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Document And Entity Information - USD ($) $ in Millions	12 Months Ended
Document And Entity Information - USD ($) $ in Millions	Dec. 29, 2018	Feb. 15, 2019	Jun. 30, 2018
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 29, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Entity Registrant Name	BOSTON BEER CO INC
Entity Central Index Key	0000949870
Current Fiscal Year End Date	--12-29
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 2,473.7
Trading Symbol	SAM
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,706,975
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,917,983

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Current Assets:
Cash and cash equivalents	$ 108,399	$ 65,637
Accounts receivable	34,073	33,749
Inventories	70,249	50,651
Prepaid expenses and other current assets	13,136	10,695
Income tax receivable	5,714	7,616
Total current assets	231,571	168,348
Property, plant and equipment, net	389,789	384,280
Other assets	14,808	13,313
Goodwill	3,683	3,683
Total assets	639,851	569,624
Current Liabilities:
Accounts payable	47,102	38,141
Accrued expenses and other current liabilities	73,412	63,617
Total current liabilities	120,514	101,758
Deferred income taxes	49,169	34,819
Other liabilities	9,851	9,524
Total liabilities	179,534	146,101
Commitments and Contingencies (See Note J)
Stockholders' Equity:
Additional paid-in capital	405,711	372,590
Accumulated other comprehensive loss, net of tax	(1,197)	(1,288)
Retained earnings	55,688	52,105
Total stockholders' equity	460,317	423,523
Total liabilities and stockholders' equity	639,851	569,624
Common Class A
Stockholders' Equity:
Common Stock	86	86
Common Class B
Stockholders' Equity:
Common Stock	$ 29	$ 30

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 29, 2018	Dec. 30, 2017
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	8,580,593	8,603,152
Common Stock, shares outstanding	8,580,593	8,603,152
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	2,917,983	3,017,983
Common Stock, shares outstanding	2,917,983	3,017,983

Consolidated Statements of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Revenue	$ 1,057,495	$ 921,736	$ 968,994
Less excise taxes	61,846	58,744	62,548
Net revenue	995,649	862,992	906,446
Cost of goods sold	483,406	413,091	446,776
Gross profit	512,243	449,901	459,670
Advertising, promotional and selling expenses	304,853	258,649	244,213
General and administrative expenses	90,857	73,126	78,033
Impairment (gain on sale) of assets, net	652	2,451	(235)
Total operating expenses	396,362	334,226	322,011
Operating income	115,881	115,675	137,659
Interest income	1,292	549	168
Other expense, net	(887)	(82)	(706)
Total other income (expense), net	405	467	(538)
Income before provision for income tax	116,286	116,142	137,121
Provision for income taxes	23,623	17,093	49,772
Net income	$ 92,663	$ 99,049	$ 87,349
Net income per common share — basic	$ 7.90	$ 8.18	$ 6.93
Net income per common share — diluted	$ 7.82	$ 8.09	$ 6.79
Weighted-average number of common shares — basic	11,733	12,102	12,597
Weighted-average number of common shares — diluted	11,734	12,180	12,796
Net income	$ 92,663	$ 99,049	$ 87,349
Other comprehensive income (loss), net of tax:
Currency translation adjustment	25	17	(99)
Defined benefit plans liability adjustment	277	(202)	(53)
Impact of ASU 2018-02	(211)
Total other comprehensive income (loss), net of tax:	91	(185)	(152)
Comprehensive income	$ 92,754	$ 98,864	$ 87,197
Common Class A
Net income per common share — basic	$ 7.90	$ 8.18	$ 6.93
Weighted-average number of common shares — basic	8,620	8,933	9,189
Common Class B
Net income per common share — basic	$ 7.90	$ 8.18	$ 6.93
Weighted-average number of common shares — basic	3,002	3,102	3,344

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock Common Class A	Common Stock Common Class B	Additional Paid-in Capital	Accumulated Other Comprehensive (Loss) Income, net of tax	Retained Earnings
Balance at Dec. 26, 2015	$ 461,221	$ 94	$ 34	$ 290,096	$ (951)	$ 171,948
Balance (in shares) at Dec. 26, 2015		9,389,000	3,367,000
Net income	87,349					87,349
Stock options exercised and restricted shares activities, including tax benefit (in shares)		557,000
Stock options exercised and restricted shares activities, including tax benefit	53,674	$ 5		53,669
Stock-based compensation expense	$ 6,148			6,148
Repurchase of Class A Common Stock (in shares)	(944,876)	(945,000)
Repurchase of Class A Common Stock	$ (161,658)	$ (9)				(161,649)
Conversion from Class B to Class A (in shares)		170,000	(170,000)
Conversion from Class B to Class A		$ 2	$ (2)
Defined benefit plans liability adjustment, net of tax	(53)				(53)
Currency translation adjustment	(99)				(99)
Balance at Dec. 31, 2016	446,582	$ 92	$ 32	349,913	(1,103)	97,648
Balance (in shares) at Dec. 31, 2016		9,171,000	3,197,000
Net income	99,049					99,049
Stock options exercised and restricted shares activities, including tax benefit (in shares)		217,000
Stock options exercised and restricted shares activities, including tax benefit	16,363	$ 2		16,361
Stock-based compensation expense	$ 6,316			6,316
Repurchase of Class A Common Stock (in shares)	(963,790)	(964,000)
Repurchase of Class A Common Stock	$ (144,602)	$ (10)				(144,592)
Conversion from Class B to Class A (in shares)		179,000	(179,000)
Conversion from Class B to Class A		$ 2	$ (2)
Defined benefit plans liability adjustment, net of tax	(202)				(202)
Currency translation adjustment	17				17
Balance at Dec. 30, 2017	423,523	$ 86	$ 30	372,590	(1,288)	52,105
Balance (in shares) at Dec. 30, 2017		8,603,000	3,018,000
Net income	$ 92,663					92,663
Stock options exercised and restricted shares activities, including tax benefit (in shares)	206,454	227,000
Stock options exercised and restricted shares activities, including tax benefit	$ 23,088	$ 2		23,086
Stock-based compensation expense	$ 10,035			10,035
Repurchase of Class A Common Stock (in shares)	(349,691)	(350,000)
Repurchase of Class A Common Stock	$ (88,312)	$ (3)				(88,309)
Conversion from Class B to Class A (in shares)		100,000	(100,000)
Conversion from Class B to Class A		$ 1	$ (1)
Defined benefit plans liability adjustment, net of tax	277				277
Currency translation adjustment	25				25
One time effect of adoption of ASU 2014-09, Revenue from Contracts with Customers, net of tax of $329	(982)					(982)
One time effect of adoption of ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income					(211)	211
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

Consolidated Statements of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Stock options exercised and restricted shares activities, tax benefit	$ 4,200	$ 4,400	$ 12,524
Defined benefit plans liability adjustment, tax	93	$ 68	$ 32
One time effect of adoption of ASU 2014-09, Revenue from Contracts with Customers, tax	$ 329

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Cash flows provided by operating activities:
Net income	$ 92,663	$ 99,049	$ 87,349
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	51,968	51,256	49,557
Impairment of assets	652	2,451	716
Loss on disposal of property, plant and equipment	64	764	616
Gain On Sale Of Property Plant Equipment			(951)
Bad debt (recovery) expense	2		(244)
Stock-based compensation expense	10,035	6,316	6,148
Excess tax benefit from stock-based compensation arrangements			(12,524)
Deferred income taxes	14,350	(22,442)	8,243
Changes in operating assets and liabilities:
Accounts receivable	(1,636)	2,945	2,534
Inventories	(21,312)	(1,741)	445
Prepaid expenses, income tax receivable and other assets	(552)	(4,511)	14,936
Accounts payable	6,352	245	(1,811)
Accrued expenses and other current liabilities	10,130	2,671	5,479
Other liabilities	731	(1,021)	(6,304)
Net cash provided by operating activities	163,447	135,982	154,189
Cash flows used in investing activities:
Purchases of property, plant and equipment	(55,460)	(32,987)	(49,913)
Proceeds from sale of property, plant and equipment	27	25	3,855
Cash paid for intangible assets	(50)
Change in restricted cash	139	33	40
Net cash used in investing activities	(55,344)	(32,929)	(46,018)
Cash flows used in financing activities:
Repurchase of Class A Common Stock	(88,312)	(144,602)	(164,658)
Proceeds from exercise of stock options	22,143	15,415	40,127
Cash paid on note payable and capital lease	(78)	(60)	(58)
Excess tax benefit from stock-based compensation arrangements			12,524
Net proceeds from sale of investment shares	906	796	736
Net cash used in financing activities	(65,341)	(128,451)	(111,329)
Change in cash and cash equivalents	42,762	(25,398)	(3,158)
Cash and cash equivalents at beginning of year	65,637	91,035	94,193
Cash and cash equivalents at end of period	108,399	65,637	91,035
Supplemental disclosure of cash flow information:
Income taxes paid	11,353	43,006	30,978
Income taxes refunded	5,000		12,064
(Decrease) Increase in accounts payable for repurchase of Class A Common Stock			(3,000)
(Decrease) Increase in accounts payable for purchase of property, plant and equipment	$ 2,609	$ (2,689)	$ 2,678

Organization and Basis of Presentation

12 Months Ended

Dec. 29, 2018

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,” “Twisted Tea Brewing Company,” “Angry Orchard Cider Company,” “Hard Seltzer Beverage Company,” the Angel City Brewing Company

, the Concrete Beach Brewery

and the Coney Island

Brewing Company.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 29, 2018

Summary of Significant Accounting Policies

B. Summary of Significant Accounting Policies

Fiscal Year

The Company’s fiscal year is a

fifty-two

or fifty-three-week period ending on the last Saturday in December. The fiscal period 2018 consists of

fifty-two

weeks, the fiscal period 2017 consists of

fifty-two

weeks, and the fiscal period 2016 consists of fifty-three weeks.

Principles of Consolidation

The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries, all of which are wholly-owned. All intercompany transactions and balances have been eliminated in consolidation.

Use of Estimates

The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents at December 29, 2018 and December 30, 2017 included cash

on-hand

and money market instruments that are highly liquid investments. Cash and cash equivalents are carried at cost, which approximates fair value.

The Company has restricted cash associated with a term note agreement with Bank of America that was required by the Commonwealth of Pennsylvania to fund economic development at the Company’s Pennsylvania Brewery. The restricted cash subject to this agreement amounted to $278,000 and $340,000 at December 29, 2018 and December 30, 2017, respectively, and is included in other assets on the Company’s Consolidated Balance Sheets.

Accounts Receivable and Allowance for Doubtful Accounts

The Company’s accounts receivable primarily consist of trade receivables. The Company records an allowance for doubtful accounts that is based on historical trends, customer knowledge, any known disputes, and the aging of the accounts receivable balances combined with management’s estimate of future potential recoverability. Receivables are written off against the allowance after all attempts to collect a receivable have failed. The Company believes its allowance for doubtful accounts as of December 29, 2018 and December 30, 2017 are adequate, but actual write-offs could exceed the recorded allowance.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash equivalents and trade receivables. The Company places its cash equivalents with high credit quality financial institutions. As of December 29, 2018, the Company’s cash and cash equivalents were invested in investment-grade, highly-liquid U.S. government agency corporate money market accounts.

The Company sells primarily to a network of independent wholesalers in the United States and to a network of foreign wholesalers, importers or other agencies (collectively referred to as “Distributors”). In 2018, 2017 and 2016, sales to foreign Distributors were approximately 4% of total sales. Receivables arising from these sales are not collateralized; however, credit risk is minimized as a result of the large and diverse nature of the Company’s customer base. There were no individual customer accounts receivable balances outstanding at December 29, 2018 and December 30, 2017 that were in excess of 10% of the gross accounts receivable balance on those dates. No individual customers represented more than 10% of the Company’s revenues during fiscal years 2018, 2017, or 2016.

Financial Instruments and Fair Value of Financial Instruments

The Company’s primary financial instruments consisted of cash equivalents, accounts receivable, accounts payable and accrued expenses at December 29, 2018 and December 30, 2017. The Company determines the fair value of its financial assets and liabilities in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 820,

Fair Value Measurements and Disclosures

(“ASC 820”). The Company believes that the carrying amount of its cash equivalents, accounts receivable, accounts payable and accrued expenses approximates fair value due to the short-term nature of these assets and liabilities. The Company is not exposed to significant interest, currency or credit risks arising from these financial assets and liabilities.

Inventories and Provision for Excess or Expired Inventory

Inventories consist of raw materials, work in process and finished goods. Raw materials, which principally consist of hops, malt, apple juice, other brewing materials and packaging, are stated at the lower of cost

(first-in,

first-out

basis) or net realizable value. The Company’s goal is to maintain

on-hand

a supply of approximately two years for essential hop varieties, in order to limit the risk of an unexpected reduction in supply. Inventories are generally classified as current assets. The Company classifies hops inventory in excess of two years of forecasted usage in other long-term assets. The cost elements of work in process and finished goods inventory consist of raw materials, direct labor and manufacturing overhead. Packaging design costs are expensed as incurred. The Company enters into multi-year purchase commitments in order to secure adequate supply of ingredients and packaging, to brew and package its products. Inventory on hand and under purchase commitments totaled approximately $176.3 million at December 29, 2018.

The provisions for excess or expired inventory are based on management’s estimates of forecasted usage of inventories on hand and under contract. Forecasting usage involves significant judgments regarding future demand for the Company’s various existing products and products under development as well as the potency and shelf-life of various ingredients. A significant change in the timing or level of demand for certain products as compared to forecasted amounts may result in recording additional provisions for excess or expired inventory in the future. Provisions for excess inventory are included in cost of goods sold and have historically been adequate to provide for losses on its inventory. Provision for excess or expired inventory included in cost of goods sold was $4.2 million, $5.8 million, and $4.5 million in fiscal years 2018, 2017, and 2016 respectively.

Property, Plant and Equipment

Property, plant, and equipment are stated at cost. Expenditures for repairs and maintenance are expensed as incurred. Major renewals and betterments that extend the life of the property are capitalized.

Depreciation is computed using the straight-line method based upon the estimated useful lives of the underlying assets as follows:


Kegs		5 years
Computer software and equipment		2 to 5 years
Office equipment and furniture		3 to 7 years
Machinery and plant equipment		3 to 20 years, or the term of the production agreement, whichever is shorter
Leasehold improvements		Lesser of the remaining term of the lease or estimated useful life of the asset
Building and building improvements		12 to 20 years, or the remaining useful life of the building, whichever is shorter

The carrying value of property, plant and equipment, net of accumulated depreciation, at December 29, 2018 was $389.8 million. For purposes of determining whether there are any impairment losses, as further discussed below, management has historically examined the carrying value of the Company’s identifiable long-lived assets, including their useful lives, semi-annually, or more frequently when indicators of impairment are present. Evaluations of whether indicators of impairment exist involve judgments regarding the current and future business environment and the length of time the Company intends to use the asset. If an impairment loss is identified based on the fair value of the asset, as compared to the carrying value of the asset, such loss would be charged to expense in the period the impairment is identified. Furthermore, if the review of the carrying values of the long-lived assets indicates impairment of such assets, the Company may determine that shorter estimated useful lives are more appropriate. In that event, the Company will be required to record additional depreciation in future periods, which will reduce earnings. Estimating the amount of impairment, if any, requires significant judgments including identification of potential impairments, market comparison to similar assets, estimated cash flows to be generated by the asset, discount rates, and the remaining useful life of the asset. Impairment of assets included in operating expenses was $0.7 million, $2.5 million, and $0.7 million in fiscal years 2018, 2017 and 2016, respectively.

