Coca-Cola Consolidated (COKE) 10-Q 11 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 02, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 2, 2021
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, par value $1.00 per share
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	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000317540
Current Fiscal Year End Date	--12-31
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
	Apr. 02, 2021	Mar. 29, 2020
Net sales	$ 1,269,857	$ 1,173,021
Cost of sales	821,154	767,726
Gross profit	448,703	405,295
Selling, delivery and administrative expenses	354,519	372,474
Income from operations	94,184	32,821
Interest expense, net	8,746	9,561
Other expense, net	12,055	2,298
Income before income taxes	73,383	20,962
Income tax expense	20,020	5,361
Net income	53,363	15,601
Less: Net income attributable to noncontrolling interest	0	939
Net income attributable to Coca‑Cola Consolidated, Inc.	$ 53,363	$ 14,662
Common Stock
Basic net income per share based on net income attributable to Coca‑Cola Consolidated, Inc.:
Common Stock (in dollars per share)	$ 5.69	$ 1.56
Weighted average number of Common Stock shares outstanding (in shares)	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)	$ 5.67	$ 1.55
Weighted average number of Common Stock shares outstanding - assuming dilution (in shares)	9,409	9,444
Cash dividends per share:
Common Stock (in dollars per share)	$ 0.25	$ 0.25
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)	$ 5.69	$ 1.56
Weighted average number of Common Stock shares outstanding (in shares)	2,232	2,232
Diluted net income per share based on net income attributable to Coca‑Cola Consolidated, Inc.:
Common Stock (in dollars per share)	$ 5.67	$ 1.55
Weighted average number of Common Stock shares outstanding - assuming dilution (in shares)	2,268	2,303
Cash dividends per share:
Common Stock (in dollars per share)	$ 0.25	$ 0.25

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 53,363	$ 15,601
Defined benefit plans reclassification including pension costs:
Actuarial gains	916	896
Prior service credits	1	4
Postretirement benefits reclassification included in benefits costs:
Actuarial gains	140	66
Interest rate swap	312	(1,015)
Foreign currency translation adjustment	(37)	(1)
Other comprehensive income (loss), net of tax	1,332	(50)
Comprehensive income	54,695	15,551
Less: Comprehensive income attributable to noncontrolling interest	0	939
Comprehensive income attributable to Coca‑Cola Consolidated, Inc.	$ 54,695	$ 14,612

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 51,828	$ 54,793
Accounts receivable, trade	460,022	425,445
Allowance for doubtful accounts	(20,648)	(21,620)
Accounts receivable from The Coca‑Cola Company	62,732	49,203
Accounts receivable, other	32,609	37,084
Inventories	257,363	225,757
Prepaid expenses and other current assets	76,592	74,146
Assets held for sale	6,350	6,429
Total current assets	926,848	851,237
Property, plant and equipment, net	1,021,198	1,022,722
Right-of-use assets - operating leases	129,445	134,383
Leased property under financing leases, net	68,453	69,867
Other assets	112,995	111,781
Goodwill	165,903	165,903
Total assets	3,284,832	3,222,450
Current Liabilities:
Current portion of obligations under operating leases	19,388	19,766
Current portion of obligations under financing leases	5,909	5,860
Accounts payable, trade	227,935	217,560
Accounts payable to The Coca‑Cola Company	142,295	107,181
Other accrued liabilities	219,584	205,141
Accrued compensation	62,536	87,608
Accrued interest payable	6,260	3,944
Total current liabilities	683,907	647,060
Deferred income taxes	159,845	139,423
Pension and postretirement benefit obligations	115,306	113,325
Other liabilities	666,885	679,280
Noncurrent portion of obligations under operating leases	115,487	119,923
Noncurrent portion of obligations under financing leases	68,756	69,984
Long-term debt	909,304	940,465
Total liabilities	2,719,490	2,709,460
Commitments and Contingencies
Equity:
Additional paid-in capital	135,953	135,953
Retained earnings	595,300	544,280
Accumulated other comprehensive loss	(117,721)	(119,053)
Total equity	565,342	512,990
Total liabilities and equity	3,284,832	3,222,450
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	847,645	853,753
Customer lists, net
Current Assets:
Intangible assets, net	$ 12,345	$ 12,804

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Apr. 02, 2021	Dec. 31, 2020
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	3 Months Ended		12 Months Ended
	Apr. 02, 2021	Mar. 29, 2020	Dec. 31, 2020
Cash Flows from Operating Activities:
Net income	$ 53,363	$ 15,601
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense from property, plant and equipment and financing leases	37,716	37,799
Amortization of intangible assets and deferred proceeds, net	5,810	5,760
Deferred income taxes	19,980	5,910
Fair value adjustment of acquisition related contingent consideration	10,998	712
Loss on sale of property, plant and equipment	1,098	491
Impairment of property, plant and equipment	500	0
Amortization of debt costs	277	220
Change in current assets less current liabilities	(38,662)	(42,310)
Change in other noncurrent assets	4,197	12,223
Change in other noncurrent liabilities	(13,330)	(4,117)
Other	(37)	0
Total adjustments	28,547	16,688
Net cash provided by operating activities	81,910	32,289
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(37,204)	(33,093)
Other distribution agreements	(1,998)	0
Investment in CONA Services LLC	(514)	(893)
Proceeds from the sale of property, plant and equipment	74	1,658
Net cash used in investing activities	(39,642)	(32,328)
Cash Flows from Financing Activities:
Borrowings under revolving credit facility	0	185,000
Payments on revolving credit facility	0	(125,000)
Payments on term loan facility	(31,250)	(7,500)
Payments of acquisition related contingent consideration	(10,046)	(10,452)
Cash dividends paid	(2,343)	(2,344)
Payments on financing lease obligations	(1,447)	(1,485)
Debt issuance fees	(147)	(46)
Net cash provided by (used in) financing activities	(45,233)	38,173
Net increase (decrease) in cash during period	(2,965)	38,134
Cash at beginning of period	54,793	9,614	$ 9,614
Cash at end of period	51,828	47,748	$ 54,793
Significant non-cash investing and financing activities:
Additions to property, plant and equipment accrued and recorded in accounts payable, trade	16,192	12,748
Right-of-use assets obtained in exchange for operating lease obligations	$ 0	$ 31,691

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	Additional Paid-in Capital	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. 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	15,601			14,662						14,662						939
Other comprehensive income (loss), net of tax	(50)			(50)									(50)
Cash dividends paid: Common Stock		$ (1,786)	$ (558)		$ (1,786)	$ (558)					$ (1,786)	$ (558)
Ending Balance at Mar. 29, 2020	464,323			359,220			10,204	2,860	128,983	393,479			(115,052)	(60,845)	(409)	105,103
Beginning Balance at Dec. 31, 2020	512,990			512,990			10,204	2,860	135,953	544,280			(119,053)	(60,845)	(409)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	53,363			53,363						53,363						0
Other comprehensive income (loss), net of tax	1,332			1,332									1,332
Cash dividends paid: Common Stock		$ (1,785)	$ (558)		$ (1,785)	$ (558)					$ (1,785)	$ (558)
Ending Balance at Apr. 02, 2021	$ 565,342			$ 565,342			$ 10,204	$ 2,860	$ 135,953	$ 595,300			$ (117,721)	$ (60,845)	$ (409)	$ 0

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Common Stock
Cash dividend per share (in dollars per share)	$ 0.25	$ 0.25
Class B Common Stock
Cash dividend per share (in dollars per share)	$ 0.25	$ 0.25

Critical Accounting Policies an

Critical Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
	Apr. 02, 2021
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 quarters presented. Each of the Company’s quarters, other than the fourth quarter, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The Company’s fourth quarter and fiscal year end on December 31 regardless of the day of the week on which December 31 falls. The condensed consolidated financial statements presented are: • The financial position as of April 2, 2021 and December 31, 2020. • The results of operations and comprehensive income for the three-month periods ended April 2, 2021 (the “first quarter” of fiscal 2021 (“2021”)) and March 29, 2020 (the “first quarter” of fiscal 2020 (“2020”)). • The changes in cash flows and equity for the first quarter of 2021 and the first quarter of 2020. The condensed consolidated financial statements include the consolidated operations of the Company and its majority-owned subsidiaries. During 2020, Piedmont Coca-Cola Bottling Partnership (“Piedmont”) was the Company’s only subsidiary that had a significant noncontrolling interest. On December 9, 2020, an indirect wholly owned subsidiary of the Company purchased the remaining 22.7% general partnership interest in Piedmont from an indirect wholly owned subsidiary of The Coca‑Cola Company, and Piedmont became an indirect wholly owned subsidiary of the Company. 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 2020 filed with the United States 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 its 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 2020 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 Company’s Board of Directors during the quarter in which a change is contemplated and prior to making such change. Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2019‑12, “Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in income tax accounting and improves consistent application of and simplifies GAAP for other areas of income tax accounting by clarifying and amending existing guidance. The new guidance is effective for fiscal years

