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10-Q Filing

COCA-COLA CONSOLIDATED, INC. CIK: 317540 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0000317540-23-000033
Period End Date 20230331
Filing Date 20230503
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance coke-20230331_htm.xml
Balance Sheet 74 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $197.65M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $289.78M USD Point-in-time
Accounts receivable, trade AccountsReceivableGrossCurrent $555.09M USD Point-in-time
Accounts receivable, trade AccountsReceivableGrossCurrent $532.05M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $17.01M USD Point-in-time
Allowance for doubtful accounts AllowanceForDoubtfulAccountsReceivableCurrent $16.12M USD Point-in-time
Accounts receivable from The Coca-Cola Company AccountsReceivableRelatedPartiesCurrent $35.79M USD Point-in-time
Accounts receivable from The Coca-Cola Company AccountsReceivableRelatedPartiesCurrent $46.59M USD Point-in-time
Accounts receivable, other AccountsAndOtherReceivablesNetCurrent $53.57M USD Point-in-time
Accounts receivable, other AccountsAndOtherReceivablesNetCurrent $54.63M USD Point-in-time
Inventories InventoryNet $337.31M USD Point-in-time
Inventories InventoryNet $347.55M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $88.29M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $94.26M USD Point-in-time
Total current assets AssetsCurrent $1.35B USD Point-in-time
Total current assets AssetsCurrent $1.25B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $1.18B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $1.17B USD Point-in-time
Right-of-use assets - operating leases OperatingLeaseRightOfUseAsset $134.30M USD Point-in-time
Right-of-use assets - operating leases OperatingLeaseRightOfUseAsset $140.59M USD Point-in-time
Leased property under financing leases, net FinanceLeaseRightOfUseAsset $6.02M USD Point-in-time
Leased property under financing leases, net FinanceLeaseRightOfUseAsset $6.43M USD Point-in-time
Other assets OtherAssetsNoncurrent $115.89M USD Point-in-time
Other assets OtherAssetsNoncurrent $125.31M USD Point-in-time
Goodwill Goodwill $165.90M USD Point-in-time
Goodwill Goodwill $165.90M USD Point-in-time
Total assets Assets $3.71B USD Point-in-time
Total assets Assets $3.80B USD Point-in-time
Current portion of obligations under operating leases OperatingLeaseLiabilityCurrent $27.32M USD Point-in-time
Current portion of obligations under operating leases OperatingLeaseLiabilityCurrent $27.64M USD Point-in-time
Current portion of obligations under financing leases FinanceLeaseLiabilityCurrent $2.30M USD Point-in-time
Current portion of obligations under financing leases FinanceLeaseLiabilityCurrent $2.35M USD Point-in-time
Accounts payable, trade AccountsPayableTradeCurrent $351.73M USD Point-in-time
Accounts payable, trade AccountsPayableTradeCurrent $310.44M USD Point-in-time
Accounts payable to The Coca-Cola Company AccountsPayableRelatedPartiesCurrent $162.78M USD Point-in-time
Accounts payable to The Coca-Cola Company AccountsPayableRelatedPartiesCurrent $189.30M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $201.58M USD Point-in-time
Other accrued liabilities AccruedLiabilitiesCurrent $198.30M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $126.92M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $75.75M USD Point-in-time
Accrued interest payable InterestPayableCurrent $5.84M USD Point-in-time
Accrued interest payable InterestPayableCurrent $2.68M USD Point-in-time
Dividends payable DividendsPayableCurrent $32.81M USD Point-in-time
Dividends payable DividendsPayableCurrent - USD Point-in-time
Total current liabilities LiabilitiesCurrent $812.58M USD Point-in-time
Total current liabilities LiabilitiesCurrent $905.16M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $191.20M USD Point-in-time
Deferred income taxes DeferredIncomeTaxLiabilitiesNet $150.22M USD Point-in-time
Pension and postretirement benefit obligations PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $62.85M USD Point-in-time
Pension and postretirement benefit obligations PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $60.32M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $753.36M USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $779.99M USD Point-in-time
Noncurrent portion of obligations under operating leases OperatingLeaseLiabilityNoncurrent $118.76M USD Point-in-time
Noncurrent portion of obligations under operating leases OperatingLeaseLiabilityNoncurrent $113.04M USD Point-in-time
Noncurrent portion of obligations under financing leases FinanceLeaseLiabilityNoncurrent $7.52M USD Point-in-time
Noncurrent portion of obligations under financing leases FinanceLeaseLiabilityNoncurrent $6.92M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $598.82M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $598.86M USD Point-in-time
Total liabilities Liabilities $2.57B USD Point-in-time
