SEC Info℠ | Home | Search | My Interests | Help | Sign In | Please Sign In | ||||||||||||||||||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 7/25/19 Boston Beer Co Inc 10-Q 6/29/19 69:7.5M Donnelley … Solutions/FA |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 1.10M 2: EX-10 Ex-10.1 HTML 74K 3: EX-10 Ex-10.2 HTML 44K 4: EX-10 Ex-10.3 HTML 70K 5: EX-10 Ex-10.4 HTML 56K 6: EX-10 Ex-10.5 HTML 29K 7: EX-31 Ex-31.1 HTML 24K 8: EX-31 Ex-31.2 HTML 24K 9: EX-32 Ex-32.1 HTML 20K 10: EX-32 Ex-32.2 HTML 20K 17: R1 Document and Entity Information HTML 79K 18: R2 Consolidated Balance Sheets HTML 110K 19: R3 Consolidated Balance Sheets (Parenthetical) HTML 32K 20: R4 Consolidated Statements of Comprehensive Income HTML 94K 21: R5 Consolidated Statements of Stockholders' Equity HTML 80K 22: R6 Consolidated Statements of Stockholders' Equity HTML 20K (Parenthetical) 23: R7 Consolidated Statements of Cash Flows HTML 123K 24: R8 Organization and Basis of Presentation HTML 26K 25: R9 Dogfish Head Brewery Merger HTML 28K 26: R10 Recent Accounting Pronouncements HTML 27K 27: R11 Revenue Recognition HTML 30K 28: R12 Inventories HTML 45K 29: R13 Leases HTML 92K 30: R14 Net Income per Share HTML 174K 31: R15 Comprehensive Income or Loss HTML 23K 32: R16 Commitments and Contingencies HTML 28K 33: R17 Income Taxes HTML 62K 34: R18 Revolving Line of Credit HTML 25K 35: R19 Fair Value Measures HTML 32K 36: R20 Common Stock and Stock-Based Compensation HTML 86K 37: R21 Employee Retirement Plans HTML 23K 38: R22 Subsequent Events HTML 23K 39: R23 Inventories (Tables) HTML 44K 40: R24 Leases (Tables) HTML 91K 41: R25 Net Income per Share (Tables) HTML 168K 42: R26 Income Taxes (Tables) HTML 55K 43: R27 Common Stock and Stock-Based Compensation (Tables) HTML 77K 44: R28 Dogfish Head Brewery Merger - Additional HTML 53K Information (Detail) 45: R29 Recent Accounting Pronouncements - Additional HTML 30K Information (Detail) 46: R30 Revenue Recognition - Additional Information HTML 35K (Detail) 47: R31 Components of Inventories (Detail) HTML 35K 48: R32 Leases (Lease liabilities) (Detail) HTML 46K 49: R33 Leases (Maturities of lease liabilities) (Detail) HTML 74K 50: R34 Leases (Future minimum lease payments) (Detail) HTML 36K 51: R35 Leases - Additional Information (Detail) HTML 32K 52: R36 Computation of Earnings Per Share, Basic (Detail) HTML 57K 53: R37 Computation of Earnings Per Share, Basic HTML 23K (Parenthetical) (Detail) 54: R38 Computation of Diluted Net Income Per Share HTML 58K (Detail) 55: R39 Net Income per Share - Additional Information HTML 57K (Detail) 56: R40 Commitments and Contingencies - Additional HTML 43K Information (Detail) 57: R41 Summary of Income Tax Benefit (Detail) HTML 28K 58: R42 Income Taxes - Additional Information (Detail) HTML 38K 59: R43 Revolving Line of Credit - Additional Information HTML 42K (Detail) 60: R44 Fair Value Measures - Additional Information HTML 26K (Detail) 61: R45 Summary of Stock Options under Employee Equity HTML 78K Incentive Plan and Stock Option Plan for Non-Employee Directors (Detail) 62: R46 Summary of Vesting Activities for Investment Share HTML 42K Program and Restricted Stock Awards (Detail) 63: R47 Common Stock and Stock-Based Compensation - HTML 70K Additional Information (Detail) 64: R48 Employee Retirement Plans - Additional Information HTML 32K (Detail) 65: R49 Subsequent Events - Additional Information HTML 28K (Detail) 67: XML IDEA XML File -- Filing Summary XML 110K 16: XML XBRL Instance -- sam-20190629_htm XML 1.32M 66: EXCEL IDEA Workbook of Financial Reports XLSX 56K 12: EX-101.CAL XBRL Calculations -- sam-20190629_cal XML 142K 13: EX-101.DEF XBRL Definitions -- sam-20190629_def XML 879K 14: EX-101.LAB XBRL Labels -- sam-20190629_lab XML 941K 15: EX-101.PRE XBRL Presentations -- sam-20190629_pre XML 906K 11: EX-101.SCH XBRL Schema -- sam-20190629 XSD 128K 68: JSON XBRL Instance as JSON Data -- MetaLinks 278± 425K 69: ZIP XBRL Zipped Folder -- 0000950123-19-006635-xbrl Zip 252K
BOSTON BEER CO INC |
i ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 |
MASSACHUSETTS | i 04-3284048 | |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Class A i Common
Stock. $0.1 par value | i SAM | i New York Stock Exchange | ||
Class B i Common
Stock, $0.1 par value | i Not applicable | Unregistered |
i Large accelerated filer | ☒ | Accelerated filer
| ☐ | |||
Non-accelerated filer | ☐ | Small reporting company | i ☐ | |||
Emerging
growth company | i ☐ |
Class A Common Stock, $.01 par value | i 9,185,036
| |||
Class B Common Stock, $.01 par value | i 2,917,983 | |||
(Title of each class) | (Number of shares) |
PAGE | ||||||||
PART I.
| ||||||||
Item 1. | 3 | |||||||
4 | ||||||||
5 | ||||||||
6 | ||||||||
7 | ||||||||
8-17 | ||||||||
Item 2. | 18 | |||||||
Item
3. | 23 | |||||||
Item 4. | 23 | |||||||
PART II.
