The Boston Beer Company, Inc. (SAM) 10-Q 23 Jul 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 27, 2020	Jul. 17, 2020
Document Information [Line Items]
Document Transition Report	false
Document Quarterly Report	true
Document Type	10-Q
Document Period End Date	Jun. 27, 2020
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Registrant Name	BOSTON BEER CO INC
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	1-14092
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-3284048
Entity Address, Address Line One	One Design Center Place, Suite 850
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02210
City Area Code	617
Local Phone Number	368-5000
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000949870
Current Fiscal Year End Date	--12-26
Trading Symbol	SAM
Security Exchange Name	NYSE
Title of 12(b) Security	Class A Common Stock
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		9,901,752
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,307,983

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Current Assets:
Cash and cash equivalents	$ 86,716	$ 36,670
Accounts receivable	99,320	54,404
Inventories	108,523	106,038
Prepaid expenses and other current assets	22,693	12,077
Income tax receivable	3,435	9,459
Total current assets	320,687	218,648
Property, plant and equipment, net	565,265	541,068
Operating right-of-use assets	61,420	53,758
Goodwill	112,529	112,529
Intangible assets	104,096	104,272
Other assets	44,255	23,782
Total assets	1,208,252	1,054,057
Current Liabilities:
Accounts payable	93,576	76,374
Accrued expenses and other current liabilities	118,788	99,107
Current operating lease liabilities	7,444	5,168
Total current liabilities	219,808	180,649
Deferred income taxes, net	87,417	75,010
Non-current operating lease liabilities	62,896	53,940
Other liabilities	10,648	8,822
Total liabilities	380,769	318,421
Commitments and Contingencies (See Note K)
Stockholders' Equity:
Additional paid-in capital	585,327	571,784
Accumulated other comprehensive loss, net of tax	(1,740)	(1,669)
Retained earnings	243,775	165,400
Total stockholders' equity	827,483	735,636
Total liabilities and stockholders' equity	1,208,252	1,054,057
Common Class A
Stockholders' Equity:
Common Stock	98	94
Common Class B
Stockholders' Equity:
Common Stock	$ 23	$ 27

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 27, 2020	Dec. 28, 2019
Common Class A
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	22,700,000	22,700,000
Common Stock, shares issued	9,834,473	9,370,526
Common Stock, shares outstanding	9,834,473	9,370,526
Common Class B
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	4,200,000	4,200,000
Common Stock, shares issued	2,307,983	2,672,983
Common Stock, shares outstanding	2,307,983	2,672,983

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Revenue	$ 481,089	$ 338,643	$ 833,314	$ 606,202
Less excise taxes	28,951	20,236	50,611	36,144
Net revenue	452,138	318,407	782,703	570,058
Cost of goods sold	242,514	159,405	425,106	286,516
Gross profit	209,624	159,002	357,597	283,542
Operating expenses:
Advertising, promotional and selling expenses	100,336	94,079	198,227	165,802
General and administrative expenses	29,685	26,748	56,714	50,122
Impairment of assets	834	243	2,355	243
Total operating expenses	130,855	121,070	257,296	216,167
Operating income	78,769	37,932	100,301	67,375
Other (expense) income, net:
Interest (expense) income, net	(212)	(27)	(149)	610
Other (expense) income, net	(52)	197	(412)	(55)
Total other (expense) income, net	(264)	170	(561)	555
Income before income tax provision	78,505	38,102	99,740	67,930
Income tax provision	18,364	10,246	21,365	16,380
Net income	$ 60,141	$ 27,856	$ 78,375	$ 51,550
Net income per common share - basic	$ 4.93	$ 2.39	$ 6.44	$ 4.42
Net income per common share - diluted	$ 4.88	$ 2.36	$ 6.37	$ 4.38
Weighted-average number of common shares - basic	12,196	11,672	12,177	11,654
Weighted-average number of common shares - diluted	12,258	11,684	12,221	11,660
Net income	$ 60,141	$ 27,856	$ 78,375	$ 51,550
Other comprehensive income:
Foreign currency translation adjustment	(13)	5	(71)	42
Comprehensive income	$ 60,128	$ 27,861	$ 78,304	$ 51,592
Common Class A
Other (expense) income, net:
Net income per common share - basic	$ 4.93	$ 2.39	$ 6.44	$ 4.42
Weighted-average number of common shares - basic	9,720	8,648	9,572	8,627
Common Class B
Other (expense) income, net:
Net income per common share - basic	$ 4.93	$ 2.39	$ 6.44	$ 4.42
Net income per common share - diluted	$ 4.88	$ 2.36	$ 6.37	$ 4.38
Weighted-average number of common shares - basic	2,400	2,918	2,523	2,918

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common StockCommon Class A	Common StockCommon Class B	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income, net of tax	Retained Earnings
Balance at Dec. 29, 2018	$ 460,317	$ 86	$ 29	$ 405,711	$ (1,197)	$ 55,688
Balance (in shares) at Dec. 29, 2018		8,580,000	2,918,000
Net income	23,694					23,694
Stock options exercised and restricted shares activities (in shares)		54,000
Stock options exercised and restricted shares activities	3,704			3,704
Stock-based compensation expense	2,066			2,066
Currency translation adjustment	37				37
Balance at Mar. 30, 2019	489,818	$ 86	$ 29	411,481	(1,160)	79,382
Balance (in shares) at Mar. 30, 2019		8,634,000	2,918,000
Balance at Dec. 29, 2018	460,317	$ 86	$ 29	405,711	(1,197)	55,688
Balance (in shares) at Dec. 29, 2018		8,580,000	2,918,000
Net income	51,550
Currency translation adjustment	42
Balance at Jun. 29, 2019	522,801	$ 87	$ 29	416,602	(1,155)	107,238
Balance (in shares) at Jun. 29, 2019		8,655,000	2,918,000
Balance at Mar. 30, 2019	489,818	$ 86	$ 29	411,481	(1,160)	79,382
Balance (in shares) at Mar. 30, 2019		8,634,000	2,918,000
Net income	27,856					27,856
Stock options exercised and restricted shares activities (in shares)		21,000
Stock options exercised and restricted shares activities	1,378	$ 1		1,377
Stock-based compensation expense	3,744			3,744
Currency translation adjustment	5				5
Balance at Jun. 29, 2019	522,801	$ 87	$ 29	416,602	(1,155)	107,238
Balance (in shares) at Jun. 29, 2019		8,655,000	2,918,000
Balance at Dec. 28, 2019	735,636	$ 94	$ 27	571,784	(1,669)	165,400
Balance (in shares) at Dec. 28, 2019		9,371,000	2,673,000
Net income	18,234					18,234
Stock options exercised and restricted shares activities (in shares)		38,000
Stock options exercised and restricted shares activities	1,858			1,858
Stock-based compensation expense	2,566			2,566
Conversion from Class B to Class A (in shares)		150,000	(150,000)
Conversion from Class B to Class A		$ 2	$ (2)
Currency translation adjustment	(58)				(58)
Balance at Mar. 28, 2020	758,236	$ 96	$ 25	576,208	(1,727)	183,634
Balance (in shares) at Mar. 28, 2020		9,559,000	2,523,000
Balance at Dec. 28, 2019	735,636	$ 94	$ 27	571,784	(1,669)	165,400
Balance (in shares) at Dec. 28, 2019		9,371,000	2,673,000
Net income	$ 78,375
Stock options exercised and restricted shares activities (in shares)	57,926
Currency translation adjustment	$ (71)
Balance at Jun. 27, 2020	827,483	$ 98	$ 23	585,327	(1,740)	243,775
Balance (in shares) at Jun. 27, 2020		9,835,000	2,308,000
Balance at Mar. 28, 2020	758,236	$ 96	$ 25	576,208	(1,727)	183,634
Balance (in shares) at Mar. 28, 2020		9,559,000	2,523,000
Net income	60,141					60,141
Stock options exercised and restricted shares activities (in shares)		61,000
Stock options exercised and restricted shares activities	4,582			4,582
Stock-based compensation expense	4,537			4,537
Conversion from Class B to Class A (in shares)		215,000	(215,000)
Conversion from Class B to Class A		$ 2	$ (2)
Currency translation adjustment	(13)				(13)
Balance at Jun. 27, 2020	$ 827,483	$ 98	$ 23	$ 585,327	$ (1,740)	$ 243,775
Balance (in shares) at Jun. 27, 2020		9,835,000	2,308,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019
Cash flows provided by operating activities:
Net income	$ 78,375	$ 51,550
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	32,584	26,089
Impairment of assets	2,355	243
Loss on disposal of property, plant and equipment	39	104
Change in ROU assets	3,649	1,789
Credit loss expense	375	(1)
Stock-based compensation expense	7,103	5,810
Deferred income taxes	12,407	6,283
Changes in operating assets and liabilities:
Accounts receivable	(45,326)	(35,346)
Inventories	(12,795)	(14,942)
Prepaid expenses, income tax receivable and other current assets	(4,784)	(6,855)
Other assets	(10,231)	(4,107)
Accounts payable	19,560	26,320
Accrued expenses and other current liabilities	20,803	(101)
Change in operating lease liability	(80)	(1,391)
Other liabilities	(23)	85
Net cash provided by operating activities	104,011	55,530
Cash flows used in investing activities:
Purchases of property, plant and equipment	(60,072)	(44,578)
Proceeds from disposal of property, plant and equipment	45	179
Investment in Dogfish Head, net of cash acquired	0	(158,402)
Other investing activities	260	(188)
Net cash used in investing activities	(59,767)	(202,989)
Cash flows provided by financing activities:
Proceeds from exercise of stock options and sale of investment shares	8,010	4,692
Net cash paid on note payable and finance leases	(649)	(115)
Cash borrowed on line of credit	100,000	86,000
Cash paid on line of credit	(100,000)	(48,500)
Payment of tax withholdings on stock-based payment awards and investment shares	(1,559)
Net cash provided by (used in) financing activities	5,802	42,077
Change in cash and cash equivalents	50,046	(105,382)
Cash and cash equivalents at beginning of year	36,670	108,399
Cash and cash equivalents at end of period	86,716	3,017
Supplemental disclosure of cash flow information:
Income taxes paid	2,929	207
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	4,532	1,916
Operating cash flows from finance leases	75	52
Financing cash flows from finance leases	581	7
Right-of-use assets obtained in exchange for operating lease obligations	11,311	38,524
Right-of-use assets obtained in exchange for finance lease obligations	3,856	2,837
Change in purchase of property, plant and equipment in accounts payable and accrued expenses	$ 4,920	$ 1,484

