Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | ||
Sep. 29, 2013 | Oct. 31, 2013 | Oct. 31, 2013 | |
Common Stock [Member] | Class B Common Stock [Member] | ||
Document Information [Line Items] | ' | ' | ' |
Document Type | '10-Q | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 29-Sep-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'Q3 | ' | ' |
Entity Registrant Name | 'COCA COLA BOTTLING CO CONSOLIDATED /DE/ | ' | ' |
Entity Central Index Key | '0000317540 | ' | ' |
Current Fiscal Year End Date | '--12-29 | ' | ' |
Entity Filer Category | 'Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 7,141,447 | 2,108,962 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Net sales | $434,464 | $419,855 | $1,246,994 | $1,227,733 |
Cost of sales | 258,352 | 248,927 | 746,868 | 727,798 |
Gross margin | 176,112 | 170,928 | 500,126 | 499,935 |
Selling, delivery and administrative expenses | 145,912 | 143,490 | 427,539 | 425,315 |
Income from operations | 30,200 | 27,438 | 72,587 | 74,620 |
Interest expense, net | 7,361 | 9,033 | 22,149 | 27,183 |
Income before income taxes | 22,839 | 18,405 | 50,438 | 47,437 |
Income tax expense | 4,756 | 7,191 | 14,550 | 19,228 |
Net income | 18,083 | 11,214 | 35,888 | 28,209 |
Less: Net income attributable to noncontrolling interest | 1,914 | 1,135 | 3,628 | 2,818 |
Net income attributable to Coca-Cola Bottling Co. Consolidated | $16,169 | $10,079 | $32,260 | $25,391 |
Common Stock [Member] | ' | ' | ' | ' |
Basic net income per share based on net income attributable to Coca-Cola Bottling Co. Consolidated: | ' | ' | ' | ' |
Common Stock | $1.75 | $1.09 | $3.49 | $2.75 |
Weighted average number of Common Stock shares outstanding | 7,141 | 7,141 | 7,141 | 7,141 |
Diluted net income per share based on net income attributable to Coca-Cola Bottling Co. Consolidated: | ' | ' | ' | ' |
Common Stock | $1.74 | $1.09 | $3.47 | $2.74 |
Weighted average number of Common Stock shares outstanding - assuming dilution | 9,290 | 9,270 | 9,285 | 9,265 |
Cash dividends per share: | ' | ' | ' | ' |
Cash dividend per share | $0.25 | $0.25 | $0.75 | $0.75 |
Class B Common Stock [Member] | ' | ' | ' | ' |
Basic net income per share based on net income attributable to Coca-Cola Bottling Co. Consolidated: | ' | ' | ' | ' |
Common Stock | $1.75 | $1.09 | $3.49 | $2.75 |
Weighted average number of Common Stock shares outstanding | 2,109 | 2,089 | 2,104 | 2,084 |
Diluted net income per share based on net income attributable to Coca-Cola Bottling Co. Consolidated: | ' | ' | ' | ' |
Common Stock | $1.74 | $1.08 | $3.46 | $2.73 |
Weighted average number of Common Stock shares outstanding - assuming dilution | 2,149 | 2,129 | 2,144 | 2,124 |
Cash dividends per share: | ' | ' | ' | ' |
Cash dividend per share | $0.25 | $0.25 | $0.75 | $0.75 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $18,083 | $11,214 | $35,888 | $28,209 |
Other comprehensive income, net of tax: | ' | ' | ' | ' |
Foreign currency translation adjustment | -1 | 0 | 0 | 0 |
Defined benefit plans reclassification included in pension costs: | ' | ' | ' | ' |
Actuarial loss | 514 | 421 | 1,533 | 1,262 |
Prior service costs | 2 | 3 | 7 | 9 |
Postretirement benefits reclassification included in benefits costs: | ' | ' | ' | ' |
Actuarial loss | 430 | 372 | 1,281 | 1,115 |
Prior service costs | -231 | -231 | -691 | -690 |
Other comprehensive income, net of tax | 714 | 565 | 2,130 | 1,696 |
Comprehensive income | 18,797 | 11,779 | 38,018 | 29,905 |
Less: Comprehensive income attributable to noncontrolling interest | 1,914 | 1,135 | 3,628 | 2,818 |
Comprehensive income attributable to Coca-Cola Bottling Co. Consolidated | $16,883 | $10,644 | $34,390 | $27,087 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Current Assets: | ' | ' | ' |
Cash and cash equivalents | $25,283 | $10,399 | $112,661 |
Accounts receivable, trade, less allowance for doubtful accounts of $1,553, $1,490 and $1,533, respectively | 114,068 | 103,524 | 111,153 |
Accounts receivable from The Coca-Cola Company | 24,549 | 15,521 | 20,437 |
Accounts receivable, other | 14,526 | 12,876 | 13,583 |
Inventories | 70,255 | 65,924 | 74,492 |
Prepaid expenses and other current assets | 32,209 | 33,068 | 29,900 |
Total current assets | 280,890 | 241,312 | 362,226 |
Property, plant and equipment, net | 295,147 | 307,467 | 291,768 |
Leased property under capital leases, net | 50,212 | 54,150 | 55,601 |
Other assets | 62,621 | 53,801 | 54,573 |
Franchise rights | 520,672 | 520,672 | 520,672 |
Goodwill | 102,049 | 102,049 | 102,049 |
Other identifiable intangible assets, net | 3,764 | 4,023 | 4,127 |
Total assets | 1,315,355 | 1,283,474 | 1,391,016 |
Current Liabilities: | ' | ' | ' |
Current portion of debt | 20,000 | 20,000 | 120,000 |
Current portion of obligations under capital leases | 5,732 | 5,230 | 5,110 |
Accounts payable, trade | 46,279 | 51,651 | 45,308 |
Accounts payable to The Coca-Cola Company | 43,363 | 27,830 | 42,031 |
Other accrued liabilities | 73,858 | 75,113 | 76,900 |
Accrued compensation | 26,733 | 32,428 | 24,955 |
Accrued interest payable | 9,380 | 4,060 | 12,121 |
Total current liabilities | 225,345 | 216,312 | 326,425 |
Deferred income taxes | 142,795 | 140,965 | 145,384 |
Pension and postretirement benefit obligations | 138,288 | 140,719 | 119,767 |
Other liabilities | 123,208 | 118,303 | 116,588 |
Obligations under capital leases | 60,378 | 64,351 | 65,692 |
Long-term debt | 393,520 | 403,386 | 403,344 |
Total liabilities | 1,083,534 | 1,084,036 | 1,177,200 |
Commitments and Contingencies (Note 14) | ' | ' | ' |
Equity: | ' | ' | ' |
Capital in excess of par value | 108,959 | 107,681 | 107,600 |
Retained earnings | 195,766 | 170,439 | 170,920 |
Accumulated other comprehensive loss | -92,396 | -94,526 | -79,124 |
Total equity before treasury stock | 225,268 | 196,513 | 212,315 |
Total equity of Coca-Cola Bottling Co. Consolidated | 164,014 | 135,259 | 151,061 |
Noncontrolling interest | 67,807 | 64,179 | 62,755 |
Total equity | 231,821 | 199,438 | 213,816 |
Total liabilities and equity | 1,315,355 | 1,283,474 | 1,391,016 |
Common Stock [Member] | ' | ' | ' |
Equity: | ' | ' | ' |
Common Stock | 10,204 | 10,204 | 10,204 |
Treasury stock | 60,845 | 60,845 | 60,845 |
Total equity | 10,204 | 10,204 | 10,204 |
Class B Common Stock [Member] | ' | ' | ' |
Equity: | ' | ' | ' |
Common Stock | 2,735 | 2,715 | 2,715 |
Treasury stock | 409 | 409 | 409 |
Total equity | $2,735 | $2,715 | $2,715 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, except Share data, unless otherwise specified | |||
Allowance for doubtful accounts | $1,553 | $1,490 | $1,533 |
Common Stock [Member] | ' | ' | ' |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 30,000,000 | 30,000,000 | 30,000,000 |
Common stock, shares issued | 10,203,821 | 10,203,821 | 10,203,821 |
Treasury stock, shares | 3,062,374 | 3,062,374 | 3,062,374 |
Class B Common Stock [Member] | ' | ' | ' |
Common stock, par value | $1 | $1 | $1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 | 10,000,000 |
Common stock, shares issued | 2,737,076 | 2,716,956 | 2,716,956 |
Treasury stock, shares | 628,114 | 628,114 | 628,114 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Equity (USD $) | Total | Common Stock [Member] | Class B Common Stock [Member] | Capital in Excess of Par Value [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total Equity of CCBCC [Member] | Total Equity of CCBCC [Member] | Total Equity of CCBCC [Member] | Noncontrolling Interest [Member] |
In Thousands | Common Stock [Member] | Class B Common Stock [Member] | Common Stock [Member] | Class B Common Stock [Member] | |||||||||
Beginning Balance at Jan. 01, 2012 | $189,407 | $10,204 | $2,693 | $106,201 | $152,446 | ' | ' | ($80,820) | ($61,254) | $129,470 | ' | ' | $59,937 |
Net income | 28,209 | ' | ' | ' | 25,391 | ' | ' | ' | ' | 25,391 | ' | ' | 2,818 |
Other comprehensive income, net of tax | 1,696 | ' | ' | ' | ' | ' | ' | 1,696 | ' | 1,696 | ' | ' | ' |
Cash dividends paid ($.75 per share) | ' | -5,356 | -1,561 | ' | ' | -5,356 | -1,561 | ' | ' | ' | -5,356 | -1,561 | ' |
Issuance of shares of Class B Common Stock | 1,421 | ' | 22 | 1,399 | ' | ' | ' | ' | ' | 1,421 | ' | ' | ' |
Ending Balance at Sep. 30, 2012 | 213,816 | 10,204 | 2,715 | 107,600 | 170,920 | ' | ' | -79,124 | -61,254 | 151,061 | ' | ' | 62,755 |
Beginning Balance at Jul. 01, 2012 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 11,214 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net of tax | 565 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends paid ($.75 per share) | ' | -1,785 | -522 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Sep. 30, 2012 | 213,816 | 10,204 | 2,715 | ' | ' | ' | ' | ' | -61,254 | ' | ' | ' | ' |
Beginning Balance at Dec. 30, 2012 | 199,438 | 10,204 | 2,715 | 107,681 | 170,439 | ' | ' | -94,526 | -61,254 | 135,259 | ' | ' | 64,179 |
Net income | 35,888 | ' | ' | ' | 32,260 | ' | ' | ' | ' | 32,260 | ' | ' | 3,628 |
Other comprehensive income, net of tax | 2,130 | ' | ' | ' | ' | ' | ' | 2,130 | ' | 2,130 | ' | ' | ' |
Cash dividends paid ($.75 per share) | ' | -5,356 | -1,577 | ' | ' | -5,356 | -1,577 | ' | ' | ' | -5,356 | -1,577 | ' |
Issuance of shares of Class B Common Stock | 1,298 | ' | 20 | 1,278 | ' | ' | ' | ' | ' | 1,298 | ' | ' | ' |
Ending Balance at Sep. 29, 2013 | 231,821 | 10,204 | 2,735 | 108,959 | 195,766 | ' | ' | -92,396 | -61,254 | 164,014 | ' | ' | 67,807 |
Beginning Balance at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | 18,083 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income, net of tax | 714 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash dividends paid ($.75 per share) | ' | -1,785 | -527 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ending Balance at Sep. 29, 2013 | $231,821 | $10,204 | $2,735 | ' | ' | ' | ' | ' | ($61,254) | ' | ' | ' | ' |
Consolidated_Statements_of_Cha1
Consolidated Statements of Changes in Equity (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | |
Common Stock [Member] | ' | ' | ' | ' |
Cash dividend per share | $0.25 | $0.25 | $0.75 | $0.75 |
Class B Common Stock [Member] | ' | ' | ' | ' |
Cash dividend per share | $0.25 | $0.25 | $0.75 | $0.75 |
Class B common stock shares issued | ' | ' | 20,120 | 22,320 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Cash Flows from Operating Activities | ' | ' |
Net income | $35,888 | $28,209 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation expense | 43,655 | 46,075 |
Amortization of intangibles | 250 | 312 |
Deferred income taxes | -1,376 | 3,409 |
(Gain)/loss on sale of property, plant and equipment | -264 | 467 |
Amortization of debt costs | 1,453 | 1,726 |
Amortization of deferred gain related to terminated interest rate agreements | -411 | -923 |
Stock compensation expense | 1,901 | 2,043 |
(Increase) decrease in current assets less current liabilities | -4,366 | 4,099 |
(Increase) decrease in other noncurrent assets | -6,656 | -5,461 |
Increase (decrease) in other noncurrent liabilities | 4,887 | -15,599 |
Other | 12 | -1 |
Total adjustments | 39,085 | 36,147 |
Net cash provided by operating activities | 74,973 | 64,356 |
Cash Flows from Investing Activities | ' | ' |
Additions to property, plant and equipment | -45,197 | -35,541 |
Proceeds from the sale of property, plant and equipment | 6,056 | 548 |
Change in restricted cash | 0 | 3,000 |
Net cash used in investing activities | -39,141 | -31,993 |
Cash Flows from Financing Activities | ' | ' |
Borrowings under revolving credit facility | 55,000 | 0 |
Payment on revolving credit facility | -65,000 | 0 |
Cash dividends paid | -6,933 | -6,917 |
Principal payments on capital lease obligations | -3,926 | -3,460 |
Other | -89 | -83 |
Net cash used in financing activities | -20,948 | -10,460 |
Net increase in cash | 14,884 | 21,903 |
Cash at beginning of period | 10,399 | 90,758 |
Cash at end of period | 25,283 | 112,661 |
Significant non-cash investing and financing activities: | ' | ' |
Issuance of Class B Common Stock in connection with stock award | 1,298 | 1,421 |
Capital lease obligations incurred | $455 | $209 |
Significant_Accounting_Policie
Significant Accounting Policies | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Significant Accounting Policies | ' | ||||||||||||
1. Significant Accounting Policies | |||||||||||||
The consolidated financial statements include the accounts of Coca-Cola Bottling Co. Consolidated and its majority-owned subsidiaries (the “Company”). All intercompany accounts and transactions have been eliminated. | |||||||||||||
The consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results for the interim periods presented. All such adjustments are of a normal, recurring nature. | |||||||||||||
The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for interim financial reporting and the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by GAAP. The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and 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. | |||||||||||||
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 the year ended December 30, 2012 filed with the United States Securities and Exchange Commission. | |||||||||||||
Certain prior year amounts have been reclassified to conform to current classifications. | |||||||||||||
In the third quarter of 2013 (“Q3 2013”), the Company recorded an out-of-period adjustment of $1.3 million for reimbursements received in the third quarter from brand companies for net price reductions to certain of our customers on their products that occurred in the previous two quarters. This out-of-period item did not have a material impact on the current or either of the previously reported periods. | |||||||||||||
Revision of Prior Period Financial Statements | |||||||||||||
In connection with the preparation of the consolidated financial statements for the fourth quarter of 2012, the Company identified an error in the treatment of a certain prior year deferred tax asset in the Consolidated Balance Sheets. This resulted in an understatement of net noncurrent deferred income tax liability and an overstatement of retained earnings, and therefore equity, for each of the impacted periods. This error affected the Consolidated Balance Sheets and Consolidated Statements of Changes in Stockholders’ Equity as presented in each of the quarters of 2012, 2011 and 2010, including the year-end consolidated financial statements for 2011 and 2010. This resulted in an understatement of deferred income taxes and an overstatement of retained earnings for each of the impacted periods. In accordance with accounting guidance presented in ASC 250-10 (SEC Staff Accounting Bulletin No. 99, Materiality), the Company assessed the materiality of the error and concluded that it was not material to any of the Company’s previously issued financial statements taken as a whole. The Company has revised previously issued financial statements to correct the effect of this error. This revision did not affect the Company’s Consolidated Statements of Operations or Consolidated Statements of Cash Flows for any of these periods. | |||||||||||||
First Nine Months Ended September 30, 2012 | |||||||||||||
In Thousands | As | Adjustment | As | ||||||||||
Previously | Revised | ||||||||||||
Reported | |||||||||||||
Deferred income taxes | $ | 143,553 | $ | 1,831 | $ | 145,384 | |||||||
Total liabilities | 1,175,369 | 1,831 | 1,177,200 | ||||||||||
Retained earnings | 172,751 | (1,831 | ) | 170,920 | |||||||||
Total equity of Coca-Cola Bottling Co. Consolidated | 152,892 | (1,831 | ) | 151,061 | |||||||||
Total equity | 215,647 | (1,831 | ) | 213,816 |
Seasonality_of_Business
Seasonality of Business | 9 Months Ended |
Sep. 29, 2013 | |
Text Block [Abstract] | ' |
Seasonality of Business | ' |
2. Seasonality of Business | |
Historically, operating results for the third quarter of the fiscal year have not been representative of results for the entire fiscal year. Business seasonality results primarily from higher unit sales of the Company’s products in the second and third quarters versus the first and fourth quarters of the fiscal year. Fixed costs, such as depreciation expense, are not significantly impacted by business seasonality. |
Piedmont_CocaCola_Bottling_Par
Piedmont Coca-Cola Bottling Partnership | 9 Months Ended |
Sep. 29, 2013 | |
Noncontrolling Interest [Abstract] | ' |
Piedmont Coca-Cola Bottling Partnership | ' |
3. Piedmont Coca-Cola Bottling Partnership | |
On July 2, 1993, the Company and The Coca-Cola Company formed Piedmont Coca-Cola Bottling Partnership (“Piedmont”) to distribute and market nonalcoholic beverages primarily in portions of North Carolina and South Carolina. The Company provides a portion of the nonalcoholic beverage products to Piedmont at cost and receives a fee for managing the operations of Piedmont pursuant to a management agreement. These intercompany transactions are eliminated in the consolidated financial statements. | |
Noncontrolling interest as of September 29, 2013, December 30, 2012 and September 30, 2012 represents the portion of Piedmont owned by The Coca-Cola Company. The Coca-Cola Company’s interest in Piedmont was 22.7% for all periods presented. |
Inventories
Inventories | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Inventory Disclosure [Abstract] | ' | ||||||||||||
Inventories | ' | ||||||||||||
4. Inventories | |||||||||||||
Inventories were summarized as follows: | |||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Finished products | $ | 42,695 | $ | 36,445 | $ | 43,809 | |||||||
Manufacturing materials | 8,594 | 11,019 | 10,014 | ||||||||||
Plastic shells, plastic pallets and other inventories | 18,966 | 18,460 | 20,669 | ||||||||||
Total inventories | $ | 70,255 | $ | 65,924 | $ | 74,492 | |||||||
Property_Plant_and_Equipment
Property, Plant and Equipment | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||||||
Property, Plant and Equipment | ' | ||||||||||||||||
5. Property, Plant and Equipment | |||||||||||||||||
The principal categories and estimated useful lives of property, plant and equipment were as follows: | |||||||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | Estimated | |||||||||||||
2013 | 2012 | 2012 | Useful Lives | ||||||||||||||
Land | $ | 12,307 | $ | 12,442 | $ | 12,443 | |||||||||||
Buildings | 113,032 | 118,556 | 118,096 | 8-50 years | |||||||||||||
Machinery and equipment | 143,518 | 140,963 | 134,808 | 5-20 years | |||||||||||||
Transportation equipment | 159,012 | 163,586 | 157,006 | 4-20 years | |||||||||||||
Furniture and fixtures | 42,403 | 41,580 | 40,126 | 3-10 years | |||||||||||||
Cold drink dispensing equipment | 319,767 | 314,863 | 312,280 | 5-17 years | |||||||||||||
Leasehold and land improvements | 72,632 | 71,956 | 77,425 | 5-20 years | |||||||||||||
Software for internal use | 80,310 | 74,907 | 72,858 | 3-10 years | |||||||||||||
Construction in progress | 3,266 | 8,264 | 3,674 | ||||||||||||||