Related Party Transactions

Related Party Transactions	3 Months Ended
	Apr. 02, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Coca‑Cola Company The Company’s business consists primarily of the distribution, marketing and manufacture 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, 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 April 2, 2021, 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. The number of shares of the Company’s Common Stock currently held by The Coca‑Cola Company gives it the right to have a designee proposed by the Company for nomination to the Company’s Board of Directors in the Company’s annual proxy statement. 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 that 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: First Quarter (in thousands) 2021 2020 Payments made by the Company to The Coca‑Cola Company for: Concentrate, syrup, sweetener, finished products, and other purchases $ 307,425 $ 287,707 Customer marketing programs 32,694 32,991 Cold drink equipment parts 5,036 6,341 Brand investment programs 4,190 3,262 Payments made by The Coca‑Cola Company to the Company for: Marketing funding support payments $ 18,351 $ 21,546 Fountain delivery and equipment repair fees 8,818 9,090 Facilitating the distribution of certain brands and packages 2,508 1,157 Presence marketing funding support on the Company’s behalf — 1,735 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 comprehensive beverage agreements (collectively, the “CBA”). The CBA requires the Company 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 the Company’s sales of certain beverages and beverage products that are sold under the same trademarks that identify a covered beverage, a beverage product or certain cross-licensed brands. Sub-bottling payments to CCR were $10.0 million in the first quarter of 2021 and $10.5 million in the first quarter of 2020. 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) April 2, 2021 December 31, 2020 Current portion of acquisition related contingent consideration $ 38,014 $ 36,020 Noncurrent portion of acquisition related contingent consideration 397,732 398,674 Total acquisition related contingent consideration $ 435,746 $ 434,694 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 $22.4 million as of April 2, 2021 and $21.9 million as of December 31, 2020. South Atlantic Canners, Inc. (“SAC”) The Company is a shareholder of SAC, a manufacturing cooperative located 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 $8.2 million as of April 2, 2021 and $8.0 million as of December 31, 2020. The Company also guarantees a portion of SAC’s debt; see Note 20 for additional information. 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 $2.3 million in the first quarter of 2021 and $2.4 million in the first quarter of 2020. Coca‑Cola Bottlers’ Sales and Services Company, LLC (“CCBSS”) Along with all 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 $7.6 million on April 2, 2021 and $6.3 million on December 31, 2020, 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 $0.6 million in both the first quarter of 2021 and the first quarter of 2020, 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 $12.0 million as of April 2, 2021 and $11.5 million as of December 31, 2020. 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 $5.9 million in the first quarter of 2021 and $5.8 million in the first quarter of 2020. Related Party Leases The Company leases its headquarters office facility and an adjacent office facility in Charlotte, North Carolina from Beacon Investment Corporation, of which J. Frank Harrison, III is the majority stockholder and Morgan H. Everett, Vice Chair of the Company’s Board of Directors, is a minority stockholder. The annual base rent the Company is obligated to pay under this lease is subject to an adjustment for an inflation factor and the lease expires on December 31, 2029. The principal balance outstanding under this lease was $30.2 million on April 2, 2021 and $30.8 million on December 31, 2020. The Company leases the Snyder Production Center and an adjacent sales facility in Charlotte, North Carolina from Harrison Limited Partnership One, 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 annual base rent the Company is obligated to pay under this lease is subject to an adjustment for an inflation factor and the lease expires on December 31, 2035. The principal balance outstanding under this lease was $61.2 million on April 2, 2021 and $61.9 million on December 31, 2020. A summary of rental payments for these leases related to the first quarter of 2021 and the first quarter of 2020 is as follows: First Quarter (in thousands) 2021 2020 Company headquarters $ 945 $ 826 Snyder Production Center 1,113 1,113 Long-Term Performance Equity Plan The Long-Term Performance Equity Plan compensates J. Frank Harrison, III based on the Company’s performance. Awards granted to Mr. Harrison 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 Class B Common Stock, based on the average of the closing prices of shares of Common Stock during the last 20 trading days of the performance period. Compensation expense for the Long-Term Performance Equity Plan, which was included in SD&A expenses on the condensed consolidated statements of operations, was $1.9 million in the first quarter of 2021 and $1.8 million in the first quarter of 2020.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Apr. 02, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition 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 96% of the Company’s net sales in the first quarter of 2021 and approximately 97% of the Company’s net sales in the first quarter of 2020. 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: First Quarter (in thousands) 2021 2020 Point in time net sales: Nonalcoholic Beverages - point in time $ 1,225,212 $ 1,132,475 Total point in time net sales $ 1,225,212 $ 1,132,475 Over time net sales: Nonalcoholic Beverages - over time $ 9,878 $ 10,106 All Other - over time 34,767 30,440 Total over time net sales $ 44,645 $ 40,546 Total net sales $ 1,269,857 $ 1,173,021 The Company’s allowance for doubtful accounts in the condensed consolidated balance sheets includes a reserve for customer returns and an allowance for credit losses. 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. Returned product is recognized as a reduction to net sales. The Company’s reserve for customer returns was $3.6 million as of both April 2, 2021 and December 31, 2020. The Company estimates an allowance for credit losses, based on historic days’ sales outstanding trends, aged customer balances, previously written-off balances and expected recoveries up to balances previously written off, in order to present the net amount expected to be collected. Accounts receivable balances are written off when determined uncollectible and are recognized as a reduction to the allowance for credit losses. A reconciliation of the activity for the allowance for credit losses is as follows: First Quarter (in thousands) 2021 2020 Beginning balance - allowance for credit losses $ 18,070 $ 10,232 Additions charged to costs and expenses 1,270 3,167 Deductions (2,242) (787) Ending balance - allowance for credit losses $ 17,098 $ 12,612

Segments

Segments	3 Months Ended
	Apr. 02, 2021
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 net sales 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: First Quarter (in thousands) 2021 2020 Net sales: Nonalcoholic Beverages $ 1,235,090 $ 1,142,581 All Other 89,949 81,301 Eliminations (1) (55,182) (50,861) Consolidated net sales $ 1,269,857 $ 1,173,021 First Quarter (in thousands) 2021 2020 Income from operations: Nonalcoholic Beverages $ 95,042 $ 35,617 All Other (858) (2,796) Consolidated income from operations $ 94,184 $ 32,821 Depreciation and amortization: Nonalcoholic Beverages $ 40,551 $ 40,758 All Other 2,975 2,801 Consolidated depreciation and amortization $ 43,526 $ 43,559 (1) The entire net sales elimination 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	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands, except per share data) 2021 2020 Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: Net income attributable to Coca‑Cola Consolidated, Inc. $ 53,363 $ 14,662 Less dividends: Common Stock 1,785 1,786 Class B Common Stock 558 558 Total undistributed earnings $ 51,020 $ 12,318 Common Stock undistributed earnings – basic $ 38,871 $ 9,385 Class B Common Stock undistributed earnings – basic 12,149 2,933 Total undistributed earnings – basic $ 51,020 $ 12,318 Common Stock undistributed earnings – diluted $ 38,722 $ 9,314 Class B Common Stock undistributed earnings – diluted 12,298 3,004 Total undistributed earnings – diluted $ 51,020 $ 12,318 Numerator for basic net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,786 Common Stock undistributed earnings – basic 38,871 9,385 Numerator for basic net income per Common Stock share $ 40,656 $ 11,171 Numerator for basic net income per Class B Common Stock share: Dividends on Class B Common Stock $ 558 $ 558 Class B Common Stock undistributed earnings – basic 12,149 2,933 Numerator for basic net income per Class B Common Stock share $ 12,707 $ 3,491 Numerator for diluted net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,786 Dividends on Class B Common Stock assumed converted to Common Stock 558 558 Common Stock undistributed earnings – diluted 51,020 12,318 Numerator for diluted net income per Common Stock share $ 53,363 $ 14,662 First Quarter (in thousands, except per share data) 2021 2020 Numerator for diluted net income per Class B Common Stock share: Dividends on Class B Common Stock $ 558 $ 558 Class B Common Stock undistributed earnings – diluted 12,298 3,004 Numerator for diluted net income per Class B Common Stock share $ 12,856 $ 3,562 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 Class B Common Stock weighted average shares outstanding – basic 2,232 2,232 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) 9,409 9,444 Class B Common Stock weighted average shares outstanding – diluted 2,268 2,303 Basic net income per share: Common Stock $ 5.69 $ 1.56 Class B Common Stock $ 5.69 $ 1.56 Diluted net income per share: Common Stock $ 5.67 $ 1.55 Class B Common Stock $ 5.67 $ 1.55 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 includes 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 shares granted pursuant to the Long-Term Performance Equity Plan are excluded from the computation of diluted net loss per share, as the effect would have been 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 in the computation of diluted net income per share. (5) The Company did not have anti-dilutive shares for any periods presented.

Inventories

Inventories	3 Months Ended
	Apr. 02, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following: (in thousands) April 2, 2021 December 31, 2020 Finished products $ 166,978 $ 140,080 Manufacturing materials 50,045 47,081 Plastic shells, plastic pallets and other inventories 40,340 38,596 Total inventories $ 257,363 $ 225,757

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	3 Months Ended
	Apr. 02, 2021
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) April 2, 2021 December 31, 2020 Repair parts $ 26,955 $ 26,811 Prepaid taxes 7,873 8,428 Prepaid software 6,581 6,650 Prepaid marketing 6,023 4,773 Commodity hedges at fair market value 3,321 2,417 Other prepaid expenses and other current assets 25,839 25,067 Total prepaid expenses and other current assets $ 76,592 $ 74,146

Assets Held for Sale

Assets Held for Sale	3 Months Ended
	Apr. 02, 2021
Discontinued Operations and Disposal Groups [Abstract]
Assets Held for Sale	Assets Held for Sale Subsequent to the end of the first quarter of 2021, the Company opened a new, automated distribution center in Whitestown, Indiana, which allowed the Company to consolidate certain nearby warehousing and distribution operations into this one new facility. The Company believes the increased capacity and automation in Whitestown will allow the Company to optimize its supply chain and to better serve its customers and consumers in Indiana and the surrounding areas. In addition, the Company is in the process of integrating its Memphis, Tennessee manufacturing plant with its West Memphis, Arkansas operations, which is expected to greatly expand its West Memphis production capabilities and to reduce its overall production costs. As of April 2, 2021, certain properties owned by the Company, which are primarily those being consolidated in the Company’s supply chain optimization discussed above, met the accounting guidance criteria to be classified as assets held for sale. All properties classified as held for sale are included in the Nonalcoholic Beverages segment. There are not any liabilities held for sale associated with these properties and none meet the accounting guidance criteria to be classified as discontinued operations. Following is a summary of the assets held for sale: (in thousands) April 2, 2021 December 31, 2020 Land $ 2,547 $ 2,559 Buildings and leasehold and land improvements 3,803 3,870 Total assets held for sale $ 6,350 $ 6,429 An impairment of $1.6 million was recorded in 2020 for these locations as a result of the net book value exceeding the agreed upon purchase price of one of the locations.

Property, Plant and Equipment,

Property, Plant and Equipment, Net	3 Months Ended
	Apr. 02, 2021
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) April 2, 2021 December 31, 2020 Estimated Useful Lives Land $ 81,981 $ 81,981 Buildings 259,748 240,173 8-50 years Machinery and equipment 405,341 392,998 5-20 years Transportation equipment 449,350 445,218 3-20 years Furniture and fixtures 94,923 96,606 3-10 years Cold drink dispensing equipment 456,953 465,881 3-17 years Leasehold and land improvements 164,792 155,077 5-20 years Software for internal use 47,139 46,569 3-10 years Construction in progress 31,460 54,505 Total property, plant and equipment, at cost 1,991,687 1,979,008 Less: Accumulated depreciation and amortization 970,489 956,286 Property, plant and equipment, net $ 1,021,198 $ 1,022,722

