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Segment Reporting
 12 Months Ended
Dec. 28, 2024
Segment Reporting [Abstract]  
Segment Reporting

U. Segment Reporting

 

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision making group, in deciding how to allocate resources in assessing performance. The Company has one operating segment and one reportable segment that produces and sells alcohol beverages under various brands. All brands are predominantly beverages that are manufactured using similar production processes, have comparable alcohol content, generally fall under the same regulatory environment, and are sold to the same types of customers in similar size quantities at similar price points, with similar profit margins, and through the same channels of distribution. The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

 

The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the segment based on net income, which is reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets.

 

The table below summarizes the Company’s measures of segment net income that the CODM considered in determining how to allocate resources and assess segment performance for the years ended December 28, 2024, December 30, 2023, and December 31, 2022:

 

 

Year Ended

 

 

 

December 28,
2024

 

 

December 30,
2023

 

 

December 31,
2022

 

 

 

 

 

 

 

 

 

 

 

Net revenue

 

$

2,012,926

 

 

$

2,008,625

 

 

$

2,090,334

 

Less:

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

1,119,194

 

 

 

1,156,256

 

 

 

1,228,348

 

Salaries and benefits expenses

 

 

254,589

 

 

 

238,363

 

 

 

219,491

 

Advertising, promotional, and selling expenses (excluding salaries and benefits)

 

 

402,221

 

 

 

410,710

 

 

 

447,085

 

General and administrative expenses (excluding salaries and benefits)

 

 

85,129

 

 

 

81,473

 

 

 

69,358

 

Impairment of intangible assets

 

 

42,584

 

 

 

16,426

 

 

 

27,100

 

Impairment of brewery assets

 

 

7,184

 

 

 

5,396

 

 

 

2,782

 

Contract settlement costs

 

 

26,052

 

 

 

—

 

 

 

5,379

 

Interest income, net

 

 

(13,249

)

 

 

(10,995

)

 

 

(2,561

)

Other expense, net

 

 

1,620

 

 

 

1,408

 

 

 

1,916

 

Income tax provision

 

 

27,907

 

 

 

33,338

 

 

 

24,173

 

Segment net income

 

$

59,695

 

 

$

76,250

 

 

$

67,263