XML 15 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 24, 2022
Sep. 25, 2021
Cash flows provided by operating activities:    
Net income $ 78,680 $ 66,338
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,765 52,953
Impairment of intangible assets 27,100  
Impairment of brewery assets 1,302 15,389
Change in right-of-use assets 5,986 5,959
Stock-based compensation expense 10,328 14,002
Deferred income taxes 2,199 (9,370)
Other non-cash expense (income) 312 (294)
Changes in operating assets and liabilities:    
Accounts receivable (37,745) (5,184)
Inventories (45,185) (71,104)
Prepaid expenses, income tax receivable, and other current assets 52,680 (39,239)
Third-party production prepayments 20,845 (2,733)
Other Assets (7,661) (5,682)
Accounts payable 67,620 17,781
Accrued expenses, other current liabilities and other liabilities (7,861) 18,251
Change in operating lease liabilities (4,412) (6,102)
Net cash provided by operating activities 224,953 50,965
Cash flows used in investing activities:    
Purchases of property, plant and equipment (70,313) (120,887)
Proceeds from disposal of property, plant and equipment 506 1,142
Other investing activities   145
Net cash used in investing activities (69,807) (119,600)
Cash flows provided by (used in) financing activities:    
Proceeds from exercise of stock options and sale of investment shares 5,327 8,571
Cash paid on note payable and finance leases (1,270) (1,181)
Line of credit borrowings 30,000  
Line of credit repayments (30,000)  
Payment of tax withholding on stock-based payment awards and investment shares (3,474) (15,533)
Net cash provided by (used in) financing activities 583 (8,143)
Change in cash and cash equivalents and restricted cash 155,729 (76,778)
Cash and cash equivalents and restricted cash at beginning of year 66,321 163,282
Cash and cash equivalents at end of period 222,050 86,504
Supplemental disclosure of cash flow information:    
Income taxes (refunded) paid, net (37,860) 53,712
Cash paid for amounts included in measurement of lease liabilities    
Operating cash flows from operating leases 5,839 7,823
Operating cash flows from finance leases 58 95
Financing cash flows from finance leases 1,195 1,110
Right-of-use-assets obtained in exchange for operating lease obligations   1,961
Right-of-use-assets obtained in exchange for finance lease obligations   472
Change in purchase of property, plant and equipment in accounts payable and accrued expenses $ 2,162 $ (10,489)