Leases

Leases	3 Months Ended
	Apr. 02, 2021
Leases [Abstract]
Leases	Leases Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases: April 2, 2021 December 31, 2020 Weighted average remaining lease term: Operating leases 9.3 years 9.4 years Financing leases 13.2 years 13.4 years Weighted average discount rate: Operating leases 4.0 % 4.0 % Financing leases 3.2 % 3.2 % Following is a summary of the Company’s leases within the condensed consolidated statements of operations: First Quarter (in thousands) 2021 2020 Operating lease costs $ 6,254 $ 6,054 Short-term and variable leases 3,877 3,490 Depreciation expense from financing leases 1,414 925 Interest expense on financing lease obligations 584 266 Total lease cost $ 12,129 $ 10,735 The future minimum lease payments related to the Company’s leases 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 April 2, 2021: (in thousands) Operating Leases Financing Leases Remainder of 2021 $ 17,926 $ 5,317 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,826 Total minimum lease payments including interest $ 163,451 $ 90,478 Less: Amounts representing interest 28,576 15,813 Present value of minimum lease principal payments 134,875 74,665 Less: Current portion of lease liabilities 19,388 5,909 Noncurrent portion of lease liabilities $ 115,487 $ 68,756 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2020: (in thousands) Operating Leases Financing Leases 2021 $ 24,056 $ 7,079 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,827 Total minimum lease payments including interest $ 169,581 $ 92,241 Less: Amounts representing interest 29,892 16,397 Present value of minimum lease principal payments 139,689 75,844 Less: Current portion of lease liabilities 19,766 5,860 Noncurrent portion of lease liabilities $ 119,923 $ 69,984 Following is a summary of the Company’s leases within the condensed consolidated statements of cash flows: First Quarter (in thousands) 2021 2020 Cash flows from operating activities impact: Operating leases $ 6,129 $ 4,195 Interest payments on financing lease obligations 316 266 Total cash flows from operating activities impact $ 6,445 $ 4,461 Cash flows from financing activities impact: Principal payments on financing lease obligations $ 1,447 $ 1,485 Total cash flows from financing activities impact $ 1,447 $ 1,485 As of April 2, 2021, the Company had one equipment and two vehicle operating lease commitments that had not yet commenced. These lease commitments are expected to commence during the second quarter of 2021. The equipment lease has a lease term of approximately 10 years and the vehicle leases have lease terms of approximately three years. The additional lease liability associated with these lease commitments is expected to be $4.7 million.
Leases	Leases Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases: April 2, 2021 December 31, 2020 Weighted average remaining lease term: Operating leases 9.3 years 9.4 years Financing leases 13.2 years 13.4 years Weighted average discount rate: Operating leases 4.0 % 4.0 % Financing leases 3.2 % 3.2 % Following is a summary of the Company’s leases within the condensed consolidated statements of operations: First Quarter (in thousands) 2021 2020 Operating lease costs $ 6,254 $ 6,054 Short-term and variable leases 3,877 3,490 Depreciation expense from financing leases 1,414 925 Interest expense on financing lease obligations 584 266 Total lease cost $ 12,129 $ 10,735 The future minimum lease payments related to the Company’s leases 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 April 2, 2021: (in thousands) Operating Leases Financing Leases Remainder of 2021 $ 17,926 $ 5,317 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,826 Total minimum lease payments including interest $ 163,451 $ 90,478 Less: Amounts representing interest 28,576 15,813 Present value of minimum lease principal payments 134,875 74,665 Less: Current portion of lease liabilities 19,388 5,909 Noncurrent portion of lease liabilities $ 115,487 $ 68,756 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2020: (in thousands) Operating Leases Financing Leases 2021 $ 24,056 $ 7,079 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,827 Total minimum lease payments including interest $ 169,581 $ 92,241 Less: Amounts representing interest 29,892 16,397 Present value of minimum lease principal payments 139,689 75,844 Less: Current portion of lease liabilities 19,766 5,860 Noncurrent portion of lease liabilities $ 119,923 $ 69,984 Following is a summary of the Company’s leases within the condensed consolidated statements of cash flows: First Quarter (in thousands) 2021 2020 Cash flows from operating activities impact: Operating leases $ 6,129 $ 4,195 Interest payments on financing lease obligations 316 266 Total cash flows from operating activities impact $ 6,445 $ 4,461 Cash flows from financing activities impact: Principal payments on financing lease obligations $ 1,447 $ 1,485 Total cash flows from financing activities impact $ 1,447 $ 1,485 As of April 2, 2021, the Company had one equipment and two vehicle operating lease commitments that had not yet commenced. These lease commitments are expected to commence during the second quarter of 2021. The equipment lease has a lease term of approximately 10 years and the vehicle leases have lease terms of approximately three years. The additional lease liability associated with these lease commitments is expected to be $4.7 million.

Distribution Agreements, Net

Distribution Agreements, Net	3 Months Ended
	Apr. 02, 2021
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) April 2, 2021 December 31, 2020 Distribution agreements at cost $ 952,547 $ 952,533 Less: Accumulated amortization 104,902 98,780 Distribution agreements, net $ 847,645 $ 853,753 Customer lists, net, which are amortized on a straight-line basis and have an estimated useful life of five (in thousands) April 2, 2021 December 31, 2020 Customer lists at cost $ 25,288 $ 25,288 Less: Accumulated amortization 12,943 12,484 Customer lists, net $ 12,345 $ 12,804

Customer Lists, Net

Customer Lists, Net	3 Months Ended
	Apr. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Customer Lists, 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) April 2, 2021 December 31, 2020 Distribution agreements at cost $ 952,547 $ 952,533 Less: Accumulated amortization 104,902 98,780 Distribution agreements, net $ 847,645 $ 853,753 Customer lists, net, which are amortized on a straight-line basis and have an estimated useful life of five (in thousands) April 2, 2021 December 31, 2020 Customer lists at cost $ 25,288 $ 25,288 Less: Accumulated amortization 12,943 12,484 Customer lists, net $ 12,345 $ 12,804

Other Accrued Liabilities

Other Accrued Liabilities	3 Months Ended
	Apr. 02, 2021
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consisted of the following: (in thousands) April 2, 2021 December 31, 2020 Accrued insurance costs $ 51,022 $ 48,318 Accrued marketing costs 40,054 38,539 Current portion of acquisition related contingent consideration 38,014 36,020 Employee and retiree benefit plan accruals 32,531 31,653 Current portion of deferred payroll taxes under CARES Act 18,706 18,706 Accrued taxes (other than income taxes) 8,629 6,178 All other accrued expenses 30,628 25,727 Total other accrued liabilities $ 219,584 $ 205,141 The Company has taken advantage of certain provisions of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), which allow an employer to defer the deposit and payment of the employer’s portion of social security taxes that would otherwise be due on or after March 27, 2020 and before January 1, 2021. The law permits an employer to deposit half of these deferred payments by December 31, 2021 and the other half by December 31, 2022. The Company intends to repay a portion of the deferred payroll taxes in the next 12 months and has classified this portion as current.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Apr. 02, 2021
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 commodity derivative instruments. The Company does not use commodity derivative instruments for trading or speculative purposes. These commodity derivative instruments are not designated as hedging instruments under GAAP and are used as “economic hedges” to manage certain commodity price risk. 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 counterparties. Commodity derivative instruments held by the Company are marked to market on a monthly basis and recognized in earnings consistent with the expense classification of the underlying hedged item. The Company generally pays a fee for these commodity derivative instruments, which is amortized over the corresponding period of each commodity derivative instrument. Settlements of commodity derivative instruments are included in cash flows from operating activities in the condensed consolidated statements of cash flows. The following table summarizes pre-tax changes in the fair values of the Company’s commodity derivative instruments and the classification of such changes in the condensed consolidated statements of operations: First Quarter (in thousands) 2021 2020 Cost of sales $ 288 $ (1,536) Selling, delivery and administrative expenses 560 (2,329) Total gain (loss) $ 848 $ (3,865) All commodity derivative instruments are recorded at fair value as either assets or liabilities in the condensed consolidated balance sheets. The Company has master agreements with the counterparties to its commodity derivative instruments 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 either other accrued liabilities or other liabilities in the condensed consolidated balance sheets. The following table summarizes the fair values of the Company’s commodity derivative instruments and the classification of such instruments in the condensed consolidated balance sheets: (in thousands) April 2, 2021 December 31, 2020 Assets: Prepaid expenses and other current assets $ 3,321 $ 2,417 Other assets — 56 Total assets $ 3,321 $ 2,473 The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the condensed consolidated balance sheets: (in thousands) April 2, 2021 December 31, 2020 Gross commodity derivative instrument assets $ 4,383 $ 2,473 Gross commodity derivative instrument liabilities 1,062 — The following table summarizes the Company’s outstanding commodity derivative instruments: (in thousands) April 2, 2021 December 31, 2020 Notional amount of outstanding commodity derivative instruments $ 30,888 $ 23,030 Latest maturity date of outstanding commodity derivative instruments December 2021 December 2021

Fair Values of Financial Instru

Fair Values of Financial Instruments	3 Months Ended
	Apr. 02, 2021
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 Methods and Assumptions Deferred compensation plan assets and liabilities Level 1 The fair value of the Company’s nonqualified 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 values of the securities held within the mutual funds. Commodity derivative instruments Level 2 The fair values of the Company’s commodity derivative instruments are based on current settlement values at each balance sheet date, which represent the estimated amounts the Company would have received or paid upon termination of these instruments. The Company’s credit risk related to the commodity derivative instruments is managed by requiring high standards for its counterparties and periodic settlements. The Company considers nonperformance risk in determining the fair values of commodity derivative instruments. Long-term debt Level 2 The carrying amounts of the Company’s variable rate debt approximate the fair values due to variable interest rates with short reset periods. The fair values of the Company’s fixed rate debt are based on estimated current market prices. Acquisition related contingent consideration Level 3 The fair value of the Company’s acquisition related contingent consideration is based on internal forecasts and the weighted average cost of capital (“WACC”) derived from market data. The following tables summarize the carrying amounts and fair values by level of the Company’s deferred compensation plan assets and liabilities, commodity derivative instruments, long-term debt and acquisition related contingent consideration: April 2, 2021 (in thousands) Carrying Total Fair Value Fair Value Fair Value Assets: Deferred compensation plan assets $ 52,595 $ 52,595 $ 52,595 $ — $ — Commodity derivative instruments 3,321 3,321 — 3,321 — Liabilities: Deferred compensation plan liabilities 52,595 52,595 52,595 — — Long-term debt 909,304 967,350 — 967,350 — Acquisition related contingent consideration 435,746 435,746 — — 435,746 December 31, 2020 (in thousands) Carrying Total Fair Value Fair Value Fair Value Assets: Deferred compensation plan assets $ 51,742 $ 51,742 $ 51,742 $ — $ — Commodity derivative instruments 2,473 2,473 — 2,473 — Liabilities: Deferred compensation plan liabilities 51,742 51,742 51,742 — — Long-term debt 940,465 1,015,700 — 1,015,700 — Acquisition related contingent consideration 434,694 434,694 — — 434,694 The acquisition related contingent consideration was 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 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 liability and could materially impact the amount of non-cash expense (or income) recorded each reporting period. The acquisition related contingent consideration liability is the Company’s only Level 3 asset or liability. A summary of the Level 3 activity is as follows: First Quarter (in thousands) 2021 2020 Beginning balance - Level 3 liability $ 434,694 $ 446,684 Payments of acquisition related contingent consideration (10,046) (10,452) Reclassification to current payables 100 150 Increase in fair value 10,998 712 Ending balance - Level 3 liability $ 435,746 $ 437,094 As of April 2, 2021 and March 29, 2020, discount rates of 7.9% and 7.4%, respectively, were utilized in the valuation of the Company’s acquisition related contingent consideration liability. The increase in the fair value of the acquisition related contingent consideration liability in the first quarter of 2021 and the first quarter of 2020 was primarily driven by higher projections of future cash flows in the distribution territories subject to sub-bottling fees, partially offset by an increase in the discount rate used to calculate fair value. 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 the acquisition related contingent consideration arrangements for the distribution territories subject to sub-bottling fees is expected to be in the range of $30 million to $54 million.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate was 27.3% for the first quarter of 2021 and 25.6% for the first quarter of 2020. The increase in the effective income tax rate was primarily driven by the favorable tax benefit attributable to an income tax credit recorded during the first quarter of 2020, which did not reoccur in the first quarter of 2021. The Company had uncertain tax positions, including accrued interest, of $2.7 million on April 2, 2021 and $2.6 million on December 31, 2020, 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 2007 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	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands) 2021 2020 Service cost $ 1,863 $ 1,659 Interest cost 2,453 2,760 Expected return on plan assets (3,250) (3,383) Recognized net actuarial loss 1,219 1,189 Amortization of prior service cost 1 5 Net periodic pension cost $ 2,286 $ 2,230 The Company did not make any contributions to the two Company-sponsored pension plans during the first quarter of 2021. Contributions to the two Company-sponsored pension plans in 2021 are expected to be in the range of $8 million to $12 million. 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 prefund 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: First Quarter (in thousands) 2021 2020 Service cost $ 403 $ 376 Interest cost 447 503 Recognized net actuarial loss 186 88 Net periodic postretirement benefit cost $ 1,036 $ 967