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 27, 2020
Organization and Basis of Presentation	A. Organization and Basis of Presentation The Boston Beer Company, Inc. and certain subsidiaries (the “Company”) are engaged in the business of selling alcohol beverages throughout the United States and in selected international markets, under the trade names “The Boston Beer Company ® ® ® ® ® ® ® The accompanying unaudited consolidated balance sheet as of June 27, 2020, and the consolidated statements of comprehensive income, stockholders’ equity, and cash flows for the interim periods ended June 27, 2020 and June 29, 2019 have been prepared by the Company in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission. Accordingly, certain information and footnotes normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. All intercompany accounts and transactions have been eliminated. These consolidated financial statements should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K In the opinion of the Company’s management, the Company’s unaudited consolidated balance sheet as of June 27, 2020 and the results of its consolidated operations, stockholders’ equity, and cash flows for the interim periods ended June 27, 2020 and June 29, 2019, reflect all adjustments (consisting only of normal and recurring adjustments) necessary to present fairly the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full year.

COVID-19 Pandemic

COVID-19 Pandemic	6 Months Ended
	Jun. 27, 2020
COVID Nineteen Pandemic [Abstract]
COVID-19 Pandemic	B. COVID-19 The Company began seeing the impact of the COVID-19 on-premise COVID-19 pre-tax COVID-19

Dogfish Head Brewery Transactio

Dogfish Head Brewery Transaction	6 Months Ended
	Jun. 27, 2020
Business Combinations [Abstract]
Dogfish Head Brewery Transaction	C. Dogfish Head Brewery Transaction On May 8, 2019, the Company entered into definitive agreements to acquire Dogfish Head Brewery (“Dogfish Head”) and various related operations (the “Transaction”) through the acquisition of all of the equity interests held by certain private entities in Off-Centered The fair value of the Transaction is estimated to be $317.7 million. The following table summarizes the acquisition date fair value of the tangible assets, intangible assets, liabilities assumed, and related goodwill acquired from Dogfish Head, as well as the allocation of purchase price paid: Total (In Thousands) Cash and cash equivalents $ 7,476 Accounts receivable 8,081 Inventories 9,286 Prepaid expenses and other current assets 847 Property, plant and equipment 106,964 Goodwill 108,846 Brand 98,500 Other intangible assets 3,800 Other assets 378 Total assets acquired 344,178 Accounts payable 3,861 Accrued expenses and other current liabilities 4,085 Deferred income taxes 18,437 Other liabilities 59 Total liabilities assumed 26,442 Net assets acquired $ 317,736 Cash consideration $ 172,993 Nominal value of equity issued 162,999 Fair Value reduction due to liquidity (18,256 ) Estimated total purchase price $ 317,736 The Company accounted for the acquisition in accordance with the accounting standards codification guidance for business combinations, whereby the total purchase price was allocated to the acquired net tangible and intangible assets of Dogfish Head based on their fair values as of the Transaction closing date. The fair value of the Dogfish Head brand trade name is estimated at approximately $98.5 million and the fair value of customer relationships is estimated at $3.8 million. The Company estimated the Dogfish Head brand trade name will have an indefinite life and customer relationships will have an estimated useful life of 15 years. The customer relationship intangible asset will be amortized on a straight-line basis over the 15 year estimated useful life. The fair value of the deferred income tax liability assumed is $18.4 million, representing the expected future tax consequences of temporary differences between the fair values of the assets acquired and liabilities assumed and their tax basis. The excess of the purchase price paid over the estimated fair values of the assets and liabilities assumed has been recorded as goodwill in the amount of $108.8 million. Goodwill associated with the acquisition is primarily attributable to the future growth opportunities associated with the Transaction, expected synergies and value of the workforce. The Company believes the majority of the goodwill is deductible for tax purposes. The fair value of the brand trade name was determined utilizing the relief from royalty method which is a form of the income approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenue supporting the trade name and discounted to present value using an appropriate discount rate. The fair value of the property, plant and equipment was determined utilizing the cost and market valuation approaches. The results of operations from Dogfish Head have been included in the Company’s consolidated statements of comprehensive income since the July 3, 2019 Transaction closing date. Consistent with prior periods and considering post-merger reporting structures, the Company will continue to report as one operating segment. The combined Company’s 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 and through the same channels of distribution. The following unaudited pro forma information has been prepared, as if the Transaction and the related debt financing had occurred as of December 30, 2018, the first day of the Company’s 2019 fiscal year. The pro forma amounts reflect the combined historical operational results for Boston Beer and Dogfish Head, after giving effect to adjustments related to the impact of purchase accounting, transaction costs and financing. The unaudited pro forma financial information is not indicative of the operational results that would have been obtained had the Transaction occurred as of that date, nor is it necessarily indicative of the Company’s future operational results. The following adjustments have been made: (i) Depreciation and amortization expenses were updated to reflect the fair value adjustments to Dogfish Head property, plant and equipment and intangible assets beginning December 30, 2018. (ii) Interest expense has been included at a rate of approximately 3% which is consistent with the borrowing rate on the Company’s current line of credit. (i ii The tax effects of the pro forma adjustments at an estimated statutory rate of 25.6%. ( i Earnings per share amounts are calculated using the Company’s historical weighted average shares outstanding plus the 429,291 shares issued in the merger. Thirteen weeks ended Twenty-six June 27, June 29, June 27, June 29, 2020 2019 2020 2019 (in thousands) (in thousands) Net revenue $ 452,138 $ 347,015 $ 782,703 $ 623,755 Net income $ 60,141 $ 30,359 $ 78,375 $ 55,022 Basic earnings per share $ 4.93 $ 2.51 $ 6.44 $ 4.55 Diluted earnings per share $ 4.88 $ 2.46 $ 6.37 $ 4.48

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 27, 2020
Goodwill and Intangible Assets	D. Goodwill and Intangible Assets There were no changes in the carrying value of goodwill during the thirteen or twenty-six The Company’s intangible assets as of June 27, 2020 and December 28, 2019 were as follows: As of June 27, 2020 As of December 28, 2019 Estimated Useful Gross Carrying Accumulated Net Book Gross Carrying Accumulated Net Book (in thousands) Custmer Relationships 15 $ 3,800 $ (253 ) $ 3,547 $ 3,800 $ (127 ) $ 3,673 Trade Names Indefinite 100,549 — 100,549 100,599 — 100,599 Total intangible assets $ 104,349 $ (253 ) $ 104,096 $ 104,399 $ (127 ) $ 104,272 As disclosed within Note C, the Company acquired intangible assets as part of the Dogfish Head t twenty-six Fiscal Year Amount (in thousands) Remainder of 2020 $ 127 2021 253 2022 253 2023 253 2024 253 2025 253

