Other Liabilities

12 Months Ended

Dec. 31, 2023

Other Liabilities Disclosure [Abstract]

Other Liabilities

Other Liabilities

Other liabilities consisted of the following:

(in thousands)	December 31, 2023		December 31, 2022
Noncurrent portion of acquisition related contingent consideration	$	604,809	$	501,431
Accruals for executive benefit plans	153,428		137,771
Noncurrent deferred proceeds from related parties	100,176		103,240
Other	8,086		10,915
Total other liabilities	$	866,499	$	753,357

In 2017, The Coca‑Cola Company agreed to provide the Company a fee to compensate the Company for the net economic impact of changes made by The Coca‑Cola Company to the authorized pricing on sales of covered beverages produced at certain manufacturing plants owned by the Company (the “Legacy Facilities Credit”), which was recorded as a deferred liability and will be amortized as a reduction to cost of sales over a period of 40 years.

Also in 2017, upon the conversion of the Company’s then-existing bottling agreements pursuant to the CBA, the Company received a fee from CCR (the “Territory Conversion Fee”), which was recorded as a deferred liability and will be amortized as a reduction to cost of sales over a period of 40 years. Together, the Legacy Facilities Credit and the Territory Conversion Fee are “deferred proceeds from related parties.”