Other Liabilities

Other Liabilities	3 Months Ended
	Apr. 02, 2021
Other Liabilities Disclosure [Abstract]
Other Liabilities	Other Liabilities Other liabilities consisted of the following: (in thousands) April 2, 2021 December 31, 2020 Noncurrent portion of acquisition related contingent consideration $ 397,732 $ 398,674 Accruals for executive benefit plans 133,539 144,101 Noncurrent deferred proceeds from related parties 108,590 109,361 Noncurrent portion of deferred payroll taxes under CARES Act 18,706 18,706 Other 8,318 8,438 Total other liabilities $ 666,885 $ 679,280

Long-Term Debt

Long-Term Debt	3 Months Ended
	Apr. 02, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Following is a summary of the Company’s long-term debt: (in thousands) Maturity Interest Interest Public/ April 2, December 31, Term loan facility (1) 6/7/2021 Variable Varies Nonpublic $ 186,250 $ 217,500 Senior notes 2/27/2023 3.28% Semi-annually Nonpublic 125,000 125,000 Revolving credit facility (2) 6/8/2023 Variable Varies Nonpublic — — Senior bonds (3) 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 bonds (3) 11/25/2025 (44) (43) Debt issuance costs (1,902) (1,992) Total long-term debt $ 909,304 $ 940,465 (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 using its revolving credit facility, which is classified as long-term debt, and the Company is not restricted by any subjective acceleration clause within the revolving credit agreement. As such, any amounts due in the next 12 months were classified as long term. (2) The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million. (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 indenture under which the Company’s senior bonds were issued does not include financial covenants but does 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 agreement. The Company was in compliance with these covenants as of April 2, 2021. 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	3 Months Ended
	Apr. 02, 2021
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 7.2 million cases and 7.7 million cases of finished product from SAC in the first quarter of 2021 and the first quarter of 2020, respectively. The following table summarizes the Company’s purchases from these manufacturing cooperatives: First Quarter (in thousands) 2021 2020 Purchases from Southeastern $ 27,544 $ 31,028 Purchases from SAC 41,253 41,834 Total purchases from manufacturing cooperatives $ 68,797 $ 72,862 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 April 2, 2021 and December 31, 2020. 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, other than a temporary impairment, was identified. No impairment of the Company’s investment in SAC was identified as of April 2, 2021, and there was no impairment identified in 2020. 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 both April 2, 2021 and December 31, 2020. The Company participates in long-term marketing contractual arrangements with certain prestige properties, athletic venues and other locations. As of April 2, 2021, the future payments related to these contractual arrangements, which expire at various dates through 2033, amounted to $155.7 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 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)	3 Months Ended
	Apr. 02, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Accumulated other comprehensive income (loss) (“AOCI(L)”) is comprised of adjustments to the Company’s pension and postretirement medical benefit plans, the interest rate swap on the Company’s term loan facility and the foreign currency translation for a subsidiary of the Company that performs data analysis and provides consulting services outside the United States. Following is a summary of AOCI(L) for the first quarter of 2021 and the first quarter of 2020: (in thousands) December 31, 2020 Pre-tax Activity Tax Effect April 2, 2021 Net pension activity: Actuarial loss $ (93,847) $ 1,219 $ (303) $ (92,931) Prior service credits 8 1 — 9 Net postretirement benefits activity: Actuarial loss (4,328) 186 (46) (4,188) Prior service costs (624) — — (624) Interest rate swap (556) 415 (103) (244) Foreign currency translation adjustment 14 (49) 12 (23) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (119,053) $ 1,772 $ (440) $ (117,721) (in thousands) December 29, 2019 Pre-tax Activity Tax Effect March 29, 2020 Net pension activity: Actuarial loss $ (93,174) $ 1,189 $ (293) $ (92,278) Prior service costs (7) 5 (1) (3) Net postretirement benefits activity: Actuarial loss (1,191) 88 (22) (1,125) Prior service costs (624) — — (624) Interest rate swap (270) (1,347) 332 (1,285) Foreign currency translation adjustment (16) (1) — (17) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (115,002) $ (66) $ 16 $ (115,052) Following is a summary of the impact of AOCI(L) on the condensed consolidated statements of operations: First Quarter 2021 (in thousands) Net Pension Activity Net Postretirement Benefits Activity Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 348 $ 103 $ — $ — $ 451 Selling, delivery and administrative expenses 872 83 415 (49) 1,321 Subtotal pre-tax 1,220 186 415 (49) 1,772 Income tax expense (benefit) 303 46 103 (12) 440 Total after tax effect $ 917 $ 140 $ 312 $ (37) $ 1,332 First Quarter 2020 (in thousands) Net Pension Activity Net Postretirement Benefits Activity Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 334 $ 48 $ — $ — $ 382 Selling, delivery and administrative expenses 860 40 (1,347) (1) (448) Subtotal pre-tax 1,194 88 (1,347) (1) (66) Income tax expense (benefit) 294 22 (332) — (16) Total after tax effect $ 900 $ 66 $ (1,015) $ (1) $ (50)

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	3 Months Ended
	Apr. 02, 2021
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 Quarter (in thousands) 2021 2020 Accounts receivable, trade $ (34,577) $ (37,316) Allowance for doubtful accounts (972) 2,380 Accounts receivable from The Coca‑Cola Company (13,529) 5,751 Accounts receivable, other 4,475 939 Inventories (31,606) (2,698) Prepaid expenses and other current assets (2,446) (4,131) Accounts payable, trade 13,192 29,044 Accounts payable to The Coca‑Cola Company 35,114 28,067 Other accrued liabilities 14,443 (27,263) Accrued compensation (25,072) (39,347) Accrued interest payable 2,316 2,264 Change in current assets less current liabilities $ (38,662) $ (42,310)

Critical Accounting Policies _2

Critical Accounting Policies and Recent Accounting Pronouncements (Policies)	3 Months Ended
	Apr. 02, 2021
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 its 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 2020 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 Company’s Board of Directors during the quarter in which a change is contemplated and prior to making such change.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2019‑12, “Simplifying the Accounting for Income Taxes,” which simplifies the accounting for income taxes by removing certain exceptions to the general principles in income tax accounting and improves consistent application of and simplifies GAAP for other areas of income tax accounting by clarifying and amending existing guidance. The new guidance is effective for fiscal years
Revenue Recognition	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 96% of the Company’s net sales in the first quarter of 2021 and approximately 97% of the Company’s net sales in the first quarter of 2020. 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.

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands) 2021 2020 Payments made by the Company to The Coca‑Cola Company for: Concentrate, syrup, sweetener, finished products, and other purchases $ 307,425 $ 287,707 Customer marketing programs 32,694 32,991 Cold drink equipment parts 5,036 6,341 Brand investment programs 4,190 3,262 Payments made by The Coca‑Cola Company to the Company for: Marketing funding support payments $ 18,351 $ 21,546 Fountain delivery and equipment repair fees 8,818 9,090 Facilitating the distribution of certain brands and packages 2,508 1,157 Presence marketing funding support on the Company’s behalf — 1,735
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) April 2, 2021 December 31, 2020 Current portion of acquisition related contingent consideration $ 38,014 $ 36,020 Noncurrent portion of acquisition related contingent consideration 397,732 398,674 Total acquisition related contingent consideration $ 435,746 $ 434,694
Summary of Rental Payments Related to Leases	A summary of rental payments for these leases related to the first quarter of 2021 and the first quarter of 2020 is as follows: First Quarter (in thousands) 2021 2020 Company headquarters $ 945 $ 826 Snyder Production Center 1,113 1,113

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands) 2021 2020 Point in time net sales: Nonalcoholic Beverages - point in time $ 1,225,212 $ 1,132,475 Total point in time net sales $ 1,225,212 $ 1,132,475 Over time net sales: Nonalcoholic Beverages - over time $ 9,878 $ 10,106 All Other - over time 34,767 30,440 Total over time net sales $ 44,645 $ 40,546 Total net sales $ 1,269,857 $ 1,173,021
Summary of Activity for Allowance for Credit Losses	A reconciliation of the activity for the allowance for credit losses is as follows: First Quarter (in thousands) 2021 2020 Beginning balance - allowance for credit losses $ 18,070 $ 10,232 Additions charged to costs and expenses 1,270 3,167 Deductions (2,242) (787) Ending balance - allowance for credit losses $ 17,098 $ 12,612

Segments (Tables)

