxing authorities.

Pension and Postretirement Bene

Pension and Postretirement Benefit Obligations	6 Months Ended
	Jun. 28, 2020
Retirement Benefits [Abstract]
Pension and Postretirement Benefit Obligations	Pension and Postretirement Benefit Obligations Pension Plans There are two Company-sponsored pension plans. The primary Company-sponsored pension plan was frozen as of June 30, 2006 and no benefits accrued to participants after this date. The second Company-sponsored pension plan (the “Bargaining Plan”) is for certain employees under collective bargaining agreements. Benefits under the Bargaining Plan are determined in accordance with negotiated formulas for the respective participants. Contributions to the plans are based on actuarially determined amounts and are limited to the amounts currently deductible for income tax purposes. The components of net periodic pension cost were as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Service cost $ 1,658 $ 1,206 $ 3,317 $ 2,413 Interest cost 2,760 3,062 5,520 6,125 Expected return on plan assets (3,383) (2,574) (6,766) (5,148) Recognized net actuarial loss 1,190 900 2,379 1,801 Amortization of prior service cost 4 7 9 12 Net periodic pension cost $ 2,229 $ 2,601 $ 4,459 $ 5,203 The Company did not make any contributions to the two Company-sponsored pension plans during the first half of 2020. Contributions to the two Company-sponsored pension plans are expected to be in the range of $8 million to $12 million for the remainder of 2020. Postretirement Benefits The Company provides postretirement benefits for employees meeting specified criteria . The Company recognizes the cost of postretirement benefits, which consist principally of medical benefits, during employees’ periods of active service. The Company does not pre-fund these benefits and has the right to modify or terminate certain of these benefits in the future. The components of net periodic postretirement benefit cost were as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Service cost $ 376 $ 389 $ 752 $ 778 Interest cost 504 693 1,007 1,386 Recognized net actuarial loss 87 195 175 391 Amortization of prior service cost — (322) — (646) Net periodic postretirement benefit cost $ 967 $ 955 $ 1,934 $ 1,909

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 28, 2020
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Noncurrent portion of acquisition related contingent consideration $ 406,725 $ 405,597 Accruals for executive benefit plans 135,001 141,380 Noncurrent deferred proceeds from Territory Conversion Fee 81,733 82,877 Noncurrent deferred proceeds from Legacy Facilities Credit 29,170 29,569 Deferral of payroll taxes under CARES Act 13,128 — Other 8,912 9,143 Total other liabilities $ 674,669 $ 668,566

Debt

Debt	6 Months Ended
	Jun. 28, 2020
Debt Disclosure [Abstract]
Debt	Debt Following is a summary of the Company’s debt: (in thousands) Maturity Interest Interest Public or June 28, December 29, Term loan facility (1) 6/7/2021 Variable Varies Nonpublic $ 247,500 $ 262,500 Senior notes 2/27/2023 3.28% Semi-annually Nonpublic 125,000 125,000 Revolving credit facility (2) 6/8/2023 Variable Varies Nonpublic — 45,000 Senior notes 11/25/2025 3.80% Semi-annually Public 350,000 350,000 Senior notes 10/10/2026 3.93% Quarterly Nonpublic 100,000 100,000 Senior notes 3/21/2030 3.96% Quarterly Nonpublic 150,000 150,000 Unamortized discount on senior notes (3) 11/25/2025 (48) (52) Debt issuance costs (2,278) (2,528) Long-term debt $ 970,174 $ 1,029,920 (1) The Company intends to refinance principal payments due in the next 12 months under the term loan facility, and has the capacity to do so under its revolving credit facility, which is classified as long-term debt. As such, any amounts due in the next 12 months were classified as noncurrent. (2) The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million, which may be increased at the Company’s option to $750 million, subject to obtaining commitments from the lenders and satisfying other conditions specified in the credit agreement. The Company currently believes all banks participating in the revolving credit facility have the ability to and will meet any funding requests from the Company. (3) The senior notes due in 2025 were issued at 99.975% of par. The Company mitigates its financing risk by using multiple financial institutions and only entering into credit arrangements with institutions with investment grade credit ratings. The Company monitors counterparty credit ratings on an ongoing basis. In 2019, the Company entered into a $100 million fixed rate swap maturing June 7, 2021, to hedge a portion of the interest rate risk on the Company’s term loan facility. This interest rate swap is designated as a cash flow hedging instrument and changes in its fair value are not expected to be material to the condensed consolidated balance sheets. Changes in the fair value of this interest rate swap were classified as accumulated other comprehensive loss on the condensed consolidated balance sheets and included in the condensed consolidated statements of comprehensive income. The indentures under which the Company’s public debt was issued do not include financial covenants but do limit the incurrence of certain liens and encumbrances as well as indebtedness by the Company’s subsidiaries in excess of certain amounts. The agreements under which the Company’s nonpublic debt was issued include two financial covenants: a consolidated cash flow/fixed charges ratio and a consolidated funded indebtedness/cash flow ratio, each as defined in the respective agreements. The Company was in compliance with these covenants as of June 28, 2020. These covenants do not currently, and the Company does not anticipate they will, restrict its liquidity or capital resources. All outstanding long-term debt has been issued by the Company and none has been issued by any of its subsidiaries. There are no guarantees of the Company’s debt.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Manufacturing Cooperatives The Company is obligated to purchase at least 80% of its requirements of plastic bottles for certain designated territories from Southeastern. The Company is also obligated to purchase 17.5 million cases of finished product from SAC on an annual basis through June 2024. The Company purchased 15.1 million cases and 14.3 million cases of finished product from SAC in the first half of 2020 and the first half of 2019, respectively. The following table summarizes the Company’s purchases from these manufacturing cooperatives: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Purchases from Southeastern $ 32,611 $ 36,614 $ 63,639 $ 70,940 Purchases from SAC 40,385 39,993 82,219 77,439 Total purchases from manufacturing cooperatives $ 72,996 $ 76,607 $ 145,858 $ 148,379 The Company guarantees a portion of SAC’s debt, which expires at various dates through 2024. The amount guaranteed was $14.7 million on both June 28, 2020 and December 29, 2019. In the event SAC fails to fulfill its commitments under the related debt, the Company would be responsible for payment to the lenders up to the level of the guarantee. The Company does not anticipate SAC will fail to fulfill its commitments related to the debt. The Company further believes SAC has sufficient assets, including production equipment, facilities and working capital, and the ability to adjust selling prices of its products to adequately mitigate the risk of material loss from the Company’s guarantee. The Company holds no assets as collateral against the SAC guarantee, the fair value of which is immaterial to the condensed consolidated financial statements. The Company monitors its investment in SAC and would be required to write down its investment if an impairment was identified and the Company determined it to be other than temporary. No impairment of the Company’s investment in SAC was identified as of June 28, 2020, and there was no impairment identified in 2019. Other Commitments and Contingencies The Company has standby letters of credit, primarily related to its property and casualty insurance programs. These letters of credit totaled $37.6 million on June 28, 2020 and $35.6 million on December 29, 2019. The Company participates in long-term marketing contractual arrangements with certain prestige properties, athletic venues and other locations. As of June 28, 2020, the future payments related to these contractual arrangements, which expire at various dates through 2033, amounted to $178.1 million. The Company is involved in various claims and legal proceedings which have arisen in the ordinary course of its business. Although it is difficult to predict the ultimate outcome of these claims and legal proceedings, management believes that the ultimate disposition of these matters will not have a material adverse effect on the financial condition, results of operations or cash flows of the Company. No material amount of loss in excess of recorded amounts is believed to be reasonably possible as a result of these claims and legal proceedings. The Company is subject to audits by tax authorities in jurisdictions where it conducts business. These audits may result in assessments that are subsequently resolved with the authorities or potentially through the courts. Management believes the Company has adequately provided for any assessments likely to result from these audits; however, final assessments, if any, could be different than the amounts recorded in the condensed consolidated financial statements.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Accumulated other comprehensive income (loss) (“AOCI(L)”) is comprised of adjustments relative to the Company’s pension and postretirement medical benefit plans and foreign currency translation adjustments required for a subsidiary of the Company that performs data analysis and provides consulting services outside the United States. A summary of AOCI(L) for the second quarter of 2020 and the second quarter of 2019 is as follows: (in thousands) March 29, 2020 Pre-tax Activity Tax Effect June 28, 2020 Net pension activity: Actuarial loss $ (92,278) $ 1,190 $ (293) $ (91,381) Prior service costs (3) 4 (1) — Net postretirement benefits activity: Actuarial loss (1,125) 87 (21) (1,059) Prior service costs (624) — — (624) Interest rate swap (1,285) 3 (1) (1,283) Foreign currency translation adjustment (17) 4 (1) (14) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (115,052) $ 1,288 $ (317) $ (114,081) (in thousands) March 31, 2019 Pre-tax Activity Tax Effect June 30, 2019 Net pension activity: Actuarial loss $ (72,011) $ 900 $ (221) $ (71,332) Prior service costs (20) 7 (2) (15) Net postretirement benefits activity: Actuarial loss (4,754) 195 (48) (4,607) Prior service costs 107 (322) 79 (136) Foreign currency translation adjustment (9) 7 (2) (4) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (96,407) $ 787 $ (194) $ (95,814) A summary of AOCI(L) for the first half of 2020 and the first half of 2019 is as follows: (in thousands) December 29, 2019 Pre-tax Activity Tax Effect June 28, 2020 Net pension activity: Actuarial loss $ (93,174) $ 2,379 $ (586) $ (91,381) Prior service costs (7) 9 (2) — Net postretirement benefits activity: Actuarial loss (1,191) 175 (43) (1,059) Prior service costs (624) — — (624) Interest rate swap (270) (1,344) 331 (1,283) Foreign currency translation adjustment (16) 3 (1) (14) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (115,002) $ 1,222 $ (301) $ (114,081) (in thousands) December 30, 2018 Pre-tax Activity Tax Effect June 30, 2019 Net pension activity: Actuarial loss $ (72,690) $ 1,801 $ (443) $ (71,332) Prior service costs (24) 12 (3) (15) Net postretirement benefits activity: Actuarial loss (4,902) 391 (96) (4,607) Prior service costs 351 (646) 159 (136) Foreign currency translation adjustment — (3) (1) (4) Reclassification of stranded tax effects — — (19,720) (19,720) Total AOCI(L) $ (77,265) $ 1,555 $ (20,104) $ (95,814) A summary of the impact of AOCI(L) on certain statements of operations line items is as follows: Second Quarter 2020 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 360 $ 57 $ — $ — $ 417 Selling, delivery and administrative expenses 834 30 3 4 871 Subtotal pre-tax 1,194 87 3 4 1,288 Income tax expense 294 21 1 1 317 Total after tax effect $ 900 $ 66 $ 2 $ 3 $ 971 Second Quarter 2019 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 266 $ (66) $ — $ — $ 200 Selling, delivery and administrative expenses 641 (61) — 7 587 Subtotal pre-tax 907 (127) — 7 787 Income tax expense (benefit) 223 (31) — 2 194 Total after tax effect $ 684 $ (96) $ — $ 5 $ 593 First Half 2020 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 694 $ 105 $ — $ — $ 799 Selling, delivery and administrative expenses 1,694 70 (1,344) 3 423 Subtotal pre-tax 2,388 175 (1,344) 3 1,222 Income tax expense (benefit) 588 43 (331) 1 301 Total after tax effect $ 1,800 $ 132 $ (1,013) $ 2 $ 921 First Half 2019 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 529 $ (133) $ — $ — $ 396 Selling, delivery and administrative expenses 1,284 (122) — (3) 1,159 Subtotal pre-tax 1,813 (255) — (3) 1,555 Income tax expense (benefit) 446 (63) — 1 384 Total after tax effect $ 1,367 $ (192) $ — $ (4) $ 1,171

