DISTRIBUTION AGREEMENTS

9 Months Ended

Sep. 30, 2024

DISTRIBUTION AGREEMENTS

DISTRIBUTION AGREEMENTS

10. DISTRIBUTION AGREEMENTS

In the normal course of business, amounts received pursuant to new and/or amended distribution agreements entered into with certain bottlers/distributors, relating to the costs associated with terminating agreements with the Company’s prior distributors, or at the inception of certain sales/marketing programs are accounted for as deferred revenue and are recognized as revenue ratably over the anticipated life of the respective agreement, generally 20 years or program duration, as the case may be. Revenue recognized was $10.0 million for both the three-months ended September 30, 2024 and 2023. Revenue recognized was $29.9 million and $30.0 million for the nine-months ended September 30, 2024 and 2023, respectively.