Segments (Tables)	3 Months Ended
	Apr. 02, 2021
Segment Reporting [Abstract]
Summary of Financial Information by Segment	The Company’s segment results are as follows: First Quarter (in thousands) 2021 2020 Net sales: Nonalcoholic Beverages $ 1,235,090 $ 1,142,581 All Other 89,949 81,301 Eliminations (1) (55,182) (50,861) Consolidated net sales $ 1,269,857 $ 1,173,021 First Quarter (in thousands) 2021 2020 Income from operations: Nonalcoholic Beverages $ 95,042 $ 35,617 All Other (858) (2,796) Consolidated income from operations $ 94,184 $ 32,821 Depreciation and amortization: Nonalcoholic Beverages $ 40,551 $ 40,758 All Other 2,975 2,801 Consolidated depreciation and amortization $ 43,526 $ 43,559 (1) The entire net sales elimination 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)	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands, except per share data) 2021 2020 Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: Net income attributable to Coca‑Cola Consolidated, Inc. $ 53,363 $ 14,662 Less dividends: Common Stock 1,785 1,786 Class B Common Stock 558 558 Total undistributed earnings $ 51,020 $ 12,318 Common Stock undistributed earnings – basic $ 38,871 $ 9,385 Class B Common Stock undistributed earnings – basic 12,149 2,933 Total undistributed earnings – basic $ 51,020 $ 12,318 Common Stock undistributed earnings – diluted $ 38,722 $ 9,314 Class B Common Stock undistributed earnings – diluted 12,298 3,004 Total undistributed earnings – diluted $ 51,020 $ 12,318 Numerator for basic net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,786 Common Stock undistributed earnings – basic 38,871 9,385 Numerator for basic net income per Common Stock share $ 40,656 $ 11,171 Numerator for basic net income per Class B Common Stock share: Dividends on Class B Common Stock $ 558 $ 558 Class B Common Stock undistributed earnings – basic 12,149 2,933 Numerator for basic net income per Class B Common Stock share $ 12,707 $ 3,491 Numerator for diluted net income per Common Stock share: Dividends on Common Stock $ 1,785 $ 1,786 Dividends on Class B Common Stock assumed converted to Common Stock 558 558 Common Stock undistributed earnings – diluted 51,020 12,318 Numerator for diluted net income per Common Stock share $ 53,363 $ 14,662 First Quarter (in thousands, except per share data) 2021 2020 Numerator for diluted net income per Class B Common Stock share: Dividends on Class B Common Stock $ 558 $ 558 Class B Common Stock undistributed earnings – diluted 12,298 3,004 Numerator for diluted net income per Class B Common Stock share $ 12,856 $ 3,562 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 Class B Common Stock weighted average shares outstanding – basic 2,232 2,232 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) 9,409 9,444 Class B Common Stock weighted average shares outstanding – diluted 2,268 2,303 Basic net income per share: Common Stock $ 5.69 $ 1.56 Class B Common Stock $ 5.69 $ 1.56 Diluted net income per share: Common Stock $ 5.67 $ 1.55 Class B Common Stock $ 5.67 $ 1.55 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 includes 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 shares granted pursuant to the Long-Term Performance Equity Plan are excluded from the computation of diluted net loss per share, as the effect would have been 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 in the computation of diluted net income per share. (5) The Company did not have anti-dilutive shares for any periods presented.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 02, 2021
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories consisted of the following: (in thousands) April 2, 2021 December 31, 2020 Finished products $ 166,978 $ 140,080 Manufacturing materials 50,045 47,081 Plastic shells, plastic pallets and other inventories 40,340 38,596 Total inventories $ 257,363 $ 225,757

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	3 Months Ended
	Apr. 02, 2021
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) April 2, 2021 December 31, 2020 Repair parts $ 26,955 $ 26,811 Prepaid taxes 7,873 8,428 Prepaid software 6,581 6,650 Prepaid marketing 6,023 4,773 Commodity hedges at fair market value 3,321 2,417 Other prepaid expenses and other current assets 25,839 25,067 Total prepaid expenses and other current assets $ 76,592 $ 74,146

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	3 Months Ended
	Apr. 02, 2021
Discontinued Operations and Disposal Groups [Abstract]
Summary of Assets Held for Sale	Following is a summary of the assets held for sale: (in thousands) April 2, 2021 December 31, 2020 Land $ 2,547 $ 2,559 Buildings and leasehold and land improvements 3,803 3,870 Total assets held for sale $ 6,350 $ 6,429

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	3 Months Ended
	Apr. 02, 2021
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) April 2, 2021 December 31, 2020 Estimated Useful Lives Land $ 81,981 $ 81,981 Buildings 259,748 240,173 8-50 years Machinery and equipment 405,341 392,998 5-20 years Transportation equipment 449,350 445,218 3-20 years Furniture and fixtures 94,923 96,606 3-10 years Cold drink dispensing equipment 456,953 465,881 3-17 years Leasehold and land improvements 164,792 155,077 5-20 years Software for internal use 47,139 46,569 3-10 years Construction in progress 31,460 54,505 Total property, plant and equipment, at cost 1,991,687 1,979,008 Less: Accumulated depreciation and amortization 970,489 956,286 Property, plant and equipment, net $ 1,021,198 $ 1,022,722

Leases (Tables)

Leases (Tables)	3 Months Ended
	Apr. 02, 2021
Leases [Abstract]
Summary of Weighted Average Remaining Lease Term and Discount Rate and Leases within Condensed Consolidated Statement of Operations	Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases: April 2, 2021 December 31, 2020 Weighted average remaining lease term: Operating leases 9.3 years 9.4 years Financing leases 13.2 years 13.4 years Weighted average discount rate: Operating leases 4.0 % 4.0 % Financing leases 3.2 % 3.2 % Following is a summary of the Company’s leases within the condensed consolidated statements of operations: First Quarter (in thousands) 2021 2020 Operating lease costs $ 6,254 $ 6,054 Short-term and variable leases 3,877 3,490 Depreciation expense from financing leases 1,414 925 Interest expense on financing lease obligations 584 266 Total lease cost $ 12,129 $ 10,735
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 April 2, 2021: (in thousands) Operating Leases Financing Leases Remainder of 2021 $ 17,926 $ 5,317 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,826 Total minimum lease payments including interest $ 163,451 $ 90,478 Less: Amounts representing interest 28,576 15,813 Present value of minimum lease principal payments 134,875 74,665 Less: Current portion of lease liabilities 19,388 5,909 Noncurrent portion of lease liabilities $ 115,487 $ 68,756 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2020: (in thousands) Operating Leases Financing Leases 2021 $ 24,056 $ 7,079 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,827 Total minimum lease payments including interest $ 169,581 $ 92,241 Less: Amounts representing interest 29,892 16,397 Present value of minimum lease principal payments 139,689 75,844 Less: Current portion of lease liabilities 19,766 5,860 Noncurrent portion of lease liabilities $ 119,923 $ 69,984
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 April 2, 2021: (in thousands) Operating Leases Financing Leases Remainder of 2021 $ 17,926 $ 5,317 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,826 Total minimum lease payments including interest $ 163,451 $ 90,478 Less: Amounts representing interest 28,576 15,813 Present value of minimum lease principal payments 134,875 74,665 Less: Current portion of lease liabilities 19,388 5,909 Noncurrent portion of lease liabilities $ 115,487 $ 68,756 Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2020: (in thousands) Operating Leases Financing Leases 2021 $ 24,056 $ 7,079 2022 20,970 7,145 2023 18,125 7,201 2024 15,330 7,396 2025 13,747 7,593 Thereafter 77,353 55,827 Total minimum lease payments including interest $ 169,581 $ 92,241 Less: Amounts representing interest 29,892 16,397 Present value of minimum lease principal payments 139,689 75,844 Less: Current portion of lease liabilities 19,766 5,860 Noncurrent portion of lease liabilities $ 119,923 $ 69,984
Summary of Leases within Condensed Consolidated Statement of Cash Flow	Following is a summary of the Company’s leases within the condensed consolidated statements of cash flows: First Quarter (in thousands) 2021 2020 Cash flows from operating activities impact: Operating leases $ 6,129 $ 4,195 Interest payments on financing lease obligations 316 266 Total cash flows from operating activities impact $ 6,445 $ 4,461 Cash flows from financing activities impact: Principal payments on financing lease obligations $ 1,447 $ 1,485 Total cash flows from financing activities impact $ 1,447 $ 1,485

Distribution Agreements, Net (T

Distribution Agreements, Net (Tables)	3 Months Ended
	Apr. 02, 2021
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) April 2, 2021 December 31, 2020 Distribution agreements at cost $ 952,547 $ 952,533 Less: Accumulated amortization 104,902 98,780 Distribution agreements, net $ 847,645 $ 853,753 Customer lists, net, which are amortized on a straight-line basis and have an estimated useful life of five (in thousands) April 2, 2021 December 31, 2020 Customer lists at cost $ 25,288 $ 25,288 Less: Accumulated amortization 12,943 12,484 Customer lists, net $ 12,345 $ 12,804

Customer Lists, Net (Tables)

Customer Lists, Net (Tables)	3 Months Ended
	Apr. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Customer Lists, 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) April 2, 2021 December 31, 2020 Distribution agreements at cost $ 952,547 $ 952,533 Less: Accumulated amortization 104,902 98,780 Distribution agreements, net $ 847,645 $ 853,753 Customer lists, net, which are amortized on a straight-line basis and have an estimated useful life of five (in thousands) April 2, 2021 December 31, 2020 Customer lists at cost $ 25,288 $ 25,288 Less: Accumulated amortization 12,943 12,484 Customer lists, net $ 12,345 $ 12,804

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	3 Months Ended
	Apr. 02, 2021
Payables and Accruals [Abstract]
Summary of Other Accrued Liabilities	Other accrued liabilities consisted of the following: (in thousands) April 2, 2021 December 31, 2020 Accrued insurance costs $ 51,022 $ 48,318 Accrued marketing costs 40,054 38,539 Current portion of acquisition related contingent consideration 38,014 36,020 Employee and retiree benefit plan accruals 32,531 31,653 Current portion of deferred payroll taxes under CARES Act 18,706 18,706 Accrued taxes (other than income taxes) 8,629 6,178 All other accrued expenses 30,628 25,727 Total other accrued liabilities $ 219,584 $ 205,141

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Apr. 02, 2021
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 values of the Company’s commodity derivative instruments and the classification of such changes in the condensed consolidated statements of operations: First Quarter (in thousands) 2021 2020 Cost of sales $ 288 $ (1,536) Selling, delivery and administrative expenses 560 (2,329) Total gain (loss) $ 848 $ (3,865)
Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments	The following table summarizes the fair values of the Company’s commodity derivative instruments and the classification of such instruments in the condensed consolidated balance sheets: (in thousands) April 2, 2021 December 31, 2020 Assets: Prepaid expenses and other current assets $ 3,321 $ 2,417 Other assets — 56 Total assets $ 3,321 $ 2,473
Summary of Gross Derivative Assets and Gross Commodity Derivative Assets and Liabilities in Condensed Consolidated Balance Sheets	The following table summarizes the Company’s gross commodity derivative instrument assets and gross commodity derivative instrument liabilities in the condensed consolidated balance sheets: (in thousands) April 2, 2021 December 31, 2020 Gross commodity derivative instrument assets $ 4,383 $ 2,473 Gross commodity derivative instrument liabilities 1,062 —
Summary of Outstanding Commodity Derivative Instruments	The following table summarizes the Company’s outstanding commodity derivative instruments: (in thousands) April 2, 2021 December 31, 2020 Notional amount of outstanding commodity derivative instruments $ 30,888 $ 23,030 Latest maturity date of outstanding commodity derivative instruments December 2021 December 2021

