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Commitments and Contingencies | 9 Months Ended
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Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | I. Commitments and Contingencies Contractual Obligations As of September 28, 2024, projected cash outflows under non-cancelable contractual obligations are as follows:
|  | Commitments |
|  | (in thousands) |
Ingredients and packaging (excluding hops and malt) |  | $ | 42,947 |
Hops and malt |  |  | 42,647 |
Brand support |  |  | 36,568 |
Equipment and machinery |  |  | 27,787 |
Other |  |  | 29,497 |
Total commitments |  | $ | 179,446 |
The Company expects to pay $103.8 million of these obligations in the remainder of fiscal 2024, $56.6 million in fiscal 2025, $13.3 million in fiscal 2026, and $5.7 million in fiscal 2027 and thereafter. Litigation The Company is party to legal proceedings and 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 accrues loss contingencies if, in the opinion of management and its legal counsel, the risk of loss is probable and the loss can be estimated. Material pending legal proceedings are discussed below. On December 31, 2022, Ardagh Metal Packaging USA Corp. (“Ardagh”) filed an action against the Company alleging, among other things, that the Company had failed to purchase contractual minimum volumes of certain aluminum beverage can containers in 2021 and 2022. The Company denies that it breached the terms of the parties’ contract and intends to defend against the Ardagh claims vigorously. On February 23, 2023 and April 4, 2023, Ardagh and the Company engaged in mediation sessions with a neutral, third-party mediator, but were not able to resolve the matter and the litigation will proceed. On May 5, 2023, the Company filed an Answer in response to the Complaint, and Counterclaims against Ardagh. On June 26, 2023, Ardagh filed a Motion to Dismiss Certain Counterclaims and a Motion to Strike Certain Affirmative Defenses, to which the Company filed Oppositions on July 24, 2023. The Company filed an Amended Answer, Amended Affirmative Defenses and Amended Counterclaims on March 25, 2024. On November 9, 2023, Ardagh filed a Notice of Plaintiff’s Motion for Judgment on the Pleadings on Count II of the Complaint, to which the Company filed an Opposition on November 22, 2023. On February 26, 2024, the Court granted the Motion. On March 27, 2024, the Company filed a Motion to Clarify and to Reconsider the Court’s decision. Following briefing by the parties, on June 17, 2024, the Court granted the Company's Motion to Reconsider, denied Ardagh's Motion for Judgment on the Pleadings, and vacated its February 26, 2024 Order. Although the Court has not yet set a final date, the Company anticipates that fact discovery will be closed in 2024. The Court has also not yet set a date for the close of expert discovery, summary judgment filings, or trial.

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