Factors generally considered important which could trigger an impairment review on the carrying value of long-lived assets include the following: (1) significant underperformance relative to historical or projected future operating results; (2) significant changes in the manner of use of acquired assets or the strategy for the Company’s overall business; (3) underutilization of assets; and (4) discontinuance of products by the Company or its customers. The Company believes that the carrying value of its long-lived assets was realizable as of December 29, 2018 and December 30, 2017.

Segment Reporting

Previously, the Company consisted of two operating segments that each produced and sold alcohol beverages. The first being the Boston Beer Company operating segment comprised of the Company’s Samuel Adams, Twisted Tea, Angry Orchard and Truly Hard Seltzer brands and the second being the A&S Brewing operating segment comprised of Coney Island Brewing Company, Angel City Brewing Company and Concrete Beach Brewing Company.

In 2016, sales from A&S brands were less than 5% of net revenues and in 2015, sales from A&S brands were less than 7% of net revenues.

In 2017, the Company consolidated the A&S Brewing operating segment into the Boston Beer Company operating segment. The rationale for this change in operating segments was mainly driven by the departure of the Head of A&S Brewing, who left the Company at the end of 2016. Upon his departure, the A&S Brewing brands reporting structure changed to be in line with the Company’s Samuel Adams, Twisted Tea, Angry Orchard and Truly Hard Seltzer brands. Additionally, all brands sell predominantly low alcohol beverages, which are sold to the same types of customers in similar size quantities, at similar price points and through substantially the same channels of distribution. These beverages are manufactured using similar production processes, have comparable alcohol content and generally fall under the same regulatory environment.

Goodwill and Intangible Assets

The Company does not amortize goodwill and intangible assets but evaluates the recoverability by comparing the carrying value and the fair value annually at the end of the fiscal month of August, or more frequently when indicators of impairment are present. The Company has concluded that its goodwill and intangible assets were not impaired as of December 29, 2018 and December 30, 2017. As of December 29, 2018, and December 30, 2017, goodwill amounted to $3.7 million. As of December 29, 2018, and December 30, 2017, intangible assets amounted to $2.1 million and $2.0 million, respectively, and were included in other assets in the accompanying consolidated balance sheets.

Refundable Deposits on Kegs and Pallets

The Company distributes its draft beer in kegs and packaged beer primarily in glass bottles and cans and such kegs, bottles and cans are shipped on pallets to Distributors. Most kegs and pallets are owned by the Company. Kegs are reflected in the Company’s balance sheets at cost and are depreciated over the estimated useful life of the keg, while pallets are expensed upon purchase. Upon shipment of beer to Distributors, the Company collects a refundable deposit on the kegs and pallets, which is included in current liabilities in the Company’s balance sheets. Upon return of the kegs and pallets to the Company, the deposit is refunded to the Distributor.

The Company has experienced some loss of kegs and pallets and anticipates that some loss will occur in future periods due to the significant volume of kegs and pallets handled by each Distributor and retailer, the homogeneous nature of kegs and pallets owned by most brewers and the relatively small deposit collected for each keg when compared with its market value. The Company believes that this is an industry-wide issue and that the Company’s loss experience is not atypical. The Company believes that the loss of kegs and pallets, after considering the forfeiture of related deposits, has not been material to the financial statements. The Company uses internal records, records maintained by Distributors, records maintained by other third party vendors and historical information to estimate the physical count of kegs and pallets held by Distributors. These estimates affect the amount recorded as property, plant and equipment and current liabilities as of the date of the financial statements. The actual liability for refundable deposits could differ from these estimates. For the year ended December 29, 2018, the Company decreased its liability for refundable deposits, gross property, plant and equipment and related accumulated depreciation by $1.2 million, $1.1 million and $1.1 million, respectively. For the year ended December 30, 2017, the Company decreased its liability for refundable deposits, gross property, plant and equipment and related accumulated depreciation by $1.0 million, $1.0 million and $1.0 million, respectively. As of December 29, 2018, and December 30, 2017, the Company’s balance sheet includes $17.0 million and $12.9 million, respectively, in refundable deposits on kegs and pallets and $1.9 million and $5.9 million, respectively, in kegs, net of accumulated depreciation.

Income Taxes

Income tax expense was $23.6 million, $17.1 million, and $49.8 million in fiscal years 2018, 2017, and 2016, respectively. The Company provides for deferred taxes using an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company’s consolidated financial statements or tax returns. This results in differences between the book and tax basis of the Company’s assets, liabilities and carry-forwards such as tax credits. In estimating future tax consequences, all expected future events, other than enactment of changes in the tax laws or rates, are generally considered. Valuation allowances are provided when recovery of deferred tax assets does not meet the more likely than not standards as defined in ASC Topic 740,

Income Taxes

The calculation of the Company’s tax liabilities involves dealing with uncertainties in the application of complex tax regulations in several different state tax jurisdictions. The Company is periodically reviewed by tax authorities regarding the amount of taxes due. These reviews include inquiries regarding the timing and amount of deductions and the allocation of income among various tax jurisdictions. The Company records estimated reserves for exposures associated with positions that it takes on its income tax returns that do not meet the more likely than not standards as defined in ASC Topic 740,

Income Taxes

. Historically, the valuation allowances and reserves for uncertain tax positions have been adequate to cover the related tax exposures.

Revenue Recognition and Classification of Customer Programs and Incentives

During fiscal 2018, 2017 and 2016 approximately 95% of the Company’s revenue was from shipments of its products to domestic Distributors and 4% from shipments to international Distributors, primarily located in Canada. Approximately 1% of the Company’s revenue is 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 December 29, 2018, and December 30, 2017, the Company has deferred $4.6 million and $5.5 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.

The Company is committed to maintaining the freshness of the product in the market. In certain circumstances and with the Company’s approval, the Company accepts and destroys stale beer that is returned by Distributors. The Company generally credits approximately fifty percent of the distributor’s cost of the beer that has passed its expiration date for freshness when it is returned to the Company or destroyed. The Company reduces revenue and establishes an accrual based upon both historical returns, which is applied to an estimated lag time for receipt of product, and knowledge of specific return transactions. Estimating this reserve involves significant judgments and estimates, including comparability of historical return trends to future trends, lag time from date of sale to date of return, and product mix of returns. Stale beer expense is reflected in the accompanying financial statements as a reduction of revenue. Historically, the cost of actual stale beer returns has been in line with established reserves, however, the cost could differ materially from the estimated reserve which would impact revenue. As of December 29, 2018, and December 30, 2017, the stale beer reserve was $2.1 million and $3.0 million, respectively. These amounts are included in accrued expenses and other current liabilities in the accompanying consolidated balance sheets.

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, based on the nature of the expenditure. Customer incentives and other payments made to Distributors are primarily based upon performance of certain marketing and advertising activities. Depending on applicable state laws and regulations, these activities promoting the Company’s products may include, but are not limited to

point-of-sale

and merchandise placement, samples, product displays, promotional programs at retail locations and meals, travel and entertainment. Amounts paid to customers in connection with these programs that were recorded as reductions to net revenue or as advertising, promotional and selling expenses totaled $55.5 million, $51.8 million and $54.4 million in fiscal year 2018, 2017 and 2016, respectively. Estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred.

Customer promotional discount programs are entered into with Distributors for certain periods of time. Amounts paid to Distributors in connection with these programs in fiscal years 2018, 2017 and 2016 were $34.5 million, $30.2 million and $33.2 million, respectively. The reimbursements for discounts to Distributors are recorded as reductions to net revenue. 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 incentives and other payments are made primarily to Distributors based upon performance of certain marketing and advertising activities. Depending on applicable state laws and regulations, these activities promoting the Company’s products may include, but are not limited to

point-of-sale

and merchandise placement, samples, product displays, promotional programs at retail locations and meals, travel and entertainment. Amounts paid to customers in connection with these programs in fiscal years 2018, 2017 and 2016 were $21.0 million, $21.6 million and $21.2 million, respectively. In fiscal 2018, 2017 and 2016, the Company recorded certain of these costs in the total amount of $13.9 million, $15.3 million and $16.1 million, respectively as reductions to net revenue. Costs recognized in net revenues include, but are not limited to, promotional discounts, sales incentives and certain other promotional activities. Costs recognized in advertising, promotional and selling expenses include point of sale materials, samples and media advertising expenditures in local markets. These costs are recorded as incurred, generally when invoices are received; however certain estimates are required at period end. Estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred.

In connection with its preparation of financial statements and other financial reporting, management is required to make certain estimates and assumptions regarding the amount, timing and classification of expenditures resulting from these activities. Actual expenditures incurred could differ from management’s estimates and assumptions.

Excise Taxes

The Company is responsible for compliance with the Alcohol and Tobacco Tax and Trade Bureau of the U.S. Treasury Department (the “TTB”) regulations which includes making timely and accurate excise tax payments. The Company is subject to periodic compliance audits by the TTB. Individual states also impose excise taxes on alcohol beverages in varying amounts. The Company calculates its excise tax expense based upon units shipped and on its understanding of the applicable excise tax laws.

The Company benefited from a reduction in federal excise taxes of $6.1 million in fiscal 2018, as a result of the Tax Cuts and Jobs Act of 2017.

Cost of Goods Sold

The following expenses are included in cost of goods sold: raw material costs, packaging costs, costs and income related to deposit activity, purchasing and receiving costs, manufacturing labor and overhead, brewing and processing costs, inspection costs relating to quality control, inbound freight charges, depreciation expense related to manufacturing equipment and warehousing costs, which include rent, labor and overhead costs.

Shipping Costs

Costs incurred for the shipping of products to customers are included in advertising, promotional and selling expenses in the accompanying consolidated statements of comprehensive income. The Company incurred shipping costs of $61.8 million, $45.3 million, and $49.2 million million in fiscal years 2018, 2017 and 2016, respectively.

Advertising and Sales Promotions

The following expenses are included in advertising, promotional and selling expenses in the accompanying consolidated statements of comprehensive income: media advertising costs, sales and marketing expenses, salary and benefit expenses and meals, travel and entertainment expenses for the sales, brand and sales support workforce, promotional activity expenses, shipping costs related to shipments of finished goods from manufacturing locations to distributor locations and

point-of-sale

items. Total advertising and sales promotional expenditures of $145.1 million, $128.0 million, and $105.3 million were included in advertising, promotional and selling expenses in the accompanying consolidated statements of comprehensive income for fiscal years 2018, 2017 and 2016, respectively.

The Company conducts certain advertising and promotional activities in its Distributors’ markets and the Distributors make contributions to the Company for such efforts. Reimbursements from Distributors for advertising and promotional activities are recorded as reductions to advertising, promotional and selling expenses.

General and Administrative Expenses

The following expenses are included in general and administrative expenses in the accompanying consolidated statements of comprehensive income: general and administrative salary and benefit expenses, insurance costs, professional service fees, rent and utility expenses, meals, travel and entertainment expenses for general and administrative employees, and other general and administrative overhead costs.

Stock-Based Compensation

The Company accounts for share-based awards in accordance with ASC Topic 718,

Compensation – Stock Compensation

(“ASC 718”), which generally requires recognition of share-based compensation costs in financial statements based on fair value. Compensation cost is recognized over the period during which an employee is required to provide services in exchange for the award (the requisite service period). The amount of compensation cost recognized in the consolidated statements of comprehensive income is based on the awards ultimately expected to vest, and therefore, reduced for estimated forfeitures. Stock-based compensation was $10.0 million, $6.3 million and $6.2 million in fiscal years 2018, 2017 and 2016, respectively.

As permitted by ASC 718, the Company elected to use a lattice model, such as the trinomial option-pricing model, to estimate the fair values of stock options, with the exception of the 2008 and 2016 stock option grants to the Company’s former Chief Executive Officer, which is considered to be a market-based award and was valued utilizing the Monte Carlo Simulation pricing model, which calculates multiple potential outcomes for an award and establishes fair value based on the most likely outcome. All option-pricing models require the input of subjective assumptions. These assumptions include the estimated volatility of the Company’s common stock price over the expected term, the expected dividend rate, the estimated post-vesting forfeiture rate, the risk-free interest rate and expected exercise behavior. See Note L for further discussion of the application of the option-pricing models.

In addition, an estimated

pre-vesting

forfeiture rate is applied in the recognition of the compensation charge. Periodically, the Company grants performance-based stock options, related to which it only recognizes compensation expense if it is probable that performance targets will be met. Consequently, at the end of each reporting period, the Company estimates whether it is probable that performance targets will be met. Changes in the subjective assumptions and estimates can materially affect the amount of stock-based compensation expense recognized in the consolidated statements of comprehensive income.

Net Income Per Share

Basic net income per share is calculated by dividing net income by the weighted-average common shares outstanding. Diluted net income per share is calculated by dividing net income by the weighted-average common shares and potentially dilutive securities outstanding during the period using the treasury stock method or the

two-class

method, whichever is more dilutive.

Accounting Pronouncements Recently Adopted

In May 2014, the FASB issued ASU

No. 2014-09,

Revenue from Contracts with Customers (Topic 606)

. ASU

2014-09

supersedes virtually all existing revenue guidance. Under this standard, an entity is required to recognize revenue upon transfer of promised goods or services to customers, in an amount that reflects the expected consideration received in exchange for those goods or services. As such, an entity needs to use more judgment and make more estimates than under the previous guidance. On December 31, 2017, the Company adopted the new accounting standard and all related amendments using the modified retrospective method which allows application only to the most current reporting period presented in the financial statements with a cumulative effect adjustment to retained earnings. In accordance with the new accounting standard, the majority of the Company’s revenue continues to be recognized at the time its products are shipped. Upon adoption, the Company began recognition of certain variable customer promotional discount programs earlier than it had under the previous revenue guidance which resulted in a $1.0 million, net of tax, cumulative effect adjustment to retained earnings. The comparative years have not been restated and continue to be reported under the accounting standards in effect for those periods. The Company expects the impact of the adoption to be immaterial to its consolidated financial statements on an ongoing basis.