| ||||||||
Item 1. | 23 | |||||||
Item
1A. | 23 | |||||||
Item 2. | 24 | |||||||
Item
3. | 24 | |||||||
Item 4. | 24 | |||||||
Item
5. | 24 | |||||||
Item 6. | 25 | |||||||
26 | ||||||||
EX-31.1 Section 302 CEO Certification | ||||||||
EX-31.2 Section 302 CFO Certification | ||||||||
EX-32.1 Section 906 CEO Certification | ||||||||
EX-32.2 Section 906
CFO Certification |
|
June 29, |
|
|
|
||||
2018 |
||||||||
Assets |
||||||||
Current Assets: |
||||||||
Cash and cash equivalents |
$ |
i 3,017 |
$ |
i 108,399 |
||||
Accounts receivable |
i 69,420 |
i 34,073 |
||||||
Inventories |
i 80,361 |
i 70,249 |
||||||
Prepaid expenses and other current assets |
i 16,329 |
i 13,136 |
||||||
Income tax receivable |
i 9,629 |
i 5,714 |
||||||
Total current assets |
i 178,756 |
i 231,571 |
||||||
Property, plant and equipment, net |
i 412,064 |
i 389,789 |
||||||
Operating right-of-use assets |
i 36,779 |
— |
||||||
Merger consideration
|
|
|
i 158,402
|
|
|
|
—
|
|
Other assets |
i 23,646 |
i 14,808 |
||||||
Goodwill |
i 3,683 |
i 3,683 |
||||||
Total assets |
$ |
i 813,330 |
$ |
i 639,851 |
||||
Liabilities and Stockholders’ Equity |
||||||||
Current Liabilities: |
||||||||
Accounts payable |
$ |
i 74,906 |
$ |
i 47,102 |
||||
Accrued expenses and other current liabilities |
i 73,545 |
i 73,412 |
||||||
Line of credit
|
|
|
i 37,500
|
|
|
|
—
|
|
Current operating lease liabilities |
i 2,315 |
— |
||||||
Total current liabilities |
i 188,266 |
i 120,514 |
||||||
|
|
|
|
|
|
|
|
|
Deferred income taxes, net |
i 55,452 |
i 49,169 |
||||||
Non-current operating lease liabilities |
i 39,239 |
— |
||||||
Other liabilities |
i 7,572 |
i 9,851 |
||||||
Total liabilities |
i 290,529 |
i 179,534 |
||||||
Commitments and Contingencies (See Note I) |
i | i | ||||||
Stockholders’ Equity: |
||||||||
Class A Common Stock, $.01 par value; i i 22,700,000 /
shares authorized;i i 8,655,955 / and i i 8,580,593 /
issued and outstanding as of June 29, 2019 and December 29, 2018, respectively |
i 87 |
i 86 |
||||||
Class B Common Stock, $.01 par value; i i 4,200,000 /
shares authorized; i i 2,917,983 /
and i i 2,917,983 /
issued and outstanding as of June 29, 2019 and December 29, 2018, respectively |
i 29 |
i 29 |
||||||
Additional paid-in capital |
i 416,602 |
i 405,711 |
||||||
Accumulated other comprehensive loss, net of tax |
( i 1,155 |
) |
( i 1,197 |
) | ||||
Retained earnings |
i 107,238 |
i 55,688 |
||||||
Total stockholders’ equity |
i 522,801 |
i 460,317 |
||||||
Total liabilities and stockholders’ equity |
$ |
i 813,330 |
$ |
i 639,851 |
||||
Thirteen
weeks ended | Twenty-six weeks ended | |||||||||||||||
June 29, | June 30, | June 29, | ||||||||||||||
2019 | 2018 | 2019 | 2018 | |||||||||||||
Revenue
| $ | i 338,643 | $ | i 289,574
| $ | i 606,202 | $ | i 491,405
| ||||||||
Less excise taxes | i 20,236 | i 16,474
| i 36,144 | i 27,848
| ||||||||||||
Net revenue | i 318,407 | i 273,100
| i 570,058 | i 463,557 | ||||||||||||
Cost
of goods sold | i 159,405 | i 131,130
| i 286,516 | i 225,490
| ||||||||||||
Gross profit | i 159,002 | i 141,970
| i 283,542 | i 238,067
| ||||||||||||
Operating expenses: | ||||||||||||||||
Advertising, promotional and selling expenses | i 94,079 | i 86,510
| i 165,802 | i 154,031
| ||||||||||||
General and administrative expenses | i 26,748 | i 23,879
| i 50,122 | i 43,217
| ||||||||||||
Impairment of assets | i 243 | i 517 | i 243 | i 517 | ||||||||||||
Total
operating expenses | i 121,070 | i 110,906
| i 216,167 | i 197,765
| ||||||||||||
Operating income | i 37,932 | i 31,064
| i 67,375 | i 40,302
| ||||||||||||
Other income (expense), net: | ||||||||||||||||
Interest (expense) income, net | ( i 27 | ) | i 273
| i 610 | i 478
| |||||||||||
Other income (expense), net | i 197 | ( i 203 | ) | ( i 55 | ) | ( i 488 | ) | |||||||||
Total
other income (expense), net | i 170 | i 70
| i 555 | ( i 10 | ) | |||||||||||
Income
before income tax provision | i 38,102 | i 31,134
| i 67,930 | i 40,292
| ||||||||||||
Income tax provision | i 10,246 | i 7,599
| i 16,380 | i 7,447
| ||||||||||||
Net income | $ | i 27,856 | $ | i 23,535
| $ | i 51,550 | $ | i 32,845
| ||||||||
Net income per common share - basic | $ | i 2.39 | $ | i 1.99
| $ | i 4.42 | $ | i 2.78
| ||||||||
Net income per common share - diluted | $ | i 2.36 | $ | i 1.98
| $ | i 4.38 | $ | i 2.76
| ||||||||
Weighted-average number of common shares - Class A basic | i 8,648 | i 8,667
| i 8,627 | i 8,690