Total property, plant and equipment, at cost | 946,247 | 947,117 | 928,716 | ||||||||||||||
Less: Accumulated depreciation and amortization | 651,100 | 639,650 | 636,948 | ||||||||||||||
Property, plant and equipment, net | $ | 295,147 | $ | 307,467 | $ | 291,768 | |||||||||||
Depreciation and amortization expense, which includes amortization expense for leased property under capital leases, was $14.8 million and $15.2 million in Q3 2013 and the third quarter of 2012 (“Q3 2012”), respectively. Depreciation and amortization expense, which includes amortization expense for leased property under capital leases, was $43.7 million and $46.1 million in the first nine months of 2013 (“YTD 2013”) and the first nine months of 2012 (“YTD 2012”), respectively. | |||||||||||||||||
The Company recognized a $1.2 million gain during the first quarter of 2013 (“Q1 2013”) on the sale of a distribution facility that was no longer in use. The gain on the sale of this property, plant and equipment was recorded in selling, delivery and administrative (S,D&A) expenses. | |||||||||||||||||
The Company changed the useful lives of certain cold drink dispensing equipment in Q1 2013 to reflect the estimated remaining useful lives. The change in useful lives reduced depreciation expense in Q3 2013 and YTD 2013 by $0.4 million ($0.03 per basic and diluted Common Stock; $0.03 per basic and diluted Class B Common Stock) and $1.3 million ($0.09 per basic Common Stock and $0.08 per diluted Common Stock; $0.09 per basic Class B Common Stock and $0.08 per diluted Class B Common Stock), respectively. |
Leased_Property_Under_Capital_
Leased Property Under Capital Leases | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Leases [Abstract] | ' | ||||||||||||||||
Leased Property Under Capital Leases | ' | ||||||||||||||||
6. Leased Property Under Capital Leases | |||||||||||||||||
Leased property under capital leases was summarized as follows: | |||||||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | Estimated | |||||||||||||
2013 | 2012 | 2012 | Useful Lives | ||||||||||||||
Leased property under capital leases | $ | 94,629 | $ | 94,180 | $ | 94,180 | 3-20 years | ||||||||||
Less: Accumulated amortization | 44,417 | 40,030 | 38,579 | ||||||||||||||
Leased property under capital leases, net | $ | 50,212 | $ | 54,150 | $ | 55,601 | |||||||||||
As of September 29, 2013, real estate represented $49.6 million of the leased property under capital leases, net and $33.4 million of this real estate is leased from related parties as described in Note 19 to the consolidated financial statements. | |||||||||||||||||
The Company’s outstanding obligations for capital leases were $66.1 million, $69.6 million and $70.8 million as of September 29, 2013, December 30, 2012 and September 30, 2012, respectively. |
Franchise_Rights_and_Goodwill
Franchise Rights and Goodwill | 9 Months Ended |
Sep. 29, 2013 | |
Text Block [Abstract] | ' |
Franchise Rights and Goodwill | ' |
7. Franchise Rights and Goodwill | |
There were no changes in the carrying amounts of franchise rights and goodwill in the periods presented. The Company performs its annual impairment test of franchise rights and goodwill as of the first day of the fourth quarter. During YTD 2013, the Company did not experience any triggering events or changes in circumstances that indicated the carrying amounts of the Company’s franchise rights or goodwill exceeded fair values. As such, the Company has not recognized any impairments of franchise rights or goodwill. |
Other_Identifiable_Intangible_
Other Identifiable Intangible Assets | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Other Identifiable Intangible Assets | ' | ||||||||||||||||
8. Other Identifiable Intangible Assets | |||||||||||||||||
Other identifiable intangible assets were summarized as follows: | |||||||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | Estimated | |||||||||||||
2013 | 2012 | 2012 | Useful Lives | ||||||||||||||
Other identifiable intangible assets | $ | 8,547 | $ | 8,557 | $ | 8,557 | 20 years | ||||||||||
Less: Accumulated amortization | 4,783 | 4,534 | 4,430 | ||||||||||||||
Other identifiable intangible assets, net | $ | 3,764 | $ | 4,023 | $ | 4,127 | |||||||||||
Other identifiable intangible assets primarily represent customer relationships and distribution rights and are amortized on a straight line basis. |
Other_Accrued_Liabilities
Other Accrued Liabilities | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Payables And Accruals [Abstract] | ' | ||||||||||||
Other Accrued Liabilities | ' | ||||||||||||
9. Other Accrued Liabilities | |||||||||||||
Other accrued liabilities were summarized as follows: | |||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Accrued marketing costs | $ | 12,463 | $ | 12,506 | $ | 12,918 | |||||||
Accrued insurance costs | 21,571 | 21,458 | 21,629 | ||||||||||
Accrued taxes (other than income taxes) | 4,192 | 1,910 | 1,827 | ||||||||||
Accrued income taxes | 0 | 0 | 5,500 | ||||||||||
Employee benefit plan accruals | 16,754 | 16,988 | 17,294 | ||||||||||
Checks and transfers yet to be presented for payment from zero balance cash accounts | 9,999 | 11,962 | 9,491 | ||||||||||
All other accrued liabilities | 8,879 | 10,289 | 8,241 | ||||||||||
Total other accrued liabilities | $ | 73,858 | $ | 75,113 | $ | 76,900 | |||||||
Debt
Debt | 9 Months Ended | ||||||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Debt | ' | ||||||||||||||||||||||||
10. Debt | |||||||||||||||||||||||||
Debt was summarized as follows: | |||||||||||||||||||||||||
In Thousands | Maturity | Interest | Interest | Sept. 29, | Dec. 30, | Sept. 30, | |||||||||||||||||||
Rate | Paid | 2013 | 2012 | 2012 | |||||||||||||||||||||
Revolving credit facility | 2016 | Variable | Varies | $ | 20,000 | $ | 30,000 | $ | 0 | ||||||||||||||||
Line of credit | 2013 | Variable | Varies | 20,000 | 20,000 | 0 | |||||||||||||||||||
Senior Notes | 2012 | 5 | % | Semi-annually | 0 | 0 | 150,000 | ||||||||||||||||||
Senior Notes | 2015 | 5.3 | % | Semi-annually | 100,000 | 100,000 | 100,000 | ||||||||||||||||||
Senior Notes | 2016 | 5 | % | Semi-annually | 164,757 | 164,757 | 164,757 | ||||||||||||||||||
Senior Notes | 2019 | 7 | % | Semi-annually | 110,000 | 110,000 | 110,000 | ||||||||||||||||||
Unamortized discount on Senior Notes | 2019 | (1,237 | ) | (1,371 | ) | (1,413 | ) | ||||||||||||||||||
413,520 | 423,386 | 523,344 | |||||||||||||||||||||||
Less: Current portion of debt | 20,000 | 20,000 | 120,000 | ||||||||||||||||||||||
Long-term debt | $ | 393,520 | $ | 403,386 | $ | 403,344 | |||||||||||||||||||
On September 21, 2011, the Company entered into a $200 million five-year unsecured revolving credit agreement (“$200 million facility”) replacing the Company’s previous $200 million five-year unsecured revolving credit facility. The $200 million facility has a scheduled maturity date of September 21, 2016 and up to $25 million is available for the issuance of letters of credit. Borrowings under the agreement bear interest at a floating base rate or a floating Eurodollar rate plus an interest rate spread, dependent on the Company’s credit rating at the time of borrowing. The Company must pay an annual facility fee of .175% of the lenders’ aggregate commitments under the facility. The $200 million facility contains two financial covenants: a cash flow/fixed charges ratio (“fixed charges coverage ratio”) and a funded indebtedness/cash flow ratio (“operating cash flow ratio”), each as defined in the credit agreement. The fixed charges coverage ratio requires the Company to maintain a consolidated cash flow to fixed charges ratio of 1.5 to 1.0 or higher. The operating cash flow ratio requires the Company to maintain a debt to operating cash flow ratio of 6.0 to 1.0 or lower. The Company is currently in compliance with these covenants. These covenants do not currently, and the Company does not anticipate they will, restrict its liquidity or capital resources. | |||||||||||||||||||||||||
On September 4, 2013, the Company entered into an amendment to its $200 million facility. The amendment clarified that the non-cash charge to be incurred by the Company in the fourth quarter of 2013 (“Q4 2013”) as a result of the Company’s limited-time offer of a lump sum distribution of pension benefits to certain pension plan participants will be excluded from the calculation of the financial covenants described above to the extent that the non-cash charge is recognized on or before December 31, 2013 and does not exceed $12.0 million. See Note 18 to the consolidated financial statements for additional information on the limited-time pension distribution. | |||||||||||||||||||||||||
On September 29, 2013, the Company had $20.0 million of outstanding borrowings on the $200 million facility and had $180.0 million available to meet its cash requirements. On December 30, 2012, the Company had $30.0 million of outstanding borrowings on the $200 million facility. On September 30, 2012, the Company had no outstanding borrowings on the $200 million facility. | |||||||||||||||||||||||||
On February 10, 2010, the Company entered into an agreement for an uncommitted line of credit. Under this agreement, which is still in place, the Company may borrow up to a total of $20 million for periods of 7 days, 30 days, 60 days or 90 days at the discretion of the participating bank. On both September 29, 2013 and December 30, 2012, the Company had $20.0 million outstanding under the uncommitted line of credit at a weighted average interest rate of 0.93% and 0.94%, respectively. On September 30, 2012, the Company had no outstanding borrowings under the uncommitted line of credit. | |||||||||||||||||||||||||
The Company used a combination of available cash on hand, borrowings on the uncommitted line of credit and borrowings under the $200 million facility to repay $150 million of the Company’s senior notes that matured in November 2012. | |||||||||||||||||||||||||
As of September 29, 2013, December 30, 2012 and September 30, 2012, the Company had a weighted average interest rate of 6.1%, 5.9% and 6.1%, respectively, for its outstanding debt and capital lease obligations. The Company’s overall weighted average interest rate on its debt and capital lease obligations was 5.8% for YTD 2013 compared to 6.1% for YTD 2012. As of September 29, 2013, $40.0 million of the Company’s debt and capital lease obligations of $479.6 million were subject to changes in short-term interest rates. | |||||||||||||||||||||||||
The Company’s public debt is not subject to financial covenants but does limit the incurrence of certain liens and encumbrances as well as the incurrence of indebtedness by the Company’s subsidiaries in excess of certain amounts. | |||||||||||||||||||||||||
All of the outstanding long-term debt has been issued by the Company with none being issued by any of the Company’s subsidiaries. There are no guarantees of the Company’s debt. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | ||||||||||||||
Sep. 29, 2013 | |||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||
11. Derivative Financial Instruments | |||||||||||||||
Interest | |||||||||||||||
The Company uses derivatives from time to time to partially manage the Company’s exposure to changes in interest rates on outstanding debt instruments. | |||||||||||||||
The Company had no interest rate derivative contracts outstanding at September 29, 2013, December 30, 2012 and September 30, 2012. | |||||||||||||||
Commodities | |||||||||||||||
The Company is subject to the risk of increased costs arising from adverse changes in certain commodity prices. In the normal course of business, the Company manages these risks through a variety of strategies, including the use of derivative instruments. The Company does not use derivative instruments for trading or speculative purposes. All derivative instruments are recorded at fair value as either assets or liabilities in the Company’s consolidated balance sheets. These derivative instruments are not designated as hedging instruments under GAAP and are used as “economic hedges” to manage commodity price risk. Derivative instruments are marked to market on a monthly basis and recognized in earnings consistent with the expense classification of the underlying hedged item. Settlements of derivative agreements are included in cash flows from operating activities on the Company’s consolidated statements of cash flows. | |||||||||||||||
The Company uses several different financial institutions for commodity derivative instruments to minimize the concentration of credit risk. While the Company is exposed to credit loss in the event of nonperformance by these counterparties, the Company does not anticipate nonperformance by these parties. | |||||||||||||||
The Company periodically uses derivative instruments to hedge part or all of its requirements for diesel fuel and aluminum. In Q3 2012, the Company entered into agreements to hedge a portion of the Company’s 2013 aluminum purchases. | |||||||||||||||
The Company has master agreements with the counterparties to its derivative financial agreements that provide for net settlement of derivative transactions. The Company did not have any offsetting derivative transactions with its counterparties on December 30, 2012 and September 30, 2012. Accordingly, the gross amounts of derivative assets are recognized in prepaid expenses and other current assets in the consolidated balance sheet at December 30, 2012 and September 30, 2012. The Company did not have any outstanding derivative transactions at September 29, 2013. | |||||||||||||||
The following summarizes Q3 2013 and Q3 2012 pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification, either as cost of sales or S,D&A expenses, of such changes in the consolidated statements of operations. | |||||||||||||||
Third Quarter | |||||||||||||||
In Thousands | Classification of Gain (Loss) | 2013 | 2012 | ||||||||||||
Commodity hedges | Cost of sales | $ | 0 | $ | 1,037 | ||||||||||
Total | $ | 0 | $ | 1,037 | |||||||||||
The following summarizes YTD 2013 and YTD 2012 pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification, either as cost of sales or S,D&A expenses, of such changes in the consolidated statements of operations. | |||||||||||||||
First Nine Months | |||||||||||||||
In Thousands | Classification of Gain (Loss) | 2013 | 2012 | ||||||||||||
Commodity hedges | Cost of sales | $ | (500 | ) | $ | 1,037 | |||||||||
Total | $ | (500 | ) | $ | 1,037 | ||||||||||
The following table summarizes the fair values and classification in the consolidated balance sheets of derivative instruments held by the Company: | |||||||||||||||
In Thousands | Balance Sheet Classification | Sept. 29, | Dec. 30, | Sept. 30, | |||||||||||
2013 | 2012 | 2012 | |||||||||||||
Commodity hedges at fair market value | Prepaid expenses and other current assets | $ | 0 | $ | 500 | $ | 1,037 | ||||||||
Unamortized cost of commodity hedging agreements | Prepaid expenses and other current assets | 0 | 562 | 562 | |||||||||||
Total | $ | 0 | $ | 1,062 | $ | 1,599 | |||||||||
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value of Financial Instruments | ' | ||||||||||||||||||||||||
12. Fair Value of Financial Instruments | |||||||||||||||||||||||||
The following methods and assumptions were used by the Company in estimating the fair values of its financial instruments: | |||||||||||||||||||||||||
Cash and Cash Equivalents, Accounts Receivable and Accounts Payable | |||||||||||||||||||||||||
The fair values of cash and cash equivalents, accounts receivable and accounts payable approximate carrying values due to the short maturity of these items. | |||||||||||||||||||||||||
Public Debt Securities | |||||||||||||||||||||||||
The fair values of the Company's public debt securities are based on estimated current market prices. | |||||||||||||||||||||||||
Non-Public Variable Rate Debt | |||||||||||||||||||||||||
The carrying amounts of the Company's variable rate borrowings approximate their fair values due to variable interest rates with short reset periods. | |||||||||||||||||||||||||
Deferred Compensation Plan Assets/Liabilities | |||||||||||||||||||||||||
The fair values of deferred compensation plan assets and liabilities, which are held in mutual funds, are based upon the quoted market value of the securities held within the mutual funds. | |||||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||
The fair values for the Company's commodity hedging agreements are based on current settlement values at each balance sheet date. The fair values of the commodity hedging agreements at each balance sheet date represent the estimated amounts the Company would have received or paid upon termination of these agreements. Credit risk related to the derivative financial instruments is managed by requiring high standards for its counterparties and periodic settlements. The Company considers nonperformance risk in determining the fair value of derivative financial instruments. | |||||||||||||||||||||||||
The carrying amounts and fair values of the Company's debt, deferred compensation plan assets and liabilities, and derivative financial instruments were as follows: | |||||||||||||||||||||||||
Sept. 29, 2013 | Dec. 30, 2012 | Sept. 30, 2012 | |||||||||||||||||||||||
In Thousands | Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | ||||||||||||||||||||
Public debt securities | $ | (373,520 | ) | $ | (411,197 | ) | $ | (373,386 | ) | $ | (426,050 | ) | $ | (523,344 | ) | $ | (577,775 | ) | |||||||
Deferred compensation plan assets | 15,875 | 15,875 | 13,011 | 13,011 | 12,854 | 12,854 | |||||||||||||||||||
Deferred compensation plan liabilities | (15,875 | ) | (15,875 | ) | (13,011 | ) | (13,011 | ) | (12,854 | ) | (12,854 | ) | |||||||||||||
Commodity hedging agreements | 0 | 0 | 500 | 500 | 1,037 | 1,037 | |||||||||||||||||||
Non-public variable rate debt | (40,000 | ) | (40,000 | ) | (50,000 | ) | (50,000 | ) | 0 | 0 | |||||||||||||||
GAAP requires that assets and liabilities carried at fair value 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 fair value estimates of the Company’s debt are classified as Level 2. Public debt securities are valued using quoted market prices of the debt or debt with similar characteristics. | |||||||||||||||||||||||||
The following table summarizes, by assets and liabilities, the valuation of the Company’s deferred compensation plan and commodity hedging agreements: | |||||||||||||||||||||||||
Sept. 29, 2013 | Dec. 30, 2012 | Sept. 30, 2012 | |||||||||||||||||||||||
In Thousands | Level 1 | Level 2 | Level 1 | Level 2 | Level 1 | Level 2 | |||||||||||||||||||
Assets | |||||||||||||||||||||||||
Deferred compensation plan assets | $ | 15,875 | $ | 13,011 | $ | 12,854 | |||||||||||||||||||
Commodity hedging agreements | $ | 0 | $ | 500 | $ | 1,037 | |||||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Deferred compensation plan liabilities | 15,875 | 13,011 | 12,854 | ||||||||||||||||||||||