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	6 Months Ended
	Jun. 28, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	Supplemental Disclosures of Cash Flow Information Changes in current assets and current liabilities affecting cash flows were as follows: First Half (in thousands) 2020 2019 Accounts receivable, trade, net $ (30,948) $ (20,374) Accounts receivable from The Coca-Cola Company 14,319 (23,273) Accounts receivable, other 3,676 (8,199) Inventories 14,798 (20,865) Prepaid expenses and other current assets (2,709) (2,408) Accounts payable, trade 37,015 32,761 Accounts payable to The Coca-Cola Company 31,081 28,237 Other accrued liabilities (20,160) (52,688) Accrued compensation (25,645) (10,256) Accrued interest payable (492) (1,777) Change in current assets less current liabilities $ 20,935 $ (78,842)

Critical Accounting Policies _2

Critical Accounting Policies and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 28, 2020
Accounting Policies [Abstract]
Critical Accounting Policies	Critical Accounting Policies In the ordinary course of business, the Company has made a number of estimates and assumptions relating to the reporting of results of operations and financial position in the preparation of its condensed consolidated financial statements in conformity with GAAP. Actual results could differ significantly from those estimates under different assumptions and conditions. The Company included in its Annual Report on Form 10-K for 2019 under the caption “Discussion of Critical Accounting Policies and Estimates and Recent Accounting Pronouncements” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” a discussion of the Company’s most critical accounting policies, which are those the Company believes to be the most important to the portrayal of its financial condition and results of operations and require management’s most difficult, subjective and complex judgments, often as a result of the need to make estimates about the effect of matters that are inherently uncertain. Any changes in critical accounting policies and estimates are discussed with the Audit Committee of the Board of Directors of the Company during the quarter in which a change is contemplated and prior to making such change.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Measurement of Credit Losses on Financial Instruments,” which requires measurement and recognition of expected credit losses at the point a loss is probable to occur, rather than expected to occur, which will generally result in earlier recognition of allowances for credit losses. The new guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted ASU 2016-13 in the first quarter of 2020 and the adoption did not have a material impact on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement,” which removes, modifies and adds certain disclosure requirements in Accounting Standards Codification Topic 820, Fair Value Measurement. This ASU is effective for annual and interim reporting periods beginning after December 15, 2019. Certain amendments must be applied prospectively while others are to be applied on a retrospective basis to all periods presented. The Company adopted ASU 2018-13 in the first quarter of 2020. See Note 14 for additional information. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes,” which will simplify the accounting for income taxes by removing certain exceptions to the general principles in income tax accounting and improve consistent application of and simplify GAAP for other areas of income tax accounting by clarifying and amending existing guidance. The new guidance is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2019-12 will have on its condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “Compensation - Retirement Benefits - Defined Benefit Plans - General (Sub-topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans,” which is effective for fiscal years ending after December 15, 2020. Under this guidance, disclosures will be removed for the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year, the amount and timing of assets expected to be returned to the employer, certain related party disclosures, and the effects of a one-percentage-point change in the assumed health care cost trend rates. Additional disclosures will include the weighted average interest crediting rate for plans with promised crediting interest rates and an explanation of the reasons for significant gains and losses related to the benefit obligation for the period.
Revenue Recognition	The Company’s products are sold and distributed in the United States through various channels, which include selling directly to retail stores and other outlets such as food markets, institutional accounts and vending machine outlets. The Company typically collects payment from customers within 30 days from the date of sale. The Company’s sales are divided into two main categories: (i) bottle/can sales and (ii) other sales. Bottle/can sales include products packaged primarily in plastic bottles and aluminum cans. Bottle/can net pricing is based on the invoice price charged to customers reduced by any promotional allowances. Bottle/can net pricing per unit is impacted by the price charged per package, the sales volume generated for each package and the channels in which those packages are sold. Other sales include sales to other Coca-Cola bottlers, “post-mix” products, transportation revenue and equipment maintenance revenue. Post-mix products are dispensed through equipment that mixes fountain syrups with carbonated or still water, enabling fountain retailers to sell finished products to consumers in cups or glasses. The Company’s contracts are derived from customer orders, including customer sales incentives, generated through an order processing and replenishment model. Generally, the Company’s service contracts and contracts related to the delivery of specifically identifiable products have a single performance obligation. Revenues do not include sales or other taxes collected from customers. The Company has defined its performance obligations for its contracts as either at a point in time or over time. Bottle/can sales, sales to other Coca-Cola bottlers and post-mix sales are recognized when control transfers to a customer, which is generally upon delivery and is considered a single point in time (“point in time”). Point in time sales accounted for approximately 97% of the Company’s net sales in the first half of 2020 and approximately 96% of the Company’s net sales in the first half of 2019. Substantially all of the Company’s revenue is recognized at a point in time and is included in the Nonalcoholic Beverages segment. Other sales, which include revenue for service fees related to the repair of cold drink equipment and delivery fees for freight hauling and brokerage services, are recognized over time (“over time”). Revenues related to cold drink equipment repair are The Company participates in various sales programs with The Coca-Cola Company, other beverage companies and customers to increase the sale of its products. Programs negotiated with customers include arrangements under which allowances can be earned for attaining agreed-upon sales levels. The cost of these various sales incentives is not considered a separate performance obligation and is included as a deduction to net sales. Allowance payments made to customers can be conditional on the achievement of volume targets and/or marketing commitments. Payments made in advance are recorded as prepayments and amortized in the condensed consolidated statements of operations over the relevant period for which the customer commitment is made. In the event there is no separate identifiable benefit or the fair value of such benefit cannot be established, the amortization of the prepayment is included as a deduction to net sales. The Company sells its products and extends credit, generally without requiring collateral, based on an ongoing evaluation of the customer’s business prospects and financial condition. The Company evaluates the collectability of its trade accounts receivable based on a number of factors, including the Company’s historic collections pattern and changes to a specific customer’s ability to meet its financial obligations. The Company has established an allowance for doubtful accounts to adjust the recorded receivable to the estimated amount the Company believes will ultimately be collected. The nature of the Company’s contracts gives rise to several types of variable consideration, including prospective and retrospective rebates. The Company accounts for its prospective and retrospective rebates using the expected value method, which estimates the net price to the customer based on the customer’s expected annual sales volume projections.
Lessees	The Company leases office and warehouse space, machinery and other equipment under noncancelable operating lease agreements and also leases certain warehouse space under financing lease agreements. The Company uses the following policies and assumptions to evaluate its population of leases: • Determining a lease: The Company assesses contracts at inception to determine whether an arrangement is or includes a lease, which conveys the Company’s right to control the use of an identified asset for a period of time in exchange for consideration. Operating lease right-of-use assets and associated liabilities are recognized at the commencement date and initially measured based on the present value of lease payments over the defined lease term. • Allocating lease and non-lease components: The Company has elected the practical expedient to not separate lease and non-lease components for certain classes of underlying assets. The Company has equipment and vehicle lease agreements, which generally have the lease and associated non-lease components accounted for as a single lease component. The Company has real estate lease agreements with lease and non-lease components, which are generally accounted for separately where applicable. • Calculating the discount rate: The Company calculates the discount rate based on the discount rate implicit in the lease, or if the implicit rate is not readily determinable from the lease, then the Company calculates an incremental borrowing rate using a portfolio approach. The incremental borrowing rate is calculated using the contractual lease term and the Company’s borrowing rate. • Recognizing leases: The Company does not recognize leases with a contractual term of less than 12 months on its condensed consolidated balance sheets. Lease expense for these short-term leases is expensed on a straight-line basis over the lease term. • Including rent increases or escalation clauses: Certain leases contain scheduled rent increases or escalation clauses, which can be based on the Consumer Price Index or other rates. The Company assesses each contract individually and applies the appropriate variable payments based on the terms of the agreement. • Including renewal options and/or purchase options: Certain leases include renewal options to extend the lease term and/or purchase options to purchase the leased asset. The Company assesses these options using a threshold of reasonably certain, which is a high threshold and, therefore, the majority of the Company’s leases do not include renewal periods or purchase options for the measurement of the right-of-use asset and the associated lease liability. For leases the Company is reasonably certain to renew or purchase, those options are included within the lease term and, therefore, included in the measurement of the right-of-use asset and the associated lease liability. • Including options to terminate: Certain leases include the option to terminate the lease prior to its scheduled expiration. This allows a contractually bound party to terminate its obligation under the lease contract, typically in return for an agreed-upon financial consideration. The terms and conditions of the termination options vary by contract. • Including residual value guarantees, restrictions or covenants: The Company’s lease agreements do not contain residual value guarantees, restrictions or covenants.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 28, 2020
Related Party Transactions [Abstract]
Summary of Significant Transactions between Company and The Coca-Cola Company	The following table summarizes the significant transactions between the Company and The Coca-Cola Company: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Payments made by the Company to The Coca-Cola Company for: Concentrate, syrup, sweetener and other purchases $ 264,595 $ 344,841 $ 549,515 $ 611,484 Customer marketing programs 32,400 39,221 65,391 72,513 Cold drink equipment parts 4,039 7,067 10,380 14,049 Brand investment programs 3,988 3,473 7,250 6,593 Payments made by The Coca-Cola Company to the Company for: Marketing funding support payments $ 15,449 $ 26,311 $ 36,995 $ 49,023 Fountain delivery and equipment repair fees 6,345 9,885 15,435 20,634 Presence marketing funding support on the Company’s behalf 4,145 4,502 5,880 4,937 Facilitating the distribution of certain brands and packages to other Coca-Cola bottlers 1,161 1,351 2,318 2,350
Summary of Liability to Estimated Fair Value of Contingent Consideration	The following table summarizes the liability recorded by the Company to reflect the estimated fair value of contingent consideration related to future sub-bottling payments to CCR: (in thousands) June 28, 2020 December 29, 2019 Current portion of acquisition related contingent consideration $ 34,388 $ 41,087 Noncurrent portion of acquisition related contingent consideration 406,725 405,597 Total acquisition related contingent consideration $ 441,113 $ 446,684
Summary of Rental Payments Related to Leases	A summary of rental payments related to these leases is as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Company headquarters $ 826 $ 1,151 $ 1,652 $ 2,261 Snyder Production Center 1,113 1,081 2,226 2,161