Fair Values of Financial Inst_2

Fair Values of Financial Instruments (Tables)	3 Months Ended
	Apr. 02, 2021
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 Methods and Assumptions Deferred compensation plan assets and liabilities Level 1 The fair value of the Company’s nonqualified 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 values of the securities held within the mutual funds. Commodity derivative instruments Level 2 The fair values of the Company’s commodity derivative instruments are based on current settlement values at each balance sheet date, which represent the estimated amounts the Company would have received or paid upon termination of these instruments. The Company’s credit risk related to the commodity derivative instruments is managed by requiring high standards for its counterparties and periodic settlements. The Company considers nonperformance risk in determining the fair values of commodity derivative instruments. Long-term debt Level 2 The carrying amounts of the Company’s variable rate debt approximate the fair values due to variable interest rates with short reset periods. The fair values of the Company’s fixed rate debt are based on estimated current market prices. Acquisition related contingent consideration Level 3 The fair value of the Company’s acquisition related contingent consideration is based on internal forecasts and the weighted average cost of capital (“WACC”) derived from market data.
Deferred Compensation Plan, Commodity Derivative Instruments, Debt and Acquisition Related Contingent Consideration	The following tables summarize the carrying amounts and fair values by level of the Company’s deferred compensation plan assets and liabilities, commodity derivative instruments, long-term debt and acquisition related contingent consideration: April 2, 2021 (in thousands) Carrying Total Fair Value Fair Value Fair Value Assets: Deferred compensation plan assets $ 52,595 $ 52,595 $ 52,595 $ — $ — Commodity derivative instruments 3,321 3,321 — 3,321 — Liabilities: Deferred compensation plan liabilities 52,595 52,595 52,595 — — Long-term debt 909,304 967,350 — 967,350 — Acquisition related contingent consideration 435,746 435,746 — — 435,746 December 31, 2020 (in thousands) Carrying Total Fair Value Fair Value Fair Value Assets: Deferred compensation plan assets $ 51,742 $ 51,742 $ 51,742 $ — $ — Commodity derivative instruments 2,473 2,473 — 2,473 — Liabilities: Deferred compensation plan liabilities 51,742 51,742 51,742 — — Long-term debt 940,465 1,015,700 — 1,015,700 — Acquisition related contingent consideration 434,694 434,694 — — 434,694
Summary of Acquisition Related Contingent Consideration Liability	A summary of the Level 3 activity is as follows: First Quarter (in thousands) 2021 2020 Beginning balance - Level 3 liability $ 434,694 $ 446,684 Payments of acquisition related contingent consideration (10,046) (10,452) Reclassification to current payables 100 150 Increase in fair value 10,998 712 Ending balance - Level 3 liability $ 435,746 $ 437,094

Pension and Postretirement Be_2

Pension and Postretirement Benefit Obligations (Tables)	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands) 2021 2020 Service cost $ 1,863 $ 1,659 Interest cost 2,453 2,760 Expected return on plan assets (3,250) (3,383) Recognized net actuarial loss 1,219 1,189 Amortization of prior service cost 1 5 Net periodic pension cost $ 2,286 $ 2,230 The components of net periodic postretirement benefit cost were as follows: First Quarter (in thousands) 2021 2020 Service cost $ 403 $ 376 Interest cost 447 503 Recognized net actuarial loss 186 88 Net periodic postretirement benefit cost $ 1,036 $ 967

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Apr. 02, 2021
Other Liabilities Disclosure [Abstract]
Summary of Other Liabilities	Other liabilities consisted of the following: (in thousands) April 2, 2021 December 31, 2020 Noncurrent portion of acquisition related contingent consideration $ 397,732 $ 398,674 Accruals for executive benefit plans 133,539 144,101 Noncurrent deferred proceeds from related parties 108,590 109,361 Noncurrent portion of deferred payroll taxes under CARES Act 18,706 18,706 Other 8,318 8,438 Total other liabilities $ 666,885 $ 679,280

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Apr. 02, 2021
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Following is a summary of the Company’s long-term debt: (in thousands) Maturity Interest Interest Public/ April 2, December 31, Term loan facility (1) 6/7/2021 Variable Varies Nonpublic $ 186,250 $ 217,500 Senior notes 2/27/2023 3.28% Semi-annually Nonpublic 125,000 125,000 Revolving credit facility (2) 6/8/2023 Variable Varies Nonpublic — — Senior bonds (3) 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 bonds (3) 11/25/2025 (44) (43) Debt issuance costs (1,902) (1,992) Total long-term debt $ 909,304 $ 940,465 (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 using its revolving credit facility, which is classified as long-term debt, and the Company is not restricted by any subjective acceleration clause within the revolving credit agreement. As such, any amounts due in the next 12 months were classified as long term. (2) The Company’s revolving credit facility has an aggregate maximum borrowing capacity of $500 million. (3) The senior notes due in 2025 were issued at 99.975% of par.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Apr. 02, 2021
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: First Quarter (in thousands) 2021 2020 Purchases from Southeastern $ 27,544 $ 31,028 Purchases from SAC 41,253 41,834 Total purchases from manufacturing cooperatives $ 68,797 $ 72,862

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Apr. 02, 2021
Equity [Abstract]
Summary of Accumulated Other Comprehensive (Loss)	Following is a summary of AOCI(L) for the first quarter of 2021 and the first quarter of 2020: (in thousands) December 31, 2020 Pre-tax Activity Tax Effect April 2, 2021 Net pension activity: Actuarial loss $ (93,847) $ 1,219 $ (303) $ (92,931) Prior service credits 8 1 — 9 Net postretirement benefits activity: Actuarial loss (4,328) 186 (46) (4,188) Prior service costs (624) — — (624) Interest rate swap (556) 415 (103) (244) Foreign currency translation adjustment 14 (49) 12 (23) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (119,053) $ 1,772 $ (440) $ (117,721) (in thousands) December 29, 2019 Pre-tax Activity Tax Effect March 29, 2020 Net pension activity: Actuarial loss $ (93,174) $ 1,189 $ (293) $ (92,278) Prior service costs (7) 5 (1) (3) Net postretirement benefits activity: Actuarial loss (1,191) 88 (22) (1,125) Prior service costs (624) — — (624) Interest rate swap (270) (1,347) 332 (1,285) Foreign currency translation adjustment (16) (1) — (17) Reclassification of stranded tax effects (19,720) — — (19,720) Total AOCI(L) $ (115,002) $ (66) $ 16 $ (115,052)
Summary of Impact of Accumulated Other Comprehensive Income (Loss) on Statement of Operations	Following is a summary of the impact of AOCI(L) on the condensed consolidated statements of operations: First Quarter 2021 (in thousands) Net Pension Activity Net Postretirement Benefits Activity Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 348 $ 103 $ — $ — $ 451 Selling, delivery and administrative expenses 872 83 415 (49) 1,321 Subtotal pre-tax 1,220 186 415 (49) 1,772 Income tax expense (benefit) 303 46 103 (12) 440 Total after tax effect $ 917 $ 140 $ 312 $ (37) $ 1,332 First Quarter 2020 (in thousands) Net Pension Activity Net Postretirement Benefits Activity Interest Rate Swap Foreign Currency Translation Adjustment Total Cost of sales $ 334 $ 48 $ — $ — $ 382 Selling, delivery and administrative expenses 860 40 (1,347) (1) (448) Subtotal pre-tax 1,194 88 (1,347) (1) (66) Income tax expense (benefit) 294 22 (332) — (16) Total after tax effect $ 900 $ 66 $ (1,015) $ (1) $ (50)

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information (Tables)	3 Months Ended
	Apr. 02, 2021
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 Quarter (in thousands) 2021 2020 Accounts receivable, trade $ (34,577) $ (37,316) Allowance for doubtful accounts (972) 2,380 Accounts receivable from The Coca‑Cola Company (13,529) 5,751 Accounts receivable, other 4,475 939 Inventories (31,606) (2,698) Prepaid expenses and other current assets (2,446) (4,131) Accounts payable, trade 13,192 29,044 Accounts payable to The Coca‑Cola Company 35,114 28,067 Other accrued liabilities 14,443 (27,263) Accrued compensation (25,072) (39,347) Accrued interest payable 2,316 2,264 Change in current assets less current liabilities $ (38,662) $ (42,310)

Critical Accounting Policies _3

Critical Accounting Policies and Recent Accounting Pronouncements (Details)	Dec. 08, 2020
Piedmont Coca Cola Bottling Partnership
Noncontrolling Interest [Line Items]
Minority interest percentage	22.70%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020	Dec. 31, 2020
Related Party Transaction [Line Items]
Payments of acquisition related contingent consideration	$ 10,046	$ 10,452
Accounts receivable from related party	62,732		$ 49,203
Lease liability, operating lease	134,875		139,689
Lease liability, finance lease	$ 74,665		75,844
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]
Selling, distribution and administrative expenses	$ 1,900	1,800
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]
Payments of acquisition related contingent consideration	$ 10,000	10,500
Southeastern | Other Assets
Related Party Transaction [Line Items]
Equity investments	22,400		21,900
SAC
Related Party Transaction [Line Items]
Proceeds from management fees received from SAC, classified as reduction of cost of sales	2,300	2,400
SAC | Other Assets
Related Party Transaction [Line Items]
Equity investments	8,200		8,000
CCBSS
Related Party Transaction [Line Items]
Accounts receivable from related party	7,600		6,300
Administrative fees due to CCBSS	600	600
CONA
Related Party Transaction [Line Items]
Service fees	5,900	$ 5,800
CONA | Other Assets
Related Party Transaction [Line Items]
Equity investments	12,000		11,500
Beacon, Company Headquarters
Related Party Transaction [Line Items]
Lease liability, operating lease	30,200		30,800
HLP, SPC & Adjacent Sales Facility
Related Party Transaction [Line Items]
Lease liability, finance lease	$ 61,200		$ 61,900

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
	Apr. 02, 2021	Mar. 29, 2020
Payments made by the Company to The Coca‑Cola Company for:
Concentrate, syrup, sweetener, finished products, and other purchases	$ 307,425	$ 287,707
Customer marketing programs	32,694	32,991
Cold drink equipment parts	5,036	6,341
Brand investment programs	4,190	3,262
Payments made by The Coca‑Cola Company to the Company for:
Marketing funding support payments	18,351	21,546
Fountain delivery and equipment repair fees	8,818	9,090
Facilitating the distribution of certain brands and packages	2,508	1,157
Presence marketing funding support on the Company’s behalf	$ 0	$ 1,735

Related Party Transactions - _2

Related Party Transactions - Summary of Liability to Estimated Fair Value of Contingent Consideration (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Current portion of acquisition related contingent consideration	$ 38,014	$ 36,020
Noncurrent portion of acquisition related contingent consideration	397,732	398,674
CCR | Comprehensive Beverage Agreement
Related Party Transaction [Line Items]
Current portion of acquisition related contingent consideration	38,014	36,020
Noncurrent portion of acquisition related contingent consideration	397,732	398,674
Total acquisition related contingent consideration	$ 435,746	$ 434,694

