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Related Party Transactions (Tables)

6 Months Ended

Jul. 02, 2021

Related Party Transactions [Abstract]

Summary of Significant Transactions between Company and The Coca-Cola Company

The following table summarizes the significant cash transactions between the Company and The Coca‑Cola Company:

						Second Quarter												First Half
(in thousands)						2021						2020						2021						2020
Payments made by the Company to The Coca-Cola Company(1)						$	366,808					$	313,081					$	716,153					$	643,382
Payments made by The Coca-Cola Company to the Company						50,325						27,100						80,002						60,628

(1)This excludes payments by the Company to Coca-Cola Refreshments USA, Inc., a wholly owned subsidiary of The Coca‑Cola Company, as discussed in the next section.

Summary of Liability to Estimated Fair Value of Contingent Consideration

The following table summarizes the liability recorded by the Company to reflect the estimated fair value of contingent consideration related to future sub‑bottling payments to CCR:

(in thousands)						July 2, 2021						December 31, 2020
Current portion of acquisition related contingent consideration						$	44,658					$	36,020
Noncurrent portion of acquisition related contingent consideration						428,397						398,674
Total acquisition related contingent consideration						$	473,055					$	434,694

Summary of Rental Payments Related to Leases

A summary of rental payments for these leases related to the second quarter and the first half of 2021 and 2020 is as follows:

						Second Quarter												First Half
(in thousands)						2021						2020						2021						2020
Company headquarters						$	945					$	826					$	1,890					$	1,652
Snyder Production Center						1,113						1,113						2,226						2,226

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Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates.

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