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 28, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue from Contracts with Customers	The following table represents a disaggregation of revenue from contracts with customers: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Point in time net sales: Nonalcoholic Beverages - point in time $ 1,188,485 $ 1,227,977 $ 2,320,960 $ 2,288,248 Total point in time net sales $ 1,188,485 $ 1,227,977 $ 2,320,960 $ 2,288,248 Over time net sales: Nonalcoholic Beverages - over time $ 7,039 $ 10,908 $ 17,145 $ 22,864 All Other - over time 31,691 34,774 62,131 65,459 Total over time net sales $ 38,730 $ 45,682 $ 79,276 $ 88,323 Total net sales $ 1,227,215 $ 1,273,659 $ 2,400,236 $ 2,376,571
Summary of Activity for Allowance for Credit Losses	Below is a summary of activity for the allowance for credit losses as of the end of the first half of 2020: (in thousands) Allowance for Credit Losses to Accounts Receivable Balance at December 29, 2019 $ 10,232 Additions charged to costs and expenses 9,376 Write-offs, net of recoveries (1,914) Balance at June 28, 2020 $ 17,694

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 28, 2020
Segment Reporting [Abstract]
Summary of Financial Information by Segment	The Company’s segment results are as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Net sales: Nonalcoholic Beverages $ 1,195,524 $ 1,238,885 $ 2,338,105 $ 2,311,112 All Other 80,329 94,942 161,630 182,857 Eliminations (1) (48,638) (60,168) (99,499) (117,398) Consolidated net sales $ 1,227,215 $ 1,273,659 $ 2,400,236 $ 2,376,571 Income from operations: Nonalcoholic Beverages $ 83,907 $ 57,724 $ 119,524 $ 72,365 All Other (789) 9,490 (3,585) 15,003 Consolidated income from operations $ 83,118 $ 67,214 $ 115,939 $ 87,368 Depreciation and amortization: Nonalcoholic Beverages $ 39,909 $ 42,568 $ 80,667 $ 85,919 All Other 2,928 2,488 5,729 4,909 Consolidated depreciation and amortization $ 42,837 $ 45,056 $ 86,396 $ 90,828 (1) The entire net sales elimination for each period presented represents net sales from the All Other segment to the Nonalcoholic Beverages segment. Sales between these segments are recognized at either fair market value or cost depending on the nature of the transaction .

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 28, 2020
Earnings Per Share [Abstract]
Computation of Basic Net Income Per Share and Diluted 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) 2020 2019 2020 2019 Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: Net income attributable to Coca-Cola Consolidated, Inc. $ 39,569 $ 15,370 $ 54,231 $ 8,539 Less dividends: Common Stock 1,785 1,785 3,571 3,570 Class B Common Stock 557 558 1,115 1,112 Total undistributed earnings $ 37,227 $ 13,027 $ 49,545 $ 3,857 Common Stock undistributed earnings – basic $ 28,362 $ 9,925 $ 37,747 $ 2,941 Class B Common Stock undistributed earnings – basic 8,865 3,102 11,798 916 Total undistributed earnings – basic $ 37,227 $ 13,027 $ 49,545 $ 3,857 Common Stock undistributed earnings – diluted $ 28,161 $ 9,874 $ 37,479 $ 2,925 Class B Common Stock undistributed earnings – diluted 9,066 3,153 12,066 932 Total undistributed earnings – diluted $ 37,227 $ 13,027 $ 49,545 $ 3,857 Numerator for basic net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,785 $ 3,571 $ 3,570 Common Stock undistributed earnings – basic 28,362 9,925 37,747 2,941 Numerator for basic net income per Common Stock share $ 30,147 $ 11,710 $ 41,318 $ 6,511 Numerator for basic net income per Class B Common Stock share: Dividends on Class B Common Stock $ 557 $ 558 $ 1,115 $ 1,112 Class B Common Stock undistributed earnings – basic 8,865 3,102 11,798 916 Numerator for basic net income per Class B Common Stock share $ 9,422 $ 3,660 $ 12,913 $ 2,028 Numerator for diluted net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,785 $ 3,571 $ 3,570 Dividends on Class B Common Stock assumed converted to Common Stock 557 558 1,115 1,112 Common Stock undistributed earnings – diluted 37,227 13,027 49,545 3,857 Numerator for diluted net income per Common Stock share $ 39,569 $ 15,370 $ 54,231 $ 8,539 Second Quarter First Half (in thousands, except per share data) 2020 2019 2020 2019 Numerator for diluted net income per Class B Common Stock share: Dividends on Class B Common Stock $ 557 $ 558 $ 1,115 $ 1,112 Class B Common Stock undistributed earnings – diluted 9,066 3,153 12,066 932 Numerator for diluted net income per Class B Common Stock share $ 9,623 $ 3,711 $ 13,181 $ 2,044 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 2,232 2,232 2,232 2,225 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) 9,440 9,421 9,440 9,415 Class B Common Stock weighted average shares outstanding – diluted 2,299 2,280 2,299 2,274 Basic net income per share: Common Stock $ 4.23 $ 1.64 $ 5.79 $ 0.91 Class B Common Stock $ 4.23 $ 1.64 $ 5.79 $ 0.91 Diluted net income per share: Common Stock $ 4.19 $ 1.64 $ 5.74 $ 0.91 Class B Common Stock $ 4.18 $ 1.63 $ 5.73 $ 0.90 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) For periods presented during which the Company has net income, the denominator for diluted net income per share for Common Stock and Class B Common Stock included the dilutive effect of shares relative to the Long-Term Performance Equity Plan . For periods presented during which the Company has net loss, the unvested performance units granted pursuant to the Long-Term Performance Equity Plan are excluded from the calculation of diluted net loss per share, as the effect of these awards would be anti-dilutive. See Note 2 for additional information on the Long-Term Performance Equity Plan . (4) The Long-Term Performance Equity Plan awards may be settled in cash and/or shares of the Company’s Class B Common Stock. Once an election has been made to settle an award in cash, the dilutive effect of shares relative to such award is prospectively removed from the denominator for the calculation of diluted net income per share. (5) The Company did not have anti-dilutive shares for any periods presented.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 28, 2020
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Finished products $ 134,731 $ 142,363 Manufacturing materials 40,436 45,267 Plastic shells, plastic pallets and other inventories 35,961 38,296 Total inventories $ 211,128 $ 225,926

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	6 Months Ended
	Jun. 28, 2020
Prepaid Expense and Other Assets [Abstract]
Summary of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Repair parts $ 28,994 $ 28,967 Prepaid software 6,494 5,850 Prepaid marketing 6,314 5,658 Prepaid taxes 5,138 4,359 Prepayments for sponsorship contracts 3,412 8,696 Other prepaid expenses and other current assets 21,818 15,931 Total prepaid expenses and other current assets $ 72,170 $ 69,461

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	6 Months Ended
	Jun. 28, 2020
Property, Plant and Equipment [Abstract]
Principal Categories and Estimated Useful Lives of Property, Plant and Equipment, Net	The principal categories and estimated useful lives of property, plant and equipment, net were as follows: (in thousands) June 28, 2020 December 29, 2019 Estimated Useful Lives Land $ 83,168 $ 76,860 Buildings 225,665 223,500 8-50 years Machinery and equipment 357,535 355,575 5-20 years Transportation equipment 421,858 417,532 4-20 years Furniture and fixtures 94,918 92,059 3-10 years Cold drink dispensing equipment 479,272 489,050 5-17 years Leasehold and land improvements 148,204 145,341 5-20 years Software for internal use 129,646 128,792 3-10 years Construction in progress 46,850 29,369 Total property, plant and equipment, at cost 1,987,116 1,958,078 Less: Accumulated depreciation and amortization 1,001,938 960,675 Property, plant and equipment, net $ 985,178 $ 997,403