The Company maintains a non-qualified deferred compensation plan for certain executives and other highly compensated employees. The investment assets are held in mutual funds. The fair value of the mutual funds is based on the quoted market value of the securities held within the funds (Level 1). The related deferred compensation liability represents the fair value of the investment assets. | |||||||||||||||||||||||||
The fair values of the Company’s commodity hedging agreements are based upon rates from public commodity exchanges that are observable and quoted periodically over the full term of the agreement and are considered Level 2 items. | |||||||||||||||||||||||||
The Company does not have Level 3 assets or liabilities. Also, there were no transfers of assets or liabilities between Level 1 and Level 2 for YTD 2013 and YTD 2012. |
Other_Liabilities
Other Liabilities | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Payables And Accruals [Abstract] | ' | ||||||||||||
Other Liabilities | ' | ||||||||||||
13. Other Liabilities | |||||||||||||
Other liabilities were summarized as follows: | |||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Accruals for executive benefit plans | $ | 106,370 | $ | 101,220 | $ | 99,568 | |||||||
Other | 16,838 | 17,083 | 17,020 | ||||||||||
Total other liabilities | $ | 123,208 | $ | 118,303 | $ | 116,588 | |||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 29, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
14. Commitments and Contingencies | |
The Company is a member of South Atlantic Canners, Inc. (“SAC”), a manufacturing cooperative from which it is obligated to purchase 17.5 million cases of finished product on an annual basis through May 2014. The Company is also a member of Southeastern Container (“Southeastern”), a plastic bottle manufacturing cooperative from which it is obligated to purchase at least 80% of its requirements of plastic bottles for certain designated territories. See Note 19 to the consolidated financial statements for additional information concerning SAC and Southeastern. | |
The Company guarantees a portion of SAC’s and Southeastern’s debt. The amounts guaranteed were $33.5 million, $35.9 million and $36.6 million as of September 29, 2013, December 30, 2012 and September 30, 2012, respectively. The Company holds no assets as collateral against these guarantees, the fair value of which is immaterial. The guarantees relate to the debt of SAC and Southeastern, which resulted primarily from the purchase of production equipment and facilities. These guarantees expire at various dates through 2023. The members of both cooperatives consist solely of Coca-Cola bottlers. The Company does not anticipate either of these cooperatives will fail to fulfill its commitments. The Company further believes each of these cooperatives 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 guarantees. In the event either of these cooperatives fails to fulfill its commitments under the related debt, the Company would be responsible for payments to the lenders up to the level of the guarantees. If these cooperatives had borrowed up to their aggregate borrowing capacity, the Company’s maximum exposure under these guarantees on September 29, 2013 would have been $23.9 million for SAC and $25.3 million for Southeastern and the Company’s maximum total exposure, including its equity investment, would have been $28.0 million for SAC and $46.1 million for Southeastern. | |
The Company has been purchasing plastic bottles from Southeastern and finished products from SAC for more than ten years and has never had to pay against these guarantees. | |
The Company has an equity ownership in each of the entities in addition to the guarantees of certain indebtedness and records its investment in each under the equity method. As of September 29, 2013, SAC had total assets of approximately $41 million and total debt of approximately $22 million. SAC had total revenues for YTD 2013 of approximately $138 million. As of September 29, 2013, Southeastern had total assets of approximately $348 million and total debt of approximately $139 million. Southeastern had total revenue for YTD 2013 of approximately $525 million. | |
The Company has standby letters of credit, primarily related to its property and casualty insurance programs. On September 29, 2013, these letters of credit totaled $23.1 million. The Company was required to maintain $4.5 million of restricted cash for letters of credit beginning in the second quarter of 2009, which was reduced to $3.5 million in the second quarter of 2010 and to $3.0 million in the second quarter of 2011. The requirement to maintain restricted cash for these letters of credit was eliminated in the first quarter of 2012. | |
The Company participates in long-term marketing contractual arrangements with certain prestige properties, athletic venues and other locations. The future payments related to these contractual arrangements as of September 29, 2013 amounted to $40.7 million and expire at various dates through 2022. | |
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, cash flows or results of operations 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 audit by tax authorities in jurisdictions where it conducts business. These audits may result in assessments that are subsequently resolved with the tax authorities or potentially through the courts. Management believes the Company has adequately provided for any assessments that are likely to result from these audits; however, final assessments, if any, could be different than the amounts recorded in the consolidated financial statements. |
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
15. Income Taxes | |||||||||
The Company’s effective tax rate, as calculated by dividing income tax expense by income before income taxes, for YTD 2013 and YTD 2012 was 28.8% and 40.5%, respectively. The Company’s effective tax rate, as calculated by dividing income tax expense by income before income taxes minus net income attributable to noncontrolling interest, for YTD 2013 and YTD 2012 was 31.1% and 43.1%, respectively. | |||||||||
The following table provides a reconciliation of income tax expense at the statutory federal rate to actual income tax expense. | |||||||||
First Nine Months | |||||||||
In Thousands | 2013 | 2012 | |||||||
Statutory expense | $ | 17,653 | $ | 16,603 | |||||
State income taxes, net of federal benefit | 2,093 | 2,052 | |||||||
Valuation allowance change | (1 | ) | 1,172 | ||||||
Noncontrolling interest – Piedmont | (1,348 | ) | (1,324 | ) | |||||
Manufacturing deduction benefit | (1,678 | ) | (1,412 | ) | |||||
Meals and entertainment | 1,070 | 1,024 | |||||||
Adjustment for uncertain tax positions | (223 | ) | 378 | ||||||
Adjustment for state tax legislation | (2,261 | ) | 0 | ||||||
Other, net | (755 | ) | 735 | ||||||
Income tax expense | $ | 14,550 | $ | 19,228 | |||||
As of September 29, 2013, the Company had $2.8 million of uncertain tax positions, including accrued interest, all of which would affect the Company’s effective tax rate if recognized. As of December 30, 2012, the Company had $5.5 million of uncertain tax positions, including accrued interest, of which $3.0 million would affect the Company’s effective tax rate if recognized. As of September 30, 2012, the Company had $5.1 million of uncertain tax positions, including accrued interest, of which $2.6 million would affect the Company’s effective tax rate if recognized. While it is expected that the amount of uncertain tax positions may change in the next 12 months, the Company does not expect any change to have a material impact on the consolidated financial statements. | |||||||||
In Q3 2013, the Company reduced its liability for uncertain tax positions by $3.4 million, of which only $0.9 million was a decrease to income tax expense. In Q3 2012, the Company reduced its liability for uncertain tax positions by $0.2 million all of which was a decrease to income tax expense. The reduction to the liability for uncertain tax positions was primarily due to the lapse of the applicable statute of limitations. | |||||||||
The Company recognizes potential interest and penalties related to uncertain tax positions in income tax expense. As of September 29, 2013, December 30, 2012, and September 30, 2012, the Company had $0.2 million, $0.5 million and $0.5 million, respectively, of accrued interest related to uncertain tax positions. Income tax expense included an interest credit of $0.3 million in YTD 2013 and interest expense of $0.1 million in YTD 2012. | |||||||||
The American Taxpayer Relief Act (“Act”) was signed into law on January 2, 2013. The Act approved a retroactive extension of certain favorable business and energy tax provisions that had expired at the end of 2011 which are applicable to the Company. The Company recorded a reduction to income tax expense totaling $0.4 million related to the Act in YTD 2013, which is included in the other, net line of the reconciliation of income tax expense table. | |||||||||
During Q3 2013, state tax legislation was enacted that reduces the corporate tax rate in that state from 6.9% to 6.0% effective January 1, 2014. A further reduction to the corporate tax rate from 6.0% to 5.0% will become effective January 1, 2015. This reduction in the corporate tax rate decreases the Company’s income tax expense by approximately $2.3 million due to the impact on the Company’s net deferred tax liabilities. The total impact of this legislation was recorded in Q3 2013. | |||||||||
In YTD 2012, the Company increased its valuation allowance by $1.2 million. The net effect of this adjustment was an increase to income tax expense. The increase to the valuation allowance was primarily due to the Company’s assessment of its ability to use certain net operating loss carryforwards. | |||||||||
Tax years from 2010 remain open to examination by the Internal Revenue Service, and various tax years from 1995 remain open to examination by certain state tax jurisdictions to which the Company is subject due to loss carryforwards. | |||||||||
On September 13, 2013, the Internal Revenue Service and the United States Treasury Department issued final tax regulations that provide guidance regarding the deduction and capitalization of expenditures related to tangible property. The Company does not expect the final tax regulations to have a material impact on the consolidated financial statements. | |||||||||
The Company’s income tax assets and liabilities are subject to adjustment in future periods based on the Company’s ongoing evaluations of such assets and liabilities and new information that becomes available to the Company. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||||||
16. Accumulated Other Comprehensive Loss | |||||||||||||||||
Accumulated other comprehensive loss is comprised of adjustments relative to the Company’s pension and postretirement medical benefit plans and foreign currency translation adjustments required for a subsidiary of the Company that performs data analysis and provides consulting services outside the United States. | |||||||||||||||||
A summary of accumulated other comprehensive loss for Q3 2013 and Q3 2012 is as follows: | |||||||||||||||||
In Thousands | June 30, | Pre-tax | Tax | Sept. 29, | |||||||||||||
2013 | Activity | Effect | 2013 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (75,388 | ) | $ | 837 | $ | (323 | ) | $ | (74,874 | ) | ||||||
Prior service costs | (28 | ) | 4 | (2 | ) | (26 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (21,574 | ) | 700 | (270 | ) | (21,144 | ) | ||||||||||
Prior service costs | 3,874 | (377 | ) | 146 | 3,643 | ||||||||||||
Foreign currency translation adjustment | 6 | (1 | ) | 0 | 5 | ||||||||||||
Total | $ | (93,110 | ) | $ | 1,163 | $ | (449 | ) | $ | (92,396 | ) | ||||||
In Thousands | July 1, | Pre-tax | Tax | Sept. 30, | |||||||||||||
2012 | Activity | Effect | 2012 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (63,948 | ) | $ | 693 | $ | (272 | ) | $ | (63,527 | ) | ||||||
Prior service costs | (38 | ) | 5 | (2 | ) | (35 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (20,501 | ) | 613 | (241 | ) | (20,129 | ) | ||||||||||
Prior service costs | 4,792 | (379 | ) | 148 | 4,561 | ||||||||||||
Foreign currency translation adjustment | 6 | 0 | 0 | 6 | |||||||||||||
Total | $ | (79,689 | ) | $ | 932 | $ | (367 | ) | $ | (79,124 | ) | ||||||
A summary of accumulated other comprehensive loss for YTD 2013 and YTD 2012 is as follows: | |||||||||||||||||
In Thousands | Dec. 30, | Pre-tax | Tax | Sept. 29, | |||||||||||||
2012 | Activity | Effect | 2013 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (76,407 | ) | $ | 2,513 | $ | (980 | ) | $ | (74,874 | ) | ||||||
Prior service costs | (33 | ) | 12 | (5 | ) | (26 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (22,425 | ) | 2,100 | (819 | ) | (21,144 | ) | ||||||||||
Prior service costs | 4,334 | (1,133 | ) | 442 | 3,643 | ||||||||||||
Foreign currency translation adjustment | 5 | 0 | 0 | 5 | |||||||||||||
Total | $ | (94,526 | ) | $ | 3,492 | $ | (1,362 | ) | $ | (92,396 | ) | ||||||
In Thousands | Jan. 1, | Pre-tax | Tax | Sept. 30, | |||||||||||||
2012 | Activity | Effect | 2012 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (64,789 | ) | $ | 2,080 | $ | (818 | ) | $ | (63,527 | ) | ||||||
Prior service costs | (44 | ) | 15 | (6 | ) | (35 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (21,244 | ) | 1,838 | (723 | ) | (20,129 | ) | ||||||||||
Prior service costs | 5,251 | (1,137 | ) | 447 | 4,561 | ||||||||||||
Foreign currency translation adjustment | 6 | 0 | 0 | 6 | |||||||||||||
Total | $ | (80,820 | ) | $ | 2,796 | $ | (1,100 | ) | $ | (79,124 | ) | ||||||
A summary of the impact on the income statement line items is as follows: | |||||||||||||||||
In Thousands | Net | Net Postretirement | Total | ||||||||||||||
Pension | Benefits Activity | ||||||||||||||||
Activity | |||||||||||||||||
Q3 2013 | |||||||||||||||||
Cost of sales | $ | 76 | $ | 42 | $ | 118 | |||||||||||
S,D&A expenses | 765 | 281 | 1,046 | ||||||||||||||
Subtotal pre-tax | 841 | 323 | 1,164 | ||||||||||||||
Income tax expense | 325 | 124 | 449 | ||||||||||||||
Total after tax effect | $ | 516 | $ | 199 | $ | 715 | |||||||||||
Q3 2012 | |||||||||||||||||
Cost of sales | $ | 77 | $ | 28 | $ | 105 | |||||||||||
S,D&A expenses | 621 | 206 | 827 | ||||||||||||||
Subtotal pre-tax | 698 | 234 | 932 | ||||||||||||||
Income tax expense | 274 | 93 | 367 | ||||||||||||||
Total after tax effect | $ | 424 | $ | 141 | $ | 565 | |||||||||||
YTD 2013 | |||||||||||||||||
Cost of sales | $ | 227 | $ | 116 | $ | 343 | |||||||||||
S,D&A expenses | 2,298 | 851 | 3,149 | ||||||||||||||
Subtotal pre-tax | 2,525 | 967 | 3,492 | ||||||||||||||
Income tax expense | 985 | 377 | 1,362 | ||||||||||||||
Total after tax effect | $ | 1,540 | $ | 590 | $ | 2,130 | |||||||||||
YTD 2012 | |||||||||||||||||
Cost of sales | $ | 230 | $ | 84 | $ | 314 | |||||||||||
S,D&A expenses | 1,865 | 617 | 2,482 | ||||||||||||||
Subtotal pre-tax | 2,095 | 701 | 2,796 | ||||||||||||||
Income tax expense | 824 | 276 | 1,100 | ||||||||||||||
Total after tax effect | $ | 1,271 | $ | 425 | $ | 1,696 | |||||||||||
Capital_Transactions
Capital Transactions | 9 Months Ended |
Sep. 29, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Capital Transactions | ' |
17. Capital Transactions | |
The Company has two classes of common stock outstanding, Common Stock and Class B Common Stock. The Common Stock is traded on the NASDAQ Global Select Marketsm under the symbol COKE. There is no established public trading market for the Class B Common Stock. Shares of the Class B Common Stock are convertible on a share-for-share basis into shares of Common Stock at any time at the option of the holders of Class B Common Stock. | |
No cash dividend or dividend of property or stock other than stock of the Company, as specifically described in the Company’s certificate of incorporation, may be declared and paid on the Class B Common Stock unless an equal or greater dividend is declared and paid on the Common Stock. During YTD 2013 and YTD 2012, dividends of $.75 per share were declared and paid on both the Common Stock and Class B Common Stock. | |
Each share of Common Stock is entitled to one vote per share and each share of Class B Common Stock is entitled to 20 votes per share at all meetings of stockholders. Except as otherwise required by law, holders of the Common Stock and Class B Common Stock vote together as a single class on all matters brought before the Company’s stockholders. In the event of liquidation, there is no preference between the two classes of common stock. | |
On April 29, 2008, the stockholders of the Company approved a Performance Unit Award Agreement for J. Frank Harrison, III, the Company’s Chairman of the Board of Directors and Chief Executive Officer, consisting of 400,000 performance units (“Units”). Each Unit represents the right to receive one share of the Company’s Class B Common Stock, subject to certain terms and conditions. The Units are subject to vesting in annual increments over a ten-year period starting in fiscal year 2009. The number of Units that vest each year equals the product of 40,000 multiplied by the overall goal achievement factor (not to exceed 100%) under the Company’s Annual Bonus Plan. | |
Each annual 40,000 Unit tranche has an independent performance requirement as it is not established until the Company’s Annual Bonus Plan targets are approved each year by the Compensation Committee of the Board of Directors. As a result, each 40,000 Unit tranche is considered to have its own service inception date, grant-date and requisite service period. The Company’s Annual Bonus Plan targets, which establish the performance requirements for the Performance Unit Award Agreement, are approved by the Compensation Committee of the Board of Directors in the first quarter of each year. The Performance Unit Award Agreement does not entitle Mr. Harrison, III to participate in dividends or voting rights until each installment has vested and the shares are issued. Mr. Harrison, III may satisfy tax withholding requirements in whole or in part by requiring the Company to settle in cash such number of Units otherwise payable in Class B Common Stock to meet the maximum statutory tax withholding requirements. | |
On March 5, 2013 and March 6, 2012, the Compensation Committee determined that 40,000 shares of the Company’s Class B Common Stock should be issued in each year pursuant to a Performance Unit Award Agreement to J. Frank Harrison, III, in connection with his services in 2012 and 2011, respectively, as Chairman of the Board of Directors and Chief Executive Officer of the Company. As permitted under the terms of the Performance Unit Award Agreement, 19,880 and 17,680 of such shares were settled in cash in 2013 and 2012, respectively, to satisfy tax withholding obligations in connection with the vesting of the performance units. | |
