Boston Beer Co. Files 2023 Annual 10-K Report

TL;DR

🚨 **Boston Beer Co. just dropped its 2023 10-K, giving us the full financial picture for the year ending December 30th!**

AI Summary

BOSTON BEER CO INC filed its annual 10-K report on February 27, 2024, for the fiscal year ending December 30, 2023. The filing details financial statements, including property, plant, and equipment, accrued liabilities, and general and administrative expenses. Specific dollar amounts for these financial items were not provided in the excerpt.

Why It Matters

This annual 10-K filing provides a comprehensive overview of BOSTON BEER CO INC's financial performance and position for the fiscal year, offering crucial transparency for investors and regulators.

Risk Assessment

Risk Level: medium — The provided text is a standard SEC filing header and XBRL tags, which by itself does not indicate a specific risk level without the full financial content.

Key Numbers

• N/A — Property, Plant, and Equipment (Net) (Specific dollar amount not provided in the excerpt for fiscal year ending 2023-12-30.)
• N/A — Accrued Liabilities and Other Liabilities (Specific dollar amount not provided in the excerpt for fiscal year ending 2023-12-30.)
• N/A — General and Administrative Expense (Specific dollar amount not provided in the excerpt for fiscal year ending 2023-12-30.)

Key Players & Entities

• BOSTON BEER CO INC (company) — Filer of the 10-K report
• Pepsi (company) — Implied partner in a licensing agreement

FAQ

Key Financial Figures

• $0.01 — ich registered Class A Common Stock . $0.01 par value SAM New York Stock Exchan
• $9.6 billion — and 6% in 2023 and is now approximately $9.6 billion at retail and 20% of the combined Unite

Filing Documents

• sam-20231230.htm (10-K) — 2887KB
• sam-ex21_1.htm (EX-21.1) — 15KB
• sam-ex23_1.htm (EX-23.1) — 4KB
• sam-ex31_1.htm (EX-31.1) — 13KB
• sam-ex31_2.htm (EX-31.2) — 13KB
• sam-ex32_1.htm (EX-32.1) — 8KB
• sam-ex32_2.htm (EX-32.2) — 8KB
• sam-ex97_1.htm (EX-97.1) — 28KB
• img2070507_0.jpg (GRAPHIC) — 138KB
• 0000950170-24-021189.txt ( ) — 13624KB
• sam-20231230.xsd (EX-101.SCH) — 2063KB
• sam-20231230_htm.xml (XML) — 2541KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 25 Item 1C. Cybersecurity 25 Item 2.

Properties

Properties 26 Item 3.

Legal Proceedings

Legal Proceedings 28 Item 4. Mine Safety Disclosures 28 PART II. Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29 Item 6. [Reserved] 31 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 39 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 40 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 71 Item 9A.

Controls and Procedures

Controls and Procedures 71 Item 9B. Other Information 73 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 73 PART III. Item 10. Directors, Executive Officers and Corporate Governance 74 Item 11.

Executive Compensation

Executive Compensation 74 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 74 Item 13. Certain Relationships and Related Transactions, and Director Independence 74 Item 14. Principal Accountant Fees and Services 74 PART IV. Item 15. Exhibits and Financial Statement Schedules 75 Item 16. Form 10-K Summary 77

Signatures

Signatures 78 2 PART I.

Business

Item 1. Business General 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 trademarks "The Boston Beer Company", "Twisted Tea Brewing Company", "Hard Seltzer Beverage Company", "Angry Orchard Cider Company", "Dogfish Head Craft Brewery", "Dogfish Head Distilling Co.", "Angel City Brewing Company", "Coney Island Brewing Company", "Green Rebel Brewing Co.", "Truly Distilling Co.", "American Fermentation Company", "General Admission Brewing Co.", "TeaPot Worldwide", and "Sun Cruiser Beverage Co.". Boston Beer produces alcohol beverages, including flavored malt beverages, hard seltzer, beer, and hard cider at Company-owned breweries and its cidery and under contract arrangements at other brewery locations. The four primary Company-owned breweries are focused on production and research and development, including breweries located in Boston, Massachusetts (the "Boston Brewery"), Cincinnati, Ohio (the "Cincinnati Brewery"), Milton, Delaware (the "Milton Brewery") and Breinigsville, Pennsylvania (the "Pennsylvania Brewery"). These breweries, with the exception of the Pennsylvania Brewery, have tap rooms for retail sales on site. The Company produces a small but growing amount of distilled spirits and spirits based ready to drink beverages ("spirits RTDs") at the Milton Brewery and other contract brewery locations. The Company also operates three smaller local breweries that are mainly focused on brewing and packaging beers for retail sales on site at tap rooms and gift shops, restaurant activities, developing innovative and traditional beers and in some cases, supporting draft and package accounts in the respective local market areas. These local breweries are located in Boston, Massachusetts (the "Samuel Adams Boston Downtown Tap Room"), Rehoboth, Delaware ("Dogfish Head Brewings and Eats"), Los Angeles, Califor