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 28, 2020
Leases [Abstract]
Summary of Weighted Average Remaining Lease Term and Discount Rate and Balances Related to Lease Portfolio within Condensed Consolidated Statement of Operations	Following is a summary of the weighted average remaining lease term and weighted average discount rate for the Company’s population of leases: June 28, 2020 December 29, 2019 Weighted average remaining lease term: Operating leases 10.0 years 10.2 years Financing leases 5.8 years 4.8 years Weighted average discount rate: Operating leases 4.1 % 4.1 % Financing leases 5.5 % 5.7 % Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of operations: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Cost of sales impact: Operating lease costs $ 1,385 $ 1,342 $ 2,770 $ 2,683 Short-term and variable leases 3,057 2,317 5,657 4,579 Depreciation expense from financing leases 353 354 707 707 Total cost of sales impact $ 4,795 $ 4,013 $ 9,134 $ 7,969 SD&A expenses impact: Operating lease costs $ 4,710 $ 3,026 $ 9,379 $ 5,922 Short-term and variable leases 451 779 1,341 1,838 Depreciation expense from financing leases 571 1,137 1,142 2,276 Total SD&A expenses impact $ 5,732 $ 4,942 $ 11,862 $ 10,036 Interest expense, net impact: Interest expense on financing lease obligations $ 241 $ 715 $ 507 $ 1,417 Total interest expense, net impact $ 241 $ 715 $ 507 $ 1,417 Total lease cost $ 10,768 $ 9,670 $ 21,503 $ 19,422
Summary of Future Minimum Lease Payments for Noncancelable Operating Leases	Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2020: (in thousands) Operating Financing Total Remainder of 2020 $ 11,371 $ 3,518 $ 14,889 2021 21,017 2,628 23,645 2022 18,264 2,694 20,958 2023 15,971 2,750 18,721 2024 15,326 2,808 18,134 Thereafter 90,229 5,407 95,636 Total minimum lease payments including interest $ 172,178 $ 19,805 $ 191,983 Less: Amounts representing interest 32,523 2,786 35,309 Present value of minimum lease principal payments 139,655 17,019 156,674 Less: Current portion of lease liabilities - operating and financing leases 17,602 4,070 21,672 Noncurrent portion of lease liabilities - operating and financing leases $ 122,053 $ 12,949 $ 135,002 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019: (in thousands) Operating Financing Total 2020 $ 19,236 $ 10,611 $ 29,847 2021 16,815 6,215 23,030 2022 14,016 2,694 16,710 2023 11,704 2,750 14,454 2024 10,989 2,808 13,797 Thereafter 67,556 5,406 72,962 Total minimum lease payments including interest $ 140,316 $ 30,484 $ 170,800 Less: Amounts representing interest 27,527 3,678 31,205 Present value of minimum lease principal payments 112,789 26,806 139,595 Less: Current portion of lease liabilities - operating and financing leases 15,024 9,403 24,427 Noncurrent portion of lease liabilities - operating and financing leases $ 97,765 $ 17,403 $ 115,168
Summary of Future Minimum Lease Payments for Noncancelable Finance Leases	Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of June 28, 2020: (in thousands) Operating Financing Total Remainder of 2020 $ 11,371 $ 3,518 $ 14,889 2021 21,017 2,628 23,645 2022 18,264 2,694 20,958 2023 15,971 2,750 18,721 2024 15,326 2,808 18,134 Thereafter 90,229 5,407 95,636 Total minimum lease payments including interest $ 172,178 $ 19,805 $ 191,983 Less: Amounts representing interest 32,523 2,786 35,309 Present value of minimum lease principal payments 139,655 17,019 156,674 Less: Current portion of lease liabilities - operating and financing leases 17,602 4,070 21,672 Noncurrent portion of lease liabilities - operating and financing leases $ 122,053 $ 12,949 $ 135,002 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 29, 2019: (in thousands) Operating Financing Total 2020 $ 19,236 $ 10,611 $ 29,847 2021 16,815 6,215 23,030 2022 14,016 2,694 16,710 2023 11,704 2,750 14,454 2024 10,989 2,808 13,797 Thereafter 67,556 5,406 72,962 Total minimum lease payments including interest $ 140,316 $ 30,484 $ 170,800 Less: Amounts representing interest 27,527 3,678 31,205 Present value of minimum lease principal payments 112,789 26,806 139,595 Less: Current portion of lease liabilities - operating and financing leases 15,024 9,403 24,427 Noncurrent portion of lease liabilities - operating and financing leases $ 97,765 $ 17,403 $ 115,168
Summary of Balances Related to Lease Portfolio within Condensed Consolidated Statement of Cash Flow	Following is a summary of balances related to the Company’s lease portfolio within the condensed consolidated statements of cash flows: First Half (in thousands) 2020 2019 Cash flows from operating activities impact: Operating leases $ 8,633 $ 8,515 Interest payments on financing lease obligations 507 1,417 Total cash flows from operating activities impact $ 9,140 $ 9,932 Cash flows from financing activities impact: Principal payments on financing lease obligations $ 3,001 $ 4,261 Total cash flows from financing activities impact $ 3,001 $ 4,261

Distribution Agreements, Net (T

Distribution Agreements, Net (Tables)	6 Months Ended
	Jun. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Distribution Agreements, Net	Distribution agreements, net, which are amortized on a straight-line basis and have an estimated useful life of 10 to 40 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Distribution agreements at cost $ 950,549 $ 950,549 Less: Accumulated amortization 86,595 74,453 Distribution agreements, net $ 863,954 $ 876,096 Customer lists and other identifiable intangible assets, net, which are amortized on a straight-line basis and have an estimated useful life of 5 to 12 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Customer lists and other identifiable intangible assets at cost $ 25,288 $ 25,288 Less: Accumulated amortization 11,564 10,645 Customer lists and other identifiable intangible assets, net $ 13,724 $ 14,643

Customer Lists and Other Iden_2

Customer Lists and Other Identifiable Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Customer Lists and Other Identifiable Intangible Assets, Net	Distribution agreements, net, which are amortized on a straight-line basis and have an estimated useful life of 10 to 40 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Distribution agreements at cost $ 950,549 $ 950,549 Less: Accumulated amortization 86,595 74,453 Distribution agreements, net $ 863,954 $ 876,096 Customer lists and other identifiable intangible assets, net, which are amortized on a straight-line basis and have an estimated useful life of 5 to 12 years, consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Customer lists and other identifiable intangible assets at cost $ 25,288 $ 25,288 Less: Accumulated amortization 11,564 10,645 Customer lists and other identifiable intangible assets, net $ 13,724 $ 14,643

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	6 Months Ended
	Jun. 28, 2020
Payables and Accruals [Abstract]
Summary of Other Accrued Liabilities	Other accrued liabilities consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Accrued insurance costs $ 47,629 $ 44,584 Current portion of acquisition related contingent consideration 34,388 41,087 Accrued marketing costs 34,346 34,947 Employee and retiree benefit plan accruals 29,752 33,699 Accrued taxes (other than income taxes) 10,061 6,366 Commodity hedges at fair market value 2,918 1,174 Checks and transfers yet to be presented for payment from zero balance cash accounts 2,412 20,199 Current deferred proceeds from Territory Conversion Fee 2,286 2,286 Federal income taxes — 1,651 All other accrued expenses 26,226 22,841 Total other accrued liabilities $ 190,018 $ 208,834

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Pre-Tax Changes in Fair Value	The following table summarizes pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification of such changes in the condensed consolidated statements of operations: Second Quarter First Half (in thousands) Classification of Gain (Loss) 2020 2019 2020 2019 Commodity hedges Cost of sales $ 1,266 $ (4,874) $ (270) $ (969) Commodity hedges Selling, delivery and administrative expenses 805 (66) (1,524) 2,649 Total gain (loss) $ 2,071 $ (4,940) $ (1,794) $ 1,680
Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments	The following table summarizes the fair values and classification in the condensed consolidated balance sheets of derivative instruments held by the Company: (in thousands) Balance Sheet Classification June 28, 2020 December 29, 2019 Assets: Commodity hedges at fair market value Prepaid expenses and other current assets $ 823 $ 1,007 Total assets $ 823 $ 1,007 Liabilities: Commodity hedges at fair market value Other accrued liabilities $ 2,918 $ 1,174 Total liabilities $ 2,918 $ 1,174
Summary of Gross Derivative Assets and Gross Derivative Liabilities in Condensed Consolidated Balance Sheets	The following table summarizes the Company’s gross derivative assets and gross derivative liabilities in the condensed consolidated balance sheets: (in thousands) June 28, 2020 December 29, 2019 Gross derivative assets $ 904 $ 3,298 Gross derivative liabilities 2,999 3,465
Summary of Outstanding Commodity Derivative Agreements	The following table summarizes the Company’s outstanding commodity derivative agreements: (in thousands) June 28, 2020 December 29, 2019 Notional amount of outstanding commodity derivative agreements $ 123,428 $ 171,699 Latest maturity date of outstanding commodity derivative agreements December 2020 December 2020

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	6 Months Ended
	Jun. 28, 2020
Fair Value Disclosures [Abstract]
Methods and Assumptions Used in Estimating Fair Value	The following methods and assumptions were used by the Company in estimating the fair values of its financial instruments. There were no transfers of assets or liabilities between levels in any period presented. Financial Instrument Fair Value Level Methods and Assumptions Deferred compensation plan assets and liabilities Level 1 The fair value of the Company’s non-qualified deferred compensation plan for certain executives and other highly compensated employees is based on the fair values of associated assets and liabilities, which are held in mutual funds and are based on the quoted market value of the securities held within the mutual funds. Commodity hedging agreements Level 2 The fair values of the Company’s commodity hedging agreements are based on current settlement values at each balance sheet date. The fair values of the commodity hedging agreements at each balance sheet date represent the estimated amounts the Company would have received or paid upon termination of these agreements. The Company’s credit risk related to the derivative financial instruments is managed by requiring high standards for its counterparties and periodic settlements. The Company considers nonperformance risk in determining the fair values of derivative financial instruments. Nonpublic variable rate debt Level 2 The carrying amounts of the Company’s nonpublic variable rate debt approximate their fair values due to variable interest rates with short reset periods. Nonpublic fixed rate debt Level 2 The fair values of the Company’s nonpublic fixed rate debt are based on estimated current market prices. Public debt securities Level 2 The fair values of the Company’s public debt securities are based on estimated current market prices. Acquisition related contingent consideration Level 3 The fair values of acquisition related contingent consideration are based on internal forecasts and the weighted average cost of capital (“WACC”) derived from market data.
Deferred Compensation Plan Commodity Hedging Agreements and Acquisition Related Contingent Consideration	The following tables summarize, by assets and liabilities, the carrying amounts and fair values by level of the Company’s deferred compensation plan, commodity hedging agreements, debt and acquisition related contingent consideration: June 28, 2020 (in thousands) Carrying Amount Total Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets: Deferred compensation plan assets $ 43,904 $ 43,904 $ 43,904 $ — $ — Commodity hedging agreements 823 823 — 823 — Liabilities: Deferred compensation plan liabilities 43,904 43,904 43,904 — — Commodity hedging agreements 2,918 2,918 — 2,918 — Nonpublic variable rate debt 247,338 247,500 — 247,500 — Nonpublic fixed rate debt 374,734 391,700 — 391,700 — Public debt securities 348,102 385,000 — 385,000 — Acquisition related contingent consideration 441,113 441,113 — — 441,113 December 29, 2019 (in thousands) Carrying Amount Total Fair Value Fair Value Level 1 Fair Value Level 2 Fair Value Level 3 Assets: Deferred compensation plan assets $ 42,543 $ 42,543 $ 42,543 $ — $ — Commodity hedging agreements 1,007 1,007 — 1,007 — Liabilities: Deferred compensation plan liabilities 42,543 42,543 42,543 — — Commodity hedging agreements 1,174 1,174 — 1,174 — Nonpublic variable rate debt 307,250 307,500 — 307,500 — Nonpublic fixed rate debt 374,723 383,900 — 383,900 — Public debt securities 347,947 367,300 — 367,300 — Acquisition related contingent consideration 446,684 446,684 — — 446,684
Summary of Reconciliation of Acquisition Related Contingent Consideration Liability	The acquisition related contingent consideration liability is the Company’s only Level 3 asset or liability. A reconciliation of the Level 3 activity is as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Beginning balance - Level 3 liability $ 437,094 $ 393,007 $ 446,684 $ 382,898 Payments of acquisition related contingent consideration (10,079) (6,599) (20,531) (12,836) Reclassification to current payables (450) (3,180) (300) (880) Increase in fair value 14,548 29,222 15,260 43,268 Ending balance - Level 3 liability $ 441,113 $ 412,450 $ 441,113 $ 412,450