In March 2016, the FASB issued ASU

No. 2016-09,

Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting

. ASU

2016-09

is part of the FASB’s initiative to simplify accounting standards. The guidance impacted several aspects of the accounting for employee share-based payment transactions, including accounting for income taxes and forfeitures, as well as classification in the consolidated statements of cash flows. Under ASU

2016-09,

excess tax benefits and deficiencies as a result of stock option exercises and restricted stock vesting are to be recognized as discrete items within income tax expense or benefit in the consolidated statements of comprehensive income in the reporting period in which they occur. Additionally, under ASU

2016-09,

excess tax benefits and deficiencies should be classified along with other income tax cash flows as an operating activity in the consolidated statements of cash flows. The Company adopted this new accounting standard prospectively in the first quarter of 2017. Prior periods have not been adjusted. Under this new accounting standard, for the

fifty-two

weeks ended December 29, 2018 and December 30, 2017, $4.2 million and $4.4 million, respectively, in excess tax benefit from stock-based compensation arrangements was recognized within the income tax provision in the consolidated statement of comprehensive income and classified as an operating activity in the consolidated statement of cash flows. The Company will maintain the current forfeiture policy to estimate forfeitures expected to occur to determine stock-based compensation expense.

In February 2018, the FASB issued

ASU No. 2018-02,

Income Statement – Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.

Under this update, an entity is allowed a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017. The Company early adopted this accounting standard prospectively in the first quarter of 2018. Prior periods have not been adjusted. In the first quarter of 2018, the Company reclassified $0.2 million of federal and state income tax effects of the Tax Cut and Jobs Act of 2017 related to defined benefit plans from accumulated other comprehensive income to retained earnings. The Company expects the impact of the adoption to be immaterial to its consolidated financial statements on an ongoing basis.

Accounting Pronouncements Not Yet Effective

In February 2016, the FASB issued ASU No. 2016-02,

Leases (Topic 842)

. The guidance requires lessees to recognize right-of-use (ROU) assets and lease liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. Under ASU 2016-02, lessees are permitted to use a modified retrospective approach, which requires an entity to recognize and measure leases existing at, or entered into after, the beginning of the earliest comparative period presented for the year beginning December 30, 2018, with early adoption permitted. In July 2018, the FASB issued ASU No. 2018-11,

Leases (Topic 842)

, permitting the use of an alternative modified retrospective approach that would result in an entity recognizing a lease liability and ROU asset as of the effective date of the requirements, with all comparative periods presented and disclosed, in accordance with ASC 840, Leases, requirements, changing the date of initial application to the beginning of the period of adoption. The Company will elect the alternative modified retrospective approach, applying ASC 840 to all comparative periods, including disclosures, and recognize the effects of applying ASC 842 as a cumulative-effect adjustment to retained earnings as of the effective date. Adoption of the standard will result in the recognition of ROU assets between $25.5 million and $27.0 million and lease liabilities of between $30.0 million and $31.5 million, as of December 30, 2018. The Company expects the impact of the adoption to be immaterial to its consolidated financial statements on an ongoing basis.

Inventories

12 Months Ended

Dec. 29, 2018

Inventories

C. Inventories

Inventories consisted of the following:

	December 29, 2018		December 30, 2017
	(in thousands)
Current inventory:
Raw materials	$	44,655	$	33,086
Work in process		8,252		6,826
Finished goods		17,342		10,739
Total current inventory		70,249		50,651
Long term inventory		11,619		9,905
Total inventory	$	81,868	$	60,556

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 29, 2018

Prepaid Expenses and Other Current Assets

D. Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	December 29, 2018		December 30, 2017

	(in thousands)
Prepaid equipment	$	3,789	$	—
Excise and other tax receivables		2,179		1,651
Prepaid malt and barley		1,629		1,819
Prepaid advertising, promotional and selling		1,518		3,328
Prepaid insurance		1,111		1,055
Prepaid compensation		1,000		—
Prepaid software expense		754		—
Supplier and vendor rebates		265		1,464
Other		891		1,378
	$	13,136	$	10,695

Property, Plant and Equipment

12 Months Ended

Dec. 29, 2018

Property, Plant and Equipment

E. Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	December 29, 2018		December 30, 2017
	(in thousands)
Machinery and plant equipment	$	476,174	$	438,925
Kegs		67,940		69,049
Land		22,295		22,295
Building and building improvements		120,111		112,912
Office equipment and furniture		26,703		24,307
Leasehold improvements		20,830		16,660
		734,053		684,148
Less accumulated depreciation		(344,264)		(299,868)
	$	389,789	$	384,280

The Company recorded depreciation expense related to these assets of $51.8

million $51.2

million, and $49.3

million, in fiscal years

2018

2017

, and

2016

, respectively.

Impairment of Assets

The Company evaluates its assets for impairment when events indicate that an asset or asset group may have suffered impairment. During

2018

2017

, and

2016

, the Company recorded impairment charges of $0.7

million, $2.5

million and $0.7

million, respectively.

Gain on Sale of Assets

During 2016, the Company recognized a $1.0

million gain on the sale of land owned in Freetown, Massachusetts.

Goodwill

12 Months Ended

Dec. 29, 2018

Goodwill

F. Goodwill

Goodwill represents the excess of the purchase price of the Company-owned breweries over the fair value of the net assets acquired upon the completion of the acquisitions. As of December 29, 2018 and December 30, 2017, goodwill amounted to $3.7 million.

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 29, 2018

Accrued Expenses and Other Current Liabilities

G. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	December 29, 2018		December 30, 2017

	(in thousands)
Employee wages, benefits and reimbursements	$	27,074	$	16,275
Accrued deposits		18,171		14,224
Advertising, promotional and selling expenses		9,079		13,605
Deferred revenue		4,587		5,472
Accrued excise taxes		2,335		2,015
Accrued stale beer		2,146		3,023
Accrued sales and use tax		1,914		1,873
Accrued freight		1,668		1,518
Other accrued liabilities		6,438		5,612
	$	73,412	$	63,617

Revolving Line of Credit

12 Months Ended

Dec. 29, 2018

Revolving Line of Credit

H. Revolving Line of Credit

The Company has a credit facility in place that provides for a $150.0 million revolving line of credit which has a term not scheduled to expire until March 31, 2023. The Company may elect an interest rate for borrowings under the credit facility based on either (i) the Alternative Prime Rate (

5.5

% at December 29, 2018) or (ii) the applicable LIBOR rate (

2.46

% at December 29, 2018) plus 0.45%. The Company incurs an annual commitment fee of 0.15% on the unused portion of the facility and is obligated to meet certain financial covenants, which are measured using earnings before interest, tax, depreciation and amortization (“EBITDA”) based ratios. The Company’s EBITDA to interest expense ratio was 14,918 as of December 29, 2018, compared to a minimum allowable ratio of 2.00 and the Company’s total funded debt to EBITDA ratio was 0.0 as of December 29, 2018, compared to a maximum allowable ratio of 2.50. The Company was in compliance with all financial covenants as of December 29, 2018 and December 30, 2017. There were no borrowings outstanding under the credit facility as of December 29, 2018 and December 29, 2017.

There are also certain restrictive covenants set forth in the credit agreement. Pursuant to the negative covenants, the Company has agreed that it will not: enter into any indebtedness or guarantees other than those specified by the lender, enter into any sale and leaseback transactions, merge, consolidate, or dispose of significant assets without the lender’s prior written consent, make or maintain any investments other than those permitted in the credit agreement, or enter into any transactions with affiliates outside of the ordinary course of business. In addition, the credit agreement requires the Company to obtain prior written consent from the lender on distributions on account of, or in repurchase, retirement or purchase of its capital stock or other equity interests with the exception of the following: (a) distributions of capital stock from subsidiaries to The Boston Beer Company, Inc. and Boston Beer Corporation (a subsidiary of The Boston Beer Company, Inc.), (b) repurchase from former employees of

non-vested

investment shares of Class A Common Stock, issued under the Employee Equity Incentive Plan, and (c) redemption of shares of Class A Common Stock as approved by the Board of Directors and payment of cash dividends to its holders of common stock. Borrowings under the credit facility may be used for working capital, capital expenditures and general corporate purposes of the Company and its subsidiaries. In the event of a default that has not been cured, the credit facility would terminate and any unpaid principal and accrued interest would become due and payable.

Income Taxes

12 Months Ended

Dec. 29, 2018

Income Taxes

I. Income Taxes

Significant components of the provision for income taxes are as follows:

	2018		2017			2016
			(in thousands)
Current:
Federal	$	4,471	$	34,255		$	35,390
State		4,894		5,225			6,108
Total current		9,365		39,480			41,498
Deferred:
Federal		12,860		(22,489	)		7,666
State		1,398		102			608
Total deferred		14,258		(22,387	)		8,274
Total provision for income taxes	$	23,623	$	17,093		$	49,772

The Company’s reconciliations to statutory rates are as follows:

	2018			2017			2016
Statutory rate		21.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		4.6			3.6			3.6
Deduction relating to U.S. production activities		—			(3.2	)		(2.6	)
Deduction relating to excess stock based compensation		(3.6	)		(3.7	)		—
Change relating to enacted Tax Cuts and Jobs Act		—			(17.5	)		—
Non- deductable meals & entertainment		1.1			0.9			0.9
Accounting method changes		(3.9	)		—			—
Change in valuation allowance		0.7			—			(0.3	)
Other		0.4			(0.4	)		(0.3	)
		20.3	%		14.7	%		36.3	%

Due to a change of tax accounting methods for depreciation of certain property, plant and equipment for the tax year ended December

2017

, the Company experienced a

one-time

income tax benefit of $4.5

million for the tax year ended December

2018

Significant components of the Company’s deferred tax assets and liabilities are as follows at:

	December 29, 2018			December 30, 2017
	(in thousands)
Deferred tax assets:
Accrued expenses	$	1,913		$	2,484
Stock-based compensation expense		5,156			4,175
Inventory		1,356			435
Other		2,478			2,598
Total deferred tax assets		10,903			9,692
Valuation allowance		(1,291	)		(439	)
Total deferred tax assets net of valuation allowance		9,612			9,253
Deferred tax liabilities:
Property, plant and equipment		(57,099	)		(42,076	)
Prepaid expenses		(949	)		(1,341	)
Goodwill		(733	)		(655	)
Total deferred tax liabilities		(58,781	)		(44,072	)
Net deferred tax liabilities	$	(49,169	)	$	(34,819	)

The Company’s practice is to classify interest and penalties related to income tax matters in income tax expense. Interest and penalties included in the provision for income taxes amounted to $0.1

million, $0.0

million, and $0.0

million for fiscal years

2018

2017

, and

2016

, respectively. Accrued interest and penalties amounted to $0.1

million and $0.0

million at December

2018

and December

2017

, respectively.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2018			2017
	(in thousands)
Balance at beginning of year	$	292		$	589
Increases related to current year tax positions		8			64
(Decreases) Increases related to prior year tax positions		636			(259	)
Decreases related to settlements		(100	)		(62	)
Decreases related to lapse of statute of limitations		—			(40	)
Balance at end of year	$	836		$	292

Included in the balance of unrecognized tax benefits at December

2018

and December

2017

are potential net benefits of $0.8

million and $0.3

million, respectively, that would favorably impact the effective tax rate if recognized. Unrecognized tax benefits are included in accrued expenses in the accompanying consolidated balance sheets and adjusted in the period in which new information about a tax position becomes available or the final outcome differs from the amount recorded.

In September 2017

, the Internal Revenue Service (“IRS”) commenced an examination of the Company’s

2015

consolidated corporate income tax return. The examination was completed in July 2018

resulting in a no change report. As of December

2018

, the Company’s

2016

and

2017

federal income tax returns remain subject to examination by IRS. The Company’s state income tax returns remain subject to examination for three or four years depending on the state’s statute of limitations. The Company is being audited by one state as of December

2018

. In addition, the Company is generally obligated to report changes in taxable income arising from federal income tax audits.

It is reasonably possible that the Company’s unrecognized tax benefits may increase or decrease in

2019

if there is a completion of certain income tax audits; however, the Company cannot estimate the range of such possible changes. The Company does not expect that any potential changes would have a material impact on the Company’s financial position, results of operations or cash flows.

As of December 29, 2018, the Company’s deferred tax assets include a capital loss carryforward. The capital loss carryforward, totaling $1.7

million as of December 29, 2018, which if unused, will expire in year 2019

Commitments and Contingencies

12 Months Ended

Dec. 29, 2018

Commitments and Contingencies

J. Commitments and Contingencies

Contractual Obligations

As of December 29, 2018, projected cash outflows under

non-cancelable

contractual obligations for the remaining years under the contracts are as follows:

	Payments Due by Period
	Total		2019		2020		2021		2022		2023		Thereafter

	(in thousands)
Brand support		63,728	$	37,553	$	5,041	$	4,335	$	4,200	$	4,200	$	8,399
Hops, barley and wheat		61,065		35,019		8,855		6,444		4,575		2,343		3,829
Apples and other ingredients		33,028		33,028		—		—		—		—		—
Equipment and machinery		28,403		28,403		—		—		—		—		—
Operating leases		26,159		4,446		4,530		4,370		3,559		1,672		7,582
Other		14,437		10,089		2,499		1,424		300		125		—
Total contractual obligations	$	226,820	$	148,538	$	20,925	$	16,573	$	12,634	$	8,340	$	19,810

The Company utilizes several varieties of hops in the production of its products. To ensure adequate supplies of these varieties, the Company enters into advance multi-year purchase commitments based on forecasted future hop requirements, among other factors. These purchase commitments extend through crop year

2025

and specify both the quantities and prices, denominated in U.S. Dollar, Euros, New Zealand Dollars and British Pounds, to which the Company is committed. Hops purchase commitments outstanding at December

2018

totaled $45.5

million, based on the exchange rates on that date. The Company does not use forward currency exchange contracts and intends to purchase future hops using the exchange rate at the time of purchase. These contracts were deemed necessary in order to bring hop inventory levels and purchase commitments into balance with the Company’s current brewing volume and hop usage forecasts. In addition, these contracts enable the Company to secure its position for future supply with hop vendors in the face of some competitive buying activity.

Currently, the Company has entered into contracts for barley and wheat with two major suppliers. The contracts include crop year

2018

and

2019

and cover the Company’s barley, wheat, and malt requirements for

2019

. These purchase commitments outstanding at December

2018

totaled $15.6

million.

The Company’s accounting policy for inventory and purchase commitments is to recognize a loss by establishing a reserve to the extent inventory levels and commitments exceed forecasted needs. The computation of the excess inventory requires management to make certain assumptions regarding future sales growth, product mix, cancellation costs and supply, among others. Actual results may differ materially from management’s estimates. The Company continues to manage inventory levels and purchase commitments in an effort to maximize utilization. However, changes in management’s assumptions regarding future sales growth, product mix and hops market conditions could result in future material losses.

The Company has various operating lease agreements in place for facilities and equipment as of December

2018

. 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 2028

. Aggregate rent expense was $4.6

million, $3.4

million, and $3.8

million in fiscal years

2018

2017

, and

2016

, respectively.

