The Boston Beer Company, Inc. (SAM) 10-Q 22 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 26, 2020	Oct. 16, 2020
Document Information [Line Items]
Document Transition Report	false
Document Quarterly Report	true
Document Type	10-Q
Document Period End Date	Sep. 26, 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	Q3
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		9,934,625
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,307,983

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Current Assets:
Cash and cash equivalents	$ 157,130	$ 36,670
Accounts receivable	93,809	54,404
Inventories	123,831	106,038
Prepaid expenses and other current assets	22,214	12,077
Income tax receivable	3,041	9,459
Total current assets	400,025	218,648
Property, plant and equipment, net	588,977	541,068
Operating right-of-use assets	59,991	53,758
Goodwill	112,529	112,529
Intangible assets	103,994	104,272
Other assets	46,820	23,782
Total assets	1,312,336	1,054,057
Current Liabilities:
Accounts payable	108,600	76,374
Accrued expenses and other current liabilities	115,604	99,107
Current operating lease liabilities	7,735	5,168
Total current liabilities	231,939	180,649
Deferred income taxes, net	89,170	75,010
Non-current operating lease liabilities	61,184	53,940
Other liabilities	11,513	8,822
Total liabilities	393,806	318,421
Commitments and Contingencies (See Note K)
Stockholders' Equity:
Additional paid-in capital	594,427	571,784
Accumulated other comprehensive loss, net of tax	(562)	(1,669)
Retained earnings	324,543	165,400
Total stockholders' equity	918,530	735,636
Total liabilities and stockholders' equity	1,312,336	1,054,057
Common Class A
Stockholders' Equity:
Common Stock	99	94
Common Class B
Stockholders' Equity:
Common Stock	$ 23	$ 27

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 26, 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	9,868,649	9,370,526
Common Stock, shares outstanding	9,868,649	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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Revenue	$ 525,249	$ 402,691	$ 1,358,563	$ 1,008,893
Less excise taxes	32,457	24,225	83,068	60,369
Net revenue	492,792	378,466	1,275,495	948,524
Cost of goods sold	252,207	190,631	677,313	477,147
Gross profit	240,585	187,835	598,182	471,377
Operating expenses:
Advertising, promotional and selling expenses	108,023	96,570	306,250	262,372
General and administrative expenses	30,340	31,429	87,054	81,552
Impairment of assets	441		2,796	243
Total operating expenses	138,804	127,999	396,100	344,167
Operating income	101,781	59,836	202,082	127,210
Other income (expense), net:
Interest (expense) income, net	(20)	(138)	(169)	472
Other income (expense), net	190	(764)	(222)	(818)
Total other income (expense), net	170	(902)	(391)	(346)
Income before income tax provision	101,951	58,934	201,691	126,864
Income tax provision	21,183	14,205	42,548	30,585
Net income	$ 80,768	$ 44,729	$ 159,143	$ 96,279
Net income per common share - basic	$ 6.61	$ 3.70	$ 13.05	$ 8.16
Net income per common share - diluted	$ 6.51	$ 3.65	$ 12.90	$ 8.07
Weighted-average number of common shares - basic	12,221	12,099	12,191	11,802
Weighted-average number of common shares - diluted	12,333	12,150	12,259	11,823
Net income	$ 80,768	$ 44,729	$ 159,143	$ 96,279
Other comprehensive income, net of tax:
Foreign currency translation adjustment	61	1	(10)	43
Defined benefit plans liability adjustment	1,117		1,117
Total other comprehensive income, net of tax	1,178	1	1,107	43
Comprehensive income	$ 81,946	$ 44,730	$ 160,250	$ 96,322
Common Class A
Other income (expense), net:
Net income per common share - basic	$ 6.61	$ 3.70	$ 13.05	$ 8.16
Weighted-average number of common shares - basic	9,846	9,136	9,663	8,797
Common Class B
Other income (expense), net:
Net income per common share - basic	$ 6.61	$ 3.70	$ 13.05	$ 8.16
Net income per common share - diluted	$ 6.51	$ 3.65	$ 12.90	$ 8.07
Weighted-average number of common shares - basic	2,308	2,862	2,451	2,899

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	96,279
Currency translation adjustment	43
Balance at Sep. 28, 2019	718,980	$ 92	$ 28	568,047	(1,154)	151,967
Balance (in shares) at Sep. 28, 2019		9,216,000	2,818,000
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
Net income	$ 44,729					44,729
Stock options exercised and restricted shares activities (in shares)	31,000
Stock options exercised and restricted shares activities	$ 3,473			3,473
Stock-based compensation expense	3,233			3,233
Shares issued in connection with Dogfish Head merger (in shares)		430,000
Shares issued in connection with Dogfish Head merger	144,743	$ 4		144,739
Conversion from Class B to Class A (in shares)		100,000	(100,000)
Conversion from Class B to Class A		$ 1	$ (1)
Currency translation adjustment	1				1
Balance at Sep. 28, 2019	718,980	$ 92	$ 28	568,047	(1,154)	151,967
Balance (in shares) at Sep. 28, 2019		9,216,000	2,818,000
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	$ 159,143
Stock options exercised and restricted shares activities (in shares)	91,606
Defined benefit plans liability adjustment, net of tax	$ 1,117
Currency translation adjustment	(10)
Balance at Sep. 26, 2020	918,530	$ 99	$ 23	594,427	(562)	324,543
Balance (in shares) at Sep. 26, 2020		9,869,000	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
Net income	80,768					80,768
Stock options exercised and restricted shares activities (in shares)		34,000
Stock options exercised and restricted shares activities	5,469	$ 1		5,468
Stock-based compensation expense	3,632			3,632
Defined benefit plans liability adjustment, net of tax	1,117				1,117
Currency translation adjustment	61				61
Balance at Sep. 26, 2020	$ 918,530	$ 99	$ 23	$ 594,427	$ (562)	$ 324,543
Balance (in shares) at Sep. 26, 2020		9,869,000	2,308,000

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Thousands	3 Months Ended
	Sep. 26, 2020USD ($)
Defined benefit plans liability adjustment, tax	$ 378