| ||||||||||||
Weighted-average number of common shares - Class B basic | i 2,918 | i 3,018
| i 2,918 | i 3,018
| ||||||||||||
Weighted-average number of common shares - diluted | i 11,684 | i 11,787
| i 11,660 | i 11,809
| ||||||||||||
Net income | $ | i 27,856 | $ | i 23,535
| $ | i 51,550 | $ | i 32,845
| ||||||||
Other comprehensive income: | ||||||||||||||||
Foreign
currency translation adjustment | i 5 | i 7
| i 42 | i 18
| ||||||||||||
Comprehensive income | $ | i 27,861 | $ | i 23,542
| $ | i 51,592 | $ | i 32,863
| ||||||||
|
Class A |
|
|
Class A Common |
|
|
Class B |
|
|
Class B |
|
|
Additional |
|
|
Accumulated Other |
|
|
|
|
|
Total |
|
|||||||||
|
Common |
|
|
Stock, |
|
|
Common |
|
|
Common |
|
|
Paid-in |
|
|
Comprehensive |
|
|
Retained |
|
|
Stockholders’ |
|
|||||||||
Shares |
Par |
Shares |
Stock, Par |
Capital |
Loss, net of tax |
Earnings |
Equity |
|||||||||||||||||||||||||
Balance at December 29, 2018 |
i 8,580 |
$ |
i 86 |
i 2,918 |
$ |
i 29 |
$ |
i 405,711 |
$ |
( i 1,197 |
) | $ |
i 55,688 |
$ |
460,317 |
|||||||||||||||||
Net income |
i 23,694 |
i 23,694 |
||||||||||||||||||||||||||||||
Stock options exercised and restricted shares activities
|
|
|
i 54
|
|
|
|
—
|
|
|
|
|
|
|
|
|
i 3,704
|
|
|
|
|
|
|
|
|
|
|
i 3,704 |
|
||||
Stock-based compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i 2,066
|
|
|
|
|
|
|
|
|
|
|
i 2,066
|
|
|||||
Currency translation adjustment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i 37
|
|
|
|
|
|
|
|
i 37
|
|
|||
Balance at March 30, 2019
|
|
|
i 8,634
|
|
|
$
|
i 86
|
|
|
|
i 2,918
|
|
|
$ | i 29 |
|
|
$ | i 411,481 |
|
|
$ | ( i 1,160 |
)
|
|
$ | i 79,382 |
|
|
$
|
i 489,818 |
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i 27,856
|
|
|
|
i 27,856
|
|
||||||
Stock options exercised and restricted shares activities |
i 21
|
i 1
|
i 1,377
|
i 1,378
|
||||||||||||||||||||||||||||
Stock-based compensation expense |
i 3,744 |
i 3,744
|
||||||||||||||||||||||||||||||
Currency translation adjustment |
i 5
|
5
|
||||||||||||||||||||||||||||||
Balance at June 29, 2019 |
i 8,655 |
$ |
i 87 |
i 2,918 |
$ |
i 29 |
$ |
i 416,602 |
$ |
( i 1,155 |
) | $ |
i 107,238 |
$ |
i 522,801 |
|||||||||||||||||
|
|
|
|
Class A |
|
|
|
|
|
|
|
|
|
|
|
Accumulated |
|
|
|
|
|
|
|
|||||||||
|
Class A |
|
|
Common |
|
|
Class B |
|
|
Class B |
|
|
Additional |
|
|
Other |
|
|
|
|
|
Total |
|
|||||||||
|
Common |
|
|
Stock, |
|
|
Common |
|
|
Common |
|
|
Paid-in |
|
|
Comprehensive |
|
|
Retained |
|
|
Stockholders’ |
|
|||||||||
Shares |
Par |
Shares |
Stock, Par |
Capital |
Loss, net of tax |
Earnings |
Equity |
|||||||||||||||||||||||||
Balance at December 30, 2017 |
i 8,603 |
$ |
i 86 |
i 3,018 |
$ |
i 30 |
$ |
i 372,590 |
$ |
( i 1,288 |
) | $ |
i 52,105 |
$ |
i 423,523 |
|||||||||||||||||
Net income |
i 9,310 |
i 9,310 |
||||||||||||||||||||||||||||||
Stock options exercised and restricted shares activities |
i 188 |
i 2 |
i 20,232 |
i 20,234 |
||||||||||||||||||||||||||||
Stock-based compensation expense |
i 1,491 |
i 1,491 |
||||||||||||||||||||||||||||||
Repurchase of Class A Common Stock |
( i 91 |
) |
( i 1 |
) |
( i 16,638 |
) |
( i 16,639 |
) | ||||||||||||||||||||||||
Currency translation adjustment |
( i 11 |
) |
( i 11 |
) | ||||||||||||||||||||||||||||
One time effect of adoption of ASU 2014-09, Revenue from Contracts with Customers, net of tax of $ i 329 |
( i 982 |
) |
(982 |
) | ||||||||||||||||||||||||||||
One time effect of adoption of ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income
|
( i 210 |
) |
i 210 |
— |
||||||||||||||||||||||||||||
Balance at March 31, 2018
|
|
|
i 8,700
|
|
|
$
|
i 87
|
|
|
|
i 3,018
|
|
|
$
|
i 30
|
|
|
$
|
i 394,313
|
|
|
$
|
( i 1,509
|
)
|
|
$
|
i 44,005
|
|
|
$
|
i 436,926
|
|
Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i 23,535
|
|
|
|
i 23,535
|
|
|||||
Stock options exercised and restricted shares activities |
|
|
i 32
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
i 2,224
|
|
|
|
|
|
|
|
|
|
|
|
i 2,224
|
|
||
Stock-based compensation expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i 3,079
|
|
|
|
|
|
|
|
|
|
|
|
i 3,079
|
|
||||
Repurchase of Class A Common Stock |
|
|
( i 97
|
)
|
|
|
( i 1
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( i 23,084
|
)
|
|
|
( i 23,085
|
)
|
|||
Currency translation adjustment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
( i 7
|
)
|
|
|
|
|
|
|
( i 7