Pension and Postretirement Be_2

Pension and Postretirement Benefit Obligations (Tables)	6 Months Ended
	Jun. 28, 2020
Retirement Benefits [Abstract]
Components of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost	The components of net periodic pension cost were as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Service cost $ 1,658 $ 1,206 $ 3,317 $ 2,413 Interest cost 2,760 3,062 5,520 6,125 Expected return on plan assets (3,383) (2,574) (6,766) (5,148) Recognized net actuarial loss 1,190 900 2,379 1,801 Amortization of prior service cost 4 7 9 12 Net periodic pension cost $ 2,229 $ 2,601 $ 4,459 $ 5,203 The components of net periodic postretirement benefit cost were as follows: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Service cost $ 376 $ 389 $ 752 $ 778 Interest cost 504 693 1,007 1,386 Recognized net actuarial loss 87 195 175 391 Amortization of prior service cost — (322) — (646) Net periodic postretirement benefit cost $ 967 $ 955 $ 1,934 $ 1,909

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 28, 2020
Other Liabilities Disclosure [Abstract]
Summary of Other Liabilities	Other liabilities consisted of the following: (in thousands) June 28, 2020 December 29, 2019 Noncurrent portion of acquisition related contingent consideration $ 406,725 $ 405,597 Accruals for executive benefit plans 135,001 141,380 Noncurrent deferred proceeds from Territory Conversion Fee 81,733 82,877 Noncurrent deferred proceeds from Legacy Facilities Credit 29,170 29,569 Deferral of payroll taxes under CARES Act 13,128 — Other 8,912 9,143 Total other liabilities $ 674,669 $ 668,566

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 28, 2020
Debt Disclosure [Abstract]
Summary of Debt	Following is a summary of the Company’s debt: (in thousands) Maturity Interest Interest Public or June 28, December 29, Term loan facility (1) 6/7/2021 Variable Varies Nonpublic $ 247,500 $ 262,500 Senior notes 2/27/2023 3.28% Semi-annually Nonpublic 125,000 125,000 Revolving credit facility (2) 6/8/2023 Variable Varies Nonpublic — 45,000 Senior notes 11/25/2025 3.80% Semi-annually Public 350,000 350,000 Senior notes 10/10/2026 3.93% Quarterly Nonpublic 100,000 100,000 Senior notes 3/21/2030 3.96% Quarterly Nonpublic 150,000 150,000 Unamortized discount on senior notes (3) 11/25/2025 (48) (52) Debt issuance costs (2,278) (2,528) Long-term debt $ 970,174 $ 1,029,920 (1) The Company intends to refinance principal payments due in the next 12 months under the term loan facility, and has the capacity to do so under its revolving credit facility, which is classified as long-term debt. As such, any amounts due in the next 12 months were classified as noncurrent. (2) The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million, which may be increased at the Company’s option to $750 million, subject to obtaining commitments from the lenders and satisfying other conditions specified in the credit agreement. The Company currently believes all banks participating in the revolving credit facility have the ability to and will meet any funding requests from the Company. (3) The senior notes due in 2025 were issued at 99.975% of par.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Summary of Company's Purchases from Manufacturing Cooperatives	The following table summarizes the Company’s purchases from these manufacturing cooperatives: Second Quarter First Half (in thousands) 2020 2019 2020 2019 Purchases from Southeastern $ 32,611 $ 36,614 $ 63,639 $ 70,940 Purchases from SAC 40,385 39,993 82,219 77,439 Total purchases from manufacturing cooperatives $ 72,996 $ 76,607 $ 145,858 $ 148,379

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 28, 2020
Equity [Abstract]
Summary of Accumulated Other Comprehensive (Loss)	A summary of AOCI(L) for the second quarter of 2020 and the second quarter of 2019 is as follows: (in thousands) March 29, 2020 Pre-tax Activity Tax Effect June 28, 2020 Net pension activity: Actuarial loss $ (92,278) $ 1,190 $ (293) $ (91,381) Prior service costs (3) 4 (1) — Net postretirement benefits activity: Actuarial loss (1,125) 87 (21) (1,059) Prior service costs (624) — — (624) Interest rate swap (1,285) 3 (1) (1,283) Foreign currency translation adjustment (17) 4 (1) (14) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (115,052) $ 1,288 $ (317) $ (114,081) (in thousands) March 31, 2019 Pre-tax Activity Tax Effect June 30, 2019 Net pension activity: Actuarial loss $ (72,011) $ 900 $ (221) $ (71,332) Prior service costs (20) 7 (2) (15) Net postretirement benefits activity: Actuarial loss (4,754) 195 (48) (4,607) Prior service costs 107 (322) 79 (136) Foreign currency translation adjustment (9) 7 (2) (4) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (96,407) $ 787 $ (194) $ (95,814) A summary of AOCI(L) for the first half of 2020 and the first half of 2019 is as follows: (in thousands) December 29, 2019 Pre-tax Activity Tax Effect June 28, 2020 Net pension activity: Actuarial loss $ (93,174) $ 2,379 $ (586) $ (91,381) Prior service costs (7) 9 (2) — Net postretirement benefits activity: Actuarial loss (1,191) 175 (43) (1,059) Prior service costs (624) — — (624) Interest rate swap (270) (1,344) 331 (1,283) Foreign currency translation adjustment (16) 3 (1) (14) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (115,002) $ 1,222 $ (301) $ (114,081) (in thousands) December 30, 2018 Pre-tax Activity Tax Effect June 30, 2019 Net pension activity: Actuarial loss $ (72,690) $ 1,801 $ (443) $ (71,332) Prior service costs (24) 12 (3) (15) Net postretirement benefits activity: Actuarial loss (4,902) 391 (96) (4,607) Prior service costs 351 (646) 159 (136) Foreign currency translation adjustment — (3) (1) (4) Reclassification of stranded tax effects — — (19,720) (19,720) Total AOCI(L) $ (77,265) $ 1,555 $ (20,104) $ (95,814)
Summary of Impact of Accumulated Other Comprehensive Income (Loss) on Statement of Operations	A summary of the impact of AOCI(L) on certain statements of operations line items is as follows: Second Quarter 2020 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 360 $ 57 $ — $ — $ 417 Selling, delivery and administrative expenses 834 30 3 4 871 Subtotal pre-tax 1,194 87 3 4 1,288 Income tax expense 294 21 1 1 317 Total after tax effect $ 900 $ 66 $ 2 $ 3 $ 971 Second Quarter 2019 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 266 $ (66) $ — $ — $ 200 Selling, delivery and administrative expenses 641 (61) — 7 587 Subtotal pre-tax 907 (127) — 7 787 Income tax expense (benefit) 223 (31) — 2 194 Total after tax effect $ 684 $ (96) $ — $ 5 $ 593 First Half 2020 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 694 $ 105 $ — $ — $ 799 Selling, delivery and administrative expenses 1,694 70 (1,344) 3 423 Subtotal pre-tax 2,388 175 (1,344) 3 1,222 Income tax expense (benefit) 588 43 (331) 1 301 Total after tax effect $ 1,800 $ 132 $ (1,013) $ 2 $ 921 First Half 2019 (in thousands) Net Pension Activity Net Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 529 $ (133) $ — $ — $ 396 Selling, delivery and administrative expenses 1,284 (122) — (3) 1,159 Subtotal pre-tax 1,813 (255) — (3) 1,555 Income tax expense (benefit) 446 (63) — 1 384 Total after tax effect $ 1,367 $ (192) $ — $ (4) $ 1,171

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information (Tables)	6 Months Ended
	Jun. 28, 2020
Supplemental Cash Flow Elements [Abstract]
Summary of Changes in Current Assets and Current Liabilities Affecting Cash Flows	Changes in current assets and current liabilities affecting cash flows were as follows: First Half (in thousands) 2020 2019 Accounts receivable, trade, net $ (30,948) $ (20,374) Accounts receivable from The Coca-Cola Company 14,319 (23,273) Accounts receivable, other 3,676 (8,199) Inventories 14,798 (20,865) Prepaid expenses and other current assets (2,709) (2,408) Accounts payable, trade 37,015 32,761 Accounts payable to The Coca-Cola Company 31,081 28,237 Other accrued liabilities (20,160) (52,688) Accrued compensation (25,645) (10,256) Accrued interest payable (492) (1,777) Change in current assets less current liabilities $ 20,935 $ (78,842)

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 28, 2020	Jun. 30, 2019	Dec. 31, 2017	Jul. 06, 2020	Dec. 29, 2019
Related Party Transaction [Line Items]
Payments of acquisition related contingent consideration		$ 20,531	$ 12,836
Accounts receivable from The Coca-Cola Company		48,092				$ 62,411
Lease liability, operating lease		139,655				112,789
Lease liability, finance lease		17,019				26,806
Stock compensation expense		$ 0	2,045
Subsequent Event
Related Party Transaction [Line Items]
Lease liability, operating lease					$ 800
Long-Term Performance Equity Plan
Related Party Transaction [Line Items]
Award settled in cash or shares, average closing prices of shares during trading days of performance period		20 days
Long-Term Performance Equity Plan | Selling, delivery and administrative expenses
Related Party Transaction [Line Items]
Stock compensation expense		$ 4,300	6,700
Legacy Facilities Credit
Related Party Transaction [Line Items]
Amortization period as reduction to cost of sales				40 years
Harrison Family
Related Party Transaction [Line Items]
Voting power of stock held by related party		86.00%
The Coca-Cola Company
Related Party Transaction [Line Items]
Voting power of stock held by related party		5.00%
Percentage of interest held in outstanding common stock by The Coca-Cola Company		27.00%
CCR | Comprehensive Beverage Agreement
Related Party Transaction [Line Items]
Amortization period as reduction to cost of sales				40 years
Payments of acquisition related contingent consideration		$ 20,500	12,800
Southeastern | Other Assets
Related Party Transaction [Line Items]
Equity investments		22,600				23,200
SAC
Related Party Transaction [Line Items]
Proceeds from management fees received from SAC, classified as reduction of cost of sales		4,700	4,500
SAC | Other Assets
Related Party Transaction [Line Items]
Equity investments		8,000				8,200
CCBSS
Related Party Transaction [Line Items]
Accounts receivable from The Coca-Cola Company		12,400				10,000
Administrative fees due to CCBSS		1,600	1,000
CONA
Related Party Transaction [Line Items]
Service fees		11,600	$ 11,500
CONA | Other Assets
Related Party Transaction [Line Items]
Equity investments		11,300				10,500
Beacon, Company Headquarters
Related Party Transaction [Line Items]
Lease liability, operating lease		31,800
Lease liability, finance lease						6,800
HLP, SPC & Adjacent Sales Facility
Related Party Transaction [Line Items]
Lease liability, finance lease		$ 2,200				$ 4,300
Harrison Limited Partnership One | Subsequent Event
Related Party Transaction [Line Items]
Lease liability, finance lease	$ 60,100
Amendment to finance lease, extension term	15 years