For the fiscal year ended December

2018

, the Company brewed over 80

% of its volume at Company-owned breweries. In the normal course of its business, the Company has historically entered into various production arrangements with other brewing companies. Pursuant to these arrangements, the Company supplies raw materials to those brewing companies, and incurs conversion fees for labor at the time the liquid is produced and packaged. The Company is also obligated to meet annual volume requirements in conjunction with certain production arrangements, which are not material to the Company’s operations.

On October

2018

, the Company amended an existing brewing services agreement to include a minimum capacity availability commitment by the third-party brewery. The amendment grants the Company the right to extend the agreement beyond the December 31, 2021 termination date on an annual basis through December 31, 2025.

The amendment requires the Company to pay up to $4

million in both

2018

and

2019

for capital improvements at the third party’s brewing facilities. At December 29, 2018, $

3.8

million of the 2018 payment was included in prepaid expenses and other current assets, and the $

million 2019 payment was included in the Company’s contractual obligations.

The Company’s arrangements with other brewing companies require it to periodically purchase equipment in support of brewery operations. As of December

2018

, there were no significant equipment purchase requirements outstanding under existing contracts. Changes to the Company’s brewing strategy or existing production arrangements, new production relationships or the introduction of new products in the future may require the Company to purchase equipment to support the contract breweries’ operations.

Litigation

The Company is currently not a party to any pending or threatened litigation, the outcome of which would be expected to have a material adverse effect on its financial condition or the results of its operations.

Fair Value Measures

12 Months Ended

Dec. 29, 2018

Fair Value Measures

K. 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 annually) 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 December 29, 2018 and December 30, 2017, 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 December 29, 2018, and December 30, 2017, the Company’s cash and cash equivalents balance was $108.4 million and $65.6 million, respectively, including money market funds amounting to $107.5 million and $63.8 million, respectively.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Common Stock and Share-Based Compensation

12 Months Ended

Dec. 29, 2018

Common Stock and Share-Based Compensation

L. Common Stock and Share-Based Compensation

Class A Common Stock

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.

Class B Common Stock

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 Class B Common Stock is freely convertible into one share of Class A Common Stock, upon request of any Class B holder, and participates equally in earnings.

All distributions with respect to the Company’s capital stock are restricted by the Company’s credit agreement, with the exception of distributions of capital stock from subsidiaries to The Boston Beer Company, Inc. and Boston Beer Corporation, repurchase from former employees of

non-vested

investment shares of Class A Common Stock issued under the Company’s equity incentive plan, redemption of certain shares of Class A Common Stock as approved by the Board of Directors and payment of cash dividends to its holders of common stock.

Employee Stock Compensation Plan

The Company’s Employee Equity Incentive Plan (the “Equity Plan”) currently provides for the grant of discretionary options, restricted stock awards and restricted stock units to employees, and provides for shares to be sold to employees of the Company at a discounted purchase price under its investment share program. The Equity Plan is administered by the Board of Directors of the Company, based on recommendations received from the Compensation Committee of the Board of Directors. The Compensation Committee consists of three independent directors. In determining the quantities and types of awards for grant, the Compensation Committee periodically reviews the objectives of the Company’s compensation system and takes into account the position and responsibilities of the employee being considered, the nature and value to the Company of his or her service and accomplishments, his or her present and potential contributions to the success of the Company, the value of the type of awards to the employee and such other factors as the Compensation Committee deems relevant.

Stock options and related vesting requirements and terms are granted at the Board of Directors’ discretion, but generally vest ratably over four to five-year periods and, with respect to certain options granted to members of senior management, based on the Company’s performance. Generally, the maximum contractual term of stock options is ten years, although the Board of Directors may grant options that exceed the

ten-year

term. During fiscal 2018, 2017, and 2016, the Company granted options to purchase 27,490 shares, 5,185 shares, 786,450 shares, respectively, of its Class A Common Stock to employees at market price on the grant dates. Of the 2018 and 2017 option grants, all shares related to performance-based stock options. Of the 2016 option grants, 574,507 shares relate to a special long-term service-based retention stock option issued to the former Chief Executive Officer, 173,135 shares relate to other special long-term service-based retention stock options and 38,808 shares relate to performance-based stock options.

Restricted stock awards are also granted at the Board of Directors’ discretion. During fiscal 2018, 2017, and 2016, the Company granted 83,561 shares, 15,800 shares, and 21,653 shares, respectively, of restricted stock awards to certain senior managers and key employees, all of which are service-based and vest ratably over service periods of three to five years.

The Equity Plan also has an 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 at a discount from current market value of 0% to 40%, based on the employee’s tenure with the Company. Investment shares vest ratably over service periods of five years. Participants may pay for these shares either up front or through payroll deductions over an eleven-month period during the year of purchase. During fiscal 2018, 2017, and 2016, employees elected to purchase an aggregate of 9,214 investment shares, 10,146 investment shares, and 9,199 investment shares, respectively.

The Company has reserved 6.7 million shares of Class A Common Stock for issuance pursuant to the Equity Plan, of which 1.2 million shares were available for grant as of December 29, 2018. Shares reserved for issuance under cancelled employee stock options and forfeited restricted stock are returned to the reserve under the Equity Plan for future grants or purchases. The Company also purchases unvested investment shares from employees who have left the Company at the lesser of (i) the price paid for the shares when the employee acquired the shares or (ii) the fair market value of the shares as of the date next preceding the date on which the shares are called for redemption by the Company. These shares are also returned to the reserve under the Equity Plan for future grants or purchases.

Non-Employee

Director Options

The Company has a stock option plan for

non-employee

directors of the Company (the

“Non-Employee

Director Plan”), pursuant to which each

non-employee

director of the Company is granted an option to purchase shares of the Company’s Class A Common Stock upon election or

re-election

to the Board of Directors. Stock options issued to

non-employee

directors vest upon grant and have a maximum contractual term of ten years. During fiscal 2018, 2017, and 2016 the Company granted options to purchase an aggregate of 5,080 shares, 10,188 shares, and 14,040 shares of the Company’s Class A Common Stock to

non-employee

directors, respectively.

The Company has reserved 0.6 million shares of Class A Common Stock for issuance pursuant to the

Non-Employee

Director Plan, of which 0.1 million shares were available for grant as of December 29, 2018. Cancelled

non-employee

directors’ stock options are returned to the reserve under the

Non-Employee

Director Plan for future grants.

Option Activity

Information related to stock options under the Equity Plan and the

Non-Employee

Director Plan is summarized as follows:

				Weighted-		Weighted-Average		Aggregate
				Average		Remaining		Intrinsic
				Exercise		Contractual Term		Value
	Shares			Price		in Years		(in thousands)
Outstanding at December 30, 2017		1,156,997		$	158.53
Granted		32,570			210.24
Forfeited		(613,630	)		199.94
Expired		(2,654	)		289.54
Exercised		(206,454	)		106.79
Outstanding at December 29, 2018		366,829		$	155.75		5.52	$	30,588
Exercisable at December 29, 2018		143,437		$	112.90		3.53	$	18,177
Vested and expected to vest at December 29, 2018		344,111		$	153.42		5.44	$	29,503

Of the total options outstanding at December

2018

, 50,616

shares were performance-based options for which the performance criteria had yet to be achieved and 10,341

shares were performance-based options for which the performance criteria had been met but yet to be approved for vesting by the Board of Directors.

Stock Compensation to Chief Executive Officer

On January

2016

, the Company granted the former Chief Executive Officer an option to purchase 574,507

shares of its Class A Common Stock, which vests over a

five

-year period, commencing on January

2019

, at the rate of 20

% per year. The exercise price is determined by multiplying $201.91

by the aggregate percentage change in the DJ Wilshire

5000

Index from and after January

2016

through the close of business on the trading date next preceding each date on which the option is exercised, plus an additional 1.5

percentage points per annum, prorated for partial years. The exercise price will not be less than $201.91

per share and the excess of the fair value of the Company’s Class A Common Stock cannot exceed $150

per share over the exercise price. At December

2018

and December

2017

, zero shares and 574,507

shares of the stock option remained outstanding, respectively. If the stock option had been exercised on December

2017

, the exercise price would have been $272.45

per share. The Company accounted for this award as a market-based award which was valued utilizing the Monte Carlo Simulation pricing model, which calculates multiple potential outcomes for an award and establishes fair value based on the most likely outcome. Under the Monte Carlo Simulation pricing model, the Company calculated the weighted average fair value per share to be $39.16

. As a result of the former Chief Executive Officer’s retirement in

2018

, the Company

cancelled the award.

On January

2008

, the Company granted the former Chief Executive Officer an option to purchase 753,864

shares of its Class A Common Stock, which vests over a five-year period, commencing on January

2014

, at the rate of 20

% per year. The exercise price

is determined by multiplying $42.00

by the aggregate change in the DJ Wilshire

5000

Index from and after January

2008

through the close of business on the trading date next preceding each date on which the option is exercised. The exercise price will not be less than $37.65 per share and the excess of the fair value of the Company’s Class A Common Stock cannot exceed $70

per share over the exercise price. At December

2018

and December

2017

, zero

shares and

150,773

shares of the stock option remained outstanding, respectively. If the outstanding shares at December

2017

were exercised on that date, the price would have been $121.10 per share. The Company accounted for this award as a market-based award which was valued utilizing the Monte Carlo Simulation pricing model, which calculates multiple potential outcomes for an award and establishes fair value based on the most likely outcome. Under the Monte Carlo Simulation pricing model, the Company calculated the weighted average fair value per share to be $8.41, and recorded stock-based compensation expense of $0.2 million and $0.3

million related to this option in the fiscal

2017

and

2016

, respectively.

On April

2018

, the Company granted its incoming Chief Executive Officer a performance-based stock option to purchase 9,959

shares of the Company’s Class A Common stock with a weighted average fair value of $100.50

per share, which vests through

2022

. The incoming Chief Executive Office was also granted 64,325

restricted stock awards with a weighted-average fair value of $229.30

per share with service-based vesting through

2023

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:

	2018		2017		2016

	(in thousands)
Amounts included in advertising, promotional and selling expenses	$	3,243	$	2,868	$	2,507
Amounts included in general and administrative expenses		6,792		3,448		3,641
Total stock-based compensation expense	$	10,035	$	6,316	$	6,148
Amounts related to performance-based stock awards included in total stock-based compensation expense	$	1,750	$	36	$	203

As permitted by ASC

718

, the Company uses a lattice model, such as the trinomial option-pricing model, to estimate the fair values of stock options. The Company believes that the Black-Scholes option-pricing model is less effective than the trinomial option-pricing model in valuing long-term options, as it assumes that volatility and interest rates are constant over the life of the option. In addition, the Company believes that the trinomial option-pricing model more accurately reflects the fair value of its stock awards, as it takes into account historical employee exercise patterns based on changes in the Company’s stock price and other relevant variables. The weighted-average fair value of stock options granted during

2018

2017

, and

2016

was $92.89

, $72.52

, and $87.70

per share, respectively, as calculated using a trinomial option-pricing model. The 2016 weighted-average fair value of the stock options excludes the January 1, 2016 stock option granted to the Chief Executive Officer with a weighted-average fair value of $39.16, as calculated using the Monte Carlo Simulation pricing model.

Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows:

	2018			2017			2016
Expected volatility		34.0	%		36.2	%		34.0	%
Risk-free interest rate		2.68	%		2.30	%		2.16	%
Expected dividends		0	%		0	%		0	%
Exercise factor		2.52 times			3.63 times			2.68 times
Discount for post-vesting restrictions		0.0	%		0.0	%		0.0	%

Expected volatility is based on the Company’s historical realized volatility. The risk-free interest rate represents the implied yields available from the U.S. Treasury

zero-coupon

yield curve over the contractual term of the option when using the trinomial option-pricing model. Expected dividend yield is 0

% because the Company has not paid dividends in the past and currently has no known intention to do so in the future. Exercise factor and discount for post-vesting restrictions are based on the Company’s historical experience.

Fair value of restricted stock awards is based on the Company’s traded stock price on the date of the grants. Fair value of investment shares is calculated using the trinomial option-pricing model.

The Company uses the straight-line attribution method in recognizing stock-based compensation expense for awards that vest based on service conditions. For awards that vest subject to performance conditions, compensation expense is recognized ratably for each tranche of the award over the performance period if it is probable that performance conditions will be met.

The Company recognizes compensation expense, less estimated forfeitures of

6.0

%. The forfeiture rate is based upon historical experience and the Company periodically reviews this rate to ensure proper projection of future forfeitures.

The total fair value of options vested during

2018

2017

, and

2016

was $3.2

million, $2.9

million, and $9.9

million, respectively. The aggregate intrinsic value of stock options exercised during

2018

2017

, and

2016

was $19.2

million, $14.9

million, and $52.7

million, respectively.

Based on equity awards outstanding as of December

2018

, there is $26.6

million of unrecognized compensation costs, net of estimated forfeitures, related to unvested share-based compensation arrangements that are expected to vest. Such costs are expected to be recognized over a weighted-average period of 2.2

years.

The following table summarizes the estimated future annual stock-based compensation expense related to share-based arrangements existing as of December 29, 2018 that are expected to vest (in thousands):

2019	$	9,172
2020		7,856
2021		5,488
2022		3,033
2023		888
Thereafter		196
Total	$	26,633

Non-Vested

Shares Activity

The following table summarizes vesting activities of shares issued under the investment share program and restricted stock awards:

				Weighted
	Number of			Average
	Shares			Fair Value
Non-vested at December 30, 2017		62,405		$	155.21
Granted		92,775			207.56
Vested		(20,678	)		156.50
Forfeited		(7,782	)		164.82
Non-vested at December 29, 2018		126,720		$	192.74

20,678

shares vested in

2018

with a weighted average fair value of $156.50

. 22,213

shares vested in

2017

with a weighted average fair value of $151.32

. 19,740

shares vested in

2016

with a weighted average fair value of $114.12

Stock Repurchase Program

In 1998, the Board of Directors authorized management to implement a stock repurchase program.

As of December 29, 2018, the Company has repurchased a cumulative total of approximately 13.8 million shares of its Class A Common Stock for an aggregate purchase price of approximately $840.7 million as follows:

			Aggregate
	Number of		Purchase
	Shares		Price
			(in thousands)
Repurchased at December 26, 2015		11,538,680	$	446,092
2016 repurchases		944,876		161,658
Repurchased at December 31, 2016		12,483,556		607,750
2017 repurchases		963,790		144,602
Repurchased at December 30, 2017		13,447,346		752,352
2018 repurchases		349,691		88,312
Repurchased at December 29, 2018		13,797,037		840,664

Employee Retirement Plans and Post-Retirement Medical Benefits

12 Months Ended

Dec. 29, 2018

Employee Retirement Plans and Post-Retirement Medical Benefits

M. Employee Retirement Plans and Post-Retirement Medical Benefits

The Company has one retirement plan covering substantially all

non-union

employees; two other retirement plans, one of which covers substantially all union employees, and the other of which covers employees of a specific union; and post-retirement medical benefits covering substantially all union employees.

