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Inventories

3 Months Ended

Mar. 29, 2025

D. Inventories

Inventories consist of raw materials, work in process and finished goods which are stated at the lower of cost, determined on the first-in, first-out basis, or net realizable value. Raw materials principally consist of hops, packaging, flavorings, fruit juices, and other brewing materials. The Company’s goal is to maintain on hand a supply of at least one year for essential hop varieties, in order to limit the risk of an unexpected reduction in supply. Inventories are generally classified as current assets. The Company classifies hops inventory in excess of two years of forecasted usage in other long-term assets. The cost elements of work in process and finished goods inventory consist of raw materials, direct labor and manufacturing overhead. Inventories consist of the following:


	March 29, 2025		December 28, 2024
	(in thousands)
Current inventory:
Raw materials	$	56,847	$	48,321
Work in process		21,160		18,878
Finished goods		67,249		49,960
Total current inventory		145,256		117,159
Long term inventory		4,806		6,076
Total inventory	$	150,062	$	123,235

As of March 29, 2025 and December 28, 2024, the Company has recorded inventory obsolescence reserves of $14.1 million and $16.3 million, respectively.