The increase in the total number of shares outstanding in YTD 2013 and YTD 2012 was due to the issuance of the 20,120 and 22,320 shares, respectively, of Class B Common Stock related to the Performance Unit Award Agreement in each year. | |
Compensation expense for the Performance Unit Award Agreement recognized in YTD 2013 was $1.9 million, which was based upon a common stock share price of $63.36 on September 27, 2013. Compensation expense for the Performance Unit Award Agreement recognized in YTD 2012 was $2.0 million, which was based upon a common stock share price of $68.10 on September 28, 2012. |
Benefit_Plans
Benefit Plans | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Benefit Plans | ' | ||||||||||||||||
18. Benefit Plans | |||||||||||||||||
Pension Plans | |||||||||||||||||
All benefits under the primary Company-sponsored pension plan were frozen as of June 30, 2006 and no benefits have accrued to participants after this date. The Company also sponsors a pension plan for certain employees under collective bargaining agreements. Benefits under the pension plan for collectively bargained employees are determined in accordance with negotiated formulas for the respective participants. Contributions to the plans are based on actuarial determined amounts and are limited to the amounts currently deductible for income tax purposes. | |||||||||||||||||
The components of net periodic pension cost were as follows: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 32 | $ | 28 | $ | 96 | $ | 83 | |||||||||
Interest cost | 3,086 | 3,124 | 9,258 | 9,371 | |||||||||||||
Expected return on plan assets | (3,546 | ) | (2,973 | ) | (10,640 | ) | (8,918 | ) | |||||||||
Amortization of prior service cost | 4 | 5 | 12 | 15 | |||||||||||||
Recognized net actuarial loss | 837 | 693 | 2,513 | 2,080 | |||||||||||||
Net periodic pension cost | $ | 413 | $ | 877 | $ | 1,239 | $ | 2,631 | |||||||||
The Company contributed $0.1 million to the Company-sponsored pension plans during YTD 2013. Anticipated contributions for the two Company-sponsored pension plans will be in the range of $2 million to $3 million during the remainder of 2013. | |||||||||||||||||
In Q3 2013, the Company announced a limited Lump Sum Window distribution of present valued pension benefits to certain terminated plan participants meeting certain criteria. The benefit election window was open during Q3 2013 and benefit distributions will be made during Q4 2013. Based upon the number of plan participants electing to take a distribution, and the total amount of such distributions, the Company will incur a non-cash charge of approximately $12 million in Q4 2013 when the distributions are made in accordance with the relevant accounting standards. The reduction in the number of plan participants and the reduction of plan assets will reduce the cost of administering the pension plan in the future. | |||||||||||||||||
Postretirement Benefits | |||||||||||||||||
The Company provides postretirement benefits for a portion of its current employees. The Company recognizes the cost of postretirement benefits, which consist principally of medical benefits, during employees’ periods of active service. The Company does not pre-fund these benefits and has the right to modify or terminate certain of these benefits in the future. | |||||||||||||||||
The components of net periodic postretirement benefit cost were as follows: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 412 | $ | 316 | $ | 1,238 | $ | 948 | |||||||||
Interest cost | 715 | 781 | 2,145 | 2,344 | |||||||||||||
Recognized net actuarial loss | 700 | 613 | 2,100 | 1,838 | |||||||||||||
Amortization of prior service cost | (377 | ) | (379 | ) | (1,133 | ) | (1,137 | ) | |||||||||
Net periodic postretirement benefit cost | $ | 1,450 | $ | 1,331 | $ | 4,350 | $ | 3,993 | |||||||||
401(k) Savings Plan | |||||||||||||||||
The Company provides a 401(k) Savings Plan for substantially all of its full-time employees who are not part of collective bargaining agreements. | |||||||||||||||||
During 2012, the Company changed the Company’s 401(k) Saving Plan matching contribution from fixed to discretionary, maintaining the option to make matching contributions for eligible participants of up to 5% based on the Company’s financial results for 2012 and future years. The 5% matching contribution was accrued during 2012. Based on the Company’s financial results, the Company decided to match 5% of eligible participants’ contributions for the entire year of 2012. The Company made this contribution payment for 2012 in Q1 2013. The Company has accrued the 5% discretionary matching contribution for YTD 2013, as this is the best estimate of the Company’s probable obligation. The total expense for this benefit was $5.8 million and $6.4 million in YTD 2013 and YTD 2012, respectively. | |||||||||||||||||
Multi-Employer Benefits | |||||||||||||||||
The Company currently has a liability to a multi-employer pension plan related to the Company’s exit from the plan in 2008. As of September 29, 2013, the Company had a liability of $9.4 million recorded. The Company is required to make payments of approximately $1 million each year through 2028 to this multi-employer pension plan. | |||||||||||||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Related Party Transactions [Abstract] | ' | ||||||||
Related Party Transactions | ' | ||||||||
19. Related Party Transactions | |||||||||
The Company’s business consists primarily of the production, marketing and distribution of nonalcoholic beverages of The Coca-Cola Company, which is the sole owner of the secret formulas under which the primary components (either concentrate or syrup) of its soft drink products are manufactured. As of September 29, 2013, The Coca-Cola Company had a 34.8% interest in the Company’s total outstanding Common Stock, representing 5.0% of the total voting power of the Company’s Common Stock and Class B Common Stock voting together as a single class. The Coca-Cola Company does not own any shares of Class B Common Stock of the Company. | |||||||||
The following table summarizes the significant transactions between the Company and The Coca-Cola Company: | |||||||||
First Nine Months | |||||||||
In Millions | 2013 | 2012 | |||||||
Payments by the Company for concentrate, syrup, sweetener and other purchases | $ | 309.9 | $ | 313.9 | |||||
Marketing funding support payments to the Company | 32.6 | 33.1 | |||||||
Payments by the Company net of marketing funding support | $ | 277.3 | $ | 280.8 | |||||
Payments by the Company for customer marketing programs | $ | 43.2 | $ | 43.1 | |||||
Payments by the Company for cold drink equipment parts | 6.9 | 7.1 | |||||||
Fountain delivery and equipment repair fees paid to the Company | 9.4 | 9.1 | |||||||
Presence marketing funding support provided by The Coca-Cola Company on the Company’s behalf | 4 | 2.6 | |||||||
Payments to the Company to facilitate the distribution of certain brands and packages to other Coca-Cola bottlers | 3 | 2.1 | |||||||
The Company has a production arrangement with Coca-Cola Refreshments USA Inc. (“CCR”) to buy and sell finished products at cost. CCR is a wholly-owned subsidiary of The Coca-Cola Company. Sales to CCR under this arrangement were $45.4 million and $49.2 million in YTD 2013 and YTD 2012, respectively. Purchases from CCR under this arrangement were $34.9 million and $23.3 million in YTD 2013 and YTD 2012, respectively. In addition, CCR distributes one of the Company’s own brands (Tum-E Yummies). Total sales to CCR for this brand were $19.3 million and $18.3 million in YTD 2013 and YTD 2012, respectively. | |||||||||
Along with all other Coca-Cola bottlers in the United States, the Company is a member in Coca-Cola Bottlers’ Sales and Services Company, LLC (“CCBSS”), which was formed in 2003 for the purposes of facilitating various procurement functions and distributing certain specified beverage products of The Coca-Cola Company with the intention of enhancing the efficiency and competitiveness of the Coca-Cola bottling system in the United States. CCBSS negotiates the procurement for the majority of the Company’s raw materials (excluding concentrate). The Company pays an administrative fee to CCBSS for its services. Administrative fees to CCBSS for its services were $0.3 million in both YTD 2013 and YTD 2012. Amounts due from CCBSS for rebates on raw materials were $5.0 million, $3.8 million and $4.0 million as of September 29, 2013, December 30, 2012 and September 30, 2012, respectively. CCR is also a member of CCBSS. | |||||||||
The Company is a member of SAC, a manufacturing cooperative. SAC sells finished products to the Company and Piedmont at cost. Purchases from SAC by the Company and Piedmont for finished products were $104.7 million and $106.9 million in YTD 2013 and YTD 2012, respectively. The Company also manages the operations of SAC pursuant to a management agreement. Management fees earned from SAC were $1.2 million and $1.1 million in YTD 2013 and YTD 2012, respectively. The Company has also guaranteed a portion of debt for SAC. Such guarantee amounted to $21.9 million as of September 29, 2013. The Company’s equity investment in SAC was $4.1 million as of September 29, 2013, December 30, 2012 and September 30, 2012 and was recorded in other assets on the Company’s consolidated balance sheets. | |||||||||
The Company is a shareholder in two entities from which it purchases a majority of its requirements for plastic bottles. Net purchases from these entities were $60.4 million in YTD 2013 and $63.3 million in YTD 2012. In conjunction with the Company’s participation in one of these entities, Southeastern, the Company has guaranteed a portion of the entity’s debt. Such guarantee amounted to $11.6 million as of September 29, 2013. The Company’s equity investment in Southeastern was $20.8 million, $19.5 million and $19.5 million as of September 29, 2013, December 30, 2012 and September 30, 2012, respectively, and was recorded in other assets on the Company’s consolidated balance sheets. | |||||||||
The Company holds no assets as collateral against SAC or Southeastern guarantees, the fair value of which is immaterial. | |||||||||
The Company monitors its investments in cooperatives and would be required to write down its investment if an impairment is identified and the Company determined it to be other than temporary. No impairment of the Company’s investments in cooperatives has been identified as of September 29, 2013 nor was there any impairment in 2012. | |||||||||
The Company leases from Harrison Limited Partnership One (“HLP”) the Snyder Production Center (“SPC”) and an adjacent sales facility, which are located in Charlotte, North Carolina. HLP is directly and indirectly owned by trusts of which J. Frank Harrison, III, Chairman of the Board of Directors and Chief Executive Officer of the Company, and Deborah H. Everhart, a director of the Company, are trustees and beneficiaries. Morgan H. Everett, a director of the Company, is a permissible, discretionary beneficiary of the trusts that directly or indirectly own HLP. The lease expires on December 31, 2020. The principal balance outstanding under this capital lease as of September 29, 2013, December 30, 2012 and September 30, 2012 was $22.7 million, $24.1 million and $24.6 million, respectively. Rental payments related to this lease were $2.7 million and $2.6 million in YTD 2013 and YTD 2012, respectively. | |||||||||
The Company leases from Beacon Investment Corporation (“Beacon”) the Company’s headquarters office facility and an adjacent office facility. The lease expires on December 31, 2021. Beacon’s sole shareholder is J. Frank Harrison, III. The principal balance outstanding under this capital lease as of September 29, 2013, December 30, 2012 and September 30, 2012 was $23.5 million, $25.1 million and $25.6 million, respectively. Rental payments related to this lease were $3.1 million and $3.0 million in YTD 2013 and YTD 2012, respectively. |
Net_Sales_by_Product_Category
Net Sales by Product Category | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Net Sales by Product Category | ' | ||||||||||||||||
20. Net Sales by Product Category | |||||||||||||||||
Net sales by product category were as follows: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Bottle/can sales: | |||||||||||||||||
Sparkling beverages (including energy products) | $ | 273,905 | $ | 271,279 | $ | 798,271 | $ | 809,640 | |||||||||
Still beverages | 73,336 | 68,256 | 196,352 | 186,067 | |||||||||||||
Total bottle/can sales | 347,241 | 339,535 | 994,623 | 995,707 | |||||||||||||
Other sales: | |||||||||||||||||
Sales to other Coca-Cola bottlers | 42,030 | 39,160 | 126,621 | 111,855 | |||||||||||||
Post-mix and other | 45,193 | 41,160 | 125,750 | 120,171 | |||||||||||||
Total other sales | 87,223 | 80,320 | 252,371 | 232,026 | |||||||||||||
Total net sales | $ | 434,464 | $ | 419,855 | $ | 1,246,994 | $ | 1,227,733 | |||||||||
Sparkling beverages are carbonated beverages as well as energy products while still beverages are noncarbonated beverages. |
Net_Income_Per_Share
Net Income Per Share | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Net Income Per Share | ' | ||||||||||||||||
21. Net Income Per Share | |||||||||||||||||
The following table sets forth the computation of basic net income per share and diluted net income per share under the two-class method: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands (Except Per Share Data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: | |||||||||||||||||
Net income attributable to Coca-Cola Bottling Co. Consolidated | $ | 16,169 | $ | 10,079 | $ | 32,260 | $ | 25,391 | |||||||||
Less dividends: | |||||||||||||||||
Common Stock | 1,785 | 1,785 | 5,356 | 5,356 | |||||||||||||
Class B Common Stock | 527 | 522 | 1,577 | 1,561 | |||||||||||||
Total undistributed earnings | $ | 13,857 | $ | 7,772 | $ | 25,327 | $ | 18,474 | |||||||||
Common Stock undistributed earnings – basic | $ | 10,698 | $ | 6,013 | $ | 19,563 | $ | 14,301 | |||||||||
Class B Common Stock undistributed earnings – basic | 3,159 | 1,759 | 5,764 | 4,173 | |||||||||||||
Total undistributed earnings – basic | $ | 13,857 | $ | 7,772 | $ | 25,327 | $ | 18,474 | |||||||||
Common Stock undistributed earnings – diluted | $ | 10,652 | $ | 5,987 | $ | 19,479 | $ | 14,239 | |||||||||
Class B Common Stock undistributed earnings – diluted | 3,205 | 1,785 | 5,848 | 4,235 | |||||||||||||
Total undistributed earnings – diluted | $ | 13,857 | $ | 7,772 | $ | 25,327 | $ | 18,474 | |||||||||
Numerator for basic net income per Common Stock share: | |||||||||||||||||
Dividends on Common Stock | $ | 1,785 | $ | 1,785 | $ | 5,356 | $ | 5,356 | |||||||||
Common Stock undistributed earnings – basic | 10,698 | 6,013 | 19,563 | 14,301 | |||||||||||||
Numerator for basic net income per Common Stock share | $ | 12,483 | $ | 7,798 | $ | 24,919 | $ | 19,657 | |||||||||
Numerator for basic net income per Class B Common Stock share: | |||||||||||||||||
Dividends on Class B Common Stock | $ | 527 | $ | 522 | $ | 1,577 | $ | 1,561 | |||||||||
Class B Common Stock undistributed earnings – basic | 3,159 | 1,759 | 5,764 | 4,173 | |||||||||||||
Numerator for basic net income per Class B Common Stock share | $ | 3,686 | $ | 2,281 | $ | 7,341 | $ | 5,734 | |||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands (Except Per Share Data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator for diluted net income per Common Stock share: | |||||||||||||||||
Dividends on Common Stock | $ | 1,785 | $ | 1,785 | $ | 5,356 | $ | 5,356 | |||||||||
Dividends on Class B Common Stock assumed converted to Common Stock | 527 | 522 | 1,577 | 1,561 | |||||||||||||
Common Stock undistributed earnings – diluted | 13,857 | 7,772 | 25,327 | 18,474 | |||||||||||||
Numerator for diluted net income per Common Stock share | $ | 16,169 | $ | 10,079 | $ | 32,260 | $ | 25,391 | |||||||||
Numerator for diluted net income per Class B Common Stock share: | |||||||||||||||||
Dividends on Class B Common Stock | $ | 527 | $ | 522 | $ | 1,577 | $ | 1,561 | |||||||||
Class B Common Stock undistributed earnings – diluted | 3,205 | 1,785 | 5,848 | 4,235 | |||||||||||||
Numerator for diluted net income per Class B Common Stock share | $ | 3,732 | $ | 2,307 | $ | 7,425 | $ | 5,796 | |||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands (Except Per Share Data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Denominator for basic net income per Common Stock and Class B Common Stock share: | |||||||||||||||||
Common Stock weighted average shares outstanding – basic | 7,141 | 7,141 | 7,141 | 7,141 | |||||||||||||
Class B Common Stock weighted average shares outstanding – basic | 2,109 | 2,089 | 2,104 | 2,084 | |||||||||||||
Denominator for diluted net income per Common Stock and Class B Common Stock share: | |||||||||||||||||
Common Stock weighted average shares outstanding – diluted (assumes conversion of Class B Common Stock to Common Stock) | 9,290 | 9,270 | 9,285 | 9,265 | |||||||||||||
Class B Common Stock weighted average shares outstanding – diluted | 2,149 | 2,129 | 2,144 | 2,124 | |||||||||||||
Basic net income per share: | |||||||||||||||||
Common Stock | $ | 1.75 | $ | 1.09 | $ | 3.49 | $ | 2.75 | |||||||||
Class B Common Stock | $ | 1.75 | $ | 1.09 | $ | 3.49 | $ | 2.75 | |||||||||
Diluted net income per share: | |||||||||||||||||
Common Stock | $ | 1.74 | $ | 1.09 | $ | 3.47 | $ | 2.74 | |||||||||
Class B Common Stock | $ | 1.74 | $ | 1.08 | $ | 3.46 | $ | 2.73 | |||||||||
NOTES TO TABLE | |||||||||||||||||
-1 | For purposes of the diluted net income per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted; therefore, 100% of undistributed earnings is allocated to Common Stock. | ||||||||||||||||
-2 | For purposes of the diluted net income per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed to be outstanding for the entire period and not converted. | ||||||||||||||||
-3 | Denominator for diluted net income per share for Common Stock and Class B Common Stock includes the dilutive effect of shares relative to the Performance Unit Award. |
Risks_and_Uncertainties
Risks and Uncertainties | 9 Months Ended |
Sep. 29, 2013 | |
Risks And Uncertainties [Abstract] | ' |
Risks and Uncertainties | ' |
22. Risks and Uncertainties | |
Approximately 88% of the Company’s YTD 2013 bottle/can volume to retail customers are products of The Coca-Cola Company, which is the sole supplier of these products or of the concentrates or syrups required to manufacture these products. The remaining 12% of the Company’s YTD 2013 bottle/can volume to retail customers are products of other beverage companies or those owned by the Company. The Company has beverage agreements under which it has various requirements to meet. Failure to meet the requirements of these beverage agreements could result in the loss of distribution rights for the respective product. | |