Non-Union

Plans

The Boston Beer Company 401(k) Plan (the “Boston Beer 401(k) Plan”), which was established by the Company in 1993, is a Company-sponsored defined contribution plan that covers a majority of the Company’s

non-union

employees who are employed by Boston Beer Corporation, American Craft Brewery LLC, A & S Brewing Collaborative LLC, or Angry Orchard Cider Company, LLC. All

non-union

employees of these entities are eligible to participate in the Plan immediately upon employment. Participants may make voluntary contributions up to 60% of their annual compensation, subject to IRS limitations. The Company matches each participant’s contribution. A maximum of 6% of compensation is taken into account in determining the amount of the match. The Company matches 100% of the first $1,000 of the eligible compensation participants contribute. Thereafter, the Company matches 50% of the eligible contribution. The Company’s contributions to the Boston Beer 401(k) Plan amounted to $3.5 million, $3.2 million, and $3.5 million in fiscal years 2018, 2017, and 2016, respectively. The basic annual administrative fee for the Boston Beer 401(k) Plan is paid by the Plan’s investment fund revenue. In addition, per the Service Provider Payment Agreement, a credit up to a maximum of two basis points multiplied by the total amount of assets under the Plan per year is available for paying eligible Plan expenses. Participant forfeitures are also available for paying eligible Plan expenses. The Company is responsible for the payment of any additional fees related to the management of the Boston Beer 401(k) Plan. Such fees are not material to the Company.

Union Plans

The Samuel Adams Cincinnati Brewery 401(k) Plan for Represented Employees (the “SACB 401(k) Plan”) is a Company-sponsored defined contribution plan. It was established in 1997 and is available to all union employees upon commencement of employment or, if later, attaining age 21. Participants may make voluntary contributions up to 60% of their annual compensation to the SACB 401(k) Plan, subject to IRS limitations. Company contributions for fiscal 2018 and 2017 were insignificant. The basic annual administrative fee for the SACB 401(k) Plan is paid by the Plan’s investment fund revenue. In addition, per the Service Provider Payment Agreement, a credit up to a maximum of two basis points multiplied by the total amount of assets under the Plan per year, excluding participant loans, is available for paying eligible Plan expenses. The Company is responsible for the payment of any additional fees related to the management of the SACB 401(k) Plan. Such fees are not material to the Company.

The Samuel Adams Brewery Company, Ltd. Local Union No. 1199 Pension Plan (the “Local 1199 Pension Plan”) is a Company-sponsored defined benefit pension plan. 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”), or persons on leave from the Company who are employed by Local Union 1199, and in either case who have completed 12 consecutive months of employment with at least 750 hours worked. The defined benefit is determined based on years of service since July 1991. The Company made contributions of $315,000, $238,000 and $219,000 in 2018, 2017 and 2016, respectively. At December 29, 2018 and December 30, 2017, the unfunded projected pension benefits were $2.0 million and $2.2 million, respectively.

The Company provides a supplement to eligible retirees from Local 1, Local 20, and Local Union 1199 to assist them with the cost of Medicare gap coverage after their retirement on account of age or permanent disability. To qualify for this benefit (collectively, the “Retiree Medical Plan”), an employee must have worked for at least 20 years for the Company or its predecessor at the Company’s Cincinnati Brewery, must have been enrolled in the Company’s group medical insurance plan for at least 5 years before retirement and, in the case of retirees from Local 20, for at least 7 of the last 10 years of their employment, and must be eligible for Medicare benefits under the Social Security Act. The accumulated post-retirement benefit obligation was determined using a discount rate of 4.27% at December 29, 2018 and 3.68% at December 30, 2017 and a 2.5% health care cost increase based on the Cincinnati Consumer Price Index for the years 2018, 2017, and 2016. The effect of a 1% point increase and the effect of a 1% point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic post-retirement health care benefit costs and on the accumulated post-retirement benefit obligation for health care benefits would not be significant.

In addition, the comprehensive medical plan offered to currently employed members of Local 20 remains available to them should they retire after reaching age 57, and before reaching age 65, with at least 20 years of service with the Company or its predecessor at the Company’s Cincinnati Brewery. These eligible retirees may choose to continue to be covered under the Company’s comprehensive group medical plan until they reach the age when they are eligible for Medicare health benefits under the Social Security Act or coverage under a comparable State health benefit plan. Eligible retirees pay 100% of the cost of the coverage.

The funded status of the Local 1199 Pension Plan and the Retiree Medical Plan are as follows:

	Local 1199 Pension Plan						Retiree Medical Plan
	December 29,			December 30,			December 29,			December 30,
	2018			2017			2018			2017
	(in thousands)
Fair value of plan assets at end of fiscal year	$	3,322		$	3,330		$	—		$	—
Benefit obligation at end of fiscal year		5,357			5,572			731			799
Unfunded Status	$	(2,035	)	$	(2,242	)	$	(731	)	$	(799	)

The Local 1199 Pension Plan invests in a family of funds designed to minimize excessive short-term risk and focus on consistent, competitive long-term performance, consistent with the funds’ investment objectives. The fund-specific objectives vary and include maximizing long-term returns both before and after taxes, maximizing total return from capital appreciation plus income, and investing in funds that invest in common stock of companies that cover a broad range of industries. The Local 1199 Plan’s investments are considered category 1 assets in the fair value hierarchy and the fair values were determined by reference to

period-end

quoted market prices.

The basis of the long-term rate of return assumption of 6.5% reflects the Local 1199 Plan’s current targeted asset mix of approximately 35% debt securities and 65% equity securities with assumed average annual returns of approximately 3% to 6% for debt securities and 8% to 12% for equity securities. It is assumed that the Local 1199 Pension Plan’s investment portfolio will be adjusted periodically to maintain the targeted ratios of debt securities and equity securities. Additional consideration is given to the Local 1199 Plan’s historical returns as well as future long-range projections of investment returns for each asset category. The assumed discount rate in estimating the pension obligation was 4.27% and 3.68% at December 29, 2018 and December 30, 2017, respectively.

The Local 1199 Plan’s weighted-average asset allocations at the measurement dates by asset category are as follows:

	December 29,			December 30,
A sse t Category	2018			2017
Equity securities		61	%		67	%
Debt securities		39	%		33	%
Total		100	%		100	%

Net Income per Share

12 Months Ended

Dec. 29, 2018

Net Income per Share

N. Net Income per Share

Net Income per Common Share

—

Basic

The following table sets forth the computation of basic net income per share using the

two-class

method:

	December 29, 2018		December 30, 2017		December 31, 2016 (53 weeks)

	(in thousands, except per share data)
Net Income	$	92,663	$	99,049	$	87,349
Allocation of net income for basic:
Class A Common Stock	$	68,080	$	73,114	$	63,717
Class B Common Stock		23,710		25,391		23,190
Unvested participating shares		873		544		442
	$	92,663	$	99,049	$	87,349

Weighted average number of shares for basic:
Class A Common Stock		8,620		8,933		9,189
Class B Common Stock*		3,002		3,102		3,344
Unvested participating shares		111		67		64
		11,733		12,102		12,597
Net income per share for basic:
Class A Common Stock	$	7.90	$	8.18	$	6.93
Class B Common Stock	$	7.90	$	8.18	$	6.93

Change in Class B Common Stock resulted from the conversion of

100,000

shares to Class A Common Stock on March 7, 2017,

79,000

shares to Class A Common Stock on October 31, 2017, and

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.

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

method, which assumes the participating securities are not exercised or converted.

The following tables set 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

method for unvested participating shares:

	Fifty-two weeks ended December 29, 2018
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	68,080		8,620	$	7.90
Add: effect of dilutive potential common shares Share-based awards		—		112
Class B Common Stock		23,710		3,002
Net effect of unvested participating shares		8		—
Net income per common share — diluted	$	91,798		11,734	$	7.82

	Fifty-two weeks ended December 30, 2017
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	73,114		8,933	$	8.18
Add: effect of dilutive potential common shares Share-based awards		—		145
Class B Common Stock		25,391		3,102
Net effect of unvested participating shares		7		—
Net income per common share — diluted	$	98,512		12,180	$	8.09

	Fifty-three weeks ended December 31, 2016
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	63,717		9,189	$	6.93
Add: effect of dilutive potential common shares Share-based awards		—		263
Class B Common Stock		23,190		3,344
Net effect of unvested participating shares		9		—
Net income per common share — diluted	$	86,916		12,796	$	6.79

Basic net income per common share for each share of Class A Common Stock and Class B Common Stock is $7.90, $8.18, and $6.93 for the fiscal years 2018, 2017, and 2016, respectively, as each share of Class A and Class B participates equally in earnings. Shares of Class B are convertible at any time into shares of Class A on a

one-for-one

basis at the option of the stockholder.

Weighted average stock options to purchase 100,000, 785,000, and 712,000 shares of Class A Common Stock were outstanding during fiscal 2018, 2017, and 2016, respectively, but not included in computing diluted income per share because their effects were anti-dilutive. Additionally, performance-based stock options to purchase 10,000, 36,000, and 35,000 shares of Class A Common Stock were outstanding during fiscal 2018, 2017, and 2016, respectively, but not included in computing dilutive income per share because the performance criteria of these stock options were not met as of December 29, 2018, December 30, 2017, and December 31, 2016, respectively.

Furthermore, stock options to purchase 6,000 shares of Class A Common Stock were not included in computing diluted income per share because these stock options were cancelled during the

fifty-two

weeks ended December 29, 2018, due to performance criteria not being met or employee termination prior to vesting.

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 29, 2018

Accumulated Other Comprehensive Loss

O. Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss represents amounts of unrecognized actuarial gains or losses related to the Company sponsored defined benefit pension plan and post-retirement medical plan, net of tax effect, and cumulative currency translation adjustments. Changes in accumulated other comprehensive loss represent actuarial losses or gains, net of tax effect, recognized as components of net periodic benefit costs and currency translation adjustments due to tax rate changes in the period. The following table details the changes in accumulated other comprehensive loss for 2018, 2017, and 2016 (in thousands):

	Accumulated Other
	Comprehensive (Loss)
	Income
Balance at December 26, 2015	$	(951	)
Deferred pension and other post-retirement benefit costs, net of taxes of $69		122
Amortization of Deferred benefit costs, net of tax benefit of $101		(175	)
Currency translation adjustment		(99	)
Balance at December 31, 2016	$	(1,103	)
Deferred pension and other post-retirement benefit costs, net of tax benefit of $57		(170	)
Amortization of Deferred benefit costs, net of tax benefit of $11		(32	)
Currency translation adjustment		17
Balance at December 30, 2017	$	(1,288	)
Deferred pension and other post-retirement benefit costs, net of taxes of $64		191
Amortization of Deferred benefit costs, net of taxes of $29		86
One time effect of adoption of ASU 2018-02 , Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income		(211	)
Currency translation adjustment		25
Balance at December 29, 2018	$	(1,197	)

Valuation and Qualifying Accounts

12 Months Ended

Dec. 29, 2018

Valuation and Qualifying Accounts

P. Valuation and Qualifying Accounts

The Company maintains reserves against accounts receivable for doubtful accounts and inventory for obsolete and slow-moving inventory. The Company also maintains reserves against accounts receivable for distributor promotional allowances. In addition, the Company maintains a reserve for estimated returns of stale beer, which is included in accrued expenses.

Allowance for Doubtful Accounts	Balance at Beginning of Period		Net Provision (Recovery)			Amounts Charged Against Reserves		Balance at End of Period
			(In thousands)
2018	$	—	$	2		$	—	$	2
2017	$	—	$	—		$	—	$	—
2016	$	244	$	(244	)	$	—	$	—

Discount Accrual	Balance at Beginning of Period		Net Provision (Recovery) *		Amounts Charged Against Reserves			Balance at End of Period
			(In thousands)
2018	$	3,072	$	36,213	$	(34,649	)	$	4,636
2017	$	3,078	$	30,171	$	(30,177	)	$	3,072
2016	$	2,813	$	33,157	$	(32,892	)	$	3,078

Inventory Obsolescence Reserve	Balance at Beginning of Period		Net Provision (Recovery)		Amounts Charged Against Reserves			Balance at End of Period
			(In thousands)
2018	$	1,826	$	4,175	$	(3,421	)	$	2,580
2017	$	2,262	$	5,751	$	(6,187	)	$	1,826
2016	$	1,525	$	4,707	$	(3,970	)	$	2,262

Stale Beer Reserve	Balance at Beginning of Period		Net Provision (Recovery)		Amounts Charged Against Reserves			Balance at End of Period
			(In thousands)
2018	$	3,023	$	2,691	$	(3,568	)	$	2,146
2017	$	5,226	$	5,449	$	(7,652	)	$	3,023
2016	$	3,254	$	10,466	$	(8,494	)	$	5,226

*	2018 net provision of the discount accrual includes $1.7 million related to the cumulative effect adjustment to retained earnings and the current year adjustment to deferred revenue related to the adoption of ASU 2014-09.

Subsequent Events

12 Months Ended

Dec. 29, 2018

Subsequent Events

Q. Subsequent Events

The Company evaluated subsequent events occurring after the balance sheet date, December 29, 2018, and concluded that there were no 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.

Quarterly Results (Unaudited)

12 Months Ended

Dec. 29, 2018

Quarterly Results (Unaudited)

R. Quarterly Results (Unaudited)

The Company’s fiscal quarters are consistently determined year to year and generally consist of 13 weeks, except in those fiscal years in which there are fifty-three weeks where the last fiscal quarters then consist of 14 weeks. In management’s opinion, the following unaudited information includes all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the information for the quarters presented.

The operating results for any quarter are not necessarily indicative of results for any future quarters

	For Quarters Ended
	December 29, 2018		September 29, 2018 (2)		June 30, 2018		March 31, 2018		December 30, 2017 (1)		September 30, 2017		July 1, 2017		April 1, 2017
	(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)
	(In thousands, except per share data)
Net revenue	$	225,222	$	306,870	$	273,100	$	190,457	$	206,320	$	247,047	$	247,930	$	161,695
Gross profit		116,949		157,227		141,970		96,097		108,037		131,501		134,019		76,344
Operating income		28,851		46,728		31,064		9,238		14,863		51,496		45,288		4,028
Net income	$	21,811	$	38,007	$	23,535	$	9,310	$	30,530	$	33,683	$	29,125	$	5,711
Net income per share — basic	$	1.88	$	3.25	$	1.99	$	0.79	$	2.60	$	2.82	$	2.38	$	0.46
Net income per share — diluted	$	1.86	$	3.21	$	1.98	$	0.78	$	2.57	$	2.78	$	2.35	$	0.45

(1)	During the fourth quarter of 2017, the Company recorded a $20.3 million tax benefit due to the Tax Cuts and Jobs Act of 2017.