|
)
|
|||||
Balance at June 30, 2018 |
i 8,635 |
$ |
i 86 |
i 3,018 |
$ |
i 30 |
$ |
i 399,616 |
$ |
( i 1,516 |
) | $ |
i 44,456 |
$ |
i 442,672 |
|||||||||||||||||
Twenty-six weeks ended |
||||||||
Cash flows provided by operating activities: |
||||||||
Net income
|
$ |
i 51,550 |
$ |
i 32,845 |
||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||
Depreciation and amortization
|
i 26,089 |
i 26,011 |
||||||
Impairment of assets
|
|
|
i 243
|
|
|
|
i 517 |
|
Loss on disposal of property, plant and equipment
|
i 104 |
i 26 |
||||||
Lease expense
|
i 1,789 |
— |
||||||
Bad debt (recovery) expense
|
( i 1 |
) |
i 27 |
|||||
Stock-based compensation expense
|
i 5,810 |
i 4,570 |
||||||
Deferred income taxes
|
i 6,283 |
i 775 |
||||||
Changes in operating assets and liabilities:
|
||||||||
Accounts receivable
|
( i 35,346 |
) |
( i 21,651 |
) | ||||
Inventories
|
( i 14,942 |
) |
( i 18,636 |
) | ||||
Prepaid expenses, income tax receivable and other assets
|
( i 10,962 |
) |
i 217 |
|||||
Accounts payable
|
i 26,320 |
i 20,563 |
||||||
Accrued expenses and other current liabilities
|
( i 101 |
) |
i 8,721 |
|||||
Net lease liabilities
|
( i 1,391 |
) |
— |
|||||
Other liabilities
|
i 85 |
( i 244 |
) | |||||
Net cash provided by operating activities |
i 55,530 |
i 53,741 |
||||||
Cash flows used in investing activities: |
||||||||
Purchases of property, plant and equipment
|
( i 44,578 |
) |
( i 25,470 |
) | ||||
Proceeds from disposal of property, plant and equipment
|
i 179 |
i 2 |
||||||
Cash paid for merger
|
|
|
( i 158,402)
|
|
|
|
—
|
|
Change in restricted cash
|
( i 188 |
) |
i 98 |
|||||
Net cash used in investing activities |
( i 202,989 |
) |
( i 25,370 |
) | ||||
Cash flows provided by (used in) financing activities: |
||||||||
Repurchase of Class A Common Stock
|
— |
( i 39,725 |
) | |||||
Proceeds from exercise of stock options
|
i 4,146 |
i 21,529 |
||||||
Net cash paid on note payable and capital lease
|
( i 115 |
) |
( i 78 |
) | ||||
Cash borrowed on line of credit
|
|
|
i 86,000
|
|
|
|
—
|
|
Cash paid on line of credit
|
|
|
( i 48,500 | ) |
|
|
—
|
|
Net proceeds from sale of investment shares
|
i 546 |
i 445 |
||||||
Net cash provided (used in) by financing activities |
i 42,077 |
( i 17,829 |
) | |||||
Change in cash and cash equivalents
|
( i 105,382 |
) |
i 10,542 |
|||||
Cash and cash equivalents at beginning of year
|
i 108,399 |
i 65,637 |
||||||
Cash and cash equivalents at end of period
|
$ |
i 3,017 |
$ |
i 76,179 |
||||
Supplemental disclosure of cash flow information: |
||||||||
Income taxes paid |
$ |
i 13,697 |
$ |
i 3,355 |
||||
Cash paid for amounts included in measurement of lease liabilities |
$ |
i 1,976 |
$ |
— |
||||
Right-of-use assets obtained in exchange for operating lease obligations
|
|
$
|
i 38,524
|
|
|
$ |
—
|
|
Right-of-use assets obtained in exchange for capital lease obligations |
$ |
i 2,837 |
$ |
—
|
||||
Decrease in accounts receivable for ASU 2014-09 adoption |
$ |
— |
$ |
( i 1,310 |
) |
|||
Increase in accounts payable for purchase of property, plant and equipment |
$ |
i 1,484 |
$ |
i 774 |
A. |
Organization and Basis of Presentation |
B. |
Dogfish Head Brewery Merger |
C. |
Recent Accounting Pronouncements |
D. |
Revenue Recognition |
E. |
Inventories |
|
June 29, |
|
|
|
||||
2018 |
||||||||
(in thousands) |
||||||||
Current inventory: |
||||||||
Raw materials |
$ |
i 46,194
|
$ |
i 44,655 |
||||
Work in process |
i 10,191
|
i 8,252 |
||||||
Finished goods |
i 23,976
|
i 17,342 |
||||||
Total current inventory |
i 80,361
|
70,249 |
||||||
Long term inventory |
i 16,449
|
i 11,619 |
||||||
Total inventory |
$ |
i 96,810 |
$ |
i 81,868 |
||||
F. |
Leases |
Classification |
Leases |
|||||
(in thousands) |
||||||
Right-of-use assets |
||||||
Operating lease assets
|
Operating right-of-use assets
|
$ |
i 36,779
|
|||
Capital lease assets
|
Property, plant and equipment, net
|
i 2,794
|
||||
Lease Liabilities |
||||||
Current
|
||||||
Operating lease liabilities
|
Current operating lease liabilities
|
i 2,315
|
||||
Capital lease liabilities
|
Accrued expenses and other current liabilities
|
i 537
|
||||
Non-current
|
||||||
Operating lease liabilities
|
Non-current operating lease liabilities
|
i 39,239
|
||||
Capital lease liabilities
|
Other liabilities
|
i 2,313
|
Operating Leases |
Capital Leases |
Weighted-Average Remaining Term in Years |
||||||||||||||
Operating Leases |
Capital Leases |
