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Related Party Transactions (Tables) | 6 Months Ended
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Jul. 01, 2022
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) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Payments made by the Company to The Coca-Cola Company(1) |  | $ | 510,571 |  |  | $ | 366,808 |  |  | $ | 930,279 |  |  | $ | 716,153 |
Payments made by The Coca-Cola Company to the Company |  | 60,601 |  |  | 50,325 |  |  | 120,270 |  |  | 80,002 |
(1)This excludes acquisition related sub-bottling payments made by the Company to Coca-Cola Refreshments USA, Inc., a wholly owned subsidiary of The Coca‑Cola Company, but includes the purchase price of certain additional BODYARMOR distribution rights, each as discussed below.
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 expected acquisition related sub‑bottling payments to CCR:
(in thousands) |  | July 1, 2022 |  | December 31, 2021
Current portion of acquisition related contingent consideration |  | $ | 40,321 |  |  | $ | 51,518 |
Noncurrent portion of acquisition related contingent consideration |  | 481,938 |  |  | 490,587 |
Total acquisition related contingent consideration |  | $ | 522,259 |  |  | $ | 542,105 |
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 2022 and 2021 is as follows:
|  | Second Quarter |  | First Half
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021
Company headquarters |  | $ | 964 |  |  | $ | 945 |  |  | $ | 1,927 |  |  | $ | 1,890 |
Snyder Production Center |  | — |  |  | 1,113 |  |  | 927 |  |  | 2,226 |

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- Definition Summary of rental payments related to related party leases. + References No definition available. + Details
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- Definition 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. + References No definition available. + Details
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- Definition 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. + References No definition available. + Details
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