Related Party Transactions - Su

Related Party Transactions - Summary of Significant Transactions between Company and The Coca-Cola Company (Detail) - The Coca-Cola Company - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Payments made by the Company to The Coca-Cola Company for:
Concentrate, syrup, sweetener and other purchases	$ 264,595	$ 344,841	$ 549,515	$ 611,484
Customer marketing programs	32,400	39,221	65,391	72,513
Cold drink equipment parts	4,039	7,067	10,380	14,049
Brand investment programs	3,988	3,473	7,250	6,593
Payments made by The Coca-Cola Company to the Company for:
Marketing funding support payments	15,449	26,311	36,995	49,023
Fountain delivery and equipment repair fees	6,345	9,885	15,435	20,634
Presence marketing funding support on the Company’s behalf	4,145	4,502	5,880	4,937
Facilitating the distribution of certain brands and packages to other Coca-Cola bottlers	$ 1,161	$ 1,351	$ 2,318	$ 2,350

Related Party Transactions - _2

Related Party Transactions - Summary of Liability to Estimated Fair Value of Contingent Consideration (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Related Party Transaction [Line Items]
Current portion of acquisition related contingent consideration	$ 34,388	$ 41,087
Noncurrent portion of acquisition related contingent consideration	406,725	405,597
CCR | Comprehensive Beverage Agreement
Related Party Transaction [Line Items]
Current portion of acquisition related contingent consideration	34,388	41,087
Noncurrent portion of acquisition related contingent consideration	406,725	405,597
Total acquisition related contingent consideration	$ 441,113	$ 446,684

Related Party Transactions - _3

Related Party Transactions - Summary of Rental Payments Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Company Headquarters
Related Party Transaction [Line Items]
Rental payments related to leases	$ 826	$ 1,151	$ 1,652	$ 2,261
Snyder Production Center
Related Party Transaction [Line Items]
Rental payments related to leases	$ 1,113	$ 1,081	$ 2,226	$ 2,161

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 28, 2020USD ($)category	Jun. 30, 2019	Dec. 29, 2019USD ($)
Revenue From Contract With Customer [Line Items]
Typical payment collection, period after date of sale	30 days
Number of sales | category	2
Reserve for customer return	$ 3,600		$ 3,600
Additions charged to costs and expenses	9,376
COVID-19-related Collectability Risk
Revenue From Contract With Customer [Line Items]
Additions charged to costs and expenses	$ 5,000
Repair Service | Minimum
Revenue From Contract With Customer [Line Items]
General period for completion of services	1 day
Repair Service | Maximum
Revenue From Contract With Customer [Line Items]
General period for completion of services	1 month
Bottle/Can Sales
Revenue From Contract With Customer [Line Items]
Sales return estimated percentage (less than)	1.00%
Post-Mix and Other
Revenue From Contract With Customer [Line Items]
Sales return estimated percentage (less than)	1.00%
Point in Time Net Sales
Revenue From Contract With Customer [Line Items]
Sales percentage	97.00%	96.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 1,227,215	$ 1,273,659	$ 2,400,236	$ 2,376,571
Point in Time Net Sales
Disaggregation of Revenue [Line Items]
Net sales	1,188,485	1,227,977	2,320,960	2,288,248
Point in Time Net Sales | Nonalcoholic Beverages
Disaggregation of Revenue [Line Items]
Net sales	1,188,485	1,227,977	2,320,960	2,288,248
Over Time Net Sales
Disaggregation of Revenue [Line Items]
Net sales	38,730	45,682	79,276	88,323
Over Time Net Sales | Nonalcoholic Beverages
Disaggregation of Revenue [Line Items]
Net sales	7,039	10,908	17,145	22,864
Over Time Net Sales | All Other
Disaggregation of Revenue [Line Items]
Net sales	$ 31,691	$ 34,774	$ 62,131	$ 65,459

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity in Allowance for Credit Losses (Details) $ in Thousands	6 Months Ended
	Jun. 28, 2020USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 10,232
Additions to allowance for credit losses	9,376
Write-offs, net of recoveries	(1,914)
Balance at end of period	$ 17,694

Segments - Additional Informati

Segments - Additional Information (Detail)	6 Months Ended
	Jun. 28, 2020segment
Segment Reporting Information [Line Items]
Number of operating segments	3
All Other
Segment Reporting Information [Line Items]
Number of operating segments	2

Segments - Summary of Financial

Segments - Summary of Financial Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Net sales:
Consolidated net sales	$ 1,227,215	$ 1,273,659	$ 2,400,236	$ 2,376,571
Income from operations:
Consolidated income from operations	83,118	67,214	115,939	87,368
Depreciation and amortization:
Consolidated depreciation and amortization	42,837	45,056	86,396	90,828
Operating Segments | Nonalcoholic Beverages
Net sales:
Consolidated net sales	1,195,524	1,238,885	2,338,105	2,311,112
Income from operations:
Consolidated income from operations	83,907	57,724	119,524	72,365
Depreciation and amortization:
Consolidated depreciation and amortization	39,909	42,568	80,667	85,919
Operating Segments | All Other
Net sales:
Consolidated net sales	80,329	94,942	161,630	182,857
Income from operations:
Consolidated income from operations	(789)	9,490	(3,585)	15,003
Depreciation and amortization:
Consolidated depreciation and amortization	2,928	2,488	5,729	4,909
Eliminations
Net sales:
Consolidated net sales	$ (48,638)	$ (60,168)	$ (99,499)	$ (117,398)

Net Income Per Share - Computat

Net Income Per Share - Computation of Basic Net Income Per Share and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Numerator for basic and diluted net income per Common Stock and Class B Common Stock share:
Net income attributable to Coca-Cola Consolidated, Inc.	$ 39,569	$ 15,370	$ 54,231	$ 8,539
Less dividends:
Total undistributed earnings – basic	37,227	13,027	49,545	3,857
Total undistributed earnings – diluted	37,227	13,027	49,545	3,857
Numerator for diluted net income per Common Stock share:
Numerator for diluted net income per Common Stock share	39,569	15,370	54,231	8,539
Common Stock
Less dividends:
Common Stock	1,785	1,785	3,571	3,570
Total undistributed earnings – basic	28,362	9,925	37,747	2,941
Total undistributed earnings – diluted	28,161	9,874	37,479	2,925
Numerator for basic net income per Common Stock share:
Numerator for basic net income per Common Stock share	$ 30,147	$ 11,710	$ 41,318	$ 6,511
Denominator for basic net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding - basic (in shares)	7,141	7,141	7,141	7,141
Denominator for diluted net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding - diluted (in shares)	9,440	9,421	9,440	9,415
Basic net income per share:
Common Stock (in dollars per share)	$ 4.23	$ 1.64	$ 5.79	$ 0.91
Diluted net income per share:
Common Stock (in dollars per share)	$ 4.19	$ 1.64	$ 5.74	$ 0.91
Class B Common Stock
Less dividends:
Common Stock	$ 557	$ 558	$ 1,115	$ 1,112
Total undistributed earnings – basic	8,865	3,102	11,798	916
Total undistributed earnings – diluted	9,066	3,153	12,066	932
Numerator for basic net income per Common Stock share:
Numerator for basic net income per Common Stock share	9,422	3,660	12,913	2,028
Numerator for diluted net income per Common Stock share:
Numerator for diluted net income per Common Stock share	$ 9,623	$ 3,711	$ 13,181	$ 2,044
Denominator for basic net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding - basic (in shares)	2,232	2,232	2,232	2,225
Denominator for diluted net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding - diluted (in shares)	2,299	2,280	2,299	2,274
Basic net income per share:
Common Stock (in dollars per share)	$ 4.23	$ 1.64	$ 5.79	$ 0.91
Diluted net income per share:
Common Stock (in dollars per share)	$ 4.18	$ 1.63	$ 5.73	$ 0.90

Net Income Per Share - Comput_2

Net Income Per Share - Computation of Basic Net Income Per Share and Diluted Net Income Per Share, Textual (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Percentage undistributed earnings allocated to common stock diluted			100.00%	100.00%
Anti-dilutive shares	0	0	0	0

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Inventory Disclosure [Abstract]
Finished products	$ 134,731	$ 142,363
Manufacturing materials	40,436	45,267
Plastic shells, plastic pallets and other inventories	35,961	38,296
Total inventories	$ 211,128	$ 225,926

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Prepaid Expense and Other Assets [Abstract]
Repair parts	$ 28,994	$ 28,967
Prepaid software	6,494	5,850
Prepaid marketing	6,314	5,658
Prepaid taxes	5,138	4,359
Prepayments for sponsorship contracts	3,412	8,696
Other prepaid expenses and other current assets	21,818	15,931
Total prepaid expenses and other current assets	$ 72,170	$ 69,461

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Principal Categories and Estimated Useful Lives of Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Dec. 29, 2019
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 1,987,116	$ 1,958,078
Less:  Accumulated depreciation and amortization	1,001,938	960,675
Property, plant and equipment, net	985,178	997,403
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	83,168	76,860
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 225,665	223,500
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	8 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	50 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 357,535	355,575
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	5 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	20 years
Transportation equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 421,858	417,532
Transportation equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years
Transportation equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	20 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 94,918	92,059
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Cold drink dispensing equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 479,272	489,050
Cold drink dispensing equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	5 years
Cold drink dispensing equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	17 years
Leasehold and land improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 148,204	145,341
Leasehold and land improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	5 years
Leasehold and land improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	20 years
Software for internal use
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 129,646	128,792
Software for internal use | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Software for internal use | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Construction in progress
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 46,850	$ 29,369

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Population of Leases (Detail)	Jun. 28, 2020	Dec. 29, 2019
Operating leases
Weighted average remaining lease term	10 years	10 years 2 months 12 days
Weighted average discount rate	4.10%	4.10%
Financing leases
Weighted average remaining lease term	5 years 9 months 18 days	4 years 9 months 18 days
Weighted average discount rate	5.50%	5.70%

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands	Jul. 06, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 28, 2020USD ($)lease_commitment	Dec. 29, 2019USD ($)
Lessee, Lease, Description [Line Items]
Lease liability, operating lease			$ 139,655	$ 112,789
Lease liability, finance lease			$ 17,019	26,806
Number of real estate lease commitments not yet commenced | lease_commitment			2
Subsequent Event
Lessee, Lease, Description [Line Items]
Lease liability, operating lease	$ 800
Term of extension due to lease amendment	3 years
Beacon, Company Headquarters
Lessee, Lease, Description [Line Items]
Term of new operating lease			10 years
Lease liability, operating lease			$ 31,800
Lease liability, finance lease				$ 6,800
Harrison Limited Partnership One | Subsequent Event
Lessee, Lease, Description [Line Items]
Lease liability, finance lease		$ 60,100
Amendment to finance lease, extension term		15 years