Recent Accounting Pronouncement

Recent Accounting Pronouncements	6 Months Ended
	Jun. 27, 2020
Recent Accounting Pronouncements	E. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In June 2016, the FASB issued ASU 2016-13, 2016-13 In January 2017, the FASB issued ASU No. 2017-04, 2017-04, two-step 2017-04 2017-04 2017-04 Accounting Pronouncements Not Yet Effective In December 2019, the FASB issued ASU 2019-12, 2019-12

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 27, 2020
Revenue Recognition	F. Revenue Recognition During the twenty-six The Company recognizes revenue when obligations under the terms of a contract with its customer are satisfied; generally, this occurs with the transfer of control of its products. Revenue is measured as the amount of consideration expected to be received in exchange for transferring products. If the conditions for revenue recognition are not met, the Company defers the revenue until all conditions are met. As of June 27, 2020 and December 28, 2019, the Company has deferred $9.0 million and $7.0 million, respectively in revenue related to product shipped prior to these dates. These amounts are included in accrued expenses and other current liabilities in the accompanying consolidated balance sheets. Customer promotional discount programs are entered into by the Company with distributors for certain periods of time. The reimbursements for discounts to distributors are recorded as reductions to net revenue and were $20.4 million and $28.6 million for the thirteen and twenty-six twenty-six allowance. Customer programs and incentives are a common practice in the alcohol beverage industry. Amounts paid in connection with customer programs and incentives are recorded as reductions to net revenue or as advertising, promotional and selling expenses ,

Inventories

Inventories	6 Months Ended
	Jun. 27, 2020
Inventories	G. Inventories Inventories consist of raw materials, work in process and finished goods. Raw materials, which principally consist of hops, flavorings, apple juice, other brewing materials and packaging, are stated at the lower of cost, determined on the first-in, first-out June 27, 2020 December 28, 2019 (in thousands) Current inventory: Raw materials $ 62,475 $ 61,522 Work in process 15,161 12,631 Finished goods 30,887 31,885 Total current inventory 108,523 106,038 Long term inventory 20,358 10,048 Total inventory $ 128,881 $ 116,086

Leases

Leases	6 Months Ended
	Jun. 27, 2020
Leases	H. Leases The Company has various lease agreements in place for facilities and equipment. Terms of these leases include, in some instances, scheduled rent increases, renewals, purchase options and maintenance costs, and vary by lease. These lease obligations expire at various dates through 2034. As the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate based on information available at commencement to determine the present value of the lease payments. ROU assets and lease liabilities commencing after December 30, 2018 are recognized at commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less (“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease term. As of June 27, 2020, and December 28, 2019 total ROU assets and lease liabilities were as follows: Classification Leases June 27, 2020 December 28, 2019 (in thousands) Right- of-use Operating lease assets Operating right-of-use $ 61,420 $ 53,758 Finance lease assets Property, plant and equipment, net 5,814 2,531 Lease Liabilities Current Operating lease liabilities Current operating lease liabilities 7,444 5,168 Finance lease liabilities Accrued expenses and other current liabilities 1,807 546 Non-current Operating lease liabilities Non-current 62,896 53,940 Finance lease liabilities Other liabilities 4,056 2,042 The gross value and accumulated depreciation of ROU assets related to finance leases as of June 27, 2020 and December 28, 2019 were as follows: Finance Leases June 27, 2020 December 28, 2019 (in thousands) Gross value $ 6,694 $ 2,837 Accumulated amortization (880 ) (306 ) Carrying value $ 5,814 $ 2,531 Components of lease cost for the thirteen and twenty-six Lease Cost Thirteen weeks ended Twenty-six June 27, June 29, June 27, June 29, 2020 2019 2020 2019 (in thousands) (in thousands) Operating lease cost $ 2,437 $ 1,177 $ 4,852 $ 2,305 Variable lease costs not included in liability 487 273 972 472 Finance lease cost: Amortization of right-of-use 440 43 573 43 Interest on lease liabilities 53 52 75 52 Total finance lease cost $ 493 $ 95 $ 648 $ 95 Maturities of lease liabilities as of June 27, 2020 were as follows: Operating Finance Leases Weighted-Average Remaining Term Operating Leases Finance Leases (in thousands) 2020 $ 4,843 $ 987 2021 9,903 1,982 2022 9,761 1,982 2023 9,709 965 2024 9,470 265 Thereafter 39,523 23 Total lease payments 83,209 6,204 Less imputed interest (based on 3.5% (12,869 ) (341 ) Present value of lease liability $ 70,340 $ 5,863 9.3 3.2

Net Income per Share

Net Income per Share	6 Months Ended
	Jun. 27, 2020
Net Income per Share	I. Net Income per Share The Company calculates net income per share using the two-class The Class A Common Stock has no voting rights, except (1) as required by law, (2) for the election of Class A Directors, and (3) that the approval of the holders of the Class A Common Stock is required for (a) certain future authorizations or issuances of additional securities which have rights senior to Class A Common Stock, (b) certain alterations of rights or terms of the Class A or Class B Common Stock as set forth in the Articles of Organization of the Company, (c) other amendments of the Articles of Organization of the Company, (d) certain mergers or consolidations with, or acquisitions of, other entities, and (e) sales or dispositions of any significant portion of the Company’s assets. The Class B Common Stock has full voting rights, including the right to (1) elect a majority of the members of the Company’s Board of Directors and (2) approve all (a) amendments to the Company’s Articles of Organization, (b) mergers or consolidations with, or acquisitions of, other entities, (c) sales or dispositions of any significant portion of the Company’s assets, and (d) equity-based and other executive compensation and other significant corporate matters. The Company’s Class B Common Stock is not listed for trading. Each share of the Class B Common Stock is freely convertible into one share of Class A Common Stock, upon request of the respective Class B holder, and participates equally in dividends. The Company’s unvested share-based payment awards include unvested shares (1) issued under the Company’s investment share program, which permits employees who have been with the Company for at least one year to purchase shares of Class A Common Stock and to purchase those shares at a discount ranging from 20% to 40% below market value based on years of employment starting after two years of employment, and (2) awarded as restricted stock awards at the discretion of the Company’s Board of Directors. The investment shares and restricted stock awards generally vest over five years in equal number of shares. The unvested shares participate equally in dividends. See Note O for a discussion of the current year unvested stock awards and issuances. Included in the computation of net income per diluted common share are dilutive outstanding stock options and restricted stock that are vested or expected to vest. At its discretion, the Board of Directors grants stock options and restricted stock to senior non-employee re-election non-employee Net Income per Common Share - Basic The following table sets forth the computation of basic net income per share using the two-class Thirteen weeks ended Twenty-six June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands, except per share data) (in thousands, except per share data) Net income $ 60,141 $ 27,856 $ 78,375 $ 51,550 Allocation of net income for basic: Class A Common Stock $ 47,930 $ 20,639 $ 61,612 $ 38,161 Class B Common Stock 11,836 6,964 16,237 12,908 Unvested participating shares 375 253 526 481 $ 60,141 $ 27,856 $ 78,375 $ 51,550 Weighted average number of shares for basic: Class A Common Stock 9,720 8,648 9,572 8,627 Class B Common Stock* 2,400 2,918 2,523 2,918 Unvested participating shares 76 106 82 109 12,196 11,672 12,177 11,654 Net income per share for basic: Class A Common Stock $ 4.93 $ 2.39 $ 6.44 $ 4.42 Class B Common Stock $ 4.93 $ 2.39 $ 6.44 $ 4.42 * Change in Class B Common Stock resulted from the conversion of 100,000 shares to Class A Common Stock on August 8, 2019, 145,000 shares to Class A Common Stock on December 13, 2019, 150,000 shares to Class A Common Stock on March 11, 2020 and 215,000 shares to Class A Common Stock on May 6, 2020 with the ending number of shares reflecting the weighted average for the period. Net Income per Common Share - Diluted The Company calculates diluted net income per share for common stock using the more dilutive of (1) the treasury stock method, or (2) the two-class The following table sets forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock and using the two-class Thirteen weeks ended June 27, 2020 June 29, 20 19 Earnings to Common Shares EPS Earnings to Common Shares EPS (in thousands, except per share data) As reported - basic $ 47,930 9,720 $ 4.93 $ 20,639 8,648 $ 2.39 Add: effect of dilutive potential common shares Share-based awards — 138 — 118 Class B Common Stock 11,836 2,400 6,964 2,918 Net effect of unvested participating shares 4 — 2 — Net income per common share - diluted $ 59,770 12,258 $ 4.88 $ 27,605 11,684 $ 2.36 Twenty-six June 27, 2020 June 29, 20 19 Earnings to Common Shares EPS Earnings to Common Shares EPS (in thousands, except per share data) As reported - basic $ 61,612 9,572 $ 6.44 $ 38,161 8,627 $ 4.42 Add: effect of dilutive potential common shares Share-based awards — 126 — 115 Class B Common Stock 16,237 2,523 12,908 2,918 Net effect of unvested participating shares 5 — 5 — Net income per common share - diluted $ 77,854 12,221 $ 6.37 $ 51,074 11,660 $ 4.38 During the thirteen and twenty-six twenty-six shares of Class A Common Stock were outstanding as of June 29, 2019, respectively, but not included in computing diluted income per common share because the performance criteria of these stock options were not met as of the end of the reporting period.