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Cash flows provided by operating activities:
Net income	$ 159,143	$ 96,279
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48,937	41,841
Impairment of assets	2,796	243
(Gain) loss on disposal of property, plant and equipment	(173)	449
Change in ROU assets	5,465	2,734
Credit loss expense	746	53
Stock-based compensation expense	10,735	9,043
Deferred income taxes	14,160	14,047
Changes in operating assets and liabilities:
Accounts receivable	(39,775)	(26,532)
Inventories	(23,072)	(16,847)
Prepaid expenses, income tax receivable and other current assets	(4,043)	(1,173)
Other assets	(17,827)	(12,730)
Accounts payable	33,020	22,388
Accrued expenses and other current liabilities	18,024	14,949
Change in operating lease liability	(1,887)	(2,270)
Other liabilities	2,671	207
Net cash provided by operating activities	208,920	142,681
Cash flows used in investing activities:
Purchases of property, plant and equipment	(100,341)	(66,760)
Proceeds from disposal of property, plant and equipment	72	144
Investment in Dogfish Head, net of cash acquired	0	(165,517)
Other investing activities	392	(10)
Net cash used in investing activities	(99,877)	(232,143)
Cash flows provided by financing activities:
Proceeds from exercise of stock options and sale of investment shares	14,015	8,437
Cash paid on note payable and finance leases	(906)	(246)
Cash borrowed on line of credit	100,000	97,000
Cash paid on line of credit	(100,000)	(97,000)
Payment of tax withholdings on stock-based payment awards and investment shares	(1,692)
Net cash provided by (used in) financing activities	11,417	8,191
Change in cash and cash equivalents	120,460	(81,271)
Cash and cash equivalents at beginning of year	36,670	108,399
Cash and cash equivalents at end of period	157,130	27,128
Supplemental disclosure of cash flow information:
Non cash consideration issued in Dogfish Head Brewery Transaction (Refer to Note C)		144,743
Income taxes paid	17,309	16,759
Cash paid for amounts included in measurement of lease liabilities
Operating cash flows from operating leases	6,949	3,178
Operating cash flows from finance leases	106	258
Financing cash flows from finance leases	838	7
Right-of-use assets obtained in exchange for operating lease obligations	11,698	41,678
Right-of-use assets obtained in exchange for finance lease obligations	2,689	2,837
Interest paid on revolving credit facility	246	349
Change in purchase of property, plant and equipment in accounts payable and accrued expenses	$ (3,390)	$ (2,076)

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 26, 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 September 26, 2020, and the unaudited 10-K In the opinion of the Company’s management, the Company’s unaudited consolidated balance sheet as of September 26, 2020 and the results of its consolidated operations, stockholders’ equity, and cash flows for the interim periods ended September 26, 2020 and September 28, 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	9 Months Ended
	Sep. 26, 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 COVID-19

Dogfish Head Brewery Transactio

Dogfish Head Brewery Transaction	9 Months Ended
	Sep. 26, 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 timing of the release of these escrowed shares is primarily related to the continued employment with the Company of Samuel A. Calagione, III, one of the two Dogfish Head founders. The Company’s allocation of consideration exchanged to the net tangible and intangible assets acquired and liabilities assumed in the Transaction is based on estimated fair values as of July 3, 2019, and was finalized on July 3, 2020. 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 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) 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. (ii) The tax effects of the pro forma adjustments at an estimated statutory rate of 25.6%. Thirteen weeks ended Thirty-nine weeks ended September 28, September 28, (in thousands) (in thousands) Net revenue $ 379,205 $ 1,002,959 Net income $ 46,445 $ 103,105 Basic earnings per share $ 3.84 $ 8.74 Diluted earnings per share $ 3.79 $ 8.64

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 26, 2020
Goodwill and Intangible Assets	D. Goodwill and Intangible Assets The Company’s intangible assets as of September 26, 2020 and December 28, 2019 were as follows: As of September 26, 2020 As of December 28, 2019 Estimated Gross Accumulated Net Book Value Gross Accumulated Net Book (in thousands ) Custmer Relationships 15 $ 3,800 $ (316 ) $ 3,484 $ 3,800 $ (127 ) $ 3,673 Trade Names Indefinite 100,510 — 100,510 100,599 — 100,599 Total intangible assets $ 104,310 $ (316 ) $ 103,994 $ 104,399 $ (127 ) $ 104,272 As disclosed within Note C, the Company acquired intangible assets as part of the Dogfish Head transaction that consist of $98.5 million for the value of the Dogfish Head brand name and $3.8 million for the value of customer relationships. The customer relationship intangible will be amortized on a straight-line basis over the 15 year useful life. Amortization expense in the thirteen and thirty-nine weeks ended September 26, 2020 was approximately $63,000 and $190,000, respectively. 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 $ 63 2021 253 2022 253 2023 253 2024 253 2025 253

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 26, 2020
Recent Accounting Pronouncements	E. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The guidance requires companies to measure credit losses utilizing a methodology that reflects expected credit losses and requires the consideration of a broader range of reasonable and supportable information to inform credit loss estimates. ASU 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The Company adopted the standard in the first quarter of fiscal 2020 and there was no material impact. In January 2017, the FASB issued ASU No. 2017-04, No. 2017-04, two-step 2017-04 2017-04 Accounting Pronouncements Not Yet Effective In December 2019, the FASB issued ASU 2019-12, 2019-12