Leases - Summary of Balances Re

Leases - Summary of Balances Related to Lease Portfolio within Condensed Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Lessee Disclosure [Line Items]
Total lease cost	$ 10,768	$ 9,670	$ 21,503	$ 19,422
Cost of sales
Lessee Disclosure [Line Items]
Operating lease costs	1,385	1,342	2,770	2,683
Short-term and variable leases	3,057	2,317	5,657	4,579
Depreciation expense from financing leases	353	354	707	707
Total lease cost	4,795	4,013	9,134	7,969
SD&A expenses
Lessee Disclosure [Line Items]
Operating lease costs	4,710	3,026	9,379	5,922
Short-term and variable leases	451	779	1,341	1,838
Depreciation expense from financing leases	571	1,137	1,142	2,276
Total lease cost	5,732	4,942	11,862	10,036
Interest expense, net
Lessee Disclosure [Line Items]
Interest expense on financing lease obligations	241	715	507	1,417
Total lease cost	$ 241	$ 715	$ 507	$ 1,417

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments For Noncancelable Operating And Financing Leases (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Operating Leases
Remainder of 2020	$ 11,371
2020		$ 19,236
2021	21,017	16,815
2022	18,264	14,016
2023	15,971	11,704
2024	15,326	10,989
Thereafter	90,229	67,556
Total minimum lease payments including interest	172,178	140,316
Less:  Amounts representing interest	32,523	27,527
Present value of minimum lease principal payments	139,655	112,789
Less: Current portion of lease liabilities - operating leases	17,602	15,024
Noncurrent portion of lease liabilities - operating leases	122,053	97,765
Financing Leases
Remainder of 2020	3,518
2020		10,611
2021	2,628	6,215
2022	2,694	2,694
2023	2,750	2,750
2024	2,808	2,808
Thereafter	5,407	5,406
Total minimum lease payments including interest	19,805	30,484
Less:  Amounts representing interest	2,786	3,678
Present value of minimum lease principal payments	17,019	26,806
Less: Current portion of lease liabilities - financing leases	4,070	9,403
Noncurrent portion of lease liabilities - financing leases	12,949	17,403
Total
Remainder of 2020	14,889
2020		29,847
2021	23,645	23,030
2022	20,958	16,710
2023	18,721	14,454
2024	18,134	13,797
Thereafter	95,636	72,962
Total minimum lease payments including interest	191,983	170,800
Less:  Amounts representing interest	35,309	31,205
Present value of minimum lease principal payments	156,674	139,595
Less:  Current portion of lease liabilities - operating and financing leases	21,672	24,427
Noncurrent portion of lease liabilities - operating and financing leases	$ 135,002	$ 115,168

Leases - Summary of Balances _2

Leases - Summary of Balances Related to Lease Portfolio within Condensed Consolidated Statement of Cash Flow (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Cash flows from operating activities impact:
Operating leases	$ 8,633	$ 8,515
Interest payments on financing lease obligations	507	1,417
Total cash flows from operating activities impact	9,140	9,932
Cash flows from financing activities impact:
Principal payments on financing lease obligations	3,001	4,261
Total cash flows from financing activities impact	$ 3,001	$ 4,261

Distribution Agreements, Net -

Distribution Agreements, Net - Additional Information (Details) - Distribution agreements, net	6 Months Ended
	Jun. 28, 2020
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	40 years

Distribution Agreements, Net (D

Distribution Agreements, Net (Detail) - Distribution agreements, net - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Finite-Lived Intangible Assets [Line Items]
Distribution agreements at cost	$ 950,549	$ 950,549
Less: Accumulated amortization	86,595	74,453
Intangible assets, net	$ 863,954	$ 876,096

Customer Lists and Other Iden_3

Customer Lists and Other Identifiable Intangible Assets, Net - Additional Information (Detail) - Customer lists and other identifiable intangible assets, net	6 Months Ended
	Jun. 28, 2020
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	12 years

Customer Lists and Other Iden_4

Customer Lists and Other Identifiable Intangible Assets, Net (Detail) - Customer lists and other identifiable intangible assets, net - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Finite-Lived Intangible Assets [Line Items]
Customer lists and other identifiable intangible assets at cost	$ 25,288	$ 25,288
Less: Accumulated amortization	11,564	10,645
Intangible assets, net	$ 13,724	$ 14,643

Other Accrued Liabilities - Sum

Other Accrued Liabilities - Summary of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Payables and Accruals [Abstract]
Accrued insurance costs	$ 47,629	$ 44,584
Current portion of acquisition related contingent consideration	34,388	41,087
Accrued marketing costs	34,346	34,947
Employee and retiree benefit plan accruals	29,752	33,699
Accrued taxes (other than income taxes)	10,061	6,366
Commodity hedges at fair market value	2,918	1,174
Checks and transfers yet to be presented for payment from zero balance cash accounts	2,412	20,199
Current deferred proceeds from Territory Conversion Fee	2,286	2,286
Federal income taxes	0	1,651
All other accrued expenses	26,226	22,841
Total other accrued liabilities	$ 190,018	$ 208,834

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Pre-Tax Changes in Fair Value (Detail) - Commodity hedges - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ 2,071	$ (4,940)	$ (1,794)	$ 1,680
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	1,266	(4,874)	(270)	(969)
Selling, delivery and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ 805	$ (66)	$ (1,524)	$ 2,649

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Assets:
Total assets	$ 823	$ 1,007
Liabilities:
Total liabilities	2,918	1,174
Gross derivative assets	904	3,298
Gross derivative liabilities	2,999	3,465
Commodity hedges at fair market value | Prepaid expenses and other current assets
Assets:
Total assets	823	1,007
Commodity hedges at fair market value | Other accrued liabilities
Liabilities:
Total liabilities	$ 2,918	$ 1,174

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Outstanding Commodity Derivative Agreements (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Commodity Derivative Agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of outstanding commodity derivative agreements	$ 123,428	$ 171,699

Fair Values of Financial Inst_3

Fair Values of Financial Instruments - Deferred Compensation Plan Commodity Hedging Agreements and Acquisition Related Contingent Consideration (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Mar. 29, 2020	Dec. 29, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 30, 2018
Assets:
Commodity hedging agreements	$ 823		$ 1,007
Liabilities:
Commodity hedging agreements	2,918		1,174
Fair Value Level 3
Liabilities:
Acquisition related contingent consideration	441,113	$ 437,094	446,684	$ 412,450	$ 393,007	$ 382,898
Carrying Amount
Assets:
Deferred compensation plan assets	43,904		42,543
Liabilities:
Deferred compensation plan liabilities	43,904		42,543
Nonpublic variable rate debt	247,338		307,250
Nonpublic fixed rate debt	374,734		374,723
Public debt securities	348,102		347,947
Acquisition related contingent consideration	441,113		446,684
Carrying Amount | Commodity hedges
Assets:
Commodity hedging agreements	823		1,007
Liabilities:
Commodity hedging agreements	2,918		1,174
Total Fair Value
Assets:
Deferred compensation plan assets	43,904		42,543
Liabilities:
Deferred compensation plan liabilities	43,904		42,543
Nonpublic variable rate debt	247,500		307,500
Nonpublic fixed rate debt	391,700		383,900
Public debt securities	385,000		367,300
Acquisition related contingent consideration	441,113		446,684
Total Fair Value | Commodity hedges
Assets:
Commodity hedging agreements	823		1,007
Liabilities:
Commodity hedging agreements	2,918		1,174
Total Fair Value | Fair Value Level 1
Assets:
Deferred compensation plan assets	43,904		42,543
Liabilities:
Deferred compensation plan liabilities	43,904		42,543
Nonpublic variable rate debt	0		0
Nonpublic fixed rate debt	0		0
Public debt securities	0		0
Acquisition related contingent consideration	0		0
Total Fair Value | Fair Value Level 1 | Commodity hedges
Assets:
Commodity hedging agreements	0		0
Liabilities:
Commodity hedging agreements	0		0
Total Fair Value | Fair Value Level 2
Assets:
Deferred compensation plan assets	0		0
Liabilities:
Deferred compensation plan liabilities	0		0
Nonpublic variable rate debt	247,500		307,500
Nonpublic fixed rate debt	391,700		383,900
Public debt securities	385,000		367,300
Acquisition related contingent consideration	0		0
Total Fair Value | Fair Value Level 2 | Commodity hedges
Assets:
Commodity hedging agreements	823		1,007
Liabilities:
Commodity hedging agreements	2,918		1,174
Total Fair Value | Fair Value Level 3
Assets:
Deferred compensation plan assets	0		0
Liabilities:
Deferred compensation plan liabilities	0		0
Nonpublic variable rate debt	0		0
Nonpublic fixed rate debt	0		0
Public debt securities	0		0
Acquisition related contingent consideration	441,113		446,684
Total Fair Value | Fair Value Level 3 | Commodity hedges
Assets:
Commodity hedging agreements	0		0
Liabilities:
Commodity hedging agreements	$ 0		$ 0

Fair Values of Financial Inst_4

Fair Values of Financial Instruments - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 28, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount payable annually under acquisition related contingent consideration arrangements, value, low	$ 28
Amount payable annually under acquisition related contingent consideration arrangements, value, high	$ 52
Distribution Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Estimated useful life	40 years

Fair Values of Financial Inst_5

Fair Values of Financial Instruments - Summary of Reconciliation of Acquisition Related Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Business Combination, Contingent Consideration, Liability [Roll Forward]
Payments of acquisition related contingent consideration			$ (20,531)	$ (12,836)
Increase in fair value			15,260	43,268
Level 3
Business Combination, Contingent Consideration, Liability [Roll Forward]
Beginning balance - Level 3 liability	$ 437,094	$ 393,007	446,684	382,898
Payments of acquisition related contingent consideration	(10,079)	(6,599)	(20,531)	(12,836)
Reclassification to current payables	(450)	(3,180)	(300)	(880)
Increase in fair value	14,548	29,222	15,260	43,268
Ending balance - Level 3 liability	$ 441,113	$ 412,450	$ 441,113	$ 412,450

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Dec. 29, 2019
Income Tax Disclosure [Abstract]
Effective income tax rate	26.10%	27.00%
Effective income tax rate with noncontrolling interest	27.50%	32.80%
Uncertain tax positions	$ 3.4		$ 2.5
Uncertain tax positions that would affect tax rate	$ 3.4		$ 2.5

Pension and Postretirement Be_3

Pension and Postretirement Benefit Obligations - Components of Net Periodic Pension Cost (Detail) - Pension Plans - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,658	$ 1,206	$ 3,317	$ 2,413
Interest cost	2,760	3,062	5,520	6,125
Expected return on plan assets	(3,383)	(2,574)	(6,766)	(5,148)
Recognized net actuarial loss	1,190	900	2,379	1,801
Amortization of prior service cost	4	7	9	12
Net periodic pension/postretirement benefit cost	$ 2,229	$ 2,601	$ 4,459	$ 5,203