Related Party Transactions - _3

Related Party Transactions - Summary of Rental Payments Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Company Headquarters
Related Party Transaction [Line Items]
Rental payments related to leases	$ 945	$ 826
Snyder Production Center
Related Party Transaction [Line Items]
Rental payments related to leases	$ 1,113	$ 1,113

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) $ in Millions	3 Months Ended
	Apr. 02, 2021USD ($)category	Mar. 29, 2020	Dec. 31, 2020USD ($)
Revenue From Contract With Customer [Line Items]
Number of sales categories | category	2
Reserve for customer return | $	$ 3.6		$ 3.6
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	96.00%	97.00%

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Disaggregation of Revenue [Line Items]
Net sales	$ 1,269,857	$ 1,173,021
Point in Time Net Sales
Disaggregation of Revenue [Line Items]
Net sales	1,225,212	1,132,475
Point in Time Net Sales | Nonalcoholic Beverages
Disaggregation of Revenue [Line Items]
Net sales	1,225,212	1,132,475
Over Time Net Sales
Disaggregation of Revenue [Line Items]
Net sales	44,645	40,546
Over Time Net Sales | Nonalcoholic Beverages
Disaggregation of Revenue [Line Items]
Net sales	9,878	10,106
Over Time Net Sales | All Other
Disaggregation of Revenue [Line Items]
Net sales	$ 34,767	$ 30,440

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance - allowance for credit losses	$ 18,070	$ 10,232
Additions charged to costs and expenses	1,270	3,167
Deductions	(2,242)	(787)
Ending balance - allowance for credit losses	$ 17,098	$ 12,612

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Apr. 02, 2021segment
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
	Apr. 02, 2021	Mar. 29, 2020
Net sales:
Consolidated net sales	$ 1,269,857	$ 1,173,021
Income from operations:
Consolidated income from operations	94,184	32,821
Depreciation and amortization:
Consolidated depreciation and amortization	43,526	43,559
Operating Segments | Nonalcoholic Beverages
Net sales:
Consolidated net sales	1,235,090	1,142,581
Income from operations:
Consolidated income from operations	95,042	35,617
Depreciation and amortization:
Consolidated depreciation and amortization	40,551	40,758
Operating Segments | All Other
Net sales:
Consolidated net sales	89,949	81,301
Income from operations:
Consolidated income from operations	(858)	(2,796)
Depreciation and amortization:
Consolidated depreciation and amortization	2,975	2,801
Eliminations
Net sales:
Consolidated net sales	$ (55,182)	$ (50,861)

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
	Apr. 02, 2021	Mar. 29, 2020
Numerator for basic and diluted net income per Common Stock and Class B Common Stock share:
Net income attributable to Coca‑Cola Consolidated, Inc.	$ 53,363	$ 14,662
Less dividends:
Total undistributed earnings – basic	51,020	12,318
Total undistributed earnings – diluted	51,020	12,318
Common Stock
Less dividends:
Common Stock	1,785	1,786
Total undistributed earnings – basic	38,871	9,385
Total undistributed earnings – diluted	38,722	9,314
Numerator for basic net income per Common Stock share:
Numerator for basic net income per Common Stock share	40,656	11,171
Numerator for diluted net income per Common Stock share:
Numerator for diluted net income per Common Stock share	$ 53,363	$ 14,662
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
Denominator for diluted net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding - diluted (assuming conversion of Class B Common Stock to Common Stock) (in shares)	9,409	9,444
Basic net income per share:
Common Stock (in dollars per share)	$ 5.69	$ 1.56
Diluted net income per share:
Common Stock (in dollars per share)	$ 5.67	$ 1.55
Class B Common Stock
Less dividends:
Common Stock	$ 558	$ 558
Total undistributed earnings – basic	12,149	2,933
Total undistributed earnings – diluted	12,298	3,004
Numerator for basic net income per Common Stock share:
Numerator for basic net income per Common Stock share	12,707	3,491
Numerator for diluted net income per Common Stock share:
Numerator for diluted net income per Common Stock share	$ 12,856	$ 3,562
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
Denominator for diluted net income per Common Stock and Class B Common Stock share:
Common Stock weighted average shares outstanding - diluted (assuming conversion of Class B Common Stock to Common Stock) (in shares)	2,268	2,303
Basic net income per share:
Common Stock (in dollars per share)	$ 5.69	$ 1.56
Diluted net income per share:
Common Stock (in dollars per share)	$ 5.67	$ 1.55

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
	Apr. 02, 2021	Mar. 29, 2020
Earnings Per Share [Abstract]
Percentage undistributed earnings allocated to common stock diluted	100.00%	100.00%
Anti-dilutive shares	0	0

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished products	$ 166,978	$ 140,080
Manufacturing materials	50,045	47,081
Plastic shells, plastic pallets and other inventories	40,340	38,596
Total inventories	$ 257,363	$ 225,757

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets [Abstract]
Repair parts	$ 26,955	$ 26,811
Prepaid taxes	7,873	8,428
Prepaid software	6,581	6,650
Prepaid marketing	6,023	4,773
Commodity hedges at fair market value	3,321	2,417
Other prepaid expenses and other current assets	25,839	25,067
Total prepaid expenses and other current assets	$ 76,592	$ 74,146

Assets Held for Sale (Details)

Assets Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Apr. 02, 2021	Mar. 29, 2020	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of property, plant and equipment	$ 500	$ 0
Assets Held for Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total assets held for sale	6,350		$ 6,429
Impairment of property, plant and equipment			1,600
Assets Held for Sale | Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant, and equipment	2,547		2,559
Assets Held for Sale | Buildings and leasehold and land improvements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Property, plant, and equipment	$ 3,803		$ 3,870

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	3 Months Ended
	Apr. 02, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 1,991,687	$ 1,979,008
Less:  Accumulated depreciation and amortization	970,489	956,286
Property, plant and equipment, net	1,021,198	1,022,722
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	81,981	81,981
Buildings
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, at cost	$ 259,748	240,173
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	$ 405,341	392,998
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	$ 449,350	445,218
Transportation equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 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	$ 94,923	96,606
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	$ 456,953	465,881
Cold drink dispensing equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 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	$ 164,792	155,077
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	$ 47,139	46,569
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	$ 31,460	$ 54,505

Leases - Summary of Weighted Av

Leases - Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rate for Population of Leases (Detail)	Apr. 02, 2021	Dec. 31, 2020
Operating leases
Weighted average remaining lease term	9 years 3 months 18 days	9 years 4 months 24 days
Weighted average discount rate	4.00%	4.00%
Financing leases
Weighted average remaining lease term	13 years 2 months 12 days	13 years 4 months 24 days
Weighted average discount rate	3.20%	3.20%

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
	Apr. 02, 2021	Mar. 29, 2020
Lessee Disclosure [Line Items]
Operating lease costs	$ 6,254	$ 6,054
Short-term and variable leases	3,877	3,490
Depreciation expense from financing leases	1,414	925
Total lease cost	12,129	10,735
Interest expense, net
Lessee Disclosure [Line Items]
Interest expense on financing lease obligations	$ 584	$ 266

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments For Noncancelable Operating And Financing Leases (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Operating Leases
Remainder of 2021	$ 17,926
2021		$ 24,056
2022	20,970	20,970
2023	18,125	18,125
2024	15,330	15,330
2025	13,747	13,747
Thereafter	77,353	77,353
Total minimum lease payments including interest	163,451	169,581
Less:  Amounts representing interest	28,576	29,892
Present value of minimum lease principal payments	134,875	139,689
Less: Current portion of lease liabilities - operating leases	19,388	19,766
Noncurrent portion of lease liabilities - operating leases	115,487	119,923
Financing Leases
Remainder of 2021	5,317
2021		7,079
2022	7,145	7,145
2023	7,201	7,201
2024	7,396	7,396
2025	7,593	7,593
Thereafter	55,826	55,827
Total minimum lease payments including interest	90,478	92,241
Less:  Amounts representing interest	15,813	16,397
Present value of minimum lease principal payments	74,665	75,844
Less: Current portion of lease liabilities - financing leases	5,909	5,860
Noncurrent portion of lease liabilities - financing leases	$ 68,756	$ 69,984

Leases - Summary of Balances _2

Leases - Summary of Balances Related to Leases within Condensed Consolidated Statement of Cash Flow (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Cash flows from operating activities impact:
Operating leases	$ 6,129	$ 4,195
Interest payments on financing lease obligations	316	266
Total cash flows from operating activities impact	6,445	4,461
Cash flows from financing activities impact:
Principal payments on financing lease obligations	1,447	1,485
Total cash flows from financing activities impact	$ 1,447	$ 1,485

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	Apr. 02, 2021USD ($)lease_commitment
Lessee, Lease, Description [Line Items]
Lease commitments not yet commenced, additional lease liability | $	$ 4.7
Equipment
Lessee, Lease, Description [Line Items]
Lease commitments not yet commenced	1
Lease commitments not yet commenced, lease term	10 years
Vehicles
Lessee, Lease, Description [Line Items]
Lease commitments not yet commenced	2
Lease commitments not yet commenced, lease term	3 years

Distribution Agreements, Net -

Distribution Agreements, Net - Additional Information (Details) - Distribution agreements, net	3 Months Ended
	Apr. 02, 2021
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	Apr. 02, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Distribution agreements at cost	$ 952,547	$ 952,533
Less: Accumulated amortization	104,902	98,780
Intangible assets, net	$ 847,645	$ 853,753

Customer Lists, Net - Additiona

Customer Lists, Net - Additional Information (Detail) - Customer lists, net	3 Months Ended
	Apr. 02, 2021
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, Net (Detail)

Customer Lists, Net (Detail) - Customer lists, net - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Customer lists at cost	$ 25,288	$ 25,288
Less: Accumulated amortization	12,943	12,484
Intangible assets, net	$ 12,345	$ 12,804

Other Accrued Liabilities - Sum

Other Accrued Liabilities - Summary of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued insurance costs	$ 51,022	$ 48,318
Accrued marketing costs	40,054	38,539
Current portion of acquisition related contingent consideration	38,014	36,020
Employee and retiree benefit plan accruals	32,531	31,653
Current portion of deferred payroll taxes under CARES Act	18,706	18,706
Accrued taxes (other than income taxes)	8,629	6,178
All other accrued expenses	30,628	25,727
Total other accrued liabilities	$ 219,584	$ 205,141

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Pre-Tax Changes in Fair Value (Detail) - Commodity derivative instruments - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ 848	$ (3,865)
Cost of sales
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	288	(1,536)
Selling, delivery and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ 560	$ (2,329)