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 26, 2020
Revenue Recognition	F. Revenue Recognition During the thirty-nine weeks ended September 26, 2020 and September 28, 2019 approximately 95% of the Company’s revenue was from shipments of its products to domestic distributors, 4% from shipments to international distributors, primarily located in Canada and 1% was from retail beer, cider, and merchandise sales at the Company’s retail locations. 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 September 26, 2020 and December 28, 2019, the Company has deferred $11.5 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 $19.0 million and $47.6 million for the thirteen and thirty-nine weeks ended September 26, 2020, respectively. The reimbursements for discounts to Distributors are recorded as reductions to net revenue and were $14.8 million and $34.5 million for the thirteen and thirty-nine weeks ended September 28, 2019, respectively. The agreed-upon discount rates are applied to certain distributors’ sales to retailers, based on volume metrics, in order to determine the total discounted amount. The computation of the discount allowance requires that management make certain estimates and assumptions that affect the timing and amounts of revenue and liabilities recorded. Actual promotional discounts owed and paid have historically been in line with allowances recorded by the Company, however, the amounts could differ from the estimated 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 , promoting the Company’s products may include, but are not limited to point-of-sale 8 The Further Consolidation Appropriations Act, 2020 extended reductions in federal excise taxes as a result of the Tax Cuts and Jobs Act of 2017 through December 31, 2020. The Company benefited from a reduction in federal excise taxes of $4.0 million and $2.8 million for the thirteen weeks ended September 26, 2020 and September 28, 2019, respectively. The Company benefited from a reduction in federal excise taxes of $9.8 million and $6.6 million for the thirty-nine weeks ended September 26, 2020 and September 28, 2019 respectively. On March 31, 2020, The Alcohol and Tobacco Tax and Trade Bureaus (“TTB”) released TTB Industry Circular 2020-2, The Company believes distributor inventory as of September 26, 2020 averaged approximately 2 weeks on hand and was lower than prior year levels due to depletions outpacing supply constrained shipments. The Company expects wholesaler inventory levels in terms of weeks on hand to remain between 1 and 4 weeks for the remainder

Inventories

Inventories	9 Months Ended
	Sep. 26, 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 September 26, December 28, 2020 2019 (in thousands) Current inventory: Raw materials $ 61,705 $ 61,522 Work in process 14,287 12,631 Finished goods 47,839 31,885 Total current inventory 123,831 106,038 Long term inventory 15,327 10,048 Total inventory $ 139,158 $ 116,086

Leases

Leases	9 Months Ended
	Sep. 26, 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 September 26, 2020, and December 28, 2019 total ROU assets and lease liabilities were as follows: Classification Leases September 26, 2020 December 28, 2019 (in thousands) Right-of-use Operating lease assets Operating right-of-use $ 59,991 $ 53,758 Finance lease assets Property, plant and equipment, net 4,389 2,531 Lease Liabilities Current Operating lease liabilities Current operating lease liabilities 7,735 5,168 Finance lease liabilities Accrued expenses and other current liabilities 1,441 546 Non-current Operating lease liabilities Non-current 61,184 53,940 Finance lease liabilities Other liabilities 2,997 2,042 The gross value and accumulated depreciation of ROU assets related to finance leases as of September 26, 2020 and December 28, 2019 were as follows: Finance Leases September 26, December 28, 2020 2019 (in thousands) Gross value $ 5,525 $ 2,837 Accumulated amortization (1,136 ) (306 ) Carrying value $ 4,389 $ 2,531 Components of lease cost for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019 were as follows: Lease Cost Thirteen weeks ended Thirty-nine weeks ended September 26, September 28, September 26, September 28, 2020 2019 2020 2019 (in thousands) (in thousands) Operating lease cost $ 2,425 $ 1,375 $ 7,277 $ 3,680 Variable lease costs not included in liability 349 171 1,321 643 Finance lease cost: Amortization of right-of-use 257 131 830 174 Interest on lease liabilities 31 206 106 258 Total finance lease cost $ 288 $ 337 $ 936 $ 432 Maturities of lease liabilities as of September 26, 2020 were as follows: Operating Finance Weighted-Average Remaining Term in Years Operating Leases Finance Leases (in thousands) 2020 $ 2,464 $ 391 2021 10,094 1,572 2022 9,908 1,572 2023 9,737 863 2024 9,470 265 Thereafter 39,523 22 Total lease payments 81,196 4,685 Less imputed interest (based on 3.5% weighted (12,277 ) (247 ) Present value of lease liability $ 68,919 $ 4,438 9.0 3.1

Net Income per Share

Net Income per Share	9 Months Ended
	Sep. 26, 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 unsecured non-employee re-election The number of option shares granted to 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 Thirty-nine weeks ended September 26, September 28, September 26, September 28, 2020 2019 2020 2019 (in thousands, except per share data) (in thousands, except per share data) Net income $ 80,768 $ 44,729 $ 159,143 $ 96,279 Allocation of net income for basic: Class A Common Stock $ 65,074 $ 33,776 $ 126,146 $ 71,761 Class B Common Stock 15,254 10,581 31,996 23,652 Unvested participating shares 440 372 1,001 866 $ 80,768 $ 44,729 $ 159,143 $ 96,279 Weighted average number of shares for basic: Class A Common Stock 9,846 9,136 9,663 8,797 Class B Common Stock* 2,308 2,862 2,451 2,899 Unvested participating shares 67 101 77 106 12,221 12,099 12,191 11,802 Net income per share for basic: Class A Common Stock $ 6.61 $ 3.70 $ 13.05 $ 8.16 Class B Common Stock $ 6.61 $ 3.70 $ 13.05 $ 8.16 *Change in Class B Common Stock resulted from the conversion of 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 September 26, 2020 September 28, 2019 Earnings to Common EPS Earnings to Common EPS (in thousands, except per share data) As reported—basic $ 65,074 9,846 $ 6.61 $ 33,776 9,136 $ 3.70 Add: effect of dilutive potential common shares Share-based awards — 179 — 152 Class B Common Stock 15,254 2,308 10,581 2,862 Net effect of unvested participating shares 6 — 4 — Net income per common share—diluted $ 80,334 12,333 $ 6.51 $ 44,361 12,150 $ 3.65 Thirty-nine weeks ended September 26, 2020 September 28, 2019 Earnings to Common EPS Earnings to Common EPS (in thousands, except per share data) As reported—basic $ 126,146 9,663 $ 13.05 $ 71,761 8,797 $ 8.16 Add: effect of dilutive potential common shares Share-based awards — 145 — 127 Class B Common Stock 31,996 2,451 23,652 2,899 Net effect of unvested participating shares 12 — 8 — Net income per common share—diluted $ 158,154 12,259 $ 12.90 $ 95,421 11,823 $ 8.07 During the thirteen September weighted options

Comprehensive Income or Loss

Comprehensive Income or Loss	9 Months Ended
	Sep. 26, 2020
Comprehensive Income or Loss	J. Comprehensive Income or Loss Comprehensive income or loss represents net income or loss, plus a a