Comprehensive Income or Loss

Comprehensive Income or Loss	6 Months Ended
	Jun. 27, 2020
Comprehensive Income or Loss	J. Comprehensive Income or Loss Comprehensive income or loss represents net income or loss, plus defined benefit plans liability adjustment, net of tax effect and foreign currency translation adjustment. The defined benefit plans liability and foreign currency translation adjustments for the interim periods ended June 27, 2020 and June 29, 2019 were not material.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 27, 2020
Commitments and Contingencies	K. Commitments and Contingencies Contract Obligations The Company had outstanding total non-cancelable The Company has entered into contracts for the supply of a portion of its hops requirements. These purchase contracts extend through crop year 2025 and specify both the quantities and prices, denominated in U.S. Dollars, Euros, New Zealand Dollars, and British Pounds, to which the Company is committed. Hops purchase commitments outstanding at June 27, 2020 totaled $31.0 million, based on the exchange rates on that date. The Company does not use forward currency exchange contracts and intends to purchase future hops using the exchange rate at the time of purchase. The Company has entered into contracts for barley and wheat with three major suppliers. The contracts include crop year 2019 and 2020 and cover the Company’s barley, wheat, and malt requirements for 2020 and part of 2021. These purchase commitments outstanding at June 27, 2020 totaled $21.3 million. Currently, the Company brews and packages approximately 60% of its volume at Company-owned breweries. In the normal course of its business, the Company has historically entered into various production arrangements with other brewing companies. Pursuant to these arrangements, the Company supplies raw materials to those brewing companies, and incurs conversion fees for labor at the time the liquid is produced and packaged. During the second quarter of 2020, the Company amended an existing brewing services agreement to include an annual minimum commitment by the Company with a shortfall fee if the minimum is not met. The Company does not currently believe its ordered volumes will fall below the annual minimum commitments . The amendment extended the contract through December 31, 2024 and grants the Company the right to extend the agreement beyond the December 31, 2024 termination date on an annual basis through December 31, 2035 at a $1 million annual renewal rate. The amendment required the Company to pay $8 million in the second quarter of 2020 for capital improvements at the third - - Subsequent to June 27, 2020, the Company entered into contracts for equipment and machinery of $12.3 million in order to increase production at Company-owned breweries. The Company is in the process of assessing the impact the COVID-19 Litigation The Company is not a party to any pending or threatened litigation, the outcome of which would be expected to have a material adverse effect upon its financial condition or the results of its operations. In general, while the Company believes it conducts its business appropriately in accordance with laws, regulations and industry guidelines, claims, whether or not meritorious, could be asserted against the Company that might adversely impact the Company’s results.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 27, 2020
Income Taxes	L. Income Taxes As of June 27, 2020 and December 28, 2019, the Company had approximately $0.8 million and $0.8 million, respectively, of unrecognized income tax benefits. The Company’s practice is to classify interest and penalties related to income tax matters in income tax expense. As of June 27, 2020 and December 28, 2019, the Company had $0.2 million and $0.1 million, respectively, accrued for interest and penalties recorded in other liabilities. The Internal Revenue Service completed an examination of the 2015 consolidated corporate income tax return and issued a no change report in 2018. The Company’s state income tax returns remain subject to examination for three The following table provides a summary of the income tax provision for the thirteen and twenty-six Thirteen weeks ended June 27, June 29 , (in thousands) Summary of income tax provision Tax provision based on net income $ 20,699 $ 10,499 Benefit of ASU 2016-09 (2,335 ) (253 ) Total income tax provision $ 18,364 $ 10,246 Twenty-six June 27, June 29 , (in thousands) Summary of income tax provision Tax provision based on net income $ 25,704 $ 18,408 Benefit of ASU 2016-09 (4,339 ) (2,028 ) Total income tax provision $ 21,365 $ 16,380 The Company’s effective tax rate for the thirteen weeks ended June 27, 2020, decreased to 23.4% from 26.9% for the thirteen weeks ended June 29, 2019, primarily due to higher tax benefit from stock option activity recorded in accordance with ASU 2016-09. twenty-six twenty-six also 2016-09.

Revolving Line of Credit

Revolving Line of Credit	6 Months Ended
	Jun. 27, 2020
Revolving Line of Credit	M. Revolving Line of Credit In March 2018, the Company amended its $150.0 million revolving line of credit facility borrowed COVID-19 the Company had repaid the entire $100.0 million. As of June 27, 2020, the Company was not in violation of any of its financial covenants to the lender under the credit facility and the entire balance of

Fair Value Measures

Fair Value Measures	6 Months Ended
	Jun. 27, 2020
Fair Value Measures	N. Fair Value Measures The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). • Level 1 — Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. • Level 2 — Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. • Level 3 — Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. The Company’s money market funds are measured at fair value on a recurring basis (at least quarterly) and are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. The money market funds are invested substantially in United States Treasury and government securities. The Company does not adjust the quoted market price for such financial instruments. Cash, receivables and payables are carried At June 27, 2020 and December 28, 2019, the Company had money market funds with a “Triple A” rated money market fund. The Company considers the “Triple A” rated money market fund to be a large, highly-rated investment-grade institution. As of June 27, 2020 and December 28, 2019, the Company’s cash and cash equivalents balance was $86.7 million and $36.7 million, respectively, including money market funds amounting to $83.0 million and $29.5 million, respectively.

Common Stock and Share-Based Co

Common Stock and Share-Based Compensation	6 Months Ended
	Jun. 27, 2020
Common Stock and Share-Based Compensation	O. Common Stock and Stock-Based Compensation Option Activity Information related to stock options under the Restated Employee Equity Incentive Plan and the Stock Option Plan for Non-Employee Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic (in thousands) Outstanding at December 28, 2019 315,678 $ 186.53 Granted 25,870 383.22 Forfeited (2,595 ) 241.84 Expired — — Exercised (57,926 ) 120.81 Outstanding at June 27, 2020 281,027 $ 217.67 6.14 $ 97,280 Exercisable at June 27, 2020 92,818 $ 185.56 5.11 $ 35,110 Vested and expected to vest at 256,784 $ 216.12 6.09 $ 89,287 Of the total options outstanding at June 27, 2020, 40,000 shares were performance-based options for which the performance criteria had yet to be achieved. On January 31, 2020, the Company granted options to purchase an aggregate of 978 shares of the Company’s Class A Common Stock to the Company’s newly appointed non-employee Director. These options have a weighted average fair value of $146.87 per share, of which all shares vested immediately. On March 1, 2020, the Company granted options to purchase an aggregate of 14,962 shares of the Company’s Class A Common Stock to senior management with a weighted average fair value of $142.25 per share, of which all shares relate to performance-based stock options. On March 2, 2020, the Company granted options to purchase an aggregate of 7,030 shares of the Company’s Class A Common Stock to the Company’s newly appointed Chief People Officer with a weighted average fair value of $142.23 per share, of which all shares relate to performance-based stock options. On May 14, 2020, the Company granted options to purchase an aggregate of 2,900 shares of the Company’s Class A Common Stock to the Company’s non-employee Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows: 2020 Expected Volatility 32.6 % Risk-free interest rate 1.09 % Expected Dividends 0.0 % Exercise factor 2.12 times Discount for post-vesting restrictions 0.0 % Non-Vested The following table summarizes vesting activities of shares issued under the investment share program and restricted stock awards: Number of Shares Weighted Average Fair Value Non-vested 122,142 $ 213.52 Granted 40,316 325.12 Vested (45,169 ) 213.12 Forfeited (3,318 ) 241.05 Non-vested 113,971 $ 252.36 Of the total shares outstanding at June 27, 2020, 3,000 shares were performance-based shares for which the performance criteria had yet to be achieved. On March 1, 2020, the Company granted 15,011 shares of restricted stock units to certain officers, senior managers and key employees, of which all shares vest ratably over service periods of four years. Additionally on March 1, 2020, the Company granted a combined 13,482 shares of restricted stock units to select senior management employees with various service and performance based vesting conditions. On March 1, 2020, employees elected to purchase 9,127 shares under the Company’s investment share program. The weighted average fair value of the restricted stock units and investment shares, which are sold to employees at discount under its investment share program, was $370.79 and $169.43 per share, respectively. On March 2, 2020 the Company granted its newly appointed Chief People Officer 2,696 shares of restricted stock units with a weighted-average fair value of $370.79 per share with service based vesting through 2024. Stock-Based Compensation The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying consolidated statements of comprehensive income: Thirteen weeks ended Twenty-six June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) (in thousands) Amounts included in advertising, promotional and selling expenses $ 1,147 $ 1,121 $ 1,852 $ 1,598 Amounts included in general and administrative expenses 3,390 2,624 5,251 4,212 Total stock-based compensation expense $ 4,537 $ 3,745 $ 7,103 $ 5,810