|||||||||||||||
(in thousands) |
||||||||||||||||
2019
|
$ |
i 2,557
|
$ |
i 309
|
||||||||||||
2020
|
i 2,268
|
i 626
|
||||||||||||||
2021
|
i 5,379
|
i 626
|
||||||||||||||
2022
|
i 5,083
|
i 627
|
||||||||||||||
2023
|
i 4,965
|
i 627
|
||||||||||||||
After 2023
|
i 30,100
|
i 288
|
||||||||||||||
Total lease payments
|
i 50,352
|
i 3,103
|
||||||||||||||
Less imputed interest (based on i i i 3.5 / / %
weighted-
average discount rate) |
( i 8,798
|
) |
( i 253
|
) | ||||||||||||
Present value of lease liability
|
$ |
i 41,554
|
$ |
i 2,850
|
i 10.1
|
i 4.97
|
||||||||||
Leases |
||||
(in thousands) |
||||
2019
|
$ |
i 4,446
|
||
2020
|
i 4,530
|
|||
2021
|
i 4,370
|
|||
2022
|
i 3,559
|
|||
2023
|
i 1,672
|
|||
Thereafter
|
i 7,582
|
|||
Total
|
$ |
i 26,159
|
||
G. |
Net Income per Share |
Thirteen weeks ended |
Twenty-six weeks ended |
|||||||||||||||
(in thousands, except per share data) |
(in thousands, except per share data) |
|||||||||||||||
Net income
|
$ |
i 27,856
|
$ |
i 23,535
|
$ |
i 51,550
|
$ |
i 32,845
|
||||||||
Allocation of net income for basic:
|
||||||||||||||||
Class A Common Stock
|
$ |
i 20,639
|
$ |
i 17,290
|
$ |
i 38,161
|
$ |
i 24,187
|
||||||||
Class B Common Stock
|
i 6,964
|
i 6,020
|
i 12,908
|
i 8,400
|
||||||||||||
Unvested participating shares
|
i 253
|
i 225
|
i 481
|
i 258
|
||||||||||||
$ |
i 27,856
|
$ |
23,535
|
$ |
i 51,550
|
$ |
i 32,845
|
|||||||||
Weighted average number of shares for basic:
|
||||||||||||||||
Class A Common Stock
|
i 8,648
|
i 8,667
|
8,627
|
i 8,690
|
||||||||||||
Class B Common Stock*
|
i 2,918
|
i 3,018
|
2,918
|
i 3,018
|
||||||||||||
Unvested participating shares
|
i 106
|
i 112
|
i 109
|
i 93
|
||||||||||||
i 11,672
|
i 11,797
|
i 11,654
|
i 11,801
|
|||||||||||||
Net income per share for basic:
|
||||||||||||||||
Class A Common Stock
|
$ |
i 2.39
|
$ |
i 1.99
|
$ |
i 4.42
|
$ |
i 2.78
|
||||||||
Class B Common Stock
|
$ |
i 2.39
|
$ |
i 1.99
|
$ |
i 4.42
|
$ |
i 2.78
|
* | Change in Class B Common Stock resulted from the conversion of i 100,000 shares to Class A Common Stock on November 1, 2018 with the ending number of shares reflecting the weighted average for the period. |
Thirteen weeks ended |
||||||||||||||||||||||||
Earnings to Common Shareholders |
Common Shares |
EPS |
Earnings to Common Shareholders |
Common Shares |
EPS |
|||||||||||||||||||
(in thousands, except per share data) |
||||||||||||||||||||||||
As reported - basic |
$ |
i 20,639 |
i 8,648 |
$ |
i 2.39 |
$ |
i 17,290 |
i 8,667 |
$ |
i 1.99 |
||||||||||||||
Add: effect of dilutive potential common shares |
||||||||||||||||||||||||
Share-based awards |
—
|
i 118 |
— |
i 102 |
|
|||||||||||||||||||
Class B Common Stock |
i 6,964 |
i 2,918 |
i 6,020 |
i 3,018 |
|
|||||||||||||||||||
Net effect of unvested participating shares |
i 2 |
—
|
i 2 |
—
|
|
|||||||||||||||||||
Net income per common share - diluted
|
$ |
i 27,605 |
i 11,684 |
$ |
i 2.36 |
$ |
i 23,312 |
i 11,787 |
$ |
i 1.98 |
||||||||||||||
Twenty-six weeks ended |
||||||||||||||||||||||||
Earnings to Common Shareholders |
Common Shares |
EPS |
Earnings to Common Shareholders |
Common Shares |
EPS |
|||||||||||||||||||
(in thousands, except per share data) |
||||||||||||||||||||||||
As reported - basic |
$ |
i 38,161 |
8,627 |
$ |
i 4.42 |
$ |
i 24,187 |
i 8,690 |
$ |
i 2.78 |
||||||||||||||
Add: effect of dilutive potential common shares |
||||||||||||||||||||||||
Share-based awards |
—
|
i 115 |
—
|
i 101 |
|
|||||||||||||||||||
Class B Common Stock |
i 12,908 |
i 2,918 |
i 8,400 |
i 3,018 |
|
|||||||||||||||||||
Net effect of unvested participating shares |
i 5 |
—
|
i 2 |
—
|
|
|||||||||||||||||||
Net income per common share - diluted
|
$ |
i 51,074 |
11,660 |
$ |
i 4.38 |
$ |
i 32,589 |
i 11,809 |
$ |
i 2.76 |
||||||||||||||
H. |
Comprehensive Income or Loss |
I. |
Commitments and Contingencies |
J. |
Income Taxes |
Thirteen weeks ended |
||||||||
(in thousands) |
||||||||
Summary of income tax provision |
||||||||
Tax provision based on net income |
$ |
i 10,499 |
$ |
i 8,727 |
||||
Benefit of ASU 2016-09 |
( i 253 |
) |
( i 1,128 |
) | ||||
Total income tax provision |
$ |
i 10,246 |
$ |
i 7,599 |
||||
Twenty-six weeks ended |
||||||||
(in thousands) |
||||||||
Summary of income tax provision |
||||||||
Tax provision based on net income |
$ |
i 18,408 |
$ |
i 11,298 |
||||
Benefit of ASU 2016-09 |
( i 2,028 |
) |
( i 3,851 |
) |
||||