Pension and Postretirement Be_4

Pension and Postretirement Benefit Obligations - Additional Information (Detail) - Pension Plans	6 Months Ended
	Jun. 28, 2020USD ($)benefit_plan
Defined Benefit Plan Disclosure [Line Items]
Company contribution to pension plans during the period	$ 0
Number of company-sponsored pension plans | benefit_plan	2
Minimum
Defined Benefit Plan Disclosure [Line Items]
Benefit pension plan, contributions	$ 8,000,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Benefit pension plan, contributions	$ 12,000,000

Pension and Postretirement Be_5

Pension and Postretirement Benefit Obligations - Components of Net Periodic Postretirement Benefit Cost (Detail) - Net  Postretirement Benefits Activity - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 376	$ 389	$ 752	$ 778
Interest cost	504	693	1,007	1,386
Recognized net actuarial loss	87	195	175	391
Amortization of prior service cost	0	(322)	0	(646)
Net periodic pension/postretirement benefit cost	$ 967	$ 955	$ 1,934	$ 1,909

Other Liabilities - Summary of

Other Liabilities - Summary of Other Liabilities (Detail) - USD ($) $ in Thousands	Jun. 28, 2020	Dec. 29, 2019
Other Liabilities Disclosure [Abstract]
Noncurrent portion of acquisition related contingent consideration	$ 406,725	$ 405,597
Accruals for executive benefit plans	135,001	141,380
Noncurrent deferred proceeds from Territory Conversion Fee	81,733	82,877
Noncurrent deferred proceeds from Legacy Facilities Credit	29,170	29,569
Deferral of payroll taxes under CARES Act	13,128
Other	8,912	9,143
Total other liabilities	$ 674,669	$ 668,566

Debt - Summary of Debt (Detail)

Debt - Summary of Debt (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Dec. 29, 2019
Debt Instrument [Line Items]
Debt issuance costs	$ (2,278)	$ (2,528)
Long-term debt	$ 970,174	1,029,920
Revolving Credit Facility | Non-public | Line of Credit
Debt Instrument [Line Items]
Maturity Date	Jun. 8, 2023
Interest Rate, Term	Variable
Interest Paid	Varies
Long-term debt, gross	$ 0	45,000
Term Loan Facility | Non-public | Term Loan
Debt Instrument [Line Items]
Maturity Date	Jun. 7, 2021
Interest Rate, Term	Variable
Interest Paid	Varies
Long-term debt, gross	$ 247,500	262,500
3.28% Senior Notes 2/27/2023 | Non-public | Senior Notes
Debt Instrument [Line Items]
Maturity Date	Feb. 27, 2023
Interest Rate	3.28%
Interest Paid	Semi-annually
Long-term debt, gross	$ 125,000	125,000
3.80% Senior Notes 11/25/2025 | Public | Senior Notes
Debt Instrument [Line Items]
Maturity Date	Nov. 25, 2025
Interest Rate	3.80%
Interest Paid	Semi-annually
Long-term debt, gross	$ 350,000	350,000
Unamortized discount on senior notes	$ (48)	(52)
3.93% Senior Notes 10/10/2026 | Non-public | Senior Notes
Debt Instrument [Line Items]
Maturity Date	Oct. 10, 2026
Interest Rate	3.93%
Interest Paid	Quarterly
Long-term debt, gross	$ 100,000	100,000
3.96% Senior Notes 3/21/2030 | Non-public | Senior Notes
Debt Instrument [Line Items]
Maturity Date	Mar. 21, 2030
Interest Rate	3.96%
Interest Paid	Quarterly
Long-term debt, gross	$ 150,000	$ 150,000

Debt - Summary of Debt, Footnot

Debt - Summary of Debt, Footnotes (Detail)	Jun. 28, 2020USD ($)
3.80% Senior Notes 11/25/2025 | Public | Senior Notes
Debt Instrument [Line Items]
Senior notes, issued at par percentage	99.975%
Revolving Credit Facility | Non-public
Debt Instrument [Line Items]
Aggregate maximum borrowing capacity	$ 500,000,000
Line of credit facility maximum borrowing capacity increased amount subject to obtaining commitments	$ 750,000,000

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	6 Months Ended
	Jun. 28, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt issued by subsidiaries	$ 0
Guarantees of company debt	$ 0
Term Loan Facility | Non-public | Term Loan
Debt Instrument [Line Items]
Maturity date of debt instruments	Jun. 7, 2021
Term Loan Facility | Fixed Rate Swap | Non-public | Term Loan
Debt Instrument [Line Items]
Debt instrument, face amount		$ 100,000,000
Maturity date of debt instruments	Jun. 7, 2021

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	6 Months Ended		12 Months Ended
	Jun. 28, 2020USD ($)product	Jun. 30, 2019product	Dec. 29, 2019USD ($)
Loss Contingencies [Line Items]
Letters of credit totaled	$ 37,600,000		$ 35,600,000
Long-term marketing contractual arrangements	$ 178,100,000
Southeastern
Loss Contingencies [Line Items]
Purchase requirements of plastic bottles, percentage (at least)	80.00%
SAC
Loss Contingencies [Line Items]
Cases of finished product obligated to purchase on an annual basis | product	17,500,000
Purchased number of cases finished product from SAC | product	15,100,000	14,300,000
Debt guarantee for related party	$ 14,700,000		14,700,000
Impairment of investment	$ 0		$ 0

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Company's Purchases from Manufacturing Cooperatives (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Loss Contingencies [Line Items]
Total purchases from manufacturing cooperatives	$ 72,996	$ 76,607	$ 145,858	$ 148,379
Southeastern
Loss Contingencies [Line Items]
Total purchases from manufacturing cooperatives	32,611	36,614	63,639	70,940
SAC
Loss Contingencies [Line Items]
Total purchases from manufacturing cooperatives	$ 40,385	$ 39,993	$ 82,219	$ 77,439

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Accumulated Other Comprehensive (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance			$ 451,116	$ 455,166
Pre-tax Activity	$ 1,288	$ 787	1,222	1,555
Tax Effect	(317)	(194)	(301)	(20,104)
Ending Balance	505,565	467,709	505,565	467,709
Reclassification Of Stranded Tax Effects Due To T C J A [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(19,720)	(19,720)	(19,720)	0
Pre-tax Activity	0	0	0	0
Tax Effect	0	0	0	(19,720)
Ending Balance	(19,720)	(19,720)	(19,720)	(19,720)
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(115,052)	(96,407)	(115,002)	(77,265)
Ending Balance	(114,081)	(95,814)	(114,081)	(95,814)
Interest rate swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(1,285)		(270)
Pre-tax Activity	3		(1,344)
Tax Effect	(1)		331
Ending Balance	(1,283)		(1,283)
Foreign currency translation adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(17)	(9)	(16)	0
Pre-tax Activity	4	7	3	(3)
Tax Effect	(1)	(2)	(1)	(1)
Ending Balance	(14)	(4)	(14)	(4)
Net Pension Activity | Actuarial loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(92,278)	(72,011)	(93,174)	(72,690)
Pre-tax Activity	1,190	900	2,379	1,801
Tax Effect	(293)	(221)	(586)	(443)
Ending Balance	(91,381)	(71,332)	(91,381)	(71,332)
Net Pension Activity | Prior service costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(3)	(20)	(7)	(24)
Pre-tax Activity	4	7	9	12
Tax Effect	(1)	(2)	(2)	(3)
Ending Balance	0	(15)	0	(15)
Net  Postretirement Benefits Activity | Actuarial loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(1,125)	(4,754)	(1,191)	(4,902)
Pre-tax Activity	87	195	175	391
Tax Effect	(21)	(48)	(43)	(96)
Ending Balance	(1,059)	(4,607)	(1,059)	(4,607)
Net  Postretirement Benefits Activity | Prior service costs
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(624)	107	(624)	351
Pre-tax Activity	0	(322)	0	(646)
Tax Effect	0	79	0	159
Ending Balance	$ (624)	$ (136)	$ (624)	$ (136)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Summary of Impact of Accumulated Other Comprehensive Income (Loss) on Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019	Jun. 28, 2020	Jun. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 797,914	$ 837,880	$ 1,565,640	$ 1,551,484
Selling, delivery and administrative expenses	346,183	368,565	718,657	737,719
Subtotal pre-tax	(57,800)	(24,038)	(78,762)	(15,455)
Income tax expense (benefit)	15,187	7,182	20,548	4,177
Total after tax effect	(39,569)	(15,370)	(54,231)	(8,539)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	417	200	799	396
Selling, delivery and administrative expenses	871	587	423	1,159
Subtotal pre-tax	1,288	787	1,222	1,555
Income tax expense (benefit)	317	194	301	384
Total after tax effect	971	593	921	1,171
Reclassification out of Accumulated Other Comprehensive Income | Interest Rate Swap
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	0	0	0	0
Selling, delivery and administrative expenses	3	0	(1,344)	0
Subtotal pre-tax	3	0	(1,344)	0
Income tax expense (benefit)	1	0	(331)	0
Total after tax effect	2	0	(1,013)	0
Reclassification out of Accumulated Other Comprehensive Income | Foreign Currency Translation Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	0	0	0	0
Selling, delivery and administrative expenses	4	7	3	(3)
Subtotal pre-tax	4	7	3	(3)
Income tax expense (benefit)	1	2	1	1
Total after tax effect	3	5	2	(4)
Reclassification out of Accumulated Other Comprehensive Income | Net Pension Activity | Defined Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	360	266	694	529
Selling, delivery and administrative expenses	834	641	1,694	1,284
Subtotal pre-tax	1,194	907	2,388	1,813
Income tax expense (benefit)	294	223	588	446
Total after tax effect	900	684	1,800	1,367
Reclassification out of Accumulated Other Comprehensive Income | Net  Postretirement Benefits Activity | Defined Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	57	(66)	105	(133)
Selling, delivery and administrative expenses	30	(61)	70	(122)
Subtotal pre-tax	87	(127)	175	(255)
Income tax expense (benefit)	21	(31)	43	(63)
Total after tax effect	$ 66	$ (96)	$ 132	$ (192)

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flow Information - Summary of Changes in Current Assets and Current Liabilities Affecting Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2020	Jun. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Accounts receivable, trade, net	$ (30,948)	$ (20,374)
Accounts receivable from The Coca-Cola Company	14,319	(23,273)
Accounts receivable, other	3,676	(8,199)
Inventories	14,798	(20,865)
Prepaid expenses and other current assets	(2,709)	(2,408)
Accounts payable, trade	37,015	32,761
Accounts payable to The Coca-Cola Company	31,081	28,237
Other accrued liabilities	(20,160)	(52,688)
Accrued compensation	(25,645)	(10,256)
Accrued interest payable	(492)	(1,777)
Change in current assets less current liabilities	$ 20,935	$ (78,842)