Employee Retirement Plans

Employee Retirement Plans	6 Months Ended
	Jun. 27, 2020
Employee Retirement Plans	P. Employee Retirement Plans The Company has one company-sponsored defined benefit pension plan that covers certain of its union employees. It was established in 1991 and is open to all union employees who are covered by the Company’s collective bargaining agreement with Teamsters -

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 27, 2020
Related Party Transactions	Q. Related Party Transactions In connection with the Dogfish Head Transaction, the Company has entered into twenty-six

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 27, 2020
Subsequent Events	R. Subsequent Events As disclosed in Note K, subsequent to June 27, 2020, the Company entered into contracts for machinery and equipment to increase capacity in Company-owned breweries. The Company evaluated subsequent events occurring after the balance sheet date, June 27, 2020, and concluded that there were no other events of which management was aware that occurred after the balance sheet date that would require any adjustment to or disclosure in the accompanying consolidated financial statements.

Dogfish Head Brewery Transact_2

Dogfish Head Brewery Transaction (Tables)	6 Months Ended
	Jun. 27, 2020
Fair value of assets acquired and liabilities assumed	The following table summarizes the acquisition date fair value of the tangible assets, intangible assets, liabilities assumed, and related goodwill acquired from Dogfish Head, as well as the allocation of purchase price paid: Total (In Thousands) Cash and cash equivalents $ 7,476 Accounts receivable 8,081 Inventories 9,286 Prepaid expenses and other current assets 847 Property, plant and equipment 106,964 Goodwill 108,846 Brand 98,500 Other intangible assets 3,800 Other assets 378 Total assets acquired 344,178 Accounts payable 3,861 Accrued expenses and other current liabilities 4,085 Deferred income taxes 18,437 Other liabilities 59 Total liabilities assumed 26,442 Net assets acquired $ 317,736 Cash consideration $ 172,993 Nominal value of equity issued 162,999 Fair Value reduction due to liquidity (18,256 ) Estimated total purchase price $ 317,736
Unaudited proforma information	Thirteen weeks ended Twenty-six June 27, June 29, June 27, June 29, 2020 2019 2020 2019 (in thousands) (in thousands) Net revenue $ 452,138 $ 347,015 $ 782,703 $ 623,755 Net income $ 60,141 $ 30,359 $ 78,375 $ 55,022 Basic earnings per share $ 4.93 $ 2.51 $ 6.44 $ 4.55 Diluted earnings per share $ 4.88 $ 2.46 $ 6.37 $ 4.48

Goodwill and Intangible Assets

Goodwill and Intangible Assets - (Tables)	6 Months Ended
	Jun. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	The Company’s intangible assets as of June 27, 2020 and December 28, 2019 were as follows: As of June 27, 2020 As of December 28, 2019 Estimated Useful Gross Carrying Accumulated Net Book Gross Carrying Accumulated Net Book (in thousands) Custmer Relationships 15 $ 3,800 $ (253 ) $ 3,547 $ 3,800 $ (127 ) $ 3,673 Trade Names Indefinite 100,549 — 100,549 100,599 — 100,599 Total intangible assets $ 104,349 $ (253 ) $ 104,096 $ 104,399 $ (127 ) $ 104,272
Schedule of amortization expense	The Company expects to record amortization expense as follows over the remaining current year and the five subsequent years: Fiscal Year Amount (in thousands) Remainder of 2020 $ 127 2021 253 2022 253 2023 253 2024 253 2025 253

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 27, 2020
Components of Inventories	June 27, 2020 December 28, 2019 (in thousands) Current inventory: Raw materials $ 62,475 $ 61,522 Work in process 15,161 12,631 Finished goods 30,887 31,885 Total current inventory 108,523 106,038 Long term inventory 20,358 10,048 Total inventory $ 128,881 $ 116,086

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 27, 2020
Leases [Abstract]
ROU assets and lease liabilities	As of June 27, 2020, and December 28, 2019 total ROU assets and lease liabilities were as follows: Classification Leases June 27, 2020 December 28, 2019 (in thousands) Right- of-use Operating lease assets Operating right-of-use $ 61,420 $ 53,758 Finance lease assets Property, plant and equipment, net 5,814 2,531 Lease Liabilities Current Operating lease liabilities Current operating lease liabilities 7,444 5,168 Finance lease liabilities Accrued expenses and other current liabilities 1,807 546 Non-current Operating lease liabilities Non-current 62,896 53,940 Finance lease liabilities Other liabilities 4,056 2,042
Schedule of gross value and accumulated depreciation of right of use assets	The gross value and accumulated depreciation of ROU assets related to finance leases as of June 27, 2020 and December 28, 2019 were as follows: Finance Leases June 27, 2020 December 28, 2019 (in thousands) Gross value $ 6,694 $ 2,837 Accumulated amortization (880 ) (306 ) Carrying value $ 5,814 $ 2,531
Components of lease cost	Components of lease cost for the thirteen and twenty-six Lease Cost Thirteen weeks ended Twenty-six June 27, June 29, June 27, June 29, 2020 2019 2020 2019 (in thousands) (in thousands) Operating lease cost $ 2,437 $ 1,177 $ 4,852 $ 2,305 Variable lease costs not included in liability 487 273 972 472 Finance lease cost: Amortization of right-of-use 440 43 573 43 Interest on lease liabilities 53 52 75 52 Total finance lease cost $ 493 $ 95 $ 648 $ 95
Maturities of lease liabilities	Maturities of lease liabilities as of June 27, 2020 were as follows: Operating Finance Leases Weighted-Average Remaining Term Operating Leases Finance Leases (in thousands) 2020 $ 4,843 $ 987 2021 9,903 1,982 2022 9,761 1,982 2023 9,709 965 2024 9,470 265 Thereafter 39,523 23 Total lease payments 83,209 6,204 Less imputed interest (based on 3.5% (12,869 ) (341 ) Present value of lease liability $ 70,340 $ 5,863 9.3 3.2

Net Income per Share (Tables)