The Company’s products are sold and distributed directly by its employees to retail stores and other outlets. During both YTD 2013 and YTD 2012, approximately 68% of the Company’s bottle/can volume to retail customers was sold for future consumption, while the remaining bottle/can volume to retail customers of approximately 32% was sold for immediate consumption. The Company’s largest customers, Wal-Mart Stores, Inc. and Food Lion, LLC, accounted for approximately 21% and 8%, respectively, of the Company’s total bottle/can volume to retail customers in YTD 2013; and accounted for approximately 22% and 8%, respectively, of the Company’s total bottle/can volume to retail customers in YTD 2012. Wal-Mart Stores, Inc. accounted for approximately 14% and 15% of the Company’s total net sales during YTD 2013 and YTD 2012, respectively. No other customer represented greater than 10% of the Company’s total net sales for YTD 2013 or YTD 2012. | |
The Company obtains all of its aluminum cans from two domestic suppliers. The Company currently obtains a majority of its plastic bottles from two domestic entities. See Note 14 and Note 19 to the consolidated financial statements for additional information. | |
The Company is exposed to price risk on such commodities as aluminum, corn and resin which affects the cost of raw materials used in the production of finished products. The Company both produces and procures these finished products. Examples of the raw materials affected are aluminum cans and plastic bottles used for packaging and high fructose corn syrup used as a product ingredient. Further, the Company is exposed to commodity price risk on crude oil which impacts the Company’s cost of fuel used in the movement and delivery of the Company’s products. The Company participates in commodity hedging and risk mitigation programs administered both by CCBSS and by the Company. In addition, there is no limit on the price The Coca-Cola Company and other beverage companies can charge for concentrate. | |
Certain liabilities of the Company are subject to risk due to changes in both long-term and short-term interest rates. These liabilities include floating rate debt, retirement benefit obligations and the Company’s pension liability. | |
Approximately 7% of the Company’s labor force is covered by collective bargaining agreements. One collective bargaining agreement covering approximately .4% of the Company’s employees expired during 2012 and the Company entered into a new agreement during 2012. One collective bargaining agreement covering approximately .3% of the Company’s employees expired during Q1 2013 and the Company entered into a new agreement in Q1 2013. One collective bargaining agreement covering approximately .4% of the Company’s employees will expire in Q4 2013. |
Supplemental_Disclosures_of_Ca
Supplemental Disclosures of Cash Flow Information | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Supplemental Cash Flow Elements [Abstract] | ' | ||||||||
Supplemental Disclosures of Cash Flow Information | ' | ||||||||
23. Supplemental Disclosures of Cash Flow Information | |||||||||
Changes in current assets and current liabilities affecting cash flows were as follows: | |||||||||
First Nine Months | |||||||||
In Thousands | 2013 | 2012 | |||||||
Accounts receivable, trade, net | $ | (10,544 | ) | $ | (5,638 | ) | |||
Accounts receivable from The Coca-Cola Company | (9,028 | ) | (11,137 | ) | |||||
Accounts receivable, other | (1,650 | ) | 2,291 | ||||||
Inventories | (4,331 | ) | (8,334 | ) | |||||
Prepaid expenses and other current assets | 802 | 1,405 | |||||||
Accounts payable, trade | 7,085 | 7,120 | |||||||
Accounts payable to The Coca-Cola Company | 15,533 | 7,881 | |||||||
Other accrued liabilities | (1,255 | ) | 8,723 | ||||||
Accrued compensation | (6,298 | ) | (4,885 | ) | |||||
Accrued interest payable | 5,320 | 6,673 | |||||||
(Increase) decrease in current assets less current liabilities | $ | (4,366 | ) | $ | 4,099 | ||||
Non-cash activity | |||||||||
Additions to property, plant and equipment of $2.0 million and $2.2 million have been accrued but not paid and are recorded in accounts payable, trade as of September 29, 2013 and September 30, 2012, respectively. |
New_Accounting_Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 29, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
New Accounting Pronouncements | ' |
24. New Accounting Pronouncements | |
Recently Adopted Pronouncements | |
In December 2011, the Financial Accounting Standards Board (“FASB”) issued new guidance that is intended to enhance current disclosures on offsetting financial assets and liabilities. The new guidance requires an entity to disclose both gross and net information about financial instruments eligible for offset on the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. The provisions of the new guidance are effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The new guidance did not have a material impact on the Company’s consolidated financial statements. | |
In February 2013, the FASB issued new guidance which establishes new requirements for disclosing reclassifications of items out of accumulated other comprehensive income. The new guidance requires a company to report the effect of significant reclassifications from accumulated other comprehensive income to the respective line items in net income or cross-reference to other disclosures for items not reclassified entirely to net income. The new guidance was effective for annual and interim periods beginning after December 15, 2012. The new guidance expands disclosure of other comprehensive income but does not change the manner in which items of other comprehensive income are accounted or the way in which net income or other comprehensive income is reported in the financial statements. The Company elected to report this information within the notes to the consolidated financial statements. | |
Recently Issued Pronouncements | |
In July 2013, the FASB issued new guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The provisions of the new guidance are effective for fiscal years beginning after December 15, 2013 with early adoption permitted. The Company does not expect the requirements of this new guidance to have a material impact on the Company’s consolidated financial statements. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 29, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Revision of Prior Period Financial Statements | ' |
Revision of Prior Period Financial Statements | |
In connection with the preparation of the consolidated financial statements for the fourth quarter of 2012, the Company identified an error in the treatment of a certain prior year deferred tax asset in the Consolidated Balance Sheets. This resulted in an understatement of net noncurrent deferred income tax liability and an overstatement of retained earnings, and therefore equity, for each of the impacted periods. This error affected the Consolidated Balance Sheets and Consolidated Statements of Changes in Stockholders’ Equity as presented in each of the quarters of 2012, 2011 and 2010, including the year-end consolidated financial statements for 2011 and 2010. This resulted in an understatement of deferred income taxes and an overstatement of retained earnings for each of the impacted periods. In accordance with accounting guidance presented in ASC 250-10 (SEC Staff Accounting Bulletin No. 99, Materiality), the Company assessed the materiality of the error and concluded that it was not material to any of the Company’s previously issued financial statements taken as a whole. The Company has revised previously issued financial statements to correct the effect of this error. This revision did not affect the Company’s Consolidated Statements of Operations or Consolidated Statements of Cash Flows for any of these periods. | |
Offsetting of Financial Assets and Liabilities | ' |
Recently Adopted Pronouncements | |
In December 2011, the Financial Accounting Standards Board (“FASB”) issued new guidance that is intended to enhance current disclosures on offsetting financial assets and liabilities. The new guidance requires an entity to disclose both gross and net information about financial instruments eligible for offset on the balance sheet and instruments and transactions subject to an agreement similar to a master netting arrangement. The provisions of the new guidance are effective for fiscal years, and interim periods within those years, beginning on or after January 1, 2013. The new guidance did not have a material impact on the Company’s consolidated financial statements. | |
Reclassifications Out of Accumulated Other Comprehensive Income | ' |
In February 2013, the FASB issued new guidance which establishes new requirements for disclosing reclassifications of items out of accumulated other comprehensive income. The new guidance requires a company to report the effect of significant reclassifications from accumulated other comprehensive income to the respective line items in net income or cross-reference to other disclosures for items not reclassified entirely to net income. The new guidance was effective for annual and interim periods beginning after December 15, 2012. The new guidance expands disclosure of other comprehensive income but does not change the manner in which items of other comprehensive income are accounted or the way in which net income or other comprehensive income is reported in the financial statements. The Company elected to report this information within the notes to the consolidated financial statements. | |
Recently Issued Pronouncements Income Tax | ' |
Recently Issued Pronouncements | |
In July 2013, the FASB issued new guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. The provisions of the new guidance are effective for fiscal years beginning after December 15, 2013 with early adoption permitted. The Company does not expect the requirements of this new guidance to have a material impact on the Company’s consolidated financial statements. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Accounting Policies [Abstract] | ' | ||||||||||||
Revision of Prior Period Financial Statements | ' | ||||||||||||
First Nine Months Ended September 30, 2012 | |||||||||||||
In Thousands | As | Adjustment | As | ||||||||||
Previously | Revised | ||||||||||||
Reported | |||||||||||||
Deferred income taxes | $ | 143,553 | $ | 1,831 | $ | 145,384 | |||||||
Total liabilities | 1,175,369 | 1,831 | 1,177,200 | ||||||||||
Retained earnings | 172,751 | (1,831 | ) | 170,920 | |||||||||
Total equity of Coca-Cola Bottling Co. Consolidated | 152,892 | (1,831 | ) | 151,061 | |||||||||
Total equity | 215,647 | (1,831 | ) | 213,816 |
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Inventory Disclosure [Abstract] | ' | ||||||||||||
Summary of Inventories | ' | ||||||||||||
Inventories were summarized as follows: | |||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Finished products | $ | 42,695 | $ | 36,445 | $ | 43,809 | |||||||
Manufacturing materials | 8,594 | 11,019 | 10,014 | ||||||||||
Plastic shells, plastic pallets and other inventories | 18,966 | 18,460 | 20,669 | ||||||||||
Total inventories | $ | 70,255 | $ | 65,924 | $ | 74,492 | |||||||
Property_Plant_and_Equipment_T
Property, Plant and Equipment (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||||||||||
Principal Categories and Estimated Useful Lives of Property, Plant and Equipment | ' | ||||||||||||||||
The principal categories and estimated useful lives of property, plant and equipment were as follows: | |||||||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | Estimated | |||||||||||||
2013 | 2012 | 2012 | Useful Lives | ||||||||||||||
Land | $ | 12,307 | $ | 12,442 | $ | 12,443 | |||||||||||
Buildings | 113,032 | 118,556 | 118,096 | 8-50 years | |||||||||||||
Machinery and equipment | 143,518 | 140,963 | 134,808 | 5-20 years | |||||||||||||
Transportation equipment | 159,012 | 163,586 | 157,006 | 4-20 years | |||||||||||||
Furniture and fixtures | 42,403 | 41,580 | 40,126 | 3-10 years | |||||||||||||
Cold drink dispensing equipment | 319,767 | 314,863 | 312,280 | 5-17 years | |||||||||||||
Leasehold and land improvements | 72,632 | 71,956 | 77,425 | 5-20 years | |||||||||||||
Software for internal use | 80,310 | 74,907 | 72,858 | 3-10 years | |||||||||||||
Construction in progress | 3,266 | 8,264 | 3,674 | ||||||||||||||
Total property, plant and equipment, at cost | 946,247 | 947,117 | 928,716 | ||||||||||||||
Less: Accumulated depreciation and amortization | 651,100 | 639,650 | 636,948 | ||||||||||||||
Property, plant and equipment, net | $ | 295,147 | $ | 307,467 | $ | 291,768 | |||||||||||
Leased_Property_Under_Capital_1
Leased Property Under Capital Leases (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Leases [Abstract] | ' | ||||||||||||||||
Leased Property Under Capital Leases | ' | ||||||||||||||||
Leased property under capital leases was summarized as follows: | |||||||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | Estimated | |||||||||||||
2013 | 2012 | 2012 | Useful Lives | ||||||||||||||
Leased property under capital leases | $ | 94,629 | $ | 94,180 | $ | 94,180 | 3-20 years | ||||||||||
Less: Accumulated amortization | 44,417 | 40,030 | 38,579 | ||||||||||||||
Leased property under capital leases, net | $ | 50,212 | $ | 54,150 | $ | 55,601 | |||||||||||
Other_Identifiable_Intangible_1
Other Identifiable Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Other Identifiable Intangible Assets | ' | ||||||||||||||||
Other identifiable intangible assets were summarized as follows: | |||||||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | Estimated | |||||||||||||
2013 | 2012 | 2012 | Useful Lives | ||||||||||||||
Other identifiable intangible assets | $ | 8,547 | $ | 8,557 | $ | 8,557 | 20 years | ||||||||||
Less: Accumulated amortization | 4,783 | 4,534 | 4,430 | ||||||||||||||
Other identifiable intangible assets, net | $ | 3,764 | $ | 4,023 | $ | 4,127 | |||||||||||
Other_Accrued_Liabilities_Tabl
Other Accrued Liabilities (Tables) | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Payables And Accruals [Abstract] | ' | ||||||||||||
Summary of Other Accrued Liabilities | ' | ||||||||||||
Other accrued liabilities were summarized as follows: | |||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Accrued marketing costs | $ | 12,463 | $ | 12,506 | $ | 12,918 | |||||||
Accrued insurance costs | 21,571 | 21,458 | 21,629 | ||||||||||
Accrued taxes (other than income taxes) | 4,192 | 1,910 | 1,827 | ||||||||||
Accrued income taxes | 0 | 0 | 5,500 | ||||||||||
Employee benefit plan accruals | 16,754 | 16,988 | 17,294 | ||||||||||
Checks and transfers yet to be presented for payment from zero balance cash accounts | 9,999 | 11,962 | 9,491 | ||||||||||
All other accrued liabilities | 8,879 | 10,289 | 8,241 | ||||||||||
Total other accrued liabilities | $ | 73,858 | $ | 75,113 | $ | 76,900 |
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Summary of Debt | ' | ||||||||||||||||||||||||
Debt was summarized as follows: | |||||||||||||||||||||||||
In Thousands | Maturity | Interest | Interest | Sept. 29, | Dec. 30, | Sept. 30, | |||||||||||||||||||
Rate | Paid | 2013 | 2012 | 2012 | |||||||||||||||||||||
Revolving credit facility | 2016 | Variable | Varies | $ | 20,000 | $ | 30,000 | $ | 0 | ||||||||||||||||
Line of credit | 2013 | Variable | Varies | 20,000 | 20,000 | 0 | |||||||||||||||||||
Senior Notes | 2012 | 5 | % | Semi-annually | 0 | 0 | 150,000 | ||||||||||||||||||
Senior Notes | 2015 | 5.3 | % | Semi-annually | 100,000 | 100,000 | 100,000 | ||||||||||||||||||
Senior Notes | 2016 | 5 | % | Semi-annually | 164,757 | 164,757 | 164,757 | ||||||||||||||||||
Senior Notes | 2019 | 7 | % | Semi-annually | 110,000 | 110,000 | 110,000 | ||||||||||||||||||
Unamortized discount on Senior Notes | 2019 | (1,237 | ) | (1,371 | ) | (1,413 | ) | ||||||||||||||||||
413,520 | 423,386 | 523,344 | |||||||||||||||||||||||
Less: Current portion of debt | 20,000 | 20,000 | 120,000 | ||||||||||||||||||||||
Long-term debt | $ | 393,520 | $ | 403,386 | $ | 403,344 | |||||||||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||
Sep. 29, 2013 | |||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||
Summary of Pre-Tax Changes in Fair Value | ' | ||||||||||||||
The following summarizes Q3 2013 and Q3 2012 pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification, either as cost of sales or S,D&A expenses, of such changes in the consolidated statements of operations. | |||||||||||||||
Third Quarter | |||||||||||||||
In Thousands | Classification of Gain (Loss) | 2013 | 2012 | ||||||||||||
Commodity hedges | Cost of sales | $ | 0 | $ | 1,037 | ||||||||||
Total | $ | 0 | $ | 1,037 | |||||||||||
The following summarizes YTD 2013 and YTD 2012 pre-tax changes in the fair value of the Company’s commodity derivative financial instruments and the classification, either as cost of sales or S,D&A expenses, of such changes in the consolidated statements of operations. | |||||||||||||||
First Nine Months | |||||||||||||||
In Thousands | Classification of Gain (Loss) | 2013 | 2012 | ||||||||||||
Commodity hedges | Cost of sales | $ | (500 | ) | $ | 1,037 | |||||||||
Total | $ | (500 | ) | $ | 1,037 | ||||||||||
Summary of Fair Values and Classification in Consolidated Balance Sheets of Derivative Instruments | ' | ||||||||||||||
The following table summarizes the fair values and classification in the consolidated balance sheets of derivative instruments held by the Company: | |||||||||||||||
In Thousands | Balance Sheet Classification | Sept. 29, | Dec. 30, | Sept. 30, | |||||||||||
2013 | 2012 | 2012 | |||||||||||||
Commodity hedges at fair market value | Prepaid expenses and other current assets | $ | 0 | $ | 500 | $ | 1,037 | ||||||||
Unamortized cost of commodity hedging agreements | Prepaid expenses and other current assets | 0 | 562 | 562 | |||||||||||
Total | $ | 0 | $ | 1,062 | $ | 1,599 | |||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||||
The carrying amounts and fair values of the Company's debt, deferred compensation plan assets and liabilities, and derivative financial instruments were as follows: | |||||||||||||||||||||||||
Sept. 29, 2013 | Dec. 30, 2012 | Sept. 30, 2012 | |||||||||||||||||||||||
In Thousands | Carrying | Fair | Carrying | Fair | Carrying | Fair | |||||||||||||||||||
Amount | Value | Amount | Value | Amount | Value | ||||||||||||||||||||
Public debt securities | $ | (373,520 | ) | $ | (411,197 | ) | $ | (373,386 | ) | $ | (426,050 | ) | $ | (523,344 | ) | $ | (577,775 | ) | |||||||