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 26, 2020
Commitments and Contingencies	K. Commitments and Contingencies Contract Obligations As of September 26, 2020, projected cash outflows under non-cancelable o Commitments (in thousands) Ingredients $ 130,933 Equipment and machinery 73,774 Brand support 62,496 Other 12,378 Total contractual obligations $ 279,581 The majority of these contract obligations are for the 2020 and 2021 fiscal years with the remainder extending no later than the 2026 fiscal year. Currently, the Company brews and packages approximately 65 Pursuant to these arrangements, the Company generally supplies raw materials and packaging to those brewing companies, and incurs conversion fees for labor at the time the liquid is produced and packaged. The Company has made these third-party brewing facilities that it expenses over the period of the contracts. As of September 26, 2020, the Company had prepaid brewing service fees of $9.0 million in prepaid expenses and other current assets and $30.2 million in other assets, long-term. The Company plans to expense the total amount of $39.2 million over contract periods ending December 31, 2024. The Company is also obligated to meet annual minimum volume commitments in conjunction with certain of its production arrangements and is subject to contractual shortfall fees if these annual minimum volume commitments are not met. At September 26, 2020, if volume for the remaining term of the production arrangements were zero, the contractual shortfall fees would total $60.9 million through December 31, 2024. Based on current production volume projections, the Company believes that it will meet all annual volume commitments under these production arrangements and will not incur any shortfall fees. If future volume projections are reduced below the minimum annual volume commitments and the Company estimates that shortfall fees will be incurred, the Company will expense the estimated shortfall fees in the period when incurring the shortfall fees becomes probable. Subsequent to September 26, 2020, the Company entered into a production arrangement with a third-party brewing company which includes up-front The Company is in the process of assessing the impact the COVID-19 Litigation The Company litigation results

Income Taxes

Income Taxes	9 Months Ended
	Sep. 26, 2020
Income Taxes	L. Income Taxes As of September 26, 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 The Internal Revenue Service completed an examination of the Company’s 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 Company was not under any income tax audits as of September 26, 2020. The The following table provides a summary of the income tax provision for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019: Thirteen weeks ended September 26, September 28, 2020 2019 (in thousands) Summary of income tax provision Tax provision based on net income $ 26,325 $ 16,047 Benefit of ASU 2016-09 (5,142 ) (1,842 ) Total income tax provision $ 21,183 $ 14,205 Thirty-nine weeks ended September 26, September 28, 2020 2019 (in thousands) Summary of income tax provision Tax provision based on net income $ 52,029 $ 34,455 Benefit of ASU 2016-09 (9,481 ) (3,870 ) Total income tax provision $ 42,548 $ 30,585 The Company’s effective tax rate for the thirteen weeks ended September 26, 2020, decreased to 20.8% from 24.1% for the thirteen 2016-09. 2016-09.

Revolving Line of Credit

Revolving Line of Credit	9 Months Ended
	Sep. 26, 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 to extend the scheduled expiration date to March 31, 2023. As of September 26, 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 $150.0 million on the line of credit was available to the Company for future borrowing.

Fair Value Measures

Fair Value Measures	9 Months Ended
	Sep. 26, 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 their cost, which approximates fair value, because of their short-term nature. At September 26, 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 September 26, 2020 and December 28, 2019, the Company’s cash and cash equivalents balance was $157.1 million and $36.7 million, respectively, including money market funds amounting to $152.2 million and $29.5 million, respectively.

Common Stock and Share-Based Co

Common Stock and Share-Based Compensation	9 Months Ended
	Sep. 26, 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 Weighted Aggregate Outstanding at December 28, 2019 315,678 $ 186.53 Granted 25,870 383.22 Forfeited (2,595 ) 241.84 Expired — — Exercised (91,606 ) 137.55 Outstanding at September 26, 2020 247,347 $ 224.66 6.08 $ 161,050 Exercisable at September 26, 2020 59,138 $ 196.52 5.05 $ 40,170 Vested and expected to vest at September 26, 2020 223,104 $ 223.63 6.04 $ 145,495 Of the total options outstanding at September 26, 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, of which all shares vest immediately. . On March 1, 2020, the Company granted performance-based stock options to purchase an aggregate of 14,962 shares of the Company’s Class A Common Stock with a weighted average fair value of $142.25 per share to senior management. On March 2, 2020, the Company granted performance-based stock options to purchase an aggregate of 7,030 shares of the Company’s Class A Common Stock with a weighted average fair value of $142.23 per share to the Company’s newly appointed Chief People Officer. 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 1.1% Expected Dividends 0.0% Exercise factor 2.1 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 Non-vested 122,142 $ 213.52 Granted 42,455 349.95 Vested (45,860 ) 214.23 Forfeited (4,488 ) 236.78 Non-vested 114,249 $ 263.02 Of the total shares outstanding at September 26, 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, all Additionally, performance-based vesting conditions. On March 1, 2020, employees elected to purchase 9,127 shares under the Company’s investment share program, under which shares of the Company’s Class A Common Stock are sold to employees at a discount. weighted average fair value of the restricted stock units and investment shares 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. On July 28, 2020, the Company granted an officer 1,842 shares of restricted stock units with a weighted-average fair value of $814.19 per share with service based vesting in 2023. Also on July 28, 2020, the Company granted a senior manager 184 shares of restricted stock units with a weighted-average fair value of $814.19 per share with service based vesting through 2024. On September 1, 2020, the Company granted a senior manager 113 shares of restricted stock units with a weighted-average fair value of $881.98 per share with service passed 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 Thirty-nine weeks ended September 26, September 28, September 26, September 28, (in thousands) (in thousands) Amounts included in advertising, promotional and selling expenses $ 1,203 $ 1,180 $ 3,054 $ 2,778 Amounts included in general and administrative expenses 2,429 2,053 7,681 6,265 Total stock-based compensation expense $ 3,632 $ 3,233 $ 10,735 $ 9,043