Net Income per Share (Tables)	6 Months Ended
	Jun. 27, 2020
Computation of Earnings Per Share, Basic	The following table sets forth the computation of basic net income per share using the two-class Thirteen weeks ended Twenty-six June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands, except per share data) (in thousands, except per share data) Net income $ 60,141 $ 27,856 $ 78,375 $ 51,550 Allocation of net income for basic: Class A Common Stock $ 47,930 $ 20,639 $ 61,612 $ 38,161 Class B Common Stock 11,836 6,964 16,237 12,908 Unvested participating shares 375 253 526 481 $ 60,141 $ 27,856 $ 78,375 $ 51,550 Weighted average number of shares for basic: Class A Common Stock 9,720 8,648 9,572 8,627 Class B Common Stock* 2,400 2,918 2,523 2,918 Unvested participating shares 76 106 82 109 12,196 11,672 12,177 11,654 Net income per share for basic: Class A Common Stock $ 4.93 $ 2.39 $ 6.44 $ 4.42 Class B Common Stock $ 4.93 $ 2.39 $ 6.44 $ 4.42 * Change in Class B Common Stock resulted from the conversion of 100,000 shares to Class A Common Stock on August 8, 2019, 145,000 shares to Class A Common Stock on December 13, 2019, 150,000 shares to Class A Common Stock on March 11, 2020 and 215,000 shares to Class A Common Stock on May 6, 2020 with the ending number of shares reflecting the weighted average for the period.
Computation of Earnings Per Share, Diluted	The following table sets forth the computation of diluted net income per share, assuming the conversion of all Class B Common Stock into Class A Common Stock and using the two-class Thirteen weeks ended June 27, 2020 June 29, 20 19 Earnings to Common Shares EPS Earnings to Common Shares EPS (in thousands, except per share data) As reported - basic $ 47,930 9,720 $ 4.93 $ 20,639 8,648 $ 2.39 Add: effect of dilutive potential common shares Share-based awards — 138 — 118 Class B Common Stock 11,836 2,400 6,964 2,918 Net effect of unvested participating shares 4 — 2 — Net income per common share - diluted $ 59,770 12,258 $ 4.88 $ 27,605 11,684 $ 2.36 Twenty-six June 27, 2020 June 29, 20 19 Earnings to Common Shares EPS Earnings to Common Shares EPS (in thousands, except per share data) As reported - basic $ 61,612 9,572 $ 6.44 $ 38,161 8,627 $ 4.42 Add: effect of dilutive potential common shares Share-based awards — 126 — 115 Class B Common Stock 16,237 2,523 12,908 2,918 Net effect of unvested participating shares 5 — 5 — Net income per common share - diluted $ 77,854 12,221 $ 6.37 $ 51,074 11,660 $ 4.38

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 27, 2020
Significant Components of Provisions for Income Taxes	Thirteen weeks ended June 27, June 29 , (in thousands) Summary of income tax provision Tax provision based on net income $ 20,699 $ 10,499 Benefit of ASU 2016-09 (2,335 ) (253 ) Total income tax provision $ 18,364 $ 10,246 Twenty-six June 27, June 29 , (in thousands) Summary of income tax provision Tax provision based on net income $ 25,704 $ 18,408 Benefit of ASU 2016-09 (4,339 ) (2,028 ) Total income tax provision $ 21,365 $ 16,380

Common Stock and Share-Based _2

Common Stock and Share-Based Compensation (Tables)	6 Months Ended
	Jun. 27, 2020
Summary of Stock Options under Equity Plan and Non-Employee Director Plan	Information related to stock options under the Restated Employee Equity Incentive Plan and the Stock Option Plan for Non-Employee Shares Weighted-Average Weighted-Average Remaining Aggregate Intrinsic (in thousands) Outstanding at December 28, 2019 315,678 $ 186.53 Granted 25,870 383.22 Forfeited (2,595 ) 241.84 Expired — — Exercised (57,926 ) 120.81 Outstanding at June 27, 2020 281,027 $ 217.67 6.14 $ 97,280 Exercisable at June 27, 2020 92,818 $ 185.56 5.11 $ 35,110 Vested and expected to vest at 256,784 $ 216.12 6.09 $ 89,287
Stock-Based Compensation Expense Included in Operating Expenses	The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying consolidated statements of comprehensive income: Thirteen weeks ended Twenty-six June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019 (in thousands) (in thousands) Amounts included in advertising, promotional and selling expenses $ 1,147 $ 1,121 $ 1,852 $ 1,598 Amounts included in general and administrative expenses 3,390 2,624 5,251 4,212 Total stock-based compensation expense $ 4,537 $ 3,745 $ 7,103 $ 5,810
Weighted Average Assumptions used to Estimate Fair Value of Stock Options	Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows: 2020 Expected Volatility 32.6 % Risk-free interest rate 1.09 % Expected Dividends 0.0 % Exercise factor 2.12 times Discount for post-vesting restrictions 0.0 %
Summary of Vesting Activities of Shares Issued Under Investment Share Program and Restricted Stock Awards	The following table summarizes vesting activities of shares issued under the investment share program and restricted stock awards: Number of Shares Weighted Average Fair Value Non-vested 122,142 $ 213.52 Granted 40,316 325.12 Vested (45,169 ) 213.12 Forfeited (3,318 ) 241.05 Non-vested 113,971 $ 252.36

COVID-19 Pandemic - Additional

COVID-19 Pandemic - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Reductions in net revenue and increases in other costs
Net effect of COVID-19 on revenue, cost of goods sold and operating expense	$ 78,769		$ 37,932	$ 100,301	$ 67,375
Cost of goods sold	242,514		159,405	425,106	286,516
Operating expenses	130,855		$ 121,070	257,296	$ 216,167
COVID-19 Pandemic [Member]
Reductions in net revenue and increases in other costs
Net effect of COVID-19 on revenue, cost of goods sold and operating expense	$ 4,100	$ 10,000		14,100
Reduction in net revenue				5,800
Other direct costs				8,300
Cost of goods sold				5,600
Operating expenses				$ 2,700

Dogfish Head Brewery Transact_3

Dogfish Head Brewery Transaction - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 03, 2019	Jun. 27, 2020	Dec. 28, 2019	May 08, 2019
Excess of the purchase price paid over the estimated fair values of the assets and liabilities assumed		$ 112,529	$ 112,529
Dogfish Head Brewery [Member]
Business combination fair value		$ 317,700
Business acquisition cash transferred	$ 173,000
Escrow Deposit				$ 158,400
Dogfish Head Brewery [Member]
Business combination consideration	336,000
Business combination fair value	317,736
Business acquisition cash transferred	172,993
Business acquisition value of shares issued	162,999
Fairvalue of trade name	98,500
Excess of the purchase price paid over the estimated fair values of the assets and liabilities assumed	108,846
Deferred tax liabilities assumed	18,437
Dogfish Head Brewery [Member] | Interest Rate Adjustment [Member]
Interest expense rate		3.00%
Dogfish Head Brewery [Member] | Income Tax Rate Adjustment [Member]
Statutory income tax rate		25.60%
Dogfish Head Brewery [Member] | Customer Relationships [Member]
Estimated fair value	$ 3,800	$ 3,800
Estimated use full life	15 years
Dogfish Head Brewery [Member] | Trade Names [Member]
Fairvalue of trade name	$ 98,500	$ 98,500
Restricted Common Class A [Member] | Dogfish Head Brewery [Member]
Business acquisition value of shares issued	$ 163,000
Shares held under escrow deposit	127,146
Shares held under escrow deposit market Value	$ 48,300
Business acquisition Shares issued	429,291	429,291

Dogfish Head Brewery Transact_4

Dogfish Head Brewery Transaction - Fair value of assets acquired and liabilities assumed (Detail) - USD ($) $ in Thousands	Jul. 03, 2019	Jun. 27, 2020	Dec. 28, 2019
Goodwill		$ 112,529	$ 112,529
Dogfish Head Brewery [Member]
Cash and cash equivalents	$ 7,476
Accounts receivable	8,081
Inventories	9,286
Prepaid expenses and other current assets	847
Property, plant and equipment	106,964
Goodwill	108,846
Brand	98,500
Other intangible assets	3,800
Other assets	378
Total assets acquired	344,178
Accounts payable	3,861
Accrued expenses and other current liabilities	4,085
Deferred income taxes	18,437
Other liabilities	59
Total liabilities assumed	26,442
Net assets acquired	317,736
Cash consideration	172,993
Nominal value of equity issued	162,999
Fair Value reduction due to liquidity	(18,256)
Estimated total purchase price	$ 317,736

Dogfish Head Brewery Transact_5

Dogfish Head Brewery Transaction - Unaudited proforma information (Detail) - Line of Credit [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Net revenue	$ 452,138	$ 347,015	$ 782,703	$ 623,755
Net income	$ 60,141	$ 30,359	$ 78,375	$ 55,022
Basic earnings per share	$ 4.93	$ 2.51	$ 6.44	$ 4.55
Diluted earnings per share	$ 4.88	$ 2.46	$ 6.37	$ 4.48

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of intangible assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 27, 2020	Dec. 28, 2019
Gross Carrying Value	$ 104,349	$ 104,399
Accumulated Amortization	(253)	(127)
Net Book Value	104,096	104,272
Trade Names
Gross Carrying Value	100,549	100,599
Net Book Value	$ 100,549	100,599
Customer Relationships
Estimated Useful Life	15 years
Gross Carrying Value	$ 3,800	3,800
Accumulated Amortization	(253)	(127)
Net Book Value	$ 3,547	$ 3,673

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of amortization expense (Detail) $ in Thousands	Jun. 27, 2020USD ($)
Remainder of 2020	$ 127
2021	253
2022	253
2023	253
2024	253
2025	$ 253