Deferred compensation plan assets | 15,875 | 15,875 | 13,011 | 13,011 | 12,854 | 12,854 | |||||||||||||||||||
Deferred compensation plan liabilities | (15,875 | ) | (15,875 | ) | (13,011 | ) | (13,011 | ) | (12,854 | ) | (12,854 | ) | |||||||||||||
Commodity hedging agreements | 0 | 0 | 500 | 500 | 1,037 | 1,037 | |||||||||||||||||||
Non-public variable rate debt | (40,000 | ) | (40,000 | ) | (50,000 | ) | (50,000 | ) | 0 | 0 | |||||||||||||||
Deferred Compensation Plan, Commodity Hedging Agreements | ' | ||||||||||||||||||||||||
The following table summarizes, by assets and liabilities, the valuation of the Company’s deferred compensation plan and commodity hedging agreements: | |||||||||||||||||||||||||
Sept. 29, 2013 | Dec. 30, 2012 | Sept. 30, 2012 | |||||||||||||||||||||||
In Thousands | Level 1 | Level 2 | Level 1 | Level 2 | Level 1 | Level 2 | |||||||||||||||||||
Assets | |||||||||||||||||||||||||
Deferred compensation plan assets | $ | 15,875 | $ | 13,011 | $ | 12,854 | |||||||||||||||||||
Commodity hedging agreements | $ | 0 | $ | 500 | $ | 1,037 | |||||||||||||||||||
Liabilities | |||||||||||||||||||||||||
Deferred compensation plan liabilities | 15,875 | 13,011 | 12,854 |
Other_Liabilities_Tables
Other Liabilities (Tables) | 9 Months Ended | ||||||||||||
Sep. 29, 2013 | |||||||||||||
Payables And Accruals [Abstract] | ' | ||||||||||||
Summary of Other Liabilities | ' | ||||||||||||
Other liabilities were summarized as follows: | |||||||||||||
In Thousands | Sept. 29, | Dec. 30, | Sept. 30, | ||||||||||
2013 | 2012 | 2012 | |||||||||||
Accruals for executive benefit plans | $ | 106,370 | $ | 101,220 | $ | 99,568 | |||||||
Other | 16,838 | 17,083 | 17,020 | ||||||||||
Total other liabilities | $ | 123,208 | $ | 118,303 | $ | 116,588 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Reconciliation of Income Tax Expense at Statutory Federal Rate to Actual Income Tax Expense | ' | ||||||||
The following table provides a reconciliation of income tax expense at the statutory federal rate to actual income tax expense. | |||||||||
First Nine Months | |||||||||
In Thousands | 2013 | 2012 | |||||||
Statutory expense | $ | 17,653 | $ | 16,603 | |||||
State income taxes, net of federal benefit | 2,093 | 2,052 | |||||||
Valuation allowance change | (1 | ) | 1,172 | ||||||
Noncontrolling interest – Piedmont | (1,348 | ) | (1,324 | ) | |||||
Manufacturing deduction benefit | (1,678 | ) | (1,412 | ) | |||||
Meals and entertainment | 1,070 | 1,024 | |||||||
Adjustment for uncertain tax positions | (223 | ) | 378 | ||||||
Adjustment for state tax legislation | (2,261 | ) | 0 | ||||||
Other, net | (755 | ) | 735 | ||||||
Income tax expense | $ | 14,550 | $ | 19,228 | |||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||
Summary of Accumulated Other Comprehensive Loss | ' | ||||||||||||||||
A summary of accumulated other comprehensive loss for Q3 2013 and Q3 2012 is as follows: | |||||||||||||||||
In Thousands | June 30, | Pre-tax | Tax | Sept. 29, | |||||||||||||
2013 | Activity | Effect | 2013 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (75,388 | ) | $ | 837 | $ | (323 | ) | $ | (74,874 | ) | ||||||
Prior service costs | (28 | ) | 4 | (2 | ) | (26 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (21,574 | ) | 700 | (270 | ) | (21,144 | ) | ||||||||||
Prior service costs | 3,874 | (377 | ) | 146 | 3,643 | ||||||||||||
Foreign currency translation adjustment | 6 | (1 | ) | 0 | 5 | ||||||||||||
Total | $ | (93,110 | ) | $ | 1,163 | $ | (449 | ) | $ | (92,396 | ) | ||||||
In Thousands | July 1, | Pre-tax | Tax | Sept. 30, | |||||||||||||
2012 | Activity | Effect | 2012 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (63,948 | ) | $ | 693 | $ | (272 | ) | $ | (63,527 | ) | ||||||
Prior service costs | (38 | ) | 5 | (2 | ) | (35 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (20,501 | ) | 613 | (241 | ) | (20,129 | ) | ||||||||||
Prior service costs | 4,792 | (379 | ) | 148 | 4,561 | ||||||||||||
Foreign currency translation adjustment | 6 | 0 | 0 | 6 | |||||||||||||
Total | $ | (79,689 | ) | $ | 932 | $ | (367 | ) | $ | (79,124 | ) | ||||||
A summary of accumulated other comprehensive loss for YTD 2013 and YTD 2012 is as follows: | |||||||||||||||||
In Thousands | Dec. 30, | Pre-tax | Tax | Sept. 29, | |||||||||||||
2012 | Activity | Effect | 2013 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (76,407 | ) | $ | 2,513 | $ | (980 | ) | $ | (74,874 | ) | ||||||
Prior service costs | (33 | ) | 12 | (5 | ) | (26 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (22,425 | ) | 2,100 | (819 | ) | (21,144 | ) | ||||||||||
Prior service costs | 4,334 | (1,133 | ) | 442 | 3,643 | ||||||||||||
Foreign currency translation adjustment | 5 | 0 | 0 | 5 | |||||||||||||
Total | $ | (94,526 | ) | $ | 3,492 | $ | (1,362 | ) | $ | (92,396 | ) | ||||||
In Thousands | Jan. 1, | Pre-tax | Tax | Sept. 30, | |||||||||||||
2012 | Activity | Effect | 2012 | ||||||||||||||
Net pension activity: | |||||||||||||||||
Actuarial loss | $ | (64,789 | ) | $ | 2,080 | $ | (818 | ) | $ | (63,527 | ) | ||||||
Prior service costs | (44 | ) | 15 | (6 | ) | (35 | ) | ||||||||||
Net postretirement benefits activity: | |||||||||||||||||
Actuarial loss | (21,244 | ) | 1,838 | (723 | ) | (20,129 | ) | ||||||||||
Prior service costs | 5,251 | (1,137 | ) | 447 | 4,561 | ||||||||||||
Foreign currency translation adjustment | 6 | 0 | 0 | 6 | |||||||||||||
Total | $ | (80,820 | ) | $ | 2,796 | $ | (1,100 | ) | $ | (79,124 | ) | ||||||
Summary of Impact of Accumulated Other Comprehensive Income Loss on Income Statement | ' | ||||||||||||||||
A summary of the impact on the income statement line items is as follows: | |||||||||||||||||
In Thousands | Net Pension | Net Postretirement | Total | ||||||||||||||
Activity | Benefits Activity | ||||||||||||||||
Q3 2013 | |||||||||||||||||
Cost of sales | $ | 76 | $ | 42 | $ | 118 | |||||||||||
S,D&A expenses | 765 | 281 | 1,046 | ||||||||||||||
Subtotal pre-tax | 841 | 323 | 1,164 | ||||||||||||||
Income tax expense | 325 | 124 | 449 | ||||||||||||||
Total after tax effect | $ | 516 | $ | 199 | $ | 715 | |||||||||||
Q3 2012 | |||||||||||||||||
Cost of sales | $ | 77 | $ | 28 | $ | 105 | |||||||||||
S,D&A expenses | 621 | 206 | 827 | ||||||||||||||
Subtotal pre-tax | 698 | 234 | 932 | ||||||||||||||
Income tax expense | 274 | 93 | 367 | ||||||||||||||
Total after tax effect | $ | 424 | $ | 141 | $ | 565 | |||||||||||
YTD 2013 | |||||||||||||||||
Cost of sales | $ | 227 | $ | 116 | $ | 343 | |||||||||||
S,D&A expenses | 2,298 | 851 | 3,149 | ||||||||||||||
Subtotal pre-tax | 2,525 | 967 | 3,492 | ||||||||||||||
Income tax expense | 985 | 377 | 1,362 | ||||||||||||||
Total after tax effect | $ | 1,540 | $ | 590 | $ | 2,130 | |||||||||||
YTD 2012 | |||||||||||||||||
Cost of sales | $ | 230 | $ | 84 | $ | 314 | |||||||||||
S,D&A expenses | 1,865 | 617 | 2,482 | ||||||||||||||
Subtotal pre-tax | 2,095 | 701 | 2,796 | ||||||||||||||
Income tax expense | 824 | 276 | 1,100 | ||||||||||||||
Total after tax effect | $ | 1,271 | $ | 425 | $ | 1,696 | |||||||||||
Benefit_Plans_Tables
Benefit Plans (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Net Periodic Pension Cost | ' | ||||||||||||||||
The components of net periodic pension cost were as follows: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 32 | $ | 28 | $ | 96 | $ | 83 | |||||||||
Interest cost | 3,086 | 3,124 | 9,258 | 9,371 | |||||||||||||
Expected return on plan assets | (3,546 | ) | (2,973 | ) | (10,640 | ) | (8,918 | ) | |||||||||
Amortization of prior service cost | 4 | 5 | 12 | 15 | |||||||||||||
Recognized net actuarial loss | 837 | 693 | 2,513 | 2,080 | |||||||||||||
Net periodic pension cost | $ | 413 | $ | 877 | $ | 1,239 | $ | 2,631 | |||||||||
Components of Net Periodic Postretirement Benefit Cost | ' | ||||||||||||||||
The components of net periodic postretirement benefit cost were as follows: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Service cost | $ | 412 | $ | 316 | $ | 1,238 | $ | 948 | |||||||||
Interest cost | 715 | 781 | 2,145 | 2,344 | |||||||||||||
Recognized net actuarial loss | 700 | 613 | 2,100 | 1,838 | |||||||||||||
Amortization of prior service cost | (377 | ) | (379 | ) | (1,133 | ) | (1,137 | ) | |||||||||
Net periodic postretirement benefit cost | $ | 1,450 | $ | 1,331 | $ | 4,350 | $ | 3,993 | |||||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
Related Party Transactions [Abstract] | ' | ||||||||
Summary of Significant Transactions between Company and Coca-Cola Company | ' | ||||||||
The following table summarizes the significant transactions between the Company and The Coca-Cola Company: | |||||||||
First Nine Months | |||||||||
In Millions | 2013 | 2012 | |||||||
Payments by the Company for concentrate, syrup, sweetener and other purchases | $ | 309.9 | $ | 313.9 | |||||
Marketing funding support payments to the Company | 32.6 | 33.1 | |||||||
Payments by the Company net of marketing funding support | $ | 277.3 | $ | 280.8 | |||||
Payments by the Company for customer marketing programs | $ | 43.2 | $ | 43.1 | |||||
Payments by the Company for cold drink equipment parts | 6.9 | 7.1 | |||||||
Fountain delivery and equipment repair fees paid to the Company | 9.4 | 9.1 | |||||||
Presence marketing funding support provided by The Coca-Cola Company on the Company’s behalf | 4 | 2.6 | |||||||
Payments to the Company to facilitate the distribution of certain brands and packages to other Coca-Cola bottlers | 3 | 2.1 | |||||||
Net_Sales_by_Product_Category_
Net Sales by Product Category (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Net Sales by Product Category | ' | ||||||||||||||||
Net sales by product category were as follows: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Bottle/can sales: | |||||||||||||||||
Sparkling beverages (including energy products) | $ | 273,905 | $ | 271,279 | $ | 798,271 | $ | 809,640 | |||||||||
Still beverages | 73,336 | 68,256 | 196,352 | 186,067 | |||||||||||||
Total bottle/can sales | 347,241 | 339,535 | 994,623 | 995,707 | |||||||||||||
Other sales: | |||||||||||||||||
Sales to other Coca-Cola bottlers | 42,030 | 39,160 | 126,621 | 111,855 | |||||||||||||
Post-mix and other | 45,193 | 41,160 | 125,750 | 120,171 | |||||||||||||
Total other sales | 87,223 | 80,320 | 252,371 | 232,026 | |||||||||||||
Total net sales | $ | 434,464 | $ | 419,855 | $ | 1,246,994 | $ | 1,227,733 | |||||||||
Net_Income_Per_Share_Tables
Net Income Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 29, 2013 | |||||||||||||||||
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: | |||||||||||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands (Except Per Share Data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: | |||||||||||||||||
Net income attributable to Coca-Cola Bottling Co. Consolidated | $ | 16,169 | $ | 10,079 | $ | 32,260 | $ | 25,391 | |||||||||
Less dividends: | |||||||||||||||||
Common Stock | 1,785 | 1,785 | 5,356 | 5,356 | |||||||||||||
Class B Common Stock | 527 | 522 | 1,577 | 1,561 | |||||||||||||
Total undistributed earnings | $ | 13,857 | $ | 7,772 | $ | 25,327 | $ | 18,474 | |||||||||
Common Stock undistributed earnings – basic | $ | 10,698 | $ | 6,013 | $ | 19,563 | $ | 14,301 | |||||||||
Class B Common Stock undistributed earnings – basic | 3,159 | 1,759 | 5,764 | 4,173 | |||||||||||||
Total undistributed earnings – basic | $ | 13,857 | $ | 7,772 | $ | 25,327 | $ | 18,474 | |||||||||
Common Stock undistributed earnings – diluted | $ | 10,652 | $ | 5,987 | $ | 19,479 | $ | 14,239 | |||||||||
Class B Common Stock undistributed earnings – diluted | 3,205 | 1,785 | 5,848 | 4,235 | |||||||||||||
Total undistributed earnings – diluted | $ | 13,857 | $ | 7,772 | $ | 25,327 | $ | 18,474 | |||||||||
Numerator for basic net income per Common Stock share: | |||||||||||||||||
Dividends on Common Stock | $ | 1,785 | $ | 1,785 | $ | 5,356 | $ | 5,356 | |||||||||
Common Stock undistributed earnings – basic | 10,698 | 6,013 | 19,563 | 14,301 | |||||||||||||
Numerator for basic net income per Common Stock share | $ | 12,483 | $ | 7,798 | $ | 24,919 | $ | 19,657 | |||||||||
Numerator for basic net income per Class B Common Stock share: | |||||||||||||||||
Dividends on Class B Common Stock | $ | 527 | $ | 522 | $ | 1,577 | $ | 1,561 | |||||||||
Class B Common Stock undistributed earnings – basic | 3,159 | 1,759 | 5,764 | 4,173 | |||||||||||||
Numerator for basic net income per Class B Common Stock share | $ | 3,686 | $ | 2,281 | $ | 7,341 | $ | 5,734 | |||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands (Except Per Share Data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Numerator for diluted net income per Common Stock share: | |||||||||||||||||
Dividends on Common Stock | $ | 1,785 | $ | 1,785 | $ | 5,356 | $ | 5,356 | |||||||||
Dividends on Class B Common Stock assumed converted to Common Stock | 527 | 522 | 1,577 | 1,561 | |||||||||||||
Common Stock undistributed earnings – diluted | 13,857 | 7,772 | 25,327 | 18,474 | |||||||||||||
Numerator for diluted net income per Common Stock share | $ | 16,169 | $ | 10,079 | $ | 32,260 | $ | 25,391 | |||||||||
Numerator for diluted net income per Class B Common Stock share: | |||||||||||||||||
Dividends on Class B Common Stock | $ | 527 | $ | 522 | $ | 1,577 | $ | 1,561 | |||||||||
Class B Common Stock undistributed earnings – diluted | 3,205 | 1,785 | 5,848 | 4,235 | |||||||||||||
Numerator for diluted net income per Class B Common Stock share | $ | 3,732 | $ | 2,307 | $ | 7,425 | $ | 5,796 | |||||||||
Third Quarter | First Nine Months | ||||||||||||||||
In Thousands (Except Per Share Data) | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Denominator for basic net income per Common Stock and Class B Common Stock share: | |||||||||||||||||
Common Stock weighted average shares outstanding – basic | 7,141 | 7,141 | 7,141 | 7,141 | |||||||||||||
Class B Common Stock weighted average shares outstanding – basic | 2,109 | 2,089 | 2,104 | 2,084 | |||||||||||||
Denominator for diluted net income per Common Stock and Class B Common Stock share: | |||||||||||||||||
Common Stock weighted average shares outstanding – diluted (assumes conversion of Class B Common Stock to Common Stock) | 9,290 | 9,270 | 9,285 | 9,265 | |||||||||||||
Class B Common Stock weighted average shares outstanding – diluted | 2,149 | 2,129 | 2,144 | 2,124 | |||||||||||||
Basic net income per share: | |||||||||||||||||
Common Stock | $ | 1.75 | $ | 1.09 | $ | 3.49 | $ | 2.75 | |||||||||
Class B Common Stock | $ | 1.75 | $ | 1.09 | $ | 3.49 | $ | 2.75 | |||||||||
Diluted net income per share: | |||||||||||||||||
Common Stock | $ | 1.74 | $ | 1.09 | $ | 3.47 | $ | 2.74 | |||||||||
Class B Common Stock | $ | 1.74 | $ | 1.08 | $ | 3.46 | $ | 2.73 | |||||||||
NOTES TO TABLE | |||||||||||||||||
-1 | For purposes of the diluted net income per share computation for Common Stock, all shares of Class B Common Stock are assumed to be converted; therefore, 100% of undistributed earnings is allocated to Common Stock. | ||||||||||||||||
-2 | For purposes of the diluted net income per share computation for Class B Common Stock, weighted average shares of Class B Common Stock are assumed to be outstanding for the entire period and not converted. | ||||||||||||||||
-3 | Denominator for diluted net income per share for Common Stock and Class B Common Stock includes the dilutive effect of shares relative to the Performance Unit Award. |
Supplemental_Disclosures_of_Ca1
Supplemental Disclosures of Cash Flow Information (Tables) | 9 Months Ended | ||||||||
Sep. 29, 2013 | |||||||||
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 Nine Months | |||||||||
In Thousands | 2013 | 2012 | |||||||
Accounts receivable, trade, net | $ | (10,544 | ) | $ | (5,638 | ) | |||
Accounts receivable from The Coca-Cola Company | (9,028 | ) | (11,137 | ) | |||||
Accounts receivable, other | (1,650 | ) | 2,291 | ||||||
Inventories | (4,331 | ) | (8,334 | ) | |||||
Prepaid expenses and other current assets | 802 | 1,405 | |||||||
Accounts payable, trade | 7,085 | 7,120 | |||||||
Accounts payable to The Coca-Cola Company | 15,533 | 7,881 | |||||||
Other accrued liabilities | (1,255 | ) | 8,723 | ||||||
Accrued compensation | (6,298 | ) | (4,885 | ) | |||||
Accrued interest payable | 5,320 | 6,673 | |||||||
(Increase) decrease in current assets less current liabilities | $ | (4,366 | ) | $ | 4,099 | ||||
Significant_Accounting_Policie3
Significant Accounting Policies - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Sep. 29, 2013 |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization And Other Non Cash Items [Abstract] | ' |
Out-of-period adjustment for reimbursements received for net price reductions to certain customers | $1.30 |
Significant_Accounting_Policie4
Significant Accounting Policies - Revision of Prior Period Financial Statements (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jan. 01, 2012 |
In Thousands, unless otherwise specified | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' |
Deferred income taxes | $142,795 | $140,965 | $145,384 | ' |
Total liabilities | 1,083,534 | 1,084,036 | 1,177,200 | ' |
Retained earnings | 195,766 | 170,439 | 170,920 | ' |
Total equity of Coca-Cola Bottling Co. Consolidated | 164,014 | 135,259 | 151,061 | ' |
Total equity | 231,821 | 199,438 | 213,816 | 189,407 |
As Previously Reported [Member] | ' | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' |
Deferred income taxes | ' | ' | 143,553 | ' |
Total liabilities | ' | ' | 1,175,369 | ' |
Retained earnings | ' | ' | 172,751 | ' |
Total equity of Coca-Cola Bottling Co. Consolidated | ' | ' | 152,892 | ' |
Total equity | ' | ' | 215,647 | ' |
Adjustment [Member] | ' | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' |
Deferred income taxes | ' | ' | 1,831 | ' |
Total liabilities | ' | ' | 1,831 | ' |
Retained earnings | ' | ' | -1,831 | ' |
Total equity of Coca-Cola Bottling Co. Consolidated | ' | ' | -1,831 | ' |
Total equity | ' | ' | -1,831 | ' |
As Revised [Member] | ' | ' | ' | ' |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ' | ' | ' | ' |
Deferred income taxes | ' | ' | 145,384 | ' |
Total liabilities | ' | ' | 1,177,200 | ' |
Retained earnings | ' | ' | 170,920 | ' |
Total equity of Coca-Cola Bottling Co. Consolidated | ' | ' | 151,061 | ' |
Total equity | ' | ' | $213,816 | ' |
Piedmont_CocaCola_Bottling_Par1
Piedmont Coca-Cola Bottling Partnership - Additional Information (Detail) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
Noncontrolling Interest [Abstract] | ' | ' | ' |
Minority interest | 22.70% | 22.70% | 22.70% |
Inventories_Summary_of_Invento
Inventories - Summary of Inventories (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Inventory Disclosure [Abstract] | ' | ' | ' |
Finished products | $42,695 | $36,445 | $43,809 |
Manufacturing materials | 8,594 | 11,019 | 10,014 |
Plastic shells, plastic pallets and other inventories | 18,966 | 18,460 | 20,669 |
Total inventories | $70,255 | $65,924 | $74,492 |