Employee Retirement Plans

Employee Retirement Plans	9 Months Ended
	Sep. 26, 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 Local Union No. 1199 (“Local Union 1199”). As of December 28, 2019, the fair value of the plan assets was $3.9 million and the benefit obligation was $6.7 million. On April 21, 2019, the Company reached an agreement with the Local Union 1199 to terminate the Local Union No. 1199 Pension Plan effective January 1, 2020 through either lump sum payments or the purchase of third-party annuities. On May 28, 2020, the Company received a positive determination letter for the termination on the plan from the IRS. During the third quarter of 2020, the Company completed the termination of a portion of the plan and recorded an expense of $1.5 million as a result of the termination. In the fourth quarter of 2020 , of the termination.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 26, 2020
Related Party Transactions	Q. Related Party Transactions In connection with the Dogfish Head Transaction, the Company has entered into a lease with the Dogfish Head founders and other owners of buildings used in certain of the Company’s restaurant operations. The lease is for ten years with renewal options. The total payments due under the initial ten year term is $3.6 million. Total related party expense recognized for the thirteen and thirty-nine weeks ended September 26, 2020 was approximately $91,000 and $270,000, respectively. During the third quarter of 2020, the Company entered into an agreement to sell a boat and a car to the Dogfish Head founders at market value of approximately $26,000. Additionally, the Company incurred expenses of less than $10,000 to various other suppliers affiliated with the Dogfish Head founders.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 26, 2020
Subsequent Events	R. Subsequent Events As disclosed in Note K, subsequent to September 26, 2020, the Company entered into a production agreement with a third-party brewing company. The Company evaluated subsequent events occurring after the balance sheet date, September 26, 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)	9 Months Ended
	Sep. 26, 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 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 Thirty-nine weeks ended September 28, September 28, (in thousands) (in thousands) Net revenue $ 379,205 $ 1,002,959 Net income $ 46,445 $ 103,105 Basic earnings per share $ 3.84 $ 8.74 Diluted earnings per share $ 3.79 $ 8.64

Goodwill and Intangible Assets

Goodwill and Intangible Assets - (Tables)	9 Months Ended
	Sep. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets	The Company’s intangible assets as of September 26, 2020 and December 28, 2019 were as follows: As of September 26, 2020 As of December 28, 2019 Estimated Gross Accumulated Net Book Value Gross Accumulated Net Book (in thousands ) Custmer Relationships 15 $ 3,800 $ (316 ) $ 3,484 $ 3,800 $ (127 ) $ 3,673 Trade Names Indefinite 100,510 — 100,510 100,599 — 100,599 Total intangible assets $ 104,310 $ (316 ) $ 103,994 $ 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 $ 63 2021 253 2022 253 2023 253 2024 253 2025 253

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 26, 2020
Components of Inventories	September 26, December 28, 2020 2019 (in thousands) Current inventory: Raw materials $ 61,705 $ 61,522 Work in process 14,287 12,631 Finished goods 47,839 31,885 Total current inventory 123,831 106,038 Long term inventory 15,327 10,048 Total inventory $ 139,158 $ 116,086

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 26, 2020
Leases [Abstract]
ROU assets and lease liabilities	As of September 26, 2020, and December 28, 2019 total ROU assets and lease liabilities were as follows: Classification Leases September 26, 2020 December 28, 2019 (in thousands) Right-of-use Operating lease assets Operating right-of-use $ 59,991 $ 53,758 Finance lease assets Property, plant and equipment, net 4,389 2,531 Lease Liabilities Current Operating lease liabilities Current operating lease liabilities 7,735 5,168 Finance lease liabilities Accrued expenses and other current liabilities 1,441 546 Non-current Operating lease liabilities Non-current 61,184 53,940 Finance lease liabilities Other liabilities 2,997 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 September 26, 2020 and December 28, 2019 were as follows: Finance Leases September 26, December 28, 2020 2019 (in thousands) Gross value $ 5,525 $ 2,837 Accumulated amortization (1,136 ) (306 ) Carrying value $ 4,389 $ 2,531
Components of lease cost	Components of lease cost for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019 were as follows: Lease Cost Thirteen weeks ended Thirty-nine weeks ended September 26, September 28, September 26, September 28, 2020 2019 2020 2019 (in thousands) (in thousands) Operating lease cost $ 2,425 $ 1,375 $ 7,277 $ 3,680 Variable lease costs not included in liability 349 171 1,321 643 Finance lease cost: Amortization of right-of-use 257 131 830 174 Interest on lease liabilities 31 206 106 258 Total finance lease cost $ 288 $ 337 $ 936 $ 432
Maturities of lease liabilities	Maturities of lease liabilities as of September 26, 2020 were as follows: Operating Finance Weighted-Average Remaining Term in Years Operating Leases Finance Leases (in thousands) 2020 $ 2,464 $ 391 2021 10,094 1,572 2022 9,908 1,572 2023 9,737 863 2024 9,470 265 Thereafter 39,523 22 Total lease payments 81,196 4,685 Less imputed interest (based on 3.5% weighted (12,277 ) (247 ) Present value of lease liability $ 68,919 $ 4,438 9.0 3.1

Net Income per Share (Tables)

Net Income per Share (Tables)	9 Months Ended
	Sep. 26, 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 Thirty-nine weeks ended September 26, September 28, September 26, September 28, 2020 2019 2020 2019 (in thousands, except per share data) (in thousands, except per share data) Net income $ 80,768 $ 44,729 $ 159,143 $ 96,279 Allocation of net income for basic: Class A Common Stock $ 65,074 $ 33,776 $ 126,146 $ 71,761 Class B Common Stock 15,254 10,581 31,996 23,652 Unvested participating shares 440 372 1,001 866 $ 80,768 $ 44,729 $ 159,143 $ 96,279 Weighted average number of shares for basic: Class A Common Stock 9,846 9,136 9,663 8,797 Class B Common Stock* 2,308 2,862 2,451 2,899 Unvested participating shares 67 101 77 106 12,221 12,099 12,191 11,802 Net income per share for basic: Class A Common Stock $ 6.61 $ 3.70 $ 13.05 $ 8.16 Class B Common Stock $ 6.61 $ 3.70 $ 13.05 $ 8.16 *Change in Class B Common Stock resulted from the conversion of 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 September 26, 2020 September 28, 2019 Earnings to Common EPS Earnings to Common EPS (in thousands, except per share data) As reported—basic $ 65,074 9,846 $ 6.61 $ 33,776 9,136 $ 3.70 Add: effect of dilutive potential common shares Share-based awards — 179 — 152 Class B Common Stock 15,254 2,308 10,581 2,862 Net effect of unvested participating shares 6 — 4 — Net income per common share—diluted $ 80,334 12,333 $ 6.51 $ 44,361 12,150 $ 3.65 Thirty-nine weeks ended September 26, 2020 September 28, 2019 Earnings to Common EPS Earnings to Common EPS (in thousands, except per share data) As reported—basic $ 126,146 9,663 $ 13.05 $ 71,761 8,797 $ 8.16 Add: effect of dilutive potential common shares Share-based awards — 145 — 127 Class B Common Stock 31,996 2,451 23,652 2,899 Net effect of unvested participating shares 12 — 8 — Net income per common share—diluted $ 158,154 12,259 $ 12.90 $ 95,421 11,823 $ 8.07