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 27, 2020	Jun. 27, 2020	Jul. 03, 2019
Customer Relationships
Useful life Of Finite Lived Intangibles		15 years
Dogfish Head Brewery [Member]
Business Combination Indefinite Lived Intangible Assets Assumed			$ 98,500,000
Dogfish Head Brewery [Member] | Customer Relationships
Business Combination Finite Lived Intangible Assets Assumed	$ 3,800,000	$ 3,800,000	3,800,000
Useful life Of Finite Lived Intangibles		15 years
Intangible Assets Amortization	63,000	$ 126,000
Dogfish Head Brewery [Member] | Trade Names
Business Combination Indefinite Lived Intangible Assets Assumed	$ 98,500,000	$ 98,500,000	$ 98,500,000

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 28, 2019
Sales to domestic distributors as a percentage of total sales	95.00%	95.00%	95.00%	95.00%
Sales to foreign distributors as a percentage of total sales	4.00%	4.00%	4.00%	4.00%
Sales to retail locations as a percentage of total sales	1.00%	1.00%	1.00%	1.00%
Deferred revenue related to product shipped	$ 9		$ 9		$ 7
Reduction in federal excise taxes	3.2	$ 2.1	5.7	$ 3.8
Reimbursements for discounts to distributors	20.4	13.5	28.6	19.7
Accrued federal excise taxes, current	29.8		29.8
Distributors [Member]
Marketing and Advertising Expense	5	5.9	9.5	10.6
Reductions to net revenue	$ 4.8	$ 3.6	$ 9	$ 6.7

Inventories - Components of Inv

Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Current inventory:
Raw materials	$ 62,475	$ 61,522
Work in process	15,161	12,631
Finished goods	30,887	31,885
Total current inventory	108,523	106,038
Long term inventory	20,358	10,048
Total inventory	$ 128,881	$ 116,086

Leases - ROU assets and lease l

Leases - ROU assets and lease liabilities (Detail) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Right-of-use assets
Operating lease assets	$ 61,420	$ 53,758
Finance lease assets	5,814	2,531
Current
Operating lease liabilities	7,444	5,168
Non-current
Operating lease liabilities	62,896	53,940
Operating Right Of Use Assets [Member]
Right-of-use assets
Operating lease assets	61,420	53,758
Property, Plant and Equipment [Member]
Right-of-use assets
Finance lease assets	5,814	2,531
Current Operating Lease Liabilities [Member]
Current
Operating lease liabilities	7,444	5,168
Accrued Expenses And Other Current Liabilities [Member]
Current
Finance lease liabilities	1,807	546
Non Current Operating Lease Liabilities [Member]
Non-current
Operating lease liabilities	62,896	53,940
Other Liabilities [Member]
Non-current
Finance lease liabilities	$ 4,056	$ 2,042

Leases - Gross Value of Accumul

Leases - Gross Value of Accumulated Depreciation Of Right Of Use Assets (Details). - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Finance Lease, Gross value	$ 6,694	$ 2,837
Finance Lease, Accumulated amortization	(880)	(306)
Finance Lease, Carrying value	$ 5,814	$ 2,531

Leases - Components of lease co

Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 2,437	$ 1,177	$ 4,852	$ 2,305
Variable lease costs not included in liability	487	273	972	472
Finance lease cost:
Amortization of right-of-use asset	440	43	573	43
Interest on lease liabilities	53	52	75	52
Total finance lease cost	$ 493	$ 95	$ 648	$ 95

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) $ in Thousands	Jun. 27, 2020USD ($)
Operating Leases
2020	$ 4,843
2021	9,903
2022	9,761
2023	9,709
2024	9,470
Thereafter	39,523
Total lease payments	83,209
Less imputed interest	(12,869)
Present value of lease liability	$ 70,340
Operating Lease, Weighted Average Discount Rate, Percent	3.50%
Operating Lease Weighted-Average Remaining Term
Lease Weighted Average Remaining Lease Term	9 years 3 months 18 days
Finance Lease Liabilities, Payments, Due
2020	$ 987
2021	1,982
2022	1,982
2023	965
2024	265
Thereafter	23
Total lease payments	6,204
Less imputed interest	(341)
Present value of lease liability	$ 5,863
Finance Lease, Weighted Average Remaining Lease Term	3 years 2 months 12 days
Finance Lease, Weighted Average Discount Rate, Percent	3.50%

Net Income per Share - Computat

Net Income per Share - Computation of Earnings Per Share, Basic (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 27, 2020	Mar. 28, 2020	Jun. 29, 2019	Mar. 30, 2019	Jun. 27, 2020	Jun. 29, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 60,141	$ 18,234	$ 27,856	$ 23,694	$ 78,375	$ 51,550
Allocation of net income for basic:
Allocation of net income for basic common stock	$ 60,141		$ 27,856		$ 78,375	$ 51,550
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	12,196		11,672		12,177	11,654
Net income per share for basic:
Net income per common share — basic	$ 4.93		$ 2.39		$ 6.44	$ 4.42
Common Class A
Allocation of net income for basic:
Allocation of net income for basic common stock	$ 47,930		$ 20,639		$ 61,612	$ 38,161
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	9,720		8,648		9,572	8,627
Net income per share for basic:
Net income per common share — basic	$ 4.93		$ 2.39		$ 6.44	$ 4.42
Common Class B
Allocation of net income for basic:
Allocation of net income for basic common stock	$ 11,836		$ 6,964		$ 16,237	$ 12,908
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	2,400		2,918		2,523	2,918
Net income per share for basic:
Net income per common share — basic	$ 4.93		$ 2.39		$ 6.44	$ 4.42
Unvested participating shares
Allocation of net income for basic:
Allocation of net income for basic unvested participating shares	$ 375		$ 253		$ 526	$ 481
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	76		106		82	109

Net Income per Share - Comput_2

Net Income per Share - Computation of Earnings Per Share, Basic (Parenthetical) (Detail) - shares	May 06, 2020	Mar. 11, 2020	Dec. 13, 2019	Aug. 08, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion of Class B Common Stock into Class A Common Stock	215,000	150,000	145,000	100,000

Net Income per Share - Comput_3

Net Income per Share - Computation of Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Allocation of net income for basic common stock	$ 60,141	$ 27,856	$ 78,375	$ 51,550
Add: effect of dilutive potential common shares Share-based awards	138	118	126	115
Earnings to Common Shareholders, Net effect of unvested participating shares	$ 4	$ 2	$ 5	$ 5
Earnings to Common Shareholders, Net income per common share — diluted	$ 59,770	$ 27,605	$ 77,854	$ 51,074
Weighted-average number of common shares — basic	12,196	11,672	12,177	11,654
Weighted-average number of common shares — diluted	12,258	11,684	12,221	11,660
Net income per common share — basic	$ 4.93	$ 2.39	$ 6.44	$ 4.42
Net income per common share — diluted	$ 4.88	$ 2.36	$ 6.37	$ 4.38
Common Class A
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Allocation of net income for basic common stock	$ 47,930	$ 20,639	$ 61,612	$ 38,161
Weighted-average number of common shares — basic	9,720	8,648	9,572	8,627
Net income per common share — basic	$ 4.93	$ 2.39	$ 6.44	$ 4.42
Common Class B
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Allocation of net income for basic common stock	$ 11,836	$ 6,964	$ 16,237	$ 12,908
Class B Common Stock	2,400	2,918	2,523	2,918
Earnings to Common Shareholders, Class B Common Stock	$ 11,836	$ 6,964	$ 16,237	$ 12,908
Weighted-average number of common shares — basic	2,400	2,918	2,523	2,918
Net income per common share — basic	$ 4.93	$ 2.39	$ 6.44	$ 4.42
Net income per common share — diluted	$ 4.88	$ 2.36	$ 6.37	$ 4.38

Net Income per Share - Addition

Net Income per Share - Additional Information (Detail)	Mar. 01, 2020	Mar. 01, 2019	Jan. 01, 2019	Jun. 27, 2020employeeshares	Jun. 29, 2019shares	Jun. 27, 2020employeeshares	Jun. 29, 2019shares
Investment Share Program
Earnings Per Share Note [Line Items]
Vesting period						5 years
Investment Share Program | Maximum
Earnings Per Share Note [Line Items]
Requirement tenure of employee for investment share program, purchase shares at discount						2 years
Discount from current market value						40.00%
Investment Share Program | Minimum
Earnings Per Share Note [Line Items]
Requirement tenure of employee for investment share program, purchase shares at discount						1 year
Discount from current market value						20.00%
Restricted Stock Awards
Earnings Per Share Note [Line Items]
Vesting period	4 years	4 years	5 years
Common Class A
Earnings Per Share Note [Line Items]
Antidilutive securities excluded from computation of earnings per share				23,000	10,000	16,000	6,000
Common Class A | Performance-Based Awards
Earnings Per Share Note [Line Items]
Number of shares not included because the performance criteria was not expected to be met							18,000
Common Class A | Performance-Based Awards | Key employee
Earnings Per Share Note [Line Items]
Number Of Employees | employee				1		1

