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Commitments and Contingencies | 9 Months Ended
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Sep. 25, 2021
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | K. Commitments and Contingencies Contract Obligations As of September 25, 2021, projected cash outflows under non-cancelable contractual obligations are as follows:
|  | Commitments |
|  | (in thousands) |
Ingredients (excluding hops and malt) |  | $ | 138,401 |
Brand support |  |  | 67,847 |
Hops and malt |  |  | 47,159 |
Equipment and machinery |  |  | 34,368 |
Packaging |  |  | 25,489 |
Other |  |  | 10,082 |
Total commitments |  | $ | 323,346 |
The majority of these contract obligations are for the 2021 fiscal year with the remainder extending no later than the 2025 fiscal year. Litigation The Company is and in the future may be party to legal proceedings and claims, including class action claims, where significant damages are asserted against it. Given the inherent uncertainty of litigation, it is possible that the Company could incur liabilities as a consequence of these claims, which may or may not have a material adverse effect on the Company’s financial condition or the results of its operations. The Company has contingencies and may record provisions for which, even if in the opinion of management and its legal counsel, the risk of loss is probable and estimable. The most significant contingencies are discussed below. Securities Litigation. On September 14, 2021, a purported class action lawsuit was filed by an individual shareholder in the United States District Court for the Southern District of New York against the Company and three of its officers. The complaint alleges claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 between April 22, 2021 and September 8, 2021. The plaintiff claims that defendants made materially false and/or misleading statements or failed to disclose material adverse facts about the Company’s business, operations, and prospects. On October 8, 2021, a nearly identical complaint was filed against the Company by an individual shareholder in the United States District Court for the Southern District of New York. The Company intends to vigorously defend against these lawsuits. A range of potential loss is not estimable at this time. False Advertising. On August 26, 2021, a proposed class action lawsuit was filed by two individuals in the United States District Court for the Southern District of California against the Company. The complaint alleges claims for false advertising, breach of warranty, unlawful business practices, unfair competition, and violations of certain California and New York consumer protection acts. The plaintiff claims that the Company falsely or misleadingly labelled its Truly products with respect to the ingredients contained therein. The Company intends to vigorously assert and defend its rights in this lawsuit. A range of potential loss is not estimable at this time.

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