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 26, 2020
Non-cancelable Contractual Obligations	As of September 26, 2020, projected cash outflows under non-cancelable o Commitments (in thousands) Ingredients $ 130,933 Equipment and machinery 73,774 Brand support 62,496 Other 12,378 Total contractual obligations $ 279,581

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 26, 2020
Significant Components of Provisions for Income Taxes	The following table provides a summary of the income tax provision for the thirteen and thirty-nine weeks ended September 26, 2020 and September 28, 2019: Thirteen weeks ended September 26, September 28, 2020 2019 (in thousands) Summary of income tax provision Tax provision based on net income $ 26,325 $ 16,047 Benefit of ASU 2016-09 (5,142 ) (1,842 ) Total income tax provision $ 21,183 $ 14,205 Thirty-nine weeks ended September 26, September 28, 2020 2019 (in thousands) Summary of income tax provision Tax provision based on net income $ 52,029 $ 34,455 Benefit of ASU 2016-09 (9,481 ) (3,870 ) Total income tax provision $ 42,548 $ 30,585

Common Stock and Share-Based _2

Common Stock and Share-Based Compensation (Tables)	9 Months Ended
	Sep. 26, 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 Weighted Aggregate Outstanding at December 28, 2019 315,678 $ 186.53 Granted 25,870 383.22 Forfeited (2,595 ) 241.84 Expired — — Exercised (91,606 ) 137.55 Outstanding at September 26, 2020 247,347 $ 224.66 6.08 $ 161,050 Exercisable at September 26, 2020 59,138 $ 196.52 5.05 $ 40,170 Vested and expected to vest at September 26, 2020 223,104 $ 223.63 6.04 $ 145,495
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 1.1% Expected Dividends 0.0% Exercise factor 2.1 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 Non-vested 122,142 $ 213.52 Granted 42,455 349.95 Vested (45,860 ) 214.23 Forfeited (4,488 ) 236.78 Non-vested 114,249 $ 263.02
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 Thirty-nine weeks ended September 26, September 28, September 26, September 28, (in thousands) (in thousands) Amounts included in advertising, promotional and selling expenses $ 1,203 $ 1,180 $ 3,054 $ 2,778 Amounts included in general and administrative expenses 2,429 2,053 7,681 6,265 Total stock-based compensation expense $ 3,632 $ 3,233 $ 10,735 $ 9,043

COVID-19 Pandemic - Additional

COVID-19 Pandemic - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Reductions in net revenue and increases in other costs
Net effect of COVID-19 on revenue, cost of goods sold and operating expense	$ 101,781			$ 59,836	$ 202,082	$ 127,210
Cost of goods sold	252,207			190,631	677,313	477,147
Operating expenses	138,804			$ 127,999	396,100	$ 344,167
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	$ 100	$ 4,100	$ 10,000		14,200
Reduction in net revenue					3,400
Other direct costs					10,800
Cost of goods sold					7,400
Operating expenses					$ 3,400

Dogfish Head Brewery Transact_3

Dogfish Head Brewery Transaction - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 03, 2019	Sep. 26, 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 acquisition cash transferred	$ 173,000
Escrow Deposit				$ 158,400
Dogfish Head Brewery [Member]
Business combination consideration	336,000
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

Dogfish Head Brewery Transact_4

Dogfish Head Brewery Transaction - Fair value of assets acquired and liabilities assumed (Detail) - USD ($) $ in Thousands	Jul. 03, 2019	Sep. 26, 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	9 Months Ended
	Sep. 28, 2019	Sep. 28, 2019
Net revenue	$ 379,205	$ 1,002,959
Net income	$ 46,445	$ 103,105
Basic earnings per share	$ 3.84	$ 8.74
Diluted earnings per share	$ 3.79	$ 8.64

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of intangible assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Dec. 28, 2019
Gross Carrying Value	$ 104,310	$ 104,399
Accumulated Amortization	(316)	(127)
Net Book Value	103,994	104,272
Trade Names
Gross Carrying Value	100,510	100,599
Net Book Value	$ 100,510	100,599
Customer Relationships
Estimated Useful Life	15 years
Gross Carrying Value	$ 3,800	3,800
Accumulated Amortization	(316)	(127)
Net Book Value	$ 3,484	$ 3,673

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of amortization expense (Detail) $ in Thousands	Sep. 26, 2020USD ($)
Remainder of 2020	$ 63
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	9 Months Ended
	Sep. 26, 2020	Sep. 26, 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	$ 190,000
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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 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	$ 11.5		$ 11.5		$ 7
Reduction in federal excise taxes	4	$ 2.8	9.8	$ 6.6
Reimbursements for discounts to distributors	19	14.8	47.6	34.5
Accrued federal excise taxes, current	8.6		8.6
Distributors [Member]
Marketing and Advertising Expense	7.5	7.8	16.9	17.8
Reductions to net revenue	$ 6.9	$ 6.2	$ 15.9	$ 13

Inventories - Components of Inv

Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Current inventory:
Raw materials	$ 61,705	$ 61,522
Work in process	14,287	12,631
Finished goods	47,839	31,885
Total current inventory	123,831	106,038
Long term inventory	15,327	10,048
Total inventory	$ 139,158	$ 116,086