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Thousands	6 Months Ended
	Jun. 27, 2020USD ($)vendor	Dec. 28, 2019USD ($)
Commitments and Contingencies Disclosure [Line Items]
Contractual obligations	$ 225,100
Prepaid brewing service fees current	22,693	$ 12,077
Prepaid Brewing Fees [Member]
Commitments and Contingencies Disclosure [Line Items]
Prepaid brewing service fees current	6,400
Prepaid brewing service fess non current	22,800
Prepaid brewing service fees	29,200
Equipment and machinery
Commitments and Contingencies Disclosure [Line Items]
Contractual obligations	61,500
Lease commitments outstanding	12,300
Third Party Brewery
Commitments and Contingencies Disclosure [Line Items]
Capital improvement	$ 8,000
Minimum
Commitments and Contingencies Disclosure [Line Items]
Company's current brewing and packaging percentage	60.00%
Barley, Wheat and Malt
Commitments and Contingencies Disclosure [Line Items]
Number of suppliers | vendor	3
Purchase commitments outstanding	$ 21,300
Annual commitement for purchases	1,000
Hops
Commitments and Contingencies Disclosure [Line Items]
Purchase commitments	31,000
Hops | Barley and Wheat
Commitments and Contingencies Disclosure [Line Items]
Contractual obligations	52,300
Advertising contract [Member]
Commitments and Contingencies Disclosure [Line Items]
Contractual obligations	62,600
Other Ingredients [Member]
Commitments and Contingencies Disclosure [Line Items]
Contractual obligations	35,800
Other Commitments
Commitments and Contingencies Disclosure [Line Items]
Contractual obligations	$ 12,900

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Benefit (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Summary of income tax provision
Tax provision based on net income	$ 20,699	$ 10,499	$ 25,704	$ 18,408
Benefit of ASU 2016-09	(2,335)	(253)	(4,339)	(2,028)
Total income tax provision	$ 18,364	$ 10,246	$ 21,365	$ 16,380

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019	Dec. 28, 2019
Income Taxes [Line Items]
Accrued interest and penalties	$ 0.2		$ 0.2		$ 0.1
Unrecognized income tax benefits	$ 0.8		$ 0.8		$ 0.8
Effective Income Tax Rate Reconciliation, Percent, Total	23.40%	26.90%	21.40%	24.10%
State and Local Jurisdiction | Minimum
Income Taxes [Line Items]
Income tax return examination period			3 years
State and Local Jurisdiction | Maximum
Income Taxes [Line Items]
Income tax return examination period			4 years

Revolving Line of Credit - Addi

Revolving Line of Credit - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 12, 2020	Jun. 27, 2020	Jun. 29, 2019	Mar. 28, 2020
Debt Instrument [Line Items]
Repayment of Line of Credit		$ 100,000	$ 48,500
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, current borrowing capacity				$ 150,000
Line of credit, expiration date		Mar. 31, 2023
Line of credit	$ 100,000
Line of credit, unused balance		$ 150,000
Debt instrument stated percentage	1.15%
Debt instrument variable rate basis	LIBOR rate of 0.70% plus 0.45%
Repayment of Line of Credit		$ 100,000
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument basis spread on variable rate	0.45%

Fair Value Measures - Additiona

Fair Value Measures - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 27, 2020	Dec. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 86,716	$ 36,670
Money market fund	$ 83,000	$ 29,500

Common Stock and Stock-Based Co

Common Stock and Stock-Based Compensation - Summary of Stock Options under Employee Equity Incentive Plan and Stock Option Plan for Non-Employee Directors (Detail) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 27, 2020
Shares
Outstanding at beginning of period	315,678
Granted	25,870
Forfeited	(2,595)
Exercised	(57,926)
Outstanding at end of period	281,027
Exercisable at end of period	92,818
Vested and expected to vest at end of period	256,784
Weighted-Average Exercise Price
Outstanding at beginning of period	$ 186.53
Granted	383.22
Forfeited	241.84
Exercised	120.81
Outstanding at end of period	217.67
Exercisable at end of period	185.56
Vested and expected to vest at end of period	$ 216.12
Weighted-Average Remaining Contractual Term
Outstanding at end of period	6 years 1 month 20 days
Exercisable at end of period	5 years 1 month 9 days
Vested and expected to vest at end of period	6 years 1 month 2 days
Aggregate Intrinsic Value
Outstanding at end of period	$ 97,280
Exercisable at end of period	35,110
Vested and expected to vest at end of period	$ 89,287

Common Stock and Stock-Based _2

Common Stock and Stock-Based Compensation - Summary Of Weighted Average Assumptions used to Estimate Fair Value of Stock Options (Detail)	6 Months Ended
	Jun. 27, 2020Times
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	32.60%
Risk-free interest rate	1.09%
Expected dividends	0.00%
Exercise factor	2.12
Discount for post-vesting restrictions	0.00%

Common Stock and Stock-Based _3

Common Stock and Stock-Based Compensation - Summary of Vesting Activities for Investment Share Program and Restricted Stock Awards (Detail)	6 Months Ended
	Jun. 27, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested at beginning of period | shares	122,142
Granted | shares	40,316
Vested | shares	(45,169)
Forfeited | shares	(3,318)
Non-vested at end of period | shares	113,971
Non-vested at beginning of period | $ / shares	$ 213.52
Granted | $ / shares	325.12
Vested | $ / shares	213.12
Forfeited | $ / shares	241.05
Non-vested at end of period | $ / shares	$ 252.36

Common Stock and Share-Based _3

Common Stock and Share-Based Compensation - Additional Information (Detail) - $ / shares	May 14, 2020	Mar. 02, 2020	Mar. 01, 2020	Jan. 31, 2020	Mar. 01, 2019	Jan. 01, 2019	Jun. 27, 2020	Mar. 28, 2020	Dec. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options granted in period							40,316
Stock option outstanding							281,027		315,678
Weighted average fair value of stock awards							$ 325.12
Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option outstanding							3,000	40,000
Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period	2,900			978
Options granted in period - weighted average fair value	$ 198.14			$ 146.87
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years		4 years	5 years
Other than options granted in period			15,011
Weighted average fair value of stock awards			$ 370.79
Restricted Stock Awards | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Year		2024
Other than options granted in period		2,696
Weighted average fair value of stock awards		$ 370.79
Employee Stock Compensation Plan | Performance-Based Awards | Senior Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period			14,962
Options granted in period - weighted average fair value			$ 142.25
Employee Stock Compensation Plan | Performance-Based Awards | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period		7,030
Options granted in period - weighted average fair value		$ 142.23
Employee Stock Compensation Plan | Investment Share Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares employees elected to purchase			9,127
Weighted average fair value of stock awards			$ 169.43
Restricted Stock And Performance Based Awards | Senior Management
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options granted in period			13,482

Common Stock and Share-Based _4

Common Stock and Share-Based Compensation - Stock-Based Compensation Expense Included in Operating Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 27, 2020	Jun. 29, 2019	Jun. 27, 2020	Jun. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 4,537	$ 3,745	$ 7,103	$ 5,810
Advertising, promotional and selling expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,147	1,121	1,852	1,598
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 3,390	$ 2,624	$ 5,251	$ 4,212

Employee Retirement Plans - Add

Employee Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions	Apr. 30, 2019	Dec. 28, 2019
Pension Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Fair value of plan assets at end of fiscal year		$ 3.9
Benefit obligation at end of fiscal year		$ 6.7
Union Number 1199 Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Estimated cost of termination of retirement pension plan	$ 2.3

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Jun. 27, 2020USD ($)	Jun. 27, 2020USD ($)
Related Party Transaction [Line Items]
Total payments due	$ 83,209,000	$ 83,209,000
Transaction with related party expenses		$ 10,000
Dogfish Head Brewery
Related Party Transaction [Line Items]
Lease term of contract	10 years	10 years
Total payments due	$ 3,600,000	$ 3,600,000
Related party expense	$ 91,000	$ 182,000