(2)	During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 29, 2018

Fiscal Year

The Company’s fiscal year is a

fifty-two

or fifty-three-week period ending on the last Saturday in December. The fiscal period 2018 consists of

fifty-two

weeks, the fiscal period 2017 consists of

fifty-two

weeks, and the fiscal period 2016 consists of fifty-three weeks.

Principles of Consolidation

Use of Estimates

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents at December 29, 2018 and December 30, 2017 included cash

on-hand

and money market instruments that are highly liquid investments. Cash and cash equivalents are carried at cost, which approximates fair value.

Accounts Receivable and Allowance for Doubtful Accounts

Concentrations of Credit Risk

Financial Instruments and Fair Value of Financial Instruments

Fair Value Measurements and Disclosures

Inventories and Provision for Excess or Expired Inventory

(first-in,

first-out

basis) or net realizable value. The Company’s goal is to maintain

on-hand

Property, Plant and Equipment

Depreciation is computed using the straight-line method based upon the estimated useful lives of the underlying assets as follows:


Kegs		5 years
Computer software and equipment		2 to 5 years
Office equipment and furniture		3 to 7 years
Machinery and plant equipment		3 to 20 years, or the term of the production agreement, whichever is shorter
Leasehold improvements		Lesser of the remaining term of the lease or estimated useful life of the asset
Building and building improvements		12 to 20 years, or the remaining useful life of the building, whichever is shorter

Segment Reporting

In 2016, sales from A&S brands were less than 5% of net revenues and in 2015, sales from A&S brands were less than 7% of net revenues.

Goodwill and Intangible Assets

Refundable Deposits on Kegs and Pallets

Income Taxes

. Historically, the valuation allowances and reserves for uncertain tax positions have been adequate to cover the related tax exposures.

Revenue Recognition and Classification of Customer Programs and Incentives

point-of-sale

and merchandise placement, samples, product displays, promotional programs at retail locations and meals, travel and entertainment. Amounts paid to customers in connection with these programs that were recorded as reductions to net revenue or as advertising, promotional and selling expenses totaled $55.5 million, $51.8 million and $54.4 million in fiscal year 2018, 2017 and 2016, respectively. Estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred.

point-of-sale

and merchandise placement, samples, product displays, promotional programs at retail locations and meals, travel and entertainment. Amounts paid to customers in connection with these programs in fiscal years 2018, 2017 and 2016 were $21.0 million, $21.6 million and $21.2 million, respectively. In fiscal 2018, 2017 and 2016, the Company recorded certain of these costs in the total amount of $13.9 million, $15.3 million and $16.1 million, respectively as reductions to net revenue. Costs recognized in net revenues include, but are not limited to, promotional discounts, sales incentives and certain other promotional activities. Costs recognized in advertising, promotional and selling expenses include point of sale materials, samples and media advertising expenditures in local markets. These costs are recorded as incurred, generally when invoices are received; however certain estimates are required at period end. Estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred.

Excise Taxes

The Company benefited from a reduction in federal excise taxes of $6.1 million in fiscal 2018, as a result of the Tax Cuts and Jobs Act of 2017.

Cost of Goods Sold

Shipping Costs

Advertising and Sales Promotions

point-of-sale

General and Administrative Expenses

Stock-Based Compensation

The Company accounts for share-based awards in accordance with ASC Topic 718,

Compensation – Stock Compensation

In addition, an estimated

pre-vesting

Net Income Per Share

two-class

method, whichever is more dilutive.

Accounting Pronouncements Recently Adopted

In May 2014, the FASB issued ASU

No. 2014-09,

Revenue from Contracts with Customers (Topic 606)

. ASU

2014-09

In March 2016, the FASB issued ASU

No. 2016-09,

Stock Compensation (Topic 718), Improvements to Employee Share-Based Payment Accounting

. ASU

2016-09

2016-09,

fifty-two

In February 2018, the FASB issued

ASU No. 2018-02,

Income Statement – Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.

Accounting Pronouncements Not Yet Effective

In February 2016, the FASB issued ASU No. 2016-02,

Leases (Topic 842)

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 29, 2018

Estimated Useful Lives

Depreciation is computed using the straight-line method based upon the estimated useful lives of the underlying assets as follows:


Kegs		5 years
Computer software and equipment		2 to 5 years
Office equipment and furniture		3 to 7 years
Machinery and plant equipment		3 to 20 years, or the term of the production agreement, whichever is shorter
Leasehold improvements		Lesser of the remaining term of the lease or estimated useful life of the asset
Building and building improvements		12 to 20 years, or the remaining useful life of the building, whichever is shorter

Inventories (Tables)

12 Months Ended

Dec. 29, 2018

Components of Inventories

Inventories consisted of the following:

	December 29, 2018		December 30, 2017
	(in thousands)
Current inventory:
Raw materials	$	44,655	$	33,086
Work in process		8,252		6,826
Finished goods		17,342		10,739
Total current inventory		70,249		50,651
Long term inventory		11,619		9,905
Total inventory	$	81,868	$	60,556

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 29, 2018

Summary of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:

	December 29, 2018		December 30, 2017

	(in thousands)
Prepaid equipment	$	3,789	$	—
Excise and other tax receivables		2,179		1,651
Prepaid malt and barley		1,629		1,819
Prepaid advertising, promotional and selling		1,518		3,328
Prepaid insurance		1,111		1,055
Prepaid compensation		1,000		—
Prepaid software expense		754		—
Supplier and vendor rebates		265		1,464
Other		891		1,378
	$	13,136	$	10,695

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 29, 2018

Summary of Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	December 29, 2018		December 30, 2017
	(in thousands)
Machinery and plant equipment	$	476,174	$	438,925
Kegs		67,940		69,049
Land		22,295		22,295
Building and building improvements		120,111		112,912
Office equipment and furniture		26,703		24,307
Leasehold improvements		20,830		16,660
		734,053		684,148
Less accumulated depreciation		(344,264)		(299,868)
	$	389,789	$	384,280

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 29, 2018

Summary of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following:

	December 29, 2018		December 30, 2017

	(in thousands)
Employee wages, benefits and reimbursements	$	27,074	$	16,275
Accrued deposits		18,171		14,224
Advertising, promotional and selling expenses		9,079		13,605
Deferred revenue		4,587		5,472
Accrued excise taxes		2,335		2,015
Accrued stale beer		2,146		3,023
Accrued sales and use tax		1,914		1,873
Accrued freight		1,668		1,518
Other accrued liabilities		6,438		5,612
	$	73,412	$	63,617

Income Taxes (Tables)

12 Months Ended

Dec. 29, 2018

Significant Components of Provisions for Income Taxes

Significant components of the provision for income taxes are as follows:

	2018		2017			2016
			(in thousands)
Current:
Federal	$	4,471	$	34,255		$	35,390
State		4,894		5,225			6,108
Total current		9,365		39,480			41,498
Deferred:
Federal		12,860		(22,489	)		7,666
State		1,398		102			608
Total deferred		14,258		(22,387	)		8,274
Total provision for income taxes	$	23,623	$	17,093		$	49,772

Reconciliations to Statutory Rates

The Company’s reconciliations to statutory rates are as follows:

	2018			2017			2016
Statutory rate		21.0	%		35.0	%		35.0	%
State income taxes, net of federal benefit		4.6			3.6			3.6
Deduction relating to U.S. production activities		—			(3.2	)		(2.6	)
Deduction relating to excess stock based compensation		(3.6	)		(3.7	)		—
Change relating to enacted Tax Cuts and Jobs Act		—			(17.5	)		—
Non- deductable meals & entertainment		1.1			0.9			0.9
Accounting method changes		(3.9	)		—			—
Change in valuation allowance		0.7			—			(0.3	)
Other		0.4			(0.4	)		(0.3	)
		20.3	%		14.7	%		36.3	%

Significant Components of Company's Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows at:

	December 29, 2018			December 30, 2017
	(in thousands)
Deferred tax assets:
Accrued expenses	$	1,913		$	2,484
Stock-based compensation expense		5,156			4,175
Inventory		1,356			435
Other		2,478			2,598
Total deferred tax assets		10,903			9,692
Valuation allowance		(1,291	)		(439	)
Total deferred tax assets net of valuation allowance		9,612			9,253
Deferred tax liabilities:
Property, plant and equipment		(57,099	)		(42,076	)
Prepaid expenses		(949	)		(1,341	)
Goodwill		(733	)		(655	)
Total deferred tax liabilities		(58,781	)		(44,072	)
Net deferred tax liabilities	$	(49,169	)	$	(34,819	)

Reconciliation of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2018			2017
	(in thousands)
Balance at beginning of year	$	292		$	589
Increases related to current year tax positions		8			64
(Decreases) Increases related to prior year tax positions		636			(259	)
Decreases related to settlements		(100	)		(62	)
Decreases related to lapse of statute of limitations		—			(40	)
Balance at end of year	$	836		$	292

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 29, 2018

Non-cancelable Contractual Obligations

As of December 29, 2018, projected cash outflows under

non-cancelable

contractual obligations for the remaining years under the contracts are as follows:

	Payments Due by Period
	Total		2019		2020		2021		2022		2023		Thereafter

	(in thousands)
Brand support		63,728	$	37,553	$	5,041	$	4,335	$	4,200	$	4,200	$	8,399
Hops, barley and wheat		61,065		35,019		8,855		6,444		4,575		2,343		3,829
Apples and other ingredients		33,028		33,028		—		—		—		—		—
Equipment and machinery		28,403		28,403		—		—		—		—		—
Operating leases		26,159		4,446		4,530		4,370		3,559		1,672		7,582
Other		14,437		10,089		2,499		1,424		300		125		—
Total contractual obligations	$	226,820	$	148,538	$	20,925	$	16,573	$	12,634	$	8,340	$	19,810

Common Stock and Share-Based Compensation (Tables)

12 Months Ended

Dec. 29, 2018

Summary of Stock Options under Equity Plan and Non-Employee Director Plan

Information related to stock options under the Equity Plan and the

Non-Employee

Director Plan is summarized as follows:

				Weighted-		Weighted-Average		Aggregate
				Average		Remaining		Intrinsic
				Exercise		Contractual Term		Value
	Shares			Price		in Years		(in thousands)
Outstanding at December 30, 2017		1,156,997		$	158.53
Granted		32,570			210.24
Forfeited		(613,630	)		199.94
Expired		(2,654	)		289.54
Exercised		(206,454	)		106.79
Outstanding at December 29, 2018		366,829		$	155.75		5.52	$	30,588
Exercisable at December 29, 2018		143,437		$	112.90		3.53	$	18,177
Vested and expected to vest at December 29, 2018		344,111		$	153.42		5.44	$	29,503

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:

	2018		2017		2016

	(in thousands)
Amounts included in advertising, promotional and selling expenses	$	3,243	$	2,868	$	2,507
Amounts included in general and administrative expenses		6,792		3,448		3,641
Total stock-based compensation expense	$	10,035	$	6,316	$	6,148
Amounts related to performance-based stock awards included in total stock-based compensation expense	$	1,750	$	36	$	203

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:

	2018			2017			2016
Expected volatility		34.0	%		36.2	%		34.0	%
Risk-free interest rate		2.68	%		2.30	%		2.16	%
Expected dividends		0	%		0	%		0	%
Exercise factor		2.52 times			3.63 times			2.68 times
Discount for post-vesting restrictions		0.0	%		0.0	%		0.0	%

Summary of Estimated Future Annual Stock-Based Compensation Expense

2019	$	9,172
2020		7,856
2021		5,488
2022		3,033
2023		888
Thereafter		196
Total	$	26,633

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:

				Weighted
	Number of			Average
	Shares			Fair Value
Non-vested at December 30, 2017		62,405		$	155.21
Granted		92,775			207.56
Vested		(20,678	)		156.50
Forfeited		(7,782	)		164.82
Non-vested at December 29, 2018		126,720		$	192.74

Stock Repurchases

			Aggregate
	Number of		Purchase
	Shares		Price
			(in thousands)
Repurchased at December 26, 2015		11,538,680	$	446,092
2016 repurchases		944,876		161,658
Repurchased at December 31, 2016		12,483,556		607,750
2017 repurchases		963,790		144,602
Repurchased at December 30, 2017		13,447,346		752,352
2018 repurchases		349,691		88,312
Repurchased at December 29, 2018		13,797,037		840,664

Employee Retirement Plans and Post-Retirement Medical Benefits (Tables)

12 Months Ended

Dec. 29, 2018

Funded Status of Local 1199 Pension Plan and Retiree Medical Plan

The funded status of the Local 1199 Pension Plan and the Retiree Medical Plan are as follows:

	Local 1199 Pension Plan						Retiree Medical Plan
	December 29,			December 30,			December 29,			December 30,
	2018			2017			2018			2017
	(in thousands)
Fair value of plan assets at end of fiscal year	$	3,322		$	3,330		$	—		$	—
Benefit obligation at end of fiscal year		5,357			5,572			731			799
Unfunded Status	$	(2,035	)	$	(2,242	)	$	(731	)	$	(799	)

Local 1199 Plan's Weighted-Average Asset Allocations

The Local 1199 Plan’s weighted-average asset allocations at the measurement dates by asset category are as follows:

	December 29,			December 30,
A sse t Category	2018			2017
Equity securities		61	%		67	%
Debt securities		39	%		33	%
Total		100	%		100	%

Net Income per Share (Tables)

12 Months Ended

Dec. 29, 2018

Computation of Earnings Per Share, Basic

The following table sets forth the computation of basic net income per share using the

two-class

method:

	December 29, 2018		December 30, 2017		December 31, 2016 (53 weeks)

	(in thousands, except per share data)
Net Income	$	92,663	$	99,049	$	87,349
Allocation of net income for basic:
Class A Common Stock	$	68,080	$	73,114	$	63,717
Class B Common Stock		23,710		25,391		23,190
Unvested participating shares		873		544		442
	$	92,663	$	99,049	$	87,349

Weighted average number of shares for basic:
Class A Common Stock		8,620		8,933		9,189
Class B Common Stock*		3,002		3,102		3,344
Unvested participating shares		111		67		64
		11,733		12,102		12,597
Net income per share for basic:
Class A Common Stock	$	7.90	$	8.18	$	6.93
Class B Common Stock	$	7.90	$	8.18	$	6.93

Change in Class B Common Stock resulted from the conversion of

100,000

shares to Class A Common Stock on March 7, 2017,

79,000

shares to Class A Common Stock on October 31, 2017, and

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.