Leases - ROU assets and lease l

Leases - ROU assets and lease liabilities (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Right-of-use assets
Operating lease assets	$ 59,991	$ 53,758
Finance lease assets	4,389	2,531
Current
Operating lease liabilities	7,735	5,168
Non-current
Operating lease liabilities	61,184	53,940
Operating Right Of Use Assets [Member]
Right-of-use assets
Operating lease assets	59,991	53,758
Property, Plant and Equipment [Member]
Right-of-use assets
Finance lease assets	4,389	2,531
Current Operating Lease Liabilities [Member]
Current
Operating lease liabilities	7,735	5,168
Accrued Expenses And Other Current Liabilities [Member]
Current
Finance lease liabilities	1,441	546
Non Current Operating Lease Liabilities [Member]
Non-current
Operating lease liabilities	61,184	53,940
Other Liabilities [Member]
Non-current
Finance lease liabilities	$ 2,997	$ 2,042

Leases - Gross Value of Accumul

Leases - Gross Value of Accumulated Depreciation Of Right Of Use Assets (Details). - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Finance Lease, Gross value	$ 5,525	$ 2,837
Finance Lease, Accumulated amortization	(1,136)	(306)
Finance Lease, Carrying value	$ 4,389	$ 2,531

Leases - Components of lease co

Leases - Components of lease cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Lease, Cost [Abstract]
Operating lease cost	$ 2,425	$ 1,375	$ 7,277	$ 3,680
Variable lease costs not included in liability	349	171	1,321	643
Finance lease cost:
Amortization of right-of-use asset	257	131	830	174
Interest on lease liabilities	31	206	106	258
Total finance lease cost	$ 288	$ 337	$ 936	$ 432

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) $ in Thousands	Sep. 26, 2020USD ($)
Operating Leases
2020	$ 2,464
2021	10,094
2022	9,908
2023	9,737
2024	9,470
Thereafter	39,523
Total lease payments	81,196
Less imputed interest	(12,277)
Present value of lease liability	$ 68,919
Operating Lease, Weighted Average Discount Rate, Percent	3.50%
Operating Lease Weighted-Average Remaining Term
Lease Weighted Average Remaining Lease Term	9 years
Finance Lease Liabilities, Payments, Due
2020	$ 391
2021	1,572
2022	1,572
2023	863
2024	265
Thereafter	22
Total lease payments	4,685
Less imputed interest	(247)
Present value of lease liability	$ 4,438
Finance Lease, Weighted Average Remaining Lease Term	3 years 1 month 6 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						9 Months Ended
	Sep. 26, 2020	Jun. 27, 2020	Mar. 28, 2020	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Sep. 26, 2020	Sep. 28, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 80,768	$ 60,141	$ 18,234	$ 44,729	$ 27,856	$ 23,694	$ 159,143	$ 96,279
Allocation of net income for basic:
Allocation of net income for basic common stock	$ 80,768			$ 44,729			$ 159,143	$ 96,279
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	12,221			12,099			12,191	11,802
Net income per share for basic:
Net income per common share — basic	$ 6.61			$ 3.70			$ 13.05	$ 8.16
Common Class A
Allocation of net income for basic:
Allocation of net income for basic common stock	$ 65,074			$ 33,776			$ 126,146	$ 71,761
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	9,846			9,136			9,663	8,797
Net income per share for basic:
Net income per common share — basic	$ 6.61			$ 3.70			$ 13.05	$ 8.16
Common Class B
Allocation of net income for basic:
Allocation of net income for basic common stock	$ 15,254			$ 10,581			$ 31,996	$ 23,652
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	2,308			2,862			2,451	2,899
Net income per share for basic:
Net income per common share — basic	$ 6.61			$ 3.70			$ 13.05	$ 8.16
Unvested participating shares
Allocation of net income for basic:
Allocation of net income for basic unvested participating shares	$ 440			$ 372			$ 1,001	$ 866
Weighted average number of shares for basic:
Weighted-average number of common shares — basic	67			101			77	106

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
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

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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Allocation of net income for basic common stock	$ 80,768	$ 44,729	$ 159,143	$ 96,279
Add: effect of dilutive potential common shares Share-based awards	179	152	145	127
Earnings to Common Shareholders, Net effect of unvested participating shares	$ 6	$ 4	$ 12	$ 8
Earnings to Common Shareholders, Net income per common share — diluted	$ 80,334	$ 44,361	$ 158,154	$ 95,421
Weighted-average number of common shares — basic	12,221	12,099	12,191	11,802
Weighted-average number of common shares — diluted	12,333	12,150	12,259	11,823
Net income per common share — basic	$ 6.61	$ 3.70	$ 13.05	$ 8.16
Net income per common share — diluted	$ 6.51	$ 3.65	$ 12.90	$ 8.07
Common Class A
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Allocation of net income for basic common stock	$ 65,074	$ 33,776	$ 126,146	$ 71,761
Weighted-average number of common shares — basic	9,846	9,136	9,663	8,797
Net income per common share — basic	$ 6.61	$ 3.70	$ 13.05	$ 8.16
Common Class B
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Allocation of net income for basic common stock	$ 15,254	$ 10,581	$ 31,996	$ 23,652
Class B Common Stock	2,308	2,862	2,451	2,899
Earnings to Common Shareholders, Class B Common Stock	$ 15,254	$ 10,581	$ 31,996	$ 23,652
Weighted-average number of common shares — basic	2,308	2,862	2,451	2,899
Net income per common share — basic	$ 6.61	$ 3.70	$ 13.05	$ 8.16
Net income per common share — diluted	$ 6.51	$ 3.65	$ 12.90	$ 8.07

Net Income per Share - Addition

Net Income per Share - Additional Information (Detail) - shares	Mar. 01, 2020	Mar. 01, 2019	Jan. 01, 2019	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
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				0	27,000	1,000	21,000

Comprehensive Income or Loss -

Comprehensive Income or Loss - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 26, 2020USD ($)
Statement of Stockholders' Equity [Abstract]
Expenses on termination of defined benefit plan	$ 1.1