Property_Plant_and_Equipment_P
Property, Plant and Equipment - Principal Categories and Estimated Useful Lives of Property, Plant and Equipment (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | Land [Member] | Land [Member] | Land [Member] | Buildings [Member] | Buildings [Member] | Buildings [Member] | Buildings [Member] | Buildings [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Machinery and Equipment [Member] | Transportation Equipment [Member] | Transportation Equipment [Member] | Transportation Equipment [Member] | Transportation Equipment [Member] | Transportation Equipment [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Furniture and Fixtures [Member] | Cold Drink Dispensing Equipment [Member] | Cold Drink Dispensing Equipment [Member] | Cold Drink Dispensing Equipment [Member] | Cold Drink Dispensing Equipment [Member] | Cold Drink Dispensing Equipment [Member] | Leasehold and Land Improvements [Member] | Leasehold and Land Improvements [Member] | Leasehold and Land Improvements [Member] | Leasehold and Land Improvements [Member] | Leasehold and Land Improvements [Member] | Software for Internal Use [Member] | Software for Internal Use [Member] | Software for Internal Use [Member] | Software for Internal Use [Member] | Software for Internal Use [Member] | Construction in Progress [Member] | Construction in Progress [Member] | Construction in Progress [Member] | |||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | |||||||||||||||||||||||||||||||
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total property, plant and equipment, at cost | $946,247 | $947,117 | $928,716 | $12,307 | $12,442 | $12,443 | $113,032 | $118,556 | $118,096 | ' | ' | $143,518 | $140,963 | $134,808 | ' | ' | $159,012 | $163,586 | $157,006 | ' | ' | $42,403 | $41,580 | $40,126 | ' | ' | $319,767 | $314,863 | $312,280 | ' | ' | $72,632 | $71,956 | $77,425 | ' | ' | $80,310 | $74,907 | $72,858 | ' | ' | $3,266 | $8,264 | $3,674 |
Less: Accumulated depreciation and amortization | 651,100 | 639,650 | 636,948 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, net | $295,147 | $307,467 | $291,768 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property, plant and equipment, estimated useful lives | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 years | '50 years | ' | ' | ' | '5 years | '20 years | ' | ' | ' | '4 years | '20 years | ' | ' | ' | '3 years | '10 years | ' | ' | ' | '5 years | '17 years | ' | ' | ' | '5 years | '20 years | ' | ' | ' | '3 years | '10 years | ' | ' | ' |
Property_Plant_and_Equipment_A
Property, Plant and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Sep. 29, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Depreciation and amortization expense | $14.80 | ' | $15.20 | $43.70 | $46.10 |
Gain on sale of distribution facility | ' | 1.2 | ' | ' | ' |
Depreciation expense reduction due to change in useful lives | $0.40 | ' | ' | $1.30 | ' |
Common Stock [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Change to earnings per share basic for depreciation expense reduction from change in useful lives | $0.03 | ' | ' | $0.09 | ' |
Change to earnings per share diluted for depreciation expense reduction from change in useful lives | $0.03 | ' | ' | $0.08 | ' |
Class B Common Stock [Member] | ' | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' | ' |
Change to earnings per share basic for depreciation expense reduction from change in useful lives | $0.03 | ' | ' | $0.09 | ' |
Change to earnings per share diluted for depreciation expense reduction from change in useful lives | $0.03 | ' | ' | $0.08 | ' |
Leased_Property_Under_Capital_2
Leased Property Under Capital Leases - Leased Property Under Capital Leases (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 |
In Thousands, unless otherwise specified | Minimum [Member] | Maximum [Member] | |||
Capital Leased Assets [Line Items] | ' | ' | ' | ' | ' |
Leased property under capital leases | $94,629 | $94,180 | $94,180 | ' | ' |
Less: Accumulated amortization | 44,417 | 40,030 | 38,579 | ' | ' |
Leased property under capital leases, net | $50,212 | $54,150 | $55,601 | ' | ' |
Leased property under capital leases, Estimated Useful Lives | ' | ' | ' | '3 years | '20 years |
Leased_Property_Under_Capital_3
Leased Property Under Capital Leases - Additional Information (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Millions, unless otherwise specified | |||
Leases [Abstract] | ' | ' | ' |
Real estate leased under capital leases | $49.60 | ' | ' |
Real estate leased from related parties | 33.4 | ' | ' |
Company's outstanding obligations for capital leases | $66.10 | $69.60 | $70.80 |
Franchise_Rights_and_Goodwill_
Franchise Rights and Goodwill - Additional Information (Detail) (USD $) | 9 Months Ended | |
Sep. 29, 2013 | Sep. 30, 2012 | |
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ' |
Impairment of the carrying value of franchise rights and goodwill | $0 | ' |
Activity for franchise rights or goodwill | $0 | $0 |
Other_Identifiable_Intangible_2
Other Identifiable Intangible Assets - Other Identifiable Intangible Assets (Detail) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
Finite Lived Intangible Assets Gross [Abstract] | ' | ' | ' |
Other identifiable intangible assets | $8,547 | $8,557 | $8,557 |
Less: Accumulated amortization | 4,783 | 4,534 | 4,430 |
Other identifiable intangible assets, net | $3,764 | $4,023 | $4,127 |
Other identifiable intangible assets, Estimated Useful Lives | '20 years | ' | ' |
Other_Accrued_Liabilities_Summ
Other Accrued Liabilities - Summary of Other Accrued Liabilities (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Payables And Accruals [Abstract] | ' | ' | ' |
Accrued marketing costs | $12,463 | $12,506 | $12,918 |
Accrued insurance costs | 21,571 | 21,458 | 21,629 |
Accrued taxes (other than income taxes) | 4,192 | 1,910 | 1,827 |
Accrued income taxes | 0 | 0 | 5,500 |
Employee benefit plan accruals | 16,754 | 16,988 | 17,294 |
Checks and transfers yet to be presented for payment from zero balance cash accounts | 9,999 | 11,962 | 9,491 |
All other accrued liabilities | 8,879 | 10,289 | 8,241 |
Total other accrued liabilities | $73,858 | $75,113 | $76,900 |
Debt_Summary_of_Debt_Detail
Debt - Summary of Debt (Detail) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2019 | ' | ' |
Total debt | $20,000 | $30,000 | $0 |
Total debt | 20,000 | 20,000 | 0 |
Total debt | 413,520 | 423,386 | 523,344 |
Less: Current portion of debt | 20,000 | 20,000 | 120,000 |
Long-term debt | 393,520 | 403,386 | 403,344 |
Revolving Credit Facility [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2016 | ' | ' |
Interest Rate, Term | 'Variable | ' | ' |
Interest Paid | 'Varies | ' | ' |
Total debt | 20,000 | 30,000 | 0 |
Line of Credit [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2013 | ' | ' |
Interest Rate, Term | 'Variable | ' | ' |
Interest Paid | 'Varies | ' | ' |
Total debt | 20,000 | 20,000 | 0 |
5.00% Senior Notes 2012 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2012 | ' | ' |
Interest Rate | 5.00% | ' | ' |
Interest Paid | 'Semi-annually | ' | ' |
Total debt | 0 | 0 | 150,000 |
5.30% Senior Notes 2015 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2015 | ' | ' |
Interest Rate | 5.30% | ' | ' |
Interest Paid | 'Semi-annually | ' | ' |
Total debt | 100,000 | 100,000 | 100,000 |
5.00% Senior Notes 2016 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2016 | ' | ' |
Interest Rate | 5.00% | ' | ' |
Interest Paid | 'Semi-annually | ' | ' |
Total debt | 164,757 | 164,757 | 164,757 |
7.00% Senior Notes 2019 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Maturity | '2019 | ' | ' |
Interest Rate | 7.00% | ' | ' |
Interest Paid | 'Semi-annually | ' | ' |
Total debt | 110,000 | 110,000 | 110,000 |
Unamortized discount on Senior Notes | ($1,237) | ($1,371) | ($1,413) |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 3 Months Ended | |||||
Sep. 21, 2011 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 04, 2013 | Dec. 30, 2012 | Feb. 10, 2010 | Sep. 29, 2013 | Sep. 29, 2013 | |
Minimum [Member] | Maximum [Member] | |||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured revolving credit agreement | $200,000,000 | $200,000,000 | ' | $200,000,000 | ' | ' | ' | ' |
Period of Unsecured revolving credit agreement | '5 years | ' | ' | ' | ' | ' | ' | ' |
Maturity date of unsecured revolving credit agreement | 21-Sep-16 | 21-Sep-16 | ' | ' | ' | ' | ' | ' |
Amount available for issuance of letters of credit from revolving credit facility | ' | 25,000,000 | ' | ' | ' | ' | ' | ' |
Annual facility fee | ' | 0.18% | ' | ' | ' | ' | ' | ' |
Fixed charges ratio | ' | ' | ' | ' | ' | ' | 1.5 | ' |
Operating cash flow ratio | ' | ' | ' | ' | ' | ' | ' | 6 |
Maximum non-cash charge excluded from covenant calculation per amendment to the unsecured revolving credit agreement | ' | ' | ' | ' | ' | ' | ' | 12,000,000 |
Outstanding borrowings on unsecured revolving credit agreement | ' | 20,000,000 | 0 | ' | 30,000,000 | ' | ' | ' |
Available to meet its cash requirements under revolving credit facility | ' | 180,000,000 | ' | ' | ' | ' | ' | ' |
Uncommitted Line of Credit Agreement | ' | ' | ' | ' | ' | 20,000,000 | ' | ' |
Uncommitted line of credit initiation date | ' | 10-Feb-10 | ' | ' | ' | ' | ' | ' |
Uncommitted line of credit period 1 | ' | '7 days | ' | ' | ' | ' | ' | ' |
Uncommitted line of credit period 2 | ' | '30 days | ' | ' | ' | ' | ' | ' |
Uncommitted line of credit period 3 | ' | '60 days | ' | ' | ' | ' | ' | ' |
Uncommitted line of credit period 4 | ' | '90 days | ' | ' | ' | ' | ' | ' |
Outstanding borrowing on uncommitted line of credit | ' | 20,000,000 | 0 | ' | 20,000,000 | ' | ' | ' |
Uncommitted line of credit, weighted average interest rate | ' | 0.93% | ' | ' | 0.94% | ' | ' | ' |
Senior notes maturity prior year | ' | ' | ' | ' | 150,000,000 | ' | ' | ' |
Maturity date of long-term debt maturing prior year | ' | ' | ' | ' | '2012-11 | ' | ' | ' |
Weighted average interest rate on debt and capital lease obligations spot rate | ' | 6.10% | 6.10% | ' | 5.90% | ' | ' | ' |
Overall weighted average interest rate on debt and capital lease obligations | ' | 5.80% | 6.10% | ' | ' | ' | ' | ' |
Debt and capital lease obligations subject to changes in short-term interest rates | ' | 40,000,000 | ' | ' | ' | ' | ' | ' |
Debt and capital lease obligations | ' | 479,600,000 | ' | ' | ' | ' | ' | ' |
Debt issued by subsidiaries | ' | 0 | ' | ' | ' | ' | ' | ' |
Guarantees of company debt | ' | $0 | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Additional Information (Detail) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
Contract | Contract | Contract | |
Offsetting [Abstract] | ' | ' | ' |
Outstanding interest rate derivative contracts | 0 | 0 | 0 |
Number of offsetting derivative transactions with counterparties | ' | 0 | 0 |
Number of outstanding derivative transactions | 0 | ' | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments - Summary of Pre-Tax Changes in Fair Value (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total | $0 | $1,037 | ($500) | $1,037 |
Commodity Hedging Agreements [Member] | Cost of Sales [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Total | $0 | $1,037 | ($500) | $1,037 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments - Summary of Fair Values and Classification in Consolidated Balance Sheets of Derivative Instruments (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Total | $0 | $1,062 | $1,599 |
Commodity Hedging Agreements Fair Market Value [Member] | Prepaid Expenses and Other Current Assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Total | 0 | 500 | 1,037 |
Commodity Hedging Agreements Unamortized Cost [Member] | Prepaid Expenses and Other Current Assets [Member] | ' | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' | ' |
Total | $0 | $562 | $562 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments - Derivative Financial Instruments (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Carrying Amount [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Public debt securities | ($373,520) | ($373,386) | ($523,344) |
Deferred compensation plan assets | 15,875 | 13,011 | 12,854 |
Deferred compensation plan liabilities | -15,875 | -13,011 | -12,854 |
Non-public variable rate debt | -40,000 | -50,000 | 0 |
Carrying Amount [Member] | Commodity Hedging Agreements [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Commodity hedging agreements | 0 | 500 | 1,037 |
Fair Value [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Public debt securities | -411,197 | -426,050 | -577,775 |
Deferred compensation plan assets | 15,875 | 13,011 | 12,854 |
Deferred compensation plan liabilities | -15,875 | -13,011 | -12,854 |
Non-public variable rate debt | -40,000 | -50,000 | 0 |
Fair Value [Member] | Commodity Hedging Agreements [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Commodity hedging agreements | $0 | $500 | $1,037 |
Fair_Value_of_Financial_Instru3
Fair Value of Financial Instruments - Deferred Compensation Plan, Commodity Hedging Agreements (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Level 1 [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Deferred compensation plan assets | $15,875 | $13,011 | $12,854 |
Liabilities | ' | ' | ' |
Deferred compensation plan liabilities | 15,875 | 13,011 | 12,854 |
Level 2 [Member] | Commodity Hedging Agreements [Member] | ' | ' | ' |
Assets | ' | ' | ' |
Commodity hedging agreements | $0 | $500 | $1,037 |
Fair_Value_of_Financial_Instru4
Fair Value of Financial Instruments - Additional Information (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Transfers of assets between level 1 to level 2 | $0 | ' | $0 |
Transfers of liabilities between level 1 to level 2 | 0 | ' | 0 |
Level 3 [Member] | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' |
Level 3 Assets | 0 | 0 | 0 |
Level 3 Liabilities | $0 | $0 | $0 |
Other_Liabilities_Summary_of_O
Other Liabilities - Summary of Other Liabilities (Detail) (USD $) | Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 |
In Thousands, unless otherwise specified | |||
Other Liabilities Disclosure [Abstract] | ' | ' | ' |
Accruals for executive benefit plans | $106,370 | $101,220 | $99,568 |
Other | 16,838 | 17,083 | 17,020 |
Total other liabilities | $123,208 | $118,303 | $116,588 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 9 Months Ended | |||||
Sep. 29, 2013 | Dec. 30, 2012 | Sep. 30, 2012 | Jul. 03, 2011 | Jul. 04, 2010 | Jul. 28, 2009 | |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Related party debt guarantee | $33,500,000 | $35,900,000 | $36,600,000 | ' | ' | ' |
Holding of collateral against guarantee given | 0 | ' | ' | ' | ' | ' |
Letters of credit totaled | 23,100,000 | ' | ' | ' | ' | ' |
Restricted cash for letters of credit | ' | ' | ' | 3,000,000 | 3,500,000 | 4,500,000 |
Contractual arrangements | 40,700,000 | ' | ' | ' | ' | ' |
Contractual arrangements, expiration year | '2022 | ' | ' | ' | ' | ' |
SAC [Member] | ' | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Cases of finished product obligated to purchase on an annual basis | 17,500,000 | ' | ' | ' | ' | ' |
Maximum aggregate exposure of debt guarantees | 23,900,000 | ' | ' | ' | ' | ' |
Maximum Aggregate Exposure of Debt Guarantees and Equity Investment | 28,000,000 | ' | ' | ' | ' | ' |
Number of years reporting entity purchasing finished products | 'More than ten years | ' | ' | ' | ' | ' |
Assets of guarantee | 41,000,000 | ' | ' | ' | ' | ' |
Debt of guarantee | 22,000,000 | ' | ' | ' | ' | ' |
Revenues of guarantee | 138,000,000 | ' | ' | ' | ' | ' |
Southeastern [Member] | ' | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Purchase requirements of plastic bottles | 80.00% | ' | ' | ' | ' | ' |
Maximum aggregate exposure of debt guarantees | 25,300,000 | ' | ' | ' | ' | ' |
Maximum Aggregate Exposure of Debt Guarantees and Equity Investment | 46,100,000 | ' | ' | ' | ' | ' |
Number of years reporting entity purchasing plastic bottles | 'More than ten years | ' | ' | ' | ' | ' |
Assets of guarantee | 348,000,000 | ' | ' | ' | ' | ' |
Debt of guarantee | 139,000,000 | ' | ' | ' | ' | ' |
Revenues of guarantee | $525,000,000 | ' | ' | ' | ' | ' |
SAC and Southeastern [Member] | ' | ' | ' | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' |
Latest guarantee, expiration date | '2023 | ' | ' | ' | ' | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Dec. 30, 2012 |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Tax rate | ' | ' | 28.80% | 40.50% | ' |
Effective income tax rate | ' | ' | 31.10% | 43.10% | ' |
Uncertain tax positions | $2.80 | $5.10 | $2.80 | $5.10 | $5.50 |
Uncertain tax positions that would affect tax rate | 2.8 | 2.6 | 2.8 | 2.6 | 3 |
Time period that uncertain tax positions not expected to materially change | ' | ' | '12 months | ' | ' |
Reduction of liability for uncertain tax positions | 3.4 | 0.2 | ' | ' | ' |
Decrease in income tax expense | 0.9 | 0.2 | ' | ' | ' |
Accrued interest related to uncertain tax positions | 0.2 | 0.5 | 0.2 | 0.5 | 0.5 |
Interest expense | ' | ' | -0.3 | 0.1 | ' |
Credit to income tax expense | ' | ' | 0.4 | ' | ' |
Decrease in corporate income tax expense due to state tax rate change | 2.3 | ' | ' | ' | ' |
Increase in valuation allowance | ' | ' | ' | $1.20 | ' |
State [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
State previous tax rate | 6.90% | ' | ' | ' | ' |
State current tax rate after reduction | 6.00% | ' | ' | ' | ' |
Tax rate after further reduction | 5.00% | ' | ' | ' | ' |
Internal Revenue Service (IRS) [Member] | Minimum [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Tax year open for examination | ' | ' | '2010 | ' | ' |
State Jurisdiction [Member] | Minimum [Member] | ' | ' | ' | ' | ' |
Income Tax [Line Items] | ' | ' | ' | ' | ' |
Tax year open for examination | ' | ' | '1995 | ' | ' |
Income_Taxes_Reconciliation_of
Income Taxes - Reconciliation of Income Tax Expense at Statutory Federal Rate to Actual Income Tax Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' |
Statutory expense | ' | ' | $17,653 | $16,603 |
State income taxes, net of federal benefit | ' | ' | 2,093 | 2,052 |
Valuation allowance change | ' | ' | -1 | 1,172 |
Noncontrolling interest - Piedmont | ' | ' | -1,348 | -1,324 |
Manufacturing deduction benefit | ' | ' | -1,678 | -1,412 |
Meals and entertainment | ' | ' | 1,070 | 1,024 |
Adjustment for uncertain tax positions | ' | ' | -223 | 378 |
Adjustment for state tax legislation | ' | ' | -2,261 | 0 |
Other, net | ' | ' | -755 | 735 |
Income tax expense | $4,756 | $7,191 | $14,550 | $19,228 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning, balance | ($93,110) | ($79,689) | ($94,526) | ($80,820) |
Pre-tax Activity | 1,163 | 932 | 3,492 | 2,796 |
Tax Effect | -449 | -367 | -1,362 | -1,100 |
Ending, balance | -92,396 | -79,124 | -92,396 | -79,124 |
