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Dogfish Head Brewery Transaction (Tables)

9 Months Ended

Sep. 26, 2020

Fair value of assets acquired and liabilities assumed

The following table summarizes the acquisition date fair value of the tangible assets, intangible assets, liabilities assumed, and related goodwill acquired from Dogfish Head, as well as the allocation of purchase price paid:

		Total (In Thousands)
Cash and cash equivalents		$	7,476
Accounts receivable			8,081
Inventories			9,286
Prepaid expenses and other current assets			847
Property, plant and equipment			106,964
Goodwill			108,846
Brand			98,500
Other intangible assets			3,800
Other assets			378
Total assets acquired			344,178
Accounts payable			3,861
Accrued expenses and other current liabilities			4,085
Deferred income taxes			18,437
Other liabilities			59
Total liabilities assumed			26,442
Net assets acquired		$	317,736
Cash consideration		$	172,993
Nominal value of equity issued			162,999
Fair Value reduction due to liquidity			(18,256	)
Estimated total purchase price		$	317,736

Unaudited proforma information

		Thirteen weeks ended				Thirty-nine weeks ended
		September 28, 2019				September 28, 2019
		(in thousands)				(in thousands)
Net revenue		$	379,205			$	1,002,959
Net income		$	46,445			$	103,105
Basic earnings per share		$	3.84			$	8.74
Diluted earnings per share		$	3.79			$	8.64

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463

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X

- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472

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