Commitments and Contingencies

Commitments and Contingencies - Summary of Non-cancelable Contractual Obligations (Detail) $ in Thousands	Sep. 26, 2020USD ($)
Long-term Purchase Commitment [Line Items]
Contractual obligations	$ 279,581
Equipment and machinery
Long-term Purchase Commitment [Line Items]
Contractual obligations	73,774
Ingredients
Long-term Purchase Commitment [Line Items]
Contractual obligations	130,933
Brand Support
Long-term Purchase Commitment [Line Items]
Contractual obligations	62,496
Other
Long-term Purchase Commitment [Line Items]
Contractual obligations	$ 12,378

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 19, 2020	Sep. 26, 2020	Jun. 27, 2020	Dec. 28, 2019
Commitments and Contingencies Disclosure [Line Items]
Prepaid brewing service fees current		$ 22,214		$ 12,077
Prepaid Expense, Current		30,200
Payments for Capital Improvements		9,600
Commitments [Member]
Commitments and Contingencies Disclosure [Line Items]
Estimated volume commitments contractual shortfall fees		60,900
Commitments [Member] | Subsequent Event [Member]
Commitments and Contingencies Disclosure [Line Items]
Estimated volume commitments contractual shortfall fees	$ 10,300
Prepaid Brewing Fees
Commitments and Contingencies Disclosure [Line Items]
Prepaid brewing service fees current		9,000
Prepaid brewing service fees		$ 39,200
Minimum
Commitments and Contingencies Disclosure [Line Items]
Company's current brewing and packaging percentage			65.00%

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Benefit (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Summary of income tax provision
Tax provision based on net income	$ 26,325	$ 16,047	$ 52,029	$ 34,455
Benefit of ASU 2016-09	(5,142)	(1,842)	(9,481)	(3,870)
Total income tax provision	$ 21,183	$ 14,205	$ 42,548	$ 30,585

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 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	20.80%	24.10%	21.10%	24.10%
State and Local Jurisdiction | Minimum
Income Taxes [Line Items]
Income tax return examination period			0 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) - Revolving Credit Facility - USD ($) $ in Millions	3 Months Ended
	Sep. 26, 2020	Mar. 28, 2020
Debt Instrument [Line Items]
Line of credit, current borrowing capacity		$ 150
Line of credit, expiration date	Mar. 31, 2023
Line of credit, unused balance	$ 150

Fair Value Measures - Additiona

Fair Value Measures - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 157,130	$ 36,670
Money market fund	$ 152,200	$ 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) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 28, 2019shares	Sep. 26, 2020USD ($)$ / sharesshares
Shares
Outstanding at beginning of period | shares		315,678
Granted | shares		25,870
Forfeited | shares		(2,595)
Expired | shares		0
Exercised | shares	(31,000)	(91,606)
Outstanding at end of period | shares		247,347
Exercisable at end of period | shares		59,138
Vested and expected to vest at end of period | shares		223,104
Weighted-Average Exercise Price
Outstanding at beginning of period | $ / shares		$ 186.53
Granted | $ / shares		383.22
Forfeited | $ / shares		241.84
Expired | $ / shares		0
Exercised | $ / shares		137.55
Outstanding at end of period | $ / shares		224.66
Exercisable at end of period | $ / shares		196.52
Vested and expected to vest at end of period | $ / shares		$ 223.63
Weighted-Average Remaining Contractual Term
Outstanding at end of period		6 years 29 days
Exercisable at end of period		5 years 18 days
Vested and expected to vest at end of period		6 years 14 days
Aggregate Intrinsic Value
Outstanding at end of period | $		$ 161,050
Exercisable at end of period | $		40,170
Vested and expected to vest at end of period | $		$ 145,495

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)	9 Months Ended
	Sep. 26, 2020Times
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	32.60%
Risk-free interest rate	1.10%
Expected dividends	0.00%
Exercise factor	2.1
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) - $ / shares	Jul. 28, 2020	Sep. 26, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested at beginning of period		122,142
Granted	184	42,455
Vested		(45,860)
Forfeited		(4,488)
Non-vested at end of period		114,249
Non-vested at beginning of period		$ 213.52
Granted	$ 814.19	349.95
Vested		214.23
Forfeited		236.78
Non-vested at end of period		$ 263.02

Common Stock and Share-Based _3

Common Stock and Share-Based Compensation - Additional Information (Detail) - $ / shares	Sep. 01, 2020	Jul. 28, 2020	May 14, 2020	Mar. 02, 2020	Mar. 01, 2020	Jan. 31, 2020	Mar. 01, 2019	Jan. 01, 2019	Sep. 26, 2020	Jun. 27, 2020	Dec. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Year		2024
Other than options granted in period		184							42,455
Stock option outstanding									247,347		315,678
Weighted average fair value of stock awards		$ 814.19							$ 349.95
Vesting Year		2024
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
Vesting Year				2024
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
Service Based Restricted Stock Units [Member] | Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Year		2023
Other than options granted in period		1,842
Weighted average fair value of stock awards		$ 814.19
Vesting Year		2023
Service Based Restricted Stock Units [Member] | Senior Manager [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Year	2024
Other than options granted in period	113
Weighted average fair value of stock awards	$ 881.98
Vesting Year	2024

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		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 3,632	$ 3,233	$ 10,735	$ 9,043
Advertising, promotional and selling expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,203	1,180	3,054	2,778
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 2,429	$ 2,053	$ 7,681	$ 6,265

Employee Retirement Plans - Add

Employee Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions	Apr. 30, 2019	Sep. 26, 2020	Sep. 26, 2020	Dec. 28, 2019
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expenses on termination of defined benefit plan			$ 1.1
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	$ 1.1
SAMUnion Number1199 Pension Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Expenses on termination of defined benefit plan		$ 1.5

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Sep. 26, 2020USD ($)	Sep. 26, 2020USD ($)
Related Party Transaction [Line Items]
Total payments due	$ 81,196,000	$ 81,196,000
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	$ 270,000
Dogfish Head Brewery | Sale Of Asset
Related Party Transaction [Line Items]
Related Party Transaction Amounts Of Transaction	$ 26,000