Net Pension Activity [Member] | Actuarial Loss [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning, balance | -75,388 | -63,948 | -76,407 | -64,789 |
Pre-tax Activity | 837 | 693 | 2,513 | 2,080 |
Tax Effect | -323 | -272 | -980 | -818 |
Ending, balance | -74,874 | -63,527 | -74,874 | -63,527 |
Net Pension Activity [Member] | Prior Service Costs [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning, balance | -28 | -38 | -33 | -44 |
Pre-tax Activity | 4 | 5 | 12 | 15 |
Tax Effect | -2 | -2 | -5 | -6 |
Ending, balance | -26 | -35 | -26 | -35 |
Net Postretirement Benefits Activity [Member] | Actuarial Loss [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning, balance | -21,574 | -20,501 | -22,425 | -21,244 |
Pre-tax Activity | 700 | 613 | 2,100 | 1,838 |
Tax Effect | -270 | -241 | -819 | -723 |
Ending, balance | -21,144 | -20,129 | -21,144 | -20,129 |
Net Postretirement Benefits Activity [Member] | Prior Service Costs [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning, balance | 3,874 | 4,792 | 4,334 | 5,251 |
Pre-tax Activity | -377 | -379 | -1,133 | -1,137 |
Tax Effect | 146 | 148 | 442 | 447 |
Ending, balance | 3,643 | 4,561 | 3,643 | 4,561 |
Foreign Currency Translation Adjustment [Member] | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Beginning, balance | 6 | 6 | 5 | 6 |
Pre-tax Activity | -1 | 0 | 0 | 0 |
Tax Effect | 0 | 0 | 0 | 0 |
Ending, balance | $5 | $6 | $5 | $6 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss - Summary of Impact of Accumulated Other Comprehensive Income Loss on Income Statement (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | $1,164 | $932 | $3,492 | $2,796 |
Income tax expense | 449 | 367 | 1,362 | 1,100 |
Total after tax effect | 715 | 565 | 2,130 | 1,696 |
Cost of Sales [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 118 | 105 | 343 | 314 |
S,D&A Expenses [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 1,046 | 827 | 3,149 | 2,482 |
Pension Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 841 | 698 | 2,525 | 2,095 |
Income tax expense | 325 | 274 | 985 | 824 |
Total after tax effect | 516 | 424 | 1,540 | 1,271 |
Pension Plans [Member] | Cost of Sales [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 76 | 77 | 227 | 230 |
Pension Plans [Member] | S,D&A Expenses [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 765 | 621 | 2,298 | 1,865 |
Postretirement Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 323 | 234 | 967 | 701 |
Income tax expense | 124 | 93 | 377 | 276 |
Total after tax effect | 199 | 141 | 590 | 425 |
Postretirement Benefits [Member] | Cost of Sales [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | 42 | 28 | 116 | 84 |
Postretirement Benefits [Member] | S,D&A Expenses [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Subtotal pre-tax | $281 | $206 | $851 | $617 |
Capital_Transactions_Additiona
Capital Transactions - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
In Millions, except Share data, unless otherwise specified | Apr. 29, 2008 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 27, 2013 | Sep. 28, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Mar. 05, 2013 | Mar. 06, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Apr. 29, 2008 | Apr. 29, 2008 |
Stock | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | Class B Common Stock [Member] | Performance Shares [Member] | |||||
Vote | Vote | ||||||||||||||||
Schedule of Capitalization, Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common class of stock outstanding | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend is declared and paid on the Common Stock | ' | ' | ' | ' | ' | $0.25 | $0.25 | $0.75 | $0.75 | ' | ' | $0.25 | $0.25 | $0.75 | $0.75 | ' | ' |
Number of votes per share | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | 20 | ' | ' | ' |
Performance units authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Common B stock per performance unit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' |
Term of performance unit award agreement | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Performance units granted annually | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | ' |
Maximum goal achievement percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' |
Performance units awarded | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,000 | 40,000 | ' | ' | ' | ' | ' | ' |
Performance units awards settled in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,880 | 17,680 | ' | ' |
Increase in total number of shares outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,120 | 22,320 | ' | ' |
Performance Unit Award Agreement costs recognized | ' | $1.90 | $2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share price | ' | ' | ' | $63.36 | $68.10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Benefit_Plans_Net_Periodic_Pen
Benefit Plans - Net Periodic Pension Cost (Detail) (Pension Plans [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Pension Plans [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service cost | $32 | $28 | $96 | $83 |
Interest cost | 3,086 | 3,124 | 9,258 | 9,371 |
Expected return on plan assets | -3,546 | -2,973 | -10,640 | -8,918 |
Amortization of prior service cost | 4 | 5 | 12 | 15 |
Recognized net actuarial loss | 837 | 693 | 2,513 | 2,080 |
Net periodic pension cost | $413 | $877 | $1,239 | $2,631 |
Benefit_Plans_Additional_Infor
Benefit Plans - Additional Information (Detail) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Sep. 29, 2013 | Dec. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 30, 2012 | Dec. 30, 2012 |
Pension_Plan | Scenario, Forecast [Member] | Minimum [Member] | Maximum [Member] | 401(k) Savings Plan [Member] | 401(k) Savings Plan [Member] | 401(k) Savings Plan [Member] | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Entity contribution in its owned sponsored pension plan during the period | $0.10 | ' | ' | ' | ' | ' | ' |
Number of sponsored pension plans | 2 | ' | ' | ' | ' | ' | ' |
Anticipated employer contributions to pension plan for the remainder of fiscal year | ' | ' | 2 | 3 | ' | ' | ' |
Approximate non-cash charge due to lump sum distribution | ' | 12 | ' | ' | ' | ' | ' |
Company discretionary matching contribution percentage | ' | ' | ' | ' | ' | 5.00% | 5.00% |
Defined contribution plan matching contribution percentage accrued | ' | ' | ' | ' | 5.00% | 5.00% | 5.00% |
Cost recognized | ' | ' | ' | ' | 5.8 | 6.4 | ' |
Multi-employer pension plan exit charge, liability recorded | 9.4 | ' | ' | ' | ' | ' | ' |
Multi-employer pension plan exit annual payment amount | $1 | ' | ' | ' | ' | ' | ' |
Benefit_Plans_Components_of_Ne
Benefit Plans - Components of Net Periodic Postretirement Benefit Cost (Detail) (Postretirement Benefits [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Postretirement Benefits [Member] | ' | ' | ' | ' |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | ' | ' | ' | ' |
Service cost | $412 | $316 | $1,238 | $948 |
Interest cost | 715 | 781 | 2,145 | 2,344 |
Recognized net actuarial loss | 700 | 613 | 2,100 | 1,838 |
Amortization of prior service cost | -377 | -379 | -1,133 | -1,137 |
Net periodic postretirement benefit cost | $1,450 | $1,331 | $4,350 | $3,993 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 29, 2013 | Sep. 30, 2012 | Dec. 30, 2012 | |
Entity | |||
Related Party Transaction [Line Items] | ' | ' | ' |
Percentage of interest held in common stock by The Coca-Cola Company | 34.80% | ' | ' |
Voting power of stock held by The Coca-Cola Company | 5.00% | ' | ' |
Purchases from related party | $309,900,000 | $313,900,000 | ' |
Accounts receivable related party | 24,549,000 | 20,437,000 | 15,521,000 |
Amount of debt portion guaranteed | 33,500,000 | 36,600,000 | 35,900,000 |
Number of entities in which reporting entity is shareholder and purchases majority plastic bottles | 2 | ' | ' |
Collateral assets against SAC or Southeastern guarantees | 0 | ' | ' |
Impairment of investments in cooperatives | 0 | ' | 0 |
Principal balance outstanding under capital lease | 66,100,000 | 70,800,000 | 69,600,000 |
CCR [Member] | Production Agreement [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Sales to related parties | 45,400,000 | 49,200,000 | ' |
Purchases from related party | 34,900,000 | 23,300,000 | ' |
CCR [Member] | Tum-E Yummies [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Sales to related parties | 19,300,000 | 18,300,000 | ' |
CCBSS [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Payments to CCBSS as administration fees for its services | 300,000 | 300,000 | ' |
Accounts receivable related party | 5,000,000 | 4,000,000 | 3,800,000 |
Southeastern [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Purchases from related party | 60,400,000 | 63,300,000 | ' |
Amount of debt portion guaranteed | 11,600,000 | ' | ' |
Equity Investment | 20,800,000 | 19,500,000 | 19,500,000 |
Beacon [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Lease expires | 31-Dec-21 | ' | ' |
Principal balance outstanding under capital lease | 23,500,000 | 25,600,000 | 25,100,000 |
Beacon [Member] | Capital Lease [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Rental payments related to the lease | 3,100,000 | 3,000,000 | ' |
SAC [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Purchases from related party | 104,700,000 | 106,900,000 | ' |
Management fees earned from SAC | 1,200,000 | 1,100,000 | ' |
Amount of debt portion guaranteed | 21,900,000 | ' | ' |
Equity Investment | 4,100,000 | 4,100,000 | 4,100,000 |
HLP, SPC & Adjacent Sales Facility [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Lease expires | 31-Dec-20 | ' | ' |
Principal balance outstanding under capital lease | 22,700,000 | 24,600,000 | 24,100,000 |
HLP, SPC & Adjacent Sales Facility [Member] | Capital Lease [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Rental payments related to the lease | $2,700,000 | $2,600,000 | ' |
Related_Party_Transactions_Sum
Related Party Transactions - Summary of Significant Transactions between Company and Coca-Cola Company (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Related Party Transactions [Abstract] | ' | ' |
Payments by the Company for concentrate, syrup, sweetener and other purchases | $309.90 | $313.90 |
Marketing funding support payments to the Company | 32.6 | 33.1 |
Payments by the Company net of marketing funding support | 277.3 | 280.8 |
Payments by the Company for customer marketing programs | 43.2 | 43.1 |
Payments by the Company for cold drink equipment parts | 6.9 | 7.1 |
Fountain delivery and equipment repair fees paid to the Company | 9.4 | 9.1 |
Presence marketing funding support provided by The Coca-Cola Company on the Company's behalf | 4 | 2.6 |
Payments to the Company to facilitate the distribution of certain brands and packages to other Coca-Cola bottlers | $3 | $2.10 |
Net_Sales_by_Product_Category_1
Net Sales by Product Category - Net Sales by Product Category (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | $434,464 | $419,855 | $1,246,994 | $1,227,733 |
Bottle/Can Sales [Member] | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 347,241 | 339,535 | 994,623 | 995,707 |
Bottle/Can Sales [Member] | Sparkling Beverages (Including Energy Products) [Member] | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 273,905 | 271,279 | 798,271 | 809,640 |
Bottle/Can Sales [Member] | Still Beverages [Member] | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 73,336 | 68,256 | 196,352 | 186,067 |
Other Sales [Member] | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 87,223 | 80,320 | 252,371 | 232,026 |
Other Sales [Member] | Sales to Other Coca-Cola Bottlers [Member] | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | 42,030 | 39,160 | 126,621 | 111,855 |
Other Sales [Member] | Post-Mix and Other [Member] | ' | ' | ' | ' |
Product Information [Line Items] | ' | ' | ' | ' |
Net sales | $45,193 | $41,160 | $125,750 | $120,171 |
Net_Income_Per_Share_Computati
Net Income Per Share - Computation of Basic Net Income Per Share and Diluted Net Income Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 |
Numerator for basic and diluted net income per Common Stock and Class B Common Stock share: | ' | ' | ' | ' |
Net income attributable to Coca-Cola Bottling Co. Consolidated | $16,169 | $10,079 | $32,260 | $25,391 |
Less dividends: | ' | ' | ' | ' |
Undistributed earnings allocated to Common Stock, Basic | 13,857 | 7,772 | 25,327 | 18,474 |
Total undistributed earnings - diluted | 13,857 | 7,772 | 25,327 | 18,474 |
Common Stock [Member] | ' | ' | ' | ' |
Less dividends: | ' | ' | ' | ' |
Dividends on Common Stock | 1,785 | 1,785 | 5,356 | 5,356 |
Undistributed earnings allocated to Common Stock, Basic | 10,698 | 6,013 | 19,563 | 14,301 |
Total undistributed earnings - diluted | 10,652 | 5,987 | 19,479 | 14,239 |
Numerator for basic net income per Common Stock share: | ' | ' | ' | ' |
Numerator for basic net income per Common Stock share | 12,483 | 7,798 | 24,919 | 19,657 |
Numerator for diluted net income per Common Stock share: | ' | ' | ' | ' |
Numerator for diluted net income per Common Stock share | 16,169 | 10,079 | 32,260 | 25,391 |
Denominator for basic net income per common share: | ' | ' | ' | ' |
Weighted average number of Common Stock shares outstanding | 7,141 | 7,141 | 7,141 | 7,141 |
Denominator for diluted net income per common share: | ' | ' | ' | ' |
Weighted average number of Common Stock shares outstanding - assuming dilution | 9,290 | 9,270 | 9,285 | 9,265 |
Basic net income per share: | ' | ' | ' | ' |
Common Stock | $1.75 | $1.09 | $3.49 | $2.75 |
Diluted net income per share: | ' | ' | ' | ' |
Common Stock | $1.74 | $1.09 | $3.47 | $2.74 |
Class B Common Stock [Member] | ' | ' | ' | ' |
Less dividends: | ' | ' | ' | ' |
Dividends on Common Stock | 527 | 522 | 1,577 | 1,561 |
Undistributed earnings allocated to Common Stock, Basic | 3,159 | 1,759 | 5,764 | 4,173 |
Total undistributed earnings - diluted | 3,205 | 1,785 | 5,848 | 4,235 |
Numerator for basic net income per Common Stock share: | ' | ' | ' | ' |
Numerator for basic net income per Common Stock share | 3,686 | 2,281 | 7,341 | 5,734 |
Numerator for diluted net income per Common Stock share: | ' | ' | ' | ' |
Numerator for diluted net income per Common Stock share | $3,732 | $2,307 | $7,425 | $5,796 |
Denominator for basic net income per common share: | ' | ' | ' | ' |
Weighted average number of Common Stock shares outstanding | 2,109 | 2,089 | 2,104 | 2,084 |
Denominator for diluted net income per common share: | ' | ' | ' | ' |
Weighted average number of Common Stock shares outstanding - assuming dilution | 2,149 | 2,129 | 2,144 | 2,124 |
Basic net income per share: | ' | ' | ' | ' |
Common Stock | $1.75 | $1.09 | $3.49 | $2.75 |
Diluted net income per share: | ' | ' | ' | ' |
Common Stock | $1.74 | $1.08 | $3.46 | $2.73 |
Net_Income_Per_Share_Computati1
Net Income Per Share - Computation of Basic Net Income Per Share and Diluted Net Income Per Share (Parenthetical) (Detail) | 9 Months Ended | |
Sep. 29, 2013 | Sep. 30, 2012 | |
Earnings Per Share [Abstract] | ' | ' |
Percentage undistributed earnings allocated to common stock diluted | 100.00% | 100.00% |
Risks_and_Uncertainties_Additi
Risks and Uncertainties - Additional Information (Detail) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | |||||||
Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | Sep. 30, 2012 | Sep. 29, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 29, 2013 | Dec. 31, 2013 | Dec. 30, 2012 | Sep. 29, 2013 | Sep. 29, 2013 | |
Customer | Customer | Subsequent Event [Member] | Wal-Mart [Member] | Wal-Mart [Member] | Food Lion [Member] | Food Lion [Member] | Collective Bargaining Agreements [Member] | Collective Bargaining Agreements [Member] | Collective Bargaining Agreements [Member] | Collective Bargaining Arrangements Expired in 2012 [Member] | Collective Bargaining Arrangements Expired in 2013 Quarter 1 [Member] | Collective Bargaining Arrangements Expired in 2013 Q 4 [Member] | |
Supplier | Subsequent Event [Member] | Agreement | Agreement | Agreement | |||||||||
Entity | Scenario, Forecast [Member] | ||||||||||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk percentage of related party products volume to customers | 88.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk percentage of other beverage companies | 12.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Future consumption | 68.00% | 68.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Immediate consumption | 32.00% | 32.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Bottle and can volume to retail customers | ' | ' | ' | 21.00% | 22.00% | 8.00% | 8.00% | ' | ' | ' | ' | ' | ' |
Concentration risk major customer sales | ' | ' | ' | 14.00% | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Number of concentration risk major customers representing more than ten percent of sales | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of domestic supplier of aluminum cans | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of entities in which reporting entity is shareholder and purchases majority plastic bottles | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk percentage of employees covered by collective bargaining agreements | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% | ' | ' | ' | ' |
Concentration of risk number of collective bargaining agreements expired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | 1 |
Concentration risk percentage of employees covered by collective bargaining agreements expiring remainder of year | ' | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration risk percentage of employees covered by collective bargaining agreements under new agreements | ' | ' | ' | ' | ' | ' | ' | 0.30% | ' | 0.40% | ' | ' | ' |
Supplemental_Disclosures_of_Ca2
Supplemental Disclosures of Cash Flow Information - Summary of Changes in Current Assets and Current Liabilities Affecting Cash Flows (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Statement Of Cash Flows [Abstract] | ' | ' |
Accounts receivable, trade, net | ($10,544) | ($5,638) |
Accounts receivable from The Coca-Cola Company | -9,028 | -11,137 |
Accounts receivable, other | -1,650 | 2,291 |
Inventories | -4,331 | -8,334 |
Prepaid expenses and other current assets | 802 | 1,405 |
Accounts payable, trade | 7,085 | 7,120 |
Accounts payable to The Coca-Cola Company | 15,533 | 7,881 |
Other accrued liabilities | -1,255 | 8,723 |
Accrued compensation | -6,298 | -4,885 |
Accrued interest payable | 5,320 | 6,673 |
(Increase) decrease in current assets less current liabilities | ($4,366) | $4,099 |
Supplemental_Disclosures_of_Ca3
Supplemental Disclosures of Cash Flow Information - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 29, 2013 | Sep. 30, 2012 |
Statement Of Cash Flows [Abstract] | ' | ' |
Additions to property, plant and equipment accrued | $2 | $2.20 |