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Segment Reporting
 9 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
Segment Reporting

N. 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 thirteen and thirty-nine weeks ended September 27, 2025, and September 28, 2024

 

 

 

Thirteen weeks ended

 

 

Thirty-nine weeks ended

 

 

 

September 27, 2025

 

 

September 28, 2024

 

 

September 27, 2025

 

 

September 28,
2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in thousands)

 

 

(in thousands)

 

Net revenue

 

$

537,494

 

 

$

605,477

 

 

$

1,579,310

 

 

$

1,610,627

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

 

264,377

 

 

 

325,236

 

 

 

794,412

 

 

 

877,580

 

Salaries and benefits expenses

 

 

65,628

 

 

 

58,134

 

 

 

192,376

 

 

 

193,437

 

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

 

 

124,782

 

 

 

113,121

 

 

 

347,474

 

 

 

299,307

 

General and administrative expenses (excluding salaries and benefits)

 

 

19,242

 

 

 

20,549

 

 

 

60,752

 

 

 

61,966

 

Impairment of intangible assets

 

 

—

 

 

 

42,584

 

 

 

—

 

 

 

42,584

 

Impairment of brewery assets

 

 

1,416

 

 

 

20

 

 

 

6,401

 

 

 

3,751

 

Interest income, net

 

 

(2,696

)

 

 

(3,582

)

 

 

(7,320

)

 

 

(10,021

)

Other expense, net

 

 

595

 

 

 

317

 

 

 

1,168

 

 

 

795

 

Income tax provision

 

 

17,995

 

 

 

15,584

 

 

 

53,047

 

 

 

42,778

 

Segment net income

 

$

46,155

 

 

$

33,514

 

 

$

131,000

 

 

$

98,450