Total liabilities Liabilities $2.59B USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Commitments and Contingencies CommitmentsAndContingencies - USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $135.95M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $135.95M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.11B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.23B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-84.84M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-84.10M USD Point-in-time
Total equity StockholdersEquity $1.23B USD Point-in-time
Total equity StockholdersEquity $1.12B USD Point-in-time
Total equity StockholdersEquity $803.65M USD Point-in-time
Total equity StockholdersEquity $711.79M USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $3.71B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $3.80B USD Point-in-time
Income Statement 20 line items
Line Item Tag Value Unit Period
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.40B USD 1 Quarter
Net sales RevenueFromContractWithCustomerExcludingAssessedTax $1.57B USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $896.78M USD 1 Quarter
Cost of sales CostOfGoodsAndServicesSold $947.54M USD 1 Quarter
Gross profit GrossProfit $624.11M USD 1 Quarter
Gross profit GrossProfit $507.58M USD 1 Quarter
Selling, delivery and administrative expenses SellingGeneralAndAdministrativeExpense $418.05M USD 1 Quarter
Selling, delivery and administrative expenses SellingGeneralAndAdministrativeExpense $376.59M USD 1 Quarter
Income from operations OperatingIncomeLoss $130.99M USD 1 Quarter
Income from operations OperatingIncomeLoss $206.05M USD 1 Quarter
Interest expense, net InterestExpense $2.93M USD 1 Quarter
Interest expense, net InterestExpense $7.70M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $-43.92M USD 1 Quarter
Other expense (income), net OtherNonoperatingIncomeExpense $3.28M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $159.20M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $126.56M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $41.08M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $33.17M USD 1 Quarter
Net income NetIncomeLoss $93.39M USD 1 Quarter
Net income NetIncomeLoss $118.13M USD 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $93.39M USD 1 Quarter
Net income NetIncomeLoss $118.13M USD 1 Quarter
Depreciation and amortization expense from property, plant and equipment and financing leases Depreciation $37.36M USD 1 Quarter
Depreciation and amortization expense from property, plant and equipment and financing leases Depreciation $37.60M USD 1 Quarter
Amortization of intangible assets and deferred proceeds, net AmortizationOfIntangibleAssetsAndDeferredProceedsNet $5.91M USD 1 Quarter
Amortization of intangible assets and deferred proceeds, net AmortizationOfIntangibleAssetsAndDeferredProceedsNet $5.91M USD 1 Quarter
Fair value adjustment of acquisition related contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInFairValueOfContingentConsiderationLiability $41.65M USD 1 Quarter
Fair value adjustment of acquisition related contingent consideration BusinessCombinationContingentConsiderationArrangementsChangeInFairValueOfContingentConsiderationLiability $-5.46M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $40.74M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $33.13M USD 1 Quarter
Loss on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-2.39M USD 1 Quarter
Loss on sale of property, plant and equipment GainLossOnSaleOfPropertyPlantEquipment $-439.00K USD 1 Quarter
Amortization of debt costs AmortizationOfFinancingCostsAndDiscounts $249.00K USD 1 Quarter
Amortization of debt costs AmortizationOfFinancingCostsAndDiscounts $246.00K USD 1 Quarter
Change in current assets less current liabilities IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet $49.54M USD 1 Quarter
Change in current assets less current liabilities IncreaseDecreaseInOtherCurrentAssetsAndLiabilitiesNet $32.41M USD 1 Quarter
Change in other noncurrent assets IncreaseDecreaseInOtherNoncurrentAssets $1.43M USD 1 Quarter
Change in other noncurrent assets IncreaseDecreaseInOtherNoncurrentAssets $-8.19M USD 1 Quarter
Change in other noncurrent liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-11.01M USD 1 Quarter
Change in other noncurrent liabilities IncreaseDecreaseInOtherNoncurrentLiabilities $-9.91M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $37.49M USD 1 Quarter
Total adjustments AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities $66.57M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $130.88M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $184.69M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $104.35M USD 1 Quarter
Additions to property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $52.70M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $2.18M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $158.00K USD 1 Quarter
