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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Cash flows provided by operating activities:    
Net income (loss) $ 64,936 $ 49,079
Adjustments to reconcile net income to net cash provided operating activities:    
Depreciation and amortization 46,983 43,602
Impairment of brewery assets 3,731 2,016
Gain on sale of property, plant, and equipment (22) (195)
Change in right-of-use assets 3,608 3,844
Stock-based compensation expense 11,008 8,266
Deferred income taxes 187 (1,177)
Other non-cash expense (income) 296 (88)
Changes in operating assets and liabilities:    
Accounts receivable (58,751) (60,307)
Inventories (31,566) (9,376)
Prepaid expenses, income tax receivable, and other assets (6,977) 1,041
Third-party production prepayments 9,303 14,512
Other assets 3,390 (5,995)
Accounts payable 29,487 38,872
Accrued expenses and other liabilities 20,045 21,354
Operating lease liabilities (4,542) (4,311)
Net cash provided by operating activities 91,116 101,137
Cash flows used in investing activities:    
Cash paid for note receivable (20,000)  
Purchases of property, plant and equipment (36,090) (34,809)
Proceeds from disposal of property, plant and equipment 23 195
Net cash used in investing activities (56,067) (34,614)
Cash flows used in financing activities:    
Repurchases and retirement of Class A common stock (112,958) (45,887)
Proceeds from exercise of stock options and sale of investment shares 2,179 9,466
Cash paid on finance leases (1,062) (797)
Payment of tax withholding on stock-based payment awards and investment shares (2,404) (2,110)
Net cash used in financing activities (114,245) (39,328)
Change in cash and cash equivalents (79,196) 27,195
Cash and cash equivalents at beginning of period 298,491 180,560
Cash and cash equivalents at end of period 219,295 207,755
Supplemental disclosure of cash flow information:    
Income tax payments, net 12,164 1,398
Cash paid for amounts included in measurement of lease liabilities    
Operating cash outflows from operating leases 5,315 5,214
Operating cash outflows from finance leases 124 57
Financing cash outflows from finance leases 1,062 796
Right-of-use-assets obtained in exchange for finance lease obligations 2,017 2,824
(Decrease) increase in accounts payable and accrued expenses for purchases of property, plant, and equipment (3,169) $ 3,693
Increase in accrued expenses for non-cash financing activity - accrued excise taxes on share repurchases $ 944