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Fair Values and Classification in Condensed Consolidated Balance Sheets of Derivative Instruments (Detail) - Commodity derivative instruments - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Assets:
Total assets	$ 3,321	$ 2,473
Gross commodity derivative instrument assets	4,383	2,473
Gross commodity derivative instrument liabilities	1,062	0
Prepaid expenses and other current assets
Assets:
Total assets	3,321	2,417
Other accrued liabilities
Assets:
Total assets	$ 0	$ 56

Derivative Financial Instrume_5

Derivative Financial Instruments - Summary of Outstanding Commodity Derivative Instruments (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Commodity derivative instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount of outstanding commodity derivative instruments	$ 30,888	$ 23,030

Fair Values of Financial Inst_3

Fair Values of Financial Instruments - Deferred Compensation Plan, Commodity Derivative Instruments, Debt and Acquisition Related Contingent Consideration (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020	Mar. 29, 2020	Dec. 29, 2019
Commodity derivative instruments
Assets:
Commodity derivative instruments	$ 3,321	$ 2,473
Fair Value Level 3
Liabilities:
Acquisition related contingent consideration	435,746	434,694	$ 437,094	$ 446,684
Carrying Amount
Assets:
Deferred compensation plan assets	52,595	51,742
Liabilities:
Deferred compensation plan liabilities	52,595	51,742
Long-term debt	909,304	940,465
Acquisition related contingent consideration	435,746	434,694
Carrying Amount | Commodity derivative instruments
Assets:
Commodity derivative instruments	3,321	2,473
Total Fair Value
Assets:
Deferred compensation plan assets	52,595	51,742
Liabilities:
Deferred compensation plan liabilities	52,595	51,742
Long-term debt	967,350	1,015,700
Acquisition related contingent consideration	435,746	434,694
Total Fair Value | Commodity derivative instruments
Assets:
Commodity derivative instruments	3,321	2,473
Total Fair Value | Fair Value Level 1
Assets:
Deferred compensation plan assets	52,595	51,742
Liabilities:
Deferred compensation plan liabilities	52,595	51,742
Long-term debt	0	0
Acquisition related contingent consideration	0	0
Total Fair Value | Fair Value Level 1 | Commodity derivative instruments
Assets:
Commodity derivative instruments	0	0
Total Fair Value | Fair Value Level 2
Assets:
Deferred compensation plan assets	0	0
Liabilities:
Deferred compensation plan liabilities	0	0
Long-term debt	967,350	1,015,700
Acquisition related contingent consideration	0	0
Total Fair Value | Fair Value Level 2 | Commodity derivative instruments
Assets:
Commodity derivative instruments	3,321	2,473
Total Fair Value | Fair Value Level 3
Assets:
Deferred compensation plan assets	0	0
Liabilities:
Deferred compensation plan liabilities	0	0
Long-term debt	0	0
Acquisition related contingent consideration	435,746	434,694
Total Fair Value | Fair Value Level 3 | Commodity derivative instruments
Assets:
Commodity derivative instruments	$ 0	$ 0

Fair Values of Financial Inst_4

Fair Values of Financial Instruments - Additional Information (Detail) $ in Millions	3 Months Ended
	Apr. 02, 2021USD ($)	Mar. 29, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount payable annually under acquisition related contingent consideration arrangements, value, low	$ 30
Amount payable annually under acquisition related contingent consideration arrangements, value, high	$ 54
Fair Value Level 3 | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Acquisition related contingent consideration liability, measurement input	0.079	0.074
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 Acquisition Related Contingent Consideration Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Business Combination, Contingent Consideration, Liability [Roll Forward]
Payments of acquisition related contingent consideration	$ (10,046)	$ (10,452)
Increase in fair value	10,998	712
Level 3
Business Combination, Contingent Consideration, Liability [Roll Forward]
Beginning balance - Level 3 liability	434,694	446,684
Payments of acquisition related contingent consideration	(10,046)	(10,452)
Reclassification to current payables	100	150
Increase in fair value	10,998	712
Ending balance - Level 3 liability	$ 435,746	$ 437,094

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	27.30%	25.60%
Uncertain tax positions	$ 2.7		$ 2.6
Uncertain tax positions that would affect tax rate	$ 2.7		$ 2.6

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
	Apr. 02, 2021	Mar. 29, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,863	$ 1,659
Interest cost	2,453	2,760
Expected return on plan assets	(3,250)	(3,383)
Recognized net actuarial loss	1,219	1,189
Amortization of prior service cost	1	5
Net periodic pension/postretirement benefit cost	$ 2,286	$ 2,230

Pension and Postretirement Be_4

Pension and Postretirement Benefit Obligations - Additional Information (Detail) - Pension Plans	3 Months Ended
	Apr. 02, 2021USD ($)benefit_plan
Defined Benefit Plan Disclosure [Line Items]
Number of company-sponsored pension plans | benefit_plan	2
Company contribution to pension plans during the period	$ 0
Minimum
Defined Benefit Plan Disclosure [Line Items]
Benefit pension plan, expected contributions, remainder of fiscal year	8,000,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Benefit pension plan, expected contributions, remainder of fiscal year	$ 12,000,000

Pension and Postretirement Be_5

Pension and Postretirement Benefit Obligations - Components of Net Periodic Postretirement Benefit Cost (Detail) - Postretirement Benefits - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 403	$ 376
Interest cost	447	503
Recognized net actuarial loss	186	88
Net periodic pension/postretirement benefit cost	$ 1,036	$ 967

Other Liabilities - Summary of

Other Liabilities - Summary of Other Liabilities (Detail) - USD ($) $ in Thousands	Apr. 02, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Noncurrent portion of acquisition related contingent consideration	$ 397,732	$ 398,674
Accruals for executive benefit plans	133,539	144,101
Noncurrent deferred proceeds from related parties	108,590	109,361
Noncurrent portion of deferred payroll taxes under CARES Act	18,706	18,706
Other	8,318	8,438
Total other liabilities	$ 666,885	$ 679,280

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt issuance costs	$ (1,902)	$ (1,992)
Total long-term debt	$ 909,304	940,465
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	0
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	$ 186,250	217,500
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	$ (44)	(43)
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

Long-Term Debt - Summary of Deb

Long-Term Debt - Summary of Debt, Footnotes (Detail)	Apr. 02, 2021USD ($)
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

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	3 Months Ended
	Apr. 02, 2021USD ($)financialCovenant	Dec. 29, 2019USD ($)
Debt Instrument [Line Items]
Number of financial covenants | financialCovenant	2
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)	3 Months Ended		12 Months Ended
	Apr. 02, 2021USD ($)product	Mar. 29, 2020product	Dec. 31, 2020USD ($)
Loss Contingencies [Line Items]
Letters of credit totaled	$ 37,600,000		$ 37,600,000
Long-term marketing contractual arrangements	$ 155,700,000
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	7,200,000	7,700,000
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
	Apr. 02, 2021	Mar. 29, 2020
Loss Contingencies [Line Items]
Total purchases from manufacturing cooperatives	$ 68,797	$ 72,862
Southeastern
Loss Contingencies [Line Items]
Total purchases from manufacturing cooperatives	27,544	31,028
SAC
Loss Contingencies [Line Items]
Total purchases from manufacturing cooperatives	$ 41,253	$ 41,834

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Accumulated Other Comprehensive (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 512,990	$ 451,116
Ending Balance	565,342	464,323
Reclassification of stranded tax effects
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(19,720)	(19,720)
Other comprehensive income (loss), net of tax	0	0
Tax Effect	0	0
Ending Balance	(19,720)	(19,720)
Total AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(119,053)	(115,002)
Other comprehensive income (loss), net of tax	1,772	(66)
Tax Effect	(440)	16
Ending Balance	(117,721)	(115,052)
Interest rate swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(556)	(270)
Other comprehensive income (loss), net of tax	415	(1,347)
Tax Effect	(103)	332
Ending Balance	(244)	(1,285)
Foreign currency translation adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	14	(16)
Other comprehensive income (loss), net of tax	(49)	(1)
Tax Effect	12	0
Ending Balance	(23)	(17)
Pension Plan | Actuarial loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(93,847)	(93,174)
Other comprehensive income (loss), net of tax	1,219	1,189
Tax Effect	(303)	(293)
Ending Balance	(92,931)	(92,278)
Pension Plan | Prior service credits (costs)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	8	(7)
Other comprehensive income (loss), net of tax	1	5
Tax Effect	0	(1)
Ending Balance	9	(3)
Postretirement Benefits | Actuarial loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(4,328)	(1,191)
Other comprehensive income (loss), net of tax	186	88
Tax Effect	(46)	(22)
Ending Balance	(4,188)	(1,125)
Postretirement Benefits | Prior service credits (costs)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	(624)	(624)
Other comprehensive income (loss), net of tax	0	0
Tax Effect	0	0
Ending Balance	$ (624)	$ (624)

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
	Apr. 02, 2021	Mar. 29, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	$ 821,154	$ 767,726
Selling, delivery and administrative expenses	354,519	372,474
Subtotal pre-tax	(73,383)	(20,962)
Income tax expense (benefit)	20,020	5,361
Total after tax effect	(53,363)	(14,662)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	451	382
Selling, delivery and administrative expenses	1,321	(448)
Subtotal pre-tax	1,772	(66)
Income tax expense (benefit)	440	(16)
Total after tax effect	1,332	(50)
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
Selling, delivery and administrative expenses	415	(1,347)
Subtotal pre-tax	415	(1,347)
Income tax expense (benefit)	103	(332)
Total after tax effect	312	(1,015)
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
Selling, delivery and administrative expenses	(49)	(1)
Subtotal pre-tax	(49)	(1)
Income tax expense (benefit)	(12)	0
Total after tax effect	(37)	(1)
Reclassification out of Accumulated Other Comprehensive Income | Pension Plan | Defined Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	348	334
Selling, delivery and administrative expenses	872	860
Subtotal pre-tax	1,220	1,194
Income tax expense (benefit)	303	294
Total after tax effect	917	900
Reclassification out of Accumulated Other Comprehensive Income | Postretirement Benefits | Defined Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales	103	48
Selling, delivery and administrative expenses	83	40
Subtotal pre-tax	186	88
Income tax expense (benefit)	46	22
Total after tax effect	$ 140	$ 66

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	3 Months Ended
	Apr. 02, 2021	Mar. 29, 2020
Supplemental Cash Flow Elements [Abstract]
Accounts receivable, trade	$ (34,577)	$ (37,316)
Allowance for doubtful accounts	(972)	2,380
Accounts receivable from The Coca‑Cola Company	(13,529)	5,751
Accounts receivable, other	4,475	939
Inventories	(31,606)	(2,698)
Prepaid expenses and other current assets	(2,446)	(4,131)
Accounts payable, trade	13,192	29,044
Accounts payable to The Coca‑Cola Company	35,114	28,067
Other accrued liabilities	14,443	(27,263)
Accrued compensation	(25,072)	(39,347)
Accrued interest payable	2,316	2,264
Change in current assets less current liabilities	$ (38,662)	$ (42,310)