Total income tax provision |
$ |
16,380 |
$ |
i 7,447 |
K. |
Revolving Line of Credit |
L. |
Fair Value Measures |
• | 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. |
M. |
Common Stock and Stock-Based Compensation |
Shares |
Weighted-Average Exercise Price |
Weighted-Average RemainingContractual Term in Years |
Aggregate Intrinsic Value (in thousands) |
|||||||||||||
Outstanding at December 29, 2018 |
i 366,829 |
$ |
i 155.75 |
|
|
|||||||||||
Granted |
i 31,286 |
i 313.56 |
|
|
||||||||||||
Forfeited |
i — |
i — |
|
|||||||||||||
Expired |
i — |
i — |
|
|||||||||||||
Exercised |
( i 43,866 |
) |
i 94.50 |
|
|
|||||||||||
Outstanding at June 29, 2019 |
i 354,249 |
$ |
i 177.28 |
i 5.64 |
$ |
i 71,021 |
||||||||||
Exercisable at June 29, 2019 |
i 131,684 |
$ |
i 134.82 |
i 3.42 |
$ |
i 31,991 |
||||||||||
Vested and expected to vest at June 29, 2019 |
i 325,498 |
$ |
i 175.05 |
i 5.53 |
$ |
i 65,983 |
||||||||||
Number of Shares |
Weighted Average Fair Value |
|||||||
Non-vested at December 29, 2018
|
i 126,720
|
$ |
i 192.74
|
|||||
Granted
|
i 29,504
|
$ |
i 266.54
|
|||||
Vested
|
( i 31,496
|
) | $ |
i 187.25
|
||||
Forfeited
|
( i 1,110
|
) | $ |
i 144.92
|
||||
Non-vested at June 29, 2019
|
i 123,618
|
$ |
i 212.18
|
N. |
Employee Retirement Plans |
O. |
Subsequent Events |
Thirteen Weeks Ended (in thousands) |
||||||||||||||||||||||||||||||||||||
Amount change |
% change |
Per barrel change |
||||||||||||||||||||||||||||||||||
Barrels sold |
1,374 |
1,177 |
198 |
16.8 |
% | |||||||||||||||||||||||||||||||
Per barrel |
% of net revenue |
Per barrel |
% of net revenue |
|||||||||||||||||||||||||||||||||
Net revenue |
$ |
318,407 |
$ |
231.68 |
100.0 |
% | $ |
273,100 |
$ |
232.09 |
100.0 |
% | $ |
45,307 |
16.6 |
% | $ |
(0.41 |
) | |||||||||||||||||
Cost of goods |
159,405 |
115.99 |
50.1 |
% |
131,130 |
111.44 |
48.0 |
% |
28,275 |
21.6 |
% |
4.55 |
||||||||||||||||||||||||
Gross profit |
159,002 |
115.69 |
49.9 |
% |
141,970 |
120.65 |
52.0 |
% |
17,032 |
12.0 |
% |
(4.96 |
) | |||||||||||||||||||||||
Advertising, promotional and selling expenses |
94,079 |
68.45 |
29.5 |
% |
86,510 |
73.52 |
31.7 |
% |
7,569 |
8.7 |
% |
(5.07 |
) | |||||||||||||||||||||||
General and administrative expenses |
26,748 |
19.46 |
8.4 |
% |
23,879 |
20.29 |
8.7 |
% |
2,869 |
12.0 |
% |
(0.83 |
) | |||||||||||||||||||||||
Impairment of assets |
243 |
0.18 |
0.1 |
% |
517 |
0.44 |
0.2 |
% |
(274 |
) |
0.0 |
% |
(0.26 |
) | ||||||||||||||||||||||
Total operating expenses |
121,070 |
88.09 |
38.0 |
% |
110,906 |
94.25 |
40.6 |
% |
10,164 |
9.2 |
% |
(6.16 |
) | |||||||||||||||||||||||
Operating income |
37,932 |
27.60 |
11.9 |
% |
31,064 |
26.40 |
11.4 |
% |
6,868 |
22.1 |
% |
1.20 |
||||||||||||||||||||||||
Other income |
170 |
0.12 |
0.1 |
% |
70 |
0.06 |
0.0 |
% |
100 |
142.9 |
% |
0.06 |
||||||||||||||||||||||||
Income before income tax expense |
38,102 |
27.72 |
12.0 |
% |
31,134 |
26.46 |
11.4 |
% |
6,968 |
22.4 |
% |
1.26 |
||||||||||||||||||||||||
Income tax expense |
10,246 |
7.46 |
3.2 |
% |
7,599 |
6.46 |
2.8 |
% |
2,647 |
34.8 |
% |
1.00 |
||||||||||||||||||||||||
Net income |
$ |
27,856 |
$ |
20.27 |
8.7 |
% | $ |
23,535 |
$ |
20.00 |
8.6 |
% | $ |
4,321 |
18.4 |
% | $ |
0.27 |
||||||||||||||||||
Twenty-six Weeks Ended (in thousands) |
||||||||||||||||||||||||||||||||||||
Amount change |
% change |
Per barrel change |
||||||||||||||||||||||||||||||||||
Barrels sold |
2,451 |
1,989 |
462 |
23.2 |
% | |||||||||||||||||||||||||||||||
Per barrel |
% of net revenue |
Per barrel |
% of net revenue |
|||||||||||||||||||||||||||||||||
Net revenue |
$ |
570,058 |
$ |
232.60 |
100.0 |
% | $ |
463,557 |
$ |
233.02 |
100.0 |
% | $ |
106,501 |
23.0 |
% | $ |
(0.42) |
||||||||||||||||||
Cost of goods |
286,516 |
116.90 |
50.3 |
% |
225,490 |
113.35 |
48.6 |
% |
61,026 |
27.1 |
% |
3.55 |
||||||||||||||||||||||||
Gross profit |
283,542 |
115.69 |
49.7 |
% |
238,067 |
119.67 |
51.4 |
% |
45,475 |
19.1 |
% |
(3.98) |
||||||||||||||||||||||||
Advertising, promotional and selling expenses |
165,802 |
67.65 |
29.1 |
% |
154,031 |
77.43 |
33.2 |
% |
11,771 |
7.6 |
% |
(9.78) |
||||||||||||||||||||||||
General and administrative expenses |
50,122 |
20.45 |
8.8 |
% |
43,217 |
21.72 |
9.3 |
% |
6,905 |
16.0 |
% |
(1.27) |
||||||||||||||||||||||||
Impairment of assets |
243 |
0.10 |
0.0 |
% |
517 |
0.26 |
0.1 |
% |
(274) |
-53.0 |
% |
(0.16) |
||||||||||||||||||||||||
Total operating expenses |