Acquisition of distribution rights PaymentsToAcquireIntangibleAssets - USD 1 Quarter
Acquisition of distribution rights PaymentsToAcquireIntangibleAssets $30.15M USD 1 Quarter
Investment in CONA Services LLC PaymentsToAcquireInterestInSubsidiariesAndAffiliates - USD 1 Quarter
Investment in CONA Services LLC PaymentsToAcquireInterestInSubsidiariesAndAffiliates $197.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-132.52M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-52.54M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $32.81M USD 1 Quarter
Cash dividends paid PaymentsOfDividends $2.34M USD 1 Quarter
Payments of acquisition related contingent consideration PaymentOfContingentConsiderationOfAcquisitions $9.82M USD 1 Quarter
Payments of acquisition related contingent consideration PaymentOfContingentConsiderationOfAcquisitions $6.50M USD 1 Quarter
Payments on financing lease obligations FinanceLeasePrincipalPayments $1.38M USD 1 Quarter
Payments on financing lease obligations FinanceLeasePrincipalPayments $558.00K USD 1 Quarter
Debt issuance fees PaymentsOfDebtIssuanceCosts $48.00K USD 1 Quarter
Debt issuance fees PaymentsOfDebtIssuanceCosts $154.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-40.02M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-13.59M USD 1 Quarter
Net increase (decrease) in cash during period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-15.23M USD 1 Quarter
Net increase (decrease) in cash during period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $92.13M USD 1 Quarter
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $289.78M USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $197.65M USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $142.31M USD Point-in-time
Cash at beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $127.08M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $289.78M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $197.65M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $142.31M USD Point-in-time
Cash at end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations $127.08M USD Point-in-time
Additions to property, plant and equipment accrued and recorded in accounts payable, trade CapitalExpendituresIncurredButNotYetPaid $18.11M USD 1 Quarter
Additions to property, plant and equipment accrued and recorded in accounts payable, trade CapitalExpendituresIncurredButNotYetPaid $12.70M USD 1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $5.05M USD 1 Quarter
Right-of-use assets obtained in exchange for operating lease obligations RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability $723.00K USD 1 Quarter
Reductions to leased property under financing leases ReductionsToLeasedPropertyUnderFinancingLeases $55.47M USD 1 Quarter
Reductions to leased property under financing leases ReductionsToLeasedPropertyUnderFinancingLeases - USD 1 Quarter
Stockholders Equity 14 line items
Line Item Tag Value Unit Period
Shares converted (in shares) ConversionOfStockSharesConverted1 1.23M shares 1 Quarter
Beginning Balance StockholdersEquity $1.23B USD Point-in-time
Beginning Balance StockholdersEquity $1.12B USD Point-in-time
Beginning Balance StockholdersEquity $803.65M USD Point-in-time
Beginning Balance StockholdersEquity $711.79M USD Point-in-time
Net income NetIncomeLoss $93.39M USD 1 Quarter
Net income NetIncomeLoss $118.13M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $815.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $738.00K USD 1 Quarter
Conversion of 1,227,546 shares of Class B Common Stock ConversionOfStockAmountConverted1 - USD 1 Quarter
Ending Balance StockholdersEquity $1.23B USD Point-in-time
Ending Balance StockholdersEquity $1.12B USD Point-in-time
Ending Balance StockholdersEquity $803.65M USD Point-in-time
Ending Balance StockholdersEquity $711.79M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $93.39M USD 1 Quarter
Net income NetIncomeLoss $118.13M USD 1 Quarter
Actuarial gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-735.00K USD 1 Quarter
Actuarial gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-746.00K USD 1 Quarter
Prior service credits OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax $3.00K USD 1 Quarter
Prior service credits OtherComprehensiveIncomeLossAmortizationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetPriorServiceCostCreditNetOfTax - USD 1 Quarter
Actuarial gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOtherPostretirementBenefitPlansForNetGainLossNetOfTax $69.00K USD 1 Quarter
Actuarial gain OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOtherPostretirementBenefitPlansForNetGainLossNetOfTax - USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $815.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $738.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $94.20M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $118.86M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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