216,167 |
88.20 |
37.9 |
% |
197,765 |
99.41 |
42.7 |
% |
18,402 |
9.3 |
% |
(11.21) |
||||||||||||||||||||||||
Operating income |
67,375 |
27.49 |
11.8 |
% |
40,302 |
20.26 |
8.7 |
% |
27,073 |
67.2 |
% |
7.23 |
||||||||||||||||||||||||
Other income (expense), net |
555 |
0.23 |
0.1 |
% |
(10) |
(0.01) |
0.0 |
% |
565 |
-5650.0 |
% |
0.24 |
||||||||||||||||||||||||
Income before income tax expense |
67,930 |
27.72 |
11.9 |
% |
40,292 |
20.25 |
8.7 |
% |
27,638 |
68.6 |
% |
7.47 |
||||||||||||||||||||||||
Income tax expense |
16,380 |
6.68 |
2.9 |
% |
7,447 |
3.74 |
1.6 |
% |
8,933 |
120.0 |
% |
2.94 |
||||||||||||||||||||||||
Net income |
$ |
51,550 |
$ |
21.03 |
9.0 |
% | $ |
32,845 |
$ |
16.51 |
7.1 |
% | $ |
18,705 |
56.9 |
% | $ |
4.52 |
||||||||||||||||||
LIQUIDITY |
AND CAPITAL RESOURCES |
Item 3. |
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
Item 4. |
CONTROLS AND PROCEDURES |
Item 1. |
LEGAL PROCEEDINGS |
Item 1A. |
RISK FACTORS |
Item 2. |
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
Period |
Total Number of Shares Purchased |
Average Price Paid per Share |
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |
Approximate Dollar Value of Shares that May Yet be Purchased Under the Plans or Programs |
||||||||||||
116 |
$ |
127.05 |
— |
$ |
90,335 |
|||||||||||
219 |
115.78 |
— |
90,335 |
|||||||||||||
13 |
187.54 |
— |
90,335 |
|||||||||||||
107 |
182.03 |
— |
90,335 |
|||||||||||||
79 |
175.67 |
— |
90,335 |
|||||||||||||
32 |
187.54 |
— |
90,335 |
|||||||||||||
Total |
566 |
$ |
144.68 |
— |
90,335 |
|||||||||||
Item 3. |
DEFAULTS UPON SENIOR SECURITIES |
Not | Applicable |
Item 4. |
MINE SAFETY DISCLOSURES |
Not | Applicable |
Item 5. |
OTHER INFORMATION |
Not | Applicable |
Item 6. |
EXHIBITS |
Exhibit No. |
Title |
|||
11.1 |
The information required by Exhibit 11 has been included in Note G of the notes to the consolidated financial statements. |
|||
*10.1 |
||||
*10.2 |
||||
*10.3 |
||||
*10.4 |
||||
*10.5 |
||||
*31.1 |
||||
*31.2 |
||||
*32.1 |
||||
*32.2 |
||||
*101.INS |
XBRL Instance Document – the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document |
|||
*101.SCH |
XBRL Taxonomy Extension Schema Document |
|||
*101.CAL |
XBRL Taxonomy Calculation Linkbase Document |
|||
*101.LAB |
XBRL Taxonomy Label Linkbase Document |
|||
*101.PRE |
XBRL Taxonomy Presentation Linkbase Document |
|||
*101.DEF |
XBRL Definition Linkbase Document |
* | Filed with this report |
THE BOSTON BEER COMPANY, INC. |
||||
|
(Registrant) |
|||
Date: July 25, 2019 |
/s/ David A. Burwick |
|||
President and Chief Executive Officer |
||||
(principal executive officer) |
||||
Date: July 25, 2019 |
/s/ Frank H. Smalla |
|||
Chief Financial Officer |
||||
(principal financial officer) |
If to the Company: |
The Boston Beer Company, Inc. One Design Center Place, Suite 850 Attention: Tara L. Heath, Vice President, Legal and Deputy General Counsel E-mail: Tara.Heath@bostonbeer.com |
|
with a copy to (which shall not constitute notice): |
Nixon Peabody LLP Exchange Place 53 State Street Attention: Frederick H. Grein, Jr. E-mail: fgrein@nixonpeabody.com |
|
If to the Holders: |
To the Holder Representative c/o Sageworth 1861 Santa Barbara Drive Attention: Kyle Groft E-mail: kgroft@sageworth.com |
with a copy to (which shall not constitute notice): |
McDermott Will & Emery LLP 500 North Capitol Street, N.W. Attention: Marc Sorini and Thomas P. Conaghan |
THE BOSTON BEER COMPANY, INC. |
||||
By: |
/s/ David A. Burwick |
|||
Name: | David A. Burwick | |||
Title: | President & Chief Executive Officer | |||
The Holders: |
SCIV IRREVOCABLE TRUST U/A/D 12/23/07 |
|||
A/K/A SAMUEL A CALAGIONE III AND |
||||
MARIAH CALAGIONE IRREVOCABLE |
||||
TRUST F/B/O SAMUEL A CALAGIONE IV |
||||
DATED DECEMBER 23, 2007 |
||||
By: |
/s/ David K. Kruft |
|||
Name: | David K. Kruft | |||
Title: | Vice President | |||
By: | ||||
Name: | Samuel A. Calagione, Jr. | |||
Title: | Co-Trustee |
|||
GCC IRREVOCABLE TRUST U/A/D 12/23/07 |
||||
A/K/A SAMUEL A CALAGIONE III AND |
||||
MARIAH CALAGIONE IRREVOCABLE |
||||
TRUST F/B/O GRIER C CALAGIONE DATED |
||||
By: |
/s/ David K. Kruft |
|||
Name: | David K. Kruft | |||
Title: | Vice President |
By: | ||||
Name: | Samuel A. Calagione, Jr. | |||
Title: | Co-Trustee |
|||
THE CALAGIONE DYNASTY TRUST DATED |
||||
By: |
/s/ David K. Kruft |
|||
Name: | David K. Kruft | |||
Title: | Vice President | |||
THE CALAGIONE FAMILY TRUST DATED |
||||
By: |
/s/ David K. Kruft |
|||
Name: | David K. Kruft | |||
Title: | Vice President | |||
By: | ||||
Name: | Samuel A. Calagione, III | |||
Title: | Co-Trustee |
|||
AMENDMENT NUMBER ONE AND |
||||
RESTATEMENT OF REVOCABLE TRUST |
||||
OF SAMUEL A. CALAGIONE III DATED |
||||
By: | ||||
Name: | Samuel A. Calagione, III | |||
Title: | Trustee | |||
The Holder Representative: |
||||
HOLDER’S NAME |
HOLDER’S ADDRESS |
TOTAL NUMBER OF REGISTRABLE SECURITIES HELD BY HOLDER |
||
SCIV Irrevocable Trust U/A/D 12/23/07 a/k/a Samuel A Calagione III and Mariah Calagione Irrevocable Trust f/b/o Samuel A Calagione IV dated December 23, 2007 |
c/o Sageworth 1861 Santa Barbara Drive Attention: Kyle Groft |
35,719 | ||
GCC Irrevocable Trust U/A/D 12/23/07 a/k/a Samuel A Calagione III and Mariah Calagione Irrevocable Trust f/b/o Grier C Calagione dated December 23, 2007 |
c/o Sageworth 1861 Santa Barbara Drive Attention: Kyle Groft |
35,719 | ||
The Calagione Dynasty Trust dated November 12, 2018 |
c/o Sageworth 1861 Santa Barbara Drive Attention: Kyle Groft |
150,417 | ||
The Calagione Family Trust dated December 14, 2016 |
c/o Sageworth 1861 Santa Barbara Drive Attention: Kyle Groft |
204,266 | ||
Amendment Number One and Restatement of Revocable Trust of Samuel A. Calagione III dated November 12, 2018 |
c/o Sageworth 1861 Santa Barbara Drive Attention: Kyle Groft |
943 |
The Founders: | ||||
Samuel A. Calagione III | ||||
Mariah D. Calagione | ||||
Boston Beer: | THE BOSTON BEER COMPANY, INC. |
|||
By: |
/s/ David A. Burwick |
|||
Name: | David A. Burwick | |||
Title: | President & Chief Executive Officer |
By: | /s/ David A. Burwick | X | /s/ Samuel A. Calagione | |||||
David A. Burwick, President & CEO |
Signature of Mr. Calagione |
|||||||
July 3, 2019 | Sam Calagione | |||||||
Date |
Print Name of Mr. Calagione |
|||||||
July 3, 2019 | ||||||||
Date |
||||||||
For purposes of Section 2(b) only: | /s/ Jim Koch | |||||||
Signature of Mr. Koch |
||||||||
July 3, 2019 | ||||||||
Date |
• |
Project Extreme Brewing |
• |
Off-Centered Leadership |
• |
He Said Beer, She Said Wine |
• |
Extreme Brewing: An Introduction to Brewing Craft Beer at Home |
• |
Brewing Up a Business |
By: |
/s/ David A. Burwick |
X |
||||||
David A. Burwick, President & CEO |
|
Signature of Coworker |
||||||
Date |
Print Name of Coworker |
|||||||
July 16, 2019 | ||||||||
Date |
• |
50% on the third anniversary of the Grant Date; |
• |
25% on the fourth anniversary of the Grant Date; |
• |
25% on the fifth anniversary of the Grant Date |
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
(a) |
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
(b) |
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
(c) |
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
(d) |
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
(a) |
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
(b) |
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
This ‘10-Q’ Filing | Date | Other Filings | ||
---|---|---|---|---|
7/3/29 | ||||
3/31/23 | ||||
8/10/20 | ||||
7/3/20 | ||||
1/1/20 | ||||
12/29/19 | ||||
10/1/19 | ||||
8/12/19 | ||||
Filed on: | 7/25/19 | 8-K | ||
7/20/19 | ||||
7/16/19 | ||||
7/13/19 | ||||
7/3/19 | 3, 4, 8-K, 8-K/A | |||
6/30/19 | ||||
For Period end: | 6/29/19 | |||
6/2/19 | ||||
6/1/19 | ||||
5/16/19 | 4, DEF 14A | |||
5/13/19 | ||||
5/10/19 | 4 | |||
5/8/19 | 8-K | |||
5/6/19 | ||||
5/5/19 | ||||
5/4/19 | ||||
4/29/19 | 3, 4 | |||
4/21/19 | ||||
3/31/19 | ||||
3/30/19 | 10-Q | |||
3/21/19 | ||||
3/14/19 | 3, 4 | |||
3/3/19 | ||||
3/2/19 | ||||
3/1/19 | 4 | |||
2/3/19 | ||||
2/2/19 | ||||
1/1/19 | ||||
12/30/18 | ||||
12/29/18 | 10-K | |||
11/12/18 | ||||
11/1/18 | 4 | |||
6/30/18 | 10-Q | |||
3/31/18 | 10-Q | |||
12/31/17 | ||||
12/30/17 | 10-K | |||
12/14/16 | 4 | |||
12/23/07 | ||||
List all Filings |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 2/27/24 Boston Beer Co. Inc. 10-K 12/30/23 103:13M Donnelley … Solutions/FA 2/22/23 Boston Beer Co. Inc. 10-K 12/31/22 110:16M Donnelley … Solutions/FA 2/22/22 Boston Beer Co. Inc. 10-K 12/25/21 111:16M Donnelley … Solutions/FA 7/22/21 Boston Beer Co. Inc. 10-Q 6/26/21 68:8M ActiveDisclosure/FA 4/22/21 Boston Beer Co. Inc. 10-Q 3/27/21 68:6.3M ActiveDisclosure/FA 2/17/21 Boston Beer Co. Inc. 10-K 12/26/20 110:16M ActiveDisclosure/FA 10/22/20 Boston Beer Co. Inc. 10-Q 9/26/20 79:7.8M Donnelley … Solutions/FA |