Computation of Earnings Per Share, Diluted

The following tables set 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

method for unvested participating shares:

	Fifty-two weeks ended December 29, 2018
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	68,080		8,620	$	7.90
Add: effect of dilutive potential common shares Share-based awards		—		112
Class B Common Stock		23,710		3,002
Net effect of unvested participating shares		8		—
Net income per common share — diluted	$	91,798		11,734	$	7.82

	Fifty-two weeks ended December 30, 2017
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	73,114		8,933	$	8.18
Add: effect of dilutive potential common shares Share-based awards		—		145
Class B Common Stock		25,391		3,102
Net effect of unvested participating shares		7		—
Net income per common share — diluted	$	98,512		12,180	$	8.09

	Fifty-three weeks ended December 31, 2016
	Earnings to Common Shareholders		Common Shares		EPS
	(in thousands, except per share data)
As reported — basic	$	63,717		9,189	$	6.93
Add: effect of dilutive potential common shares Share-based awards		—		263
Class B Common Stock		23,190		3,344
Net effect of unvested participating shares		9		—
Net income per common share — diluted	$	86,916		12,796	$	6.79

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Dec. 29, 2018

Changes in Accumulated Other Comprehensive Loss

The following table details the changes in accumulated other comprehensive loss for 2018, 2017, and 2016 (in thousands):

	Accumulated Other
	Comprehensive (Loss)
	Income
Balance at December 26, 2015	$	(951	)
Deferred pension and other post-retirement benefit costs, net of taxes of $69		122
Amortization of Deferred benefit costs, net of tax benefit of $101		(175	)
Currency translation adjustment		(99	)
Balance at December 31, 2016	$	(1,103	)
Deferred pension and other post-retirement benefit costs, net of tax benefit of $57		(170	)
Amortization of Deferred benefit costs, net of tax benefit of $11		(32	)
Currency translation adjustment		17
Balance at December 30, 2017	$	(1,288	)
Deferred pension and other post-retirement benefit costs, net of taxes of $64		191
Amortization of Deferred benefit costs, net of taxes of $29		86
One time effect of adoption of ASU 2018-02 , Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income		(211	)
Currency translation adjustment		25
Balance at December 29, 2018	$	(1,197	)

Valuation and Qualifying Accounts (Tables)

12 Months Ended

Dec. 29, 2018

Summary of Valuation and Qualifying Accounts

In addition, the Company maintains a reserve for estimated returns of stale beer, which is included in accrued expenses.

Allowance for Doubtful Accounts	Balance at Beginning of Period		Net Provision (Recovery)			Amounts Charged Against Reserves		Balance at End of Period
			(In thousands)
2018	$	—	$	2		$	—	$	2
2017	$	—	$	—		$	—	$	—
2016	$	244	$	(244	)	$	—	$	—

Discount Accrual	Balance at Beginning of Period		Net Provision (Recovery) *		Amounts Charged Against Reserves			Balance at End of Period
			(In thousands)
2018	$	3,072	$	36,213	$	(34,649	)	$	4,636
2017	$	3,078	$	30,171	$	(30,177	)	$	3,072
2016	$	2,813	$	33,157	$	(32,892	)	$	3,078

Inventory Obsolescence Reserve	Balance at Beginning of Period		Net Provision (Recovery)		Amounts Charged Against Reserves			Balance at End of Period
			(In thousands)
2018	$	1,826	$	4,175	$	(3,421	)	$	2,580
2017	$	2,262	$	5,751	$	(6,187	)	$	1,826
2016	$	1,525	$	4,707	$	(3,970	)	$	2,262

Stale Beer Reserve	Balance at Beginning of Period		Net Provision (Recovery)		Amounts Charged Against Reserves			Balance at End of Period
			(In thousands)
2018	$	3,023	$	2,691	$	(3,568	)	$	2,146
2017	$	5,226	$	5,449	$	(7,652	)	$	3,023
2016	$	3,254	$	10,466	$	(8,494	)	$	5,226

*	2018 net provision of the discount accrual includes $1.7 million related to the cumulative effect adjustment to retained earnings and the current year adjustment to deferred revenue related to the adoption of ASU 2014-09.

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Dec. 29, 2018

Quarterly Results

The operating results for any quarter are not necessarily indicative of results for any future quarters

	For Quarters Ended
	December 29, 2018		September 29, 2018 (2)		June 30, 2018		March 31, 2018		December 30, 2017 (1)		September 30, 2017		July 1, 2017		April 1, 2017
	(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)		(13 weeks)
	(In thousands, except per share data)
Net revenue	$	225,222	$	306,870	$	273,100	$	190,457	$	206,320	$	247,047	$	247,930	$	161,695
Gross profit		116,949		157,227		141,970		96,097		108,037		131,501		134,019		76,344
Operating income		28,851		46,728		31,064		9,238		14,863		51,496		45,288		4,028
Net income	$	21,811	$	38,007	$	23,535	$	9,310	$	30,530	$	33,683	$	29,125	$	5,711
Net income per share — basic	$	1.88	$	3.25	$	1.99	$	0.79	$	2.60	$	2.82	$	2.38	$	0.46
Net income per share — diluted	$	1.86	$	3.21	$	1.98	$	0.78	$	2.57	$	2.78	$	2.35	$	0.45

(1)	During the fourth quarter of 2017, the Company recorded a $20.3 million tax benefit due to the Tax Cuts and Jobs Act of 2017.

(2)	During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 29, 2018 USD ($) Customer	Dec. 30, 2017 USD ($) Customer	Dec. 31, 2016 USD ($) Customer	Dec. 26, 2015	Dec. 30, 2018 USD ($)
Organization And Summary Of Significant Accounting Policies [Line Items]
Reserve	$ 2,100,000	$ 3,000,000
Restricted cash	$ 278,000	$ 340,000
Number of individual customer accounted for more than ten percent of account receivable balance \| Customer	0	0
Number of individual customers represented more than ten percent of revenues \| Customer	0	0	0
Sales to foreign distributors as a percentage of total sales	4.00%	4.00%	4.00%
Inventory on hand, purchase commitment	$ 176,300,000
Provision for excess or expired inventory	4,200,000	$ 5,800,000	$ 4,500,000
Property, plant and equipment, net	389,789,000	384,280,000
Impairment of assets	652,000	2,451,000	(235,000)
Goodwill	3,683,000	3,683,000
Decrease in refundable deposits for lost kegs and pallets	(1,200,000)	(1,000,000)
Decrease in gross property, plant and equipment	(1,100,000)	(1,000,000)
Decrease in property, plant and equipment related accumulated depreciation	(1,100,000)	1,000,000
Refundable deposits on kegs and pallets	17,000,000	12,900,000
Income tax expense	23,623,000	17,093,000	49,772,000
Deferred Revenue, Current	4,587,000	5,472,000
Amounts paid to customers	304,853,000	258,649,000	244,213,000
Advertising and sales promotional expenditures	145,100,000	128,000,000	105,300,000
Shipping costs	61,800,000	45,300,000	49,200,000
Stock-based compensation	10,035,000	6,316,000	6,148,000
Excess tax benefit from stock-based compensation arrangements recognized within income tax provision	$ 4,200,000	$ 4,400,000	$ 12,524,000
Sales to domestic distributors as a percentage of total sales	95.00%	95.00%	95.00%
Sales to retail locations as a percentage of total sales	1.00%	1.00%	1.00%
Reduction in federal excise taxes	$ 6,100,000
Cumulative Effect on Retained Earnings, Net of Tax related to variable customer promotional discount programs	1,000,000
Tax Cuts and Jobs Act, Reclassification from AOCI to Retained Earnings, Tax Effect	200,000
Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
cumulative effect adjustment to right of use assets					$ 27,000,000
cumulative effect adjustment to lease liabilities					30,000,000
Minimum
Organization And Summary Of Significant Accounting Policies [Line Items]
cumulative effect adjustment to right of use assets					25,500,000
cumulative effect adjustment to lease liabilities					$ 31,500,000
A&S brands \| Product Concentration Risk \| Sales Revenue, Net \| Maximum
Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			5.00%	7.00%
Boston Beer Company Reporting Unit
Organization And Summary Of Significant Accounting Policies [Line Items]
Goodwill	3,700,000	$ 3,700,000
A&S Brewing Collaborative Reporting Unit
Organization And Summary Of Significant Accounting Policies [Line Items]
intangible assets	2,100,000	2,000,000
Kegs
Organization And Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, net	1,900,000	5,900,000
Distributors
Organization And Summary Of Significant Accounting Policies [Line Items]
Amounts paid to distributors	34,500,000	30,200,000	$ 33,200,000
Advertising and sales promotional expenditures	21,000,000	21,600,000	21,200,000
Reduction in revenue related to advertising, promotional and selling expenses	13,900,000	15,300,000	16,100,000
Customers programs and incentives
Organization And Summary Of Significant Accounting Policies [Line Items]
Amounts paid to customers	$ 55,500,000	$ 51,800,000	$ 54,400,000

Estimated Useful Lives (Detail)	12 Months Ended
Estimated Useful Lives (Detail)	Dec. 29, 2018
Kegs
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Computer Software and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	2 years
Computer Software and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	5 years
Office Equipment and Furniture \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Office Equipment and Furniture \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	7 years
Equipment and machinery
Property, Plant and Equipment [Line Items]
Estimated useful life	3 to 20 years, or the term of the production agreement, whichever is shorter
Equipment and machinery \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Equipment and machinery \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Estimated useful life	Lesser of the remaining term of the lease or estimated useful life of the asset
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Estimated useful life	12 to 20 years, or the remaining useful life of the building, whichever is shorter
Building and Building Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	12 years
Building and Building Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years

Components of Inventories (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Current inventory:
Raw materials	$ 44,655	$ 33,086
Work in process	8,252	6,826
Finished goods	17,342	10,739
Total current inventory	70,249	50,651
Long term inventory	11,619	9,905
Total inventory	$ 81,868	$ 60,556

Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Line Items]
Prepaid equipment	$ 3,789
Excise and other tax receivables	2,179	$ 1,651
Prepaid malt and barley	1,629	1,819
Prepaid advertising, promotional and selling	1,518	3,328
Prepaid insurance	1,111	1,055
Prepaid compensation	1,000
Prepaid software expense	754
Supplier and vendor rebates	265	1,464
Other	891	1,378
Prepaid Expenses and Other Current Assets	$ 13,136	$ 10,695

Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Property, Plant and Equipment [Line Items]
Machinery and plant equipment	$ 476,174	$ 438,925
Kegs	67,940	69,049
Land	22,295	22,295
Building and building improvements	120,111	112,912
Office equipment and furniture	26,703	24,307
Leasehold improvements	20,830	16,660
Property, Plant and Equipment, Gross, Total	734,053	684,148
Less accumulated depreciation	(344,264)	(299,868)
Property, plant and equipment, net	$ 389,789	$ 384,280

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 51,800	$ 51,200	$ 49,300
Impairment of assets	$ 652	$ 2,451	716
Gain (loss) on disposal of property, plant and equipment			951
Land
Property, Plant and Equipment [Line Items]
Gain (loss) on disposal of property, plant and equipment			$ 1,000

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Goodwill [Line Items]
Goodwill	$ 3,683	$ 3,683

Summary of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Other Liabilities [Line Items]
Employee wages, benefits and reimbursements	$ 27,074	$ 16,275
Accrued deposits	18,171	14,224
Advertising, promotional and selling expenses	9,079	13,605
Deferred revenue	4,587	5,472
Accrued excise taxes	2,335	2,015
Accrued stale beer	2,146	3,023
Accrued sales and use tax	1,914	1,873
Accrued freight	1,668	1,518
Other accrued liabilities	6,438	5,612
Accrued expenses and other current liabilities	$ 73,412	$ 63,617

Revolving Line of Credit - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017
Debt Instrument [Line Items]
Commitment fee	0.15%
Credit facility, borrowing outstanding	$ 0	$ 0
EBITDA to interest expense ratio	14,918
EBITDA to interest expense, minimum allowable ratio	2.00
Total funded debt to EBITDA ratio	0.0
Total funded debt to EBITDA, maximum allowable ratio	2.50
Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, current borrowing capacity	$ 150,000,000
Basis spread on variable rate	0.45%
Line of credit, expiration date	Mar. 31, 2023
Debt, covenant compliance	The Company was in compliance with all financial covenants as of December 29, 2018 and December 30, 2017.
Revolving Credit Facility \| Alternative Prime Rate
Debt Instrument [Line Items]
Debt interest rate at end of period	5.50%
Revolving Credit Facility \| LIBOR rate
Debt Instrument [Line Items]
Debt interest rate at end of period	2.46%

Significant Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Current:
Federal	$ 4,471	$ 34,255	$ 35,390
State	4,894	5,225	6,108
Total current	9,365	39,480	41,498
Deferred:
Federal	12,860	(22,489)	7,666
State	1,398	102	608
Total deferred	14,258	(22,387)	8,274
Total provision for income taxes	$ 23,623	$ 17,093	$ 49,772

Reconciliations to Statutory Rates (Detail)	12 Months Ended
Reconciliations to Statutory Rates (Detail)	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Reconciliation of Statutory Federal Tax Rate [Line Items]
Statutory rate	21.00%	35.00%	35.00%
State income taxes, net of federal benefit	4.60%	3.60%	3.60%
Deduction relating to U.S. production activities		(3.20%)	(2.60%)
Deduction relating to excess stock based compensation	(3.60%)	(3.70%)
Change relating to enacted Tax Cuts and Jobs Act		(17.50%)
Non-deductablemeals & entertainment	1.10%	0.90%	0.90%
Accounting method changes	(3.90%)
Change in valuation allowance	0.70%		(0.30%)
Other	0.40%	(0.40%)	(0.30%)
Effective Income Tax Rate Reconciliation, Percent, Total	20.30%	14.70%	36.30%

Income Taxes - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 29, 2018 USD ($) State	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Income Taxes [Line Items]
Interest and penalties included in provision for incomes taxes	$ 0.1	$ 0.0	$ 0.0
Accrued interest and penalties	0.1	0.0
Unrecognized tax benefits that would impact the effective tax rate if recognized	$ 0.8	$ 0.3
Number of states being audited \| State	1
Deferred tax assets capital loss carryforward	$ 1.7
Deferred tax assets capital loss carryforward expiration year	2019
One-time income tax benefit	$ 4.5
State and Local Jurisdiction
Income Taxes [Line Items]
Income tax return examination	In September 2017, the Internal Revenue Service (“IRS”) commenced an examination of the Company’s 2015 consolidated corporate income tax return. The examination was completed in July 2018 resulting in a no change report. As of December 29, 2018, the Company’s 2016 and 2017 federal income tax returns remain subject to examination by IRS. The Company’s state income tax returns remain subject to examination for three or four years depending on the state’s statute of limitations.
Income tax return examination period	3 years
State and Local Jurisdiction \| Maximum
Income Taxes [Line Items]
Income tax return examination period	4 years

Significant Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Deferred tax assets:
Accrued expenses	$ 1,913	$ 2,484
Stock-based compensation expense	5,156	4,175
Inventory	1,356	435
Other	2,478	2,598
Total deferred tax assets	10,903	9,692
Valuation allowance	(1,291)	(439)
Total deferred tax assets net of valuation allowance	9,612	9,253
Deferred tax liabilities:
Property, plant and equipment	(57,099)	(42,076)
Prepaid expenses	(949)	(1,341)
Goodwill	(733)	(655)
Total deferred tax liabilities	(58,781)	(44,072)
Net deferred tax liabilities	$ (49,169)	$ (34,819)

Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017
Schedule of Unrecognized Tax Benefits [Line Items]
Balance at beginning of year	$ 292	$ 589
Increases related to current year tax positions	8	64
(Decreases) Increases related to prior year tax positions	636	(259)
Decreases related to settlements	(100)	(62)
Decreases related to lapse of statute of limitations		(40)
Balance at end of year	$ 836	$ 292

Non-cancelable Contractual Obligations (Detail) $ in Thousands	Dec. 29, 2018 USD ($)
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	$ 226,820
Contractual obligations payment due, 2019	148,538
Contractual obligations payment due, 2020	20,925
Contractual obligations payment due, 2021	16,573
Contractual obligations payment due, 2022	12,634
Contractual obligations payment due, 2023	8,340
Thereafter	19,810
Equipment and machinery
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	28,403
Contractual obligations payment due, 2019	28,403
Operating Leases
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	26,159
Contractual obligations payment due, 2019	4,446
Contractual obligations payment due, 2020	4,530
Contractual obligations payment due, 2021	4,370
Contractual obligations payment due, 2022	3,559
Contractual obligations payment due, 2023	1,672
Thereafter	7,582
Brand Support
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	63,728
Contractual obligations payment due, 2019	37,553
Contractual obligations payment due, 2020	5,041
Contractual obligations payment due, 2021	4,335
Contractual obligations payment due, 2022	4,200
Contractual obligations payment due, 2023	4,200
Thereafter	8,399
Hops, Barley and Wheat
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	61,065
Contractual obligations payment due, 2019	35,019
Contractual obligations payment due, 2020	8,855
Contractual obligations payment due, 2021	6,444
Contractual obligations payment due, 2022	4,575
Contractual obligations payment due, 2023	2,343
Thereafter	3,829
Apples and other ingredients
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	33,028
Contractual obligations payment due, 2019	33,028
Other Commitments
Schedule Of Contractual Commitments [Line Items]
Contractual obligations payment due, total	14,437
Contractual obligations payment due, 2019	10,089
Contractual obligations payment due, 2020	2,499
Contractual obligations payment due, 2021	1,424
Contractual obligations payment due, 2022	300
Contractual obligations payment due, 2023	$ 125

Commitments and Contingencies - Additional Information (Detail) $ in Thousands		12 Months Ended
	Oct. 11, 2018 USD ($)	Dec. 29, 2018 USD ($)	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Commitments and Contingencies Disclosure [Line Items]
Capital improvement for 2019		$ 148,538
Contractual obligations		226,820
Capital improvements included in prepaid expenses and other current assets		13,136	$ 10,695
Third Party Brewery
Commitments and Contingencies Disclosure [Line Items]
Contractual Obligation, Future Minimum Payments Due, Remainder of Fiscal Year	$ 4,000
Capital improvement for 2019	$ 4,000
Amendment date description	The amendment grants the Company the right to extend the agreement beyond the December 31, 2021 termination date on an annual basis through December 31, 2025.
Contractual obligations		3,800
Capital improvements included in prepaid expenses and other current assets		$ 4,000
Operating Leases
Commitments and Contingencies Disclosure [Line Items]
Lease expiration dates		2028
Rent expense		$ 4,600	$ 3,400	$ 3,800
Capital improvement for 2019		4,446
Contractual obligations		$ 26,159
Minimum
Commitments and Contingencies Disclosure [Line Items]
Company's current brewing and packaging percentage		80.00%
Barley and Wheat
Commitments and Contingencies Disclosure [Line Items]
Number of suppliers		2
Purchase commitments outstanding		$ 15,600
Hops
Commitments and Contingencies Disclosure [Line Items]
Purchase commitments		$ 45,500

Fair Value Measures - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 108,399	$ 65,637
Money market fund	$ 107,500	$ 63,800

Common Stock and Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended	12 Months Ended
	Apr. 30, 2018	Jan. 01, 2008	Jan. 31, 2016	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, contractual term				5 years 6 months 7 days
Other than options granted in period				92,775
Options granted in period - weighted average fair value				$ 92.89	$ 72.52	$ 87.70
Stock option outstanding				366,829	1,156,997
Exercise Price Per Share				$ 210.24
Estimated forfeiture rate for equity awards that do not vest on January 1st				6.00%
Stock-based compensation expense				$ 10,035	$ 6,316	$ 6,148
Weighted average fair value of stock awards				$ 207.56
Expected dividends				0.00%	0.00%	0.00%
Total fair value of options vested in period				$ 3,200	$ 2,900	$ 9,900
Aggregate intrinsic value of stock options exercised in period				19,200	$ 14,900	$ 52,700
Unrecognized compensation costs				$ 26,633
Unrecognized compensation costs, weighted average period				2 years 2 months 12 days
Option vested, number of shares				20,678	22,213	19,740
Option vested, weighted average fair value				$ 156.50	$ 151.32	$ 114.12
Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option outstanding				50,616
Stock-based compensation expense				$ 1,750	$ 36	$ 203
Chief Executive Officer \| January 1, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		5 years
Options granted in period		753,864
Stock option outstanding					150,773
Vesting percentage per year		20.00%
Stock price		$ 42.00
Exercise Price Per Share					$ 121.10
Options granted in period, weighted average fair value		8.41
Stock-based compensation expense				$ 200	$ 300
Chief Executive Officer \| January 1, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			5 years
Options granted in period			574,507
Stock option outstanding				0	574,507
Vesting percentage per year			20.00%
Stock price			$ 201.91
Option exercised, additional percentage			1.50%
Exercise Price Per Share					$ 272.45
Estimated forfeiture rate for equity awards that do not vest on January 1st				100.00%
Options granted in period, weighted average fair value			$ 39.16
President and Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period	9,959
Options granted in period - weighted average fair value	$ 100.50
Board of Directors \| Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option outstanding				10,341
Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period				5,080	10,188	14,040
Common Class A \| Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance				600,000
Shares available for grant				100,000
Maximum \| Chief Executive Officer \| January 1, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share		70
Maximum \| Chief Executive Officer \| January 1, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period, weighted average fair value of stock over exercise price			150
Maximum \| Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, contractual term				10 years
Minimum \| Chief Executive Officer \| January 1, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share		$ 37.65
Minimum \| Chief Executive Officer \| January 1, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise Price Per Share			$ 201.91
Employee Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period				27,490	5,185	786,450
Employee Stock Compensation Plan \| Service-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period						173,135
Employee Stock Compensation Plan \| Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period						38,808
Employee Stock Compensation Plan \| Investment Share Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				5 years
Payroll deduction period				11 months
Shares employees elected to purchase				9,214	10,146	9,199
Employee Stock Compensation Plan \| Chief Executive Officer \| Service-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period						574,507
Employee Stock Compensation Plan \| Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for issuance				6,700,000
Shares available for grant				1,200,000
Employee Stock Compensation Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				5 years
Stock options, contractual term				10 years
Employee Stock Compensation Plan \| Maximum \| Investment Share Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount from current market value				40.00%
Employee Stock Compensation Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				4 years
Employee Stock Compensation Plan \| Minimum \| Investment Share Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requirement tenure of employee for investment share program				1 year
Discount from current market value				0.00%
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options granted in period				83,561	15,800	21,653
Restricted Stock Awards \| Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Other than options granted in period	64,325
Weighted average fair value of stock awards	$ 229.30
Restricted Stock Awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				5 years
Restricted Stock Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years

Summary of Stock Options under Employee Equity Incentive Plan and Stock Option Plan for Non-Employee Directors (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 29, 2018 USD ($) $ / shares shares
Shares
Outstanding at beginning of period \| shares	1,156,997
Granted \| shares	32,570
Forfeited \| shares	(613,630)
Expired \| shares	(2,654)
Exercised \| shares	(206,454)
Outstanding at end of period \| shares	366,829
Exercisable at end of period \| shares	143,437
Vested and expected to vest at end of period \| shares	344,111
Weighted-Average Exercise Price
Outstanding at beginning of period \| $ / shares	$ 158.53
Granted \| $ / shares	210.24
Forfeited \| $ / shares	199.94
Expired \| $ / shares	289.54
Exercised \| $ / shares	106.79
Outstanding at end of period \| $ / shares	155.75
Exercisable at end of period \| $ / shares	112.90
Vested and expected to vest at end of period \| $ / shares	$ 153.42
Weighted-Average Remaining Contractual Term
Outstanding at end of period	5 years 6 months 7 days
Exercisable at end of period	3 years 6 months 11 days
Vested and expected to vest at end of period	5 years 5 months 8 days
Aggregate Intrinsic Value
Outstanding at end of period \| $	$ 30,588
Exercisable at end of period \| $	18,177
Vested and expected to vest at end of period \| $	$ 29,503

Stock-Based Compensation Expense Included in Operating Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 10,035	$ 6,316	$ 6,148
Share Based Compensation
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	10,035	6,316	6,148
Performance-Based Awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	1,750	36	203
Advertising, promotional and selling expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	3,243	2,868	2,507
General and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Stock-based compensation expense	$ 6,792	$ 3,448	$ 3,641

Weighted Average Assumptions used to Estimate Fair Value of Stock Options (Detail) - Times	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	34.00%	36.20%	34.00%
Risk-free interest rate	2.68%	2.30%	2.16%
Expected dividends	0.00%	0.00%	0.00%
Exercise factor	2.52	3.63	2.68
Discount for post-vesting restrictions	0.00%	0.00%	0.00%

Summary of Estimated Future Annual Stock-Based Compensation Expense (Detail) $ in Thousands	Dec. 29, 2018 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2019	$ 9,172
2020	7,856
2021	5,488
2022	3,033
2023	888
Thereafter	196
Total	$ 26,633

Summary of Vesting Activities for Investment Share Program and Restricted Stock Awards (Detail)	12 Months Ended
	Dec. 29, 2018 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-vested at beginning of period \| shares	62,405
Granted \| shares	92,775
Vested \| shares	(20,678)
Forfeited \| shares	(7,782)
Non-vested at end of period \| shares	126,720
Non-vested at beginning of period \| $ / shares	$ 155.21
Granted \| $ / shares	207.56
Vested \| $ / shares	156.50
Forfeited \| $ / shares	164.82
Non-vested at end of period \| $ / shares	$ 192.74

Stock Repurchases (Detail) - USD ($) $ in Thousands	12 Months Ended
Stock Repurchases (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Number of shares
Repurchased at beginning of period	13,447,346	12,483,556	11,538,680
Repurchases	349,691	963,790	944,876
Repurchased at end of period	13,797,037	13,447,346	12,483,556
Aggregate Purchase Price
Repurchased at beginning balance	$ 752,352	$ 607,750	$ 446,092
Repurchases	88,312	144,602	161,658
Repurchased at end of period	$ 840,664	$ 752,352	$ 607,750

Employee Retirement Plans and Post-Retirement Benefit Plan - Additional Information (Detail)	12 Months Ended
	Dec. 29, 2018 USD ($) CompensationPlan	Dec. 30, 2017 USD ($)	Dec. 31, 2016 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Unfunded projected pension benefits	$ 2,000,000	$ 2,200,000
Assumed average annual returns on assets	6.50%
Pension Benefit Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit obligation, discount rate	4.27%	3.68%
Debt Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Securities target allocation	35.00%
Debt Securities \| Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assumed average annual returns on assets	3.00%
Debt Securities \| Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assumed average annual returns on assets	6.00%
Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Securities target allocation	65.00%
Equity Securities \| Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assumed average annual returns on assets	8.00%
Equity Securities \| Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Assumed average annual returns on assets	12.00%
Non-Union Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans \| CompensationPlan	1
Non-Union Plans \| Boston Beer 401 (k) Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Eligibility timing	Eligible to participate in the Plan immediately upon employment.
Voluntary contributions of annual compensation	60.00%
Employer matching contribution percentage	6.00%
Pension contributions	$ 3,500,000	$ 3,200,000	$ 3,500,000
Non-Union Plans \| Boston Beer 401 (k) Plan \| Company's match for the first $1,000 of the eligible participants contribute
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer match percentage	100.00%
Contribution amount by the company	$ 1,000
Non-Union Plans \| Boston Beer 401 (k) Plan \| Company's match thereafter
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer match percentage	50.00%
Union Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Number of retirement plans \| CompensationPlan	2
Union Plans \| Company Sponsored Pension Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Eligibility timing	Open to all union employees who are covered by the Company's collective bargaining agreement with Teamsters Local Union No. 1199 ("Local Union 1199"), or persons on leave from the Company who are employed by Local Union 1199, and in either case who have completed 12 consecutive months of employment with at least 750 hours worked.
Pension contributions	$ 315,000	$ 238,000	$ 219,000
Eligibility period	12 months
Time required for eligibility	750 months
Union Plans \| Retiree Medical Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Eligibility period	20 years
Time required for eligibility	5 years
Benefit obligation, discount rate	4.27%	3.68%
Benefit obligation, rate of compensation increase	2.50%	2.50%	2.50%
Percentage paid for coverage		100.00%
Union Plans \| Retiree Medical Plan \| Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Voluntarily retirement age		57 years
Union Plans \| Retiree Medical Plan \| Local #20 member
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Time required for eligibility	7 years
Retiree Medical Plan, last years of employment	10 years
Voluntarily retirement age		65 years
Union Plans \| Retiree Medical Plan \| Local #20 member \| Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Eligibility period		20 years
Union Plans \| Samuel Adams Cincinnati Brewery 401 (k) Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Eligibility timing	All union employees upon commencement of employment or, if later, attaining age 21.
Voluntary contributions of annual compensation	60.00%

Funded Status of Local 1199 Pension Plan and Retiree Medical Plan (Detail) - USD ($) $ in Thousands	Dec. 29, 2018	Dec. 30, 2017
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	$ 3,322	$ 3,330
Benefit obligation at end of fiscal year	5,357	5,572
Unfunded Status	(2,035)	(2,242)
Retiree Medical Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit obligation at end of fiscal year	731	799
Unfunded Status	$ (731)	$ (799)

Local 1199 Plan's Weighted-Average Asset Allocations (Detail)	Dec. 29, 2018	Dec. 30, 2017
Asset Category
Defined Benefit Plan Weighted Average Asset Allocations	100.00%	100.00%
Equity Securities
Asset Category
Defined Benefit Plan Weighted Average Asset Allocations	61.00%	67.00%
Debt Securities
Asset Category
Defined Benefit Plan Weighted Average Asset Allocations	39.00%	33.00%

Computation of Earnings Per Share, Basic (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

^[1]

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

^[2]

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]

Net income

$ 21,811

$ 38,007

$ 23,535

$ 9,310

$ 30,530

$ 33,683

$ 29,125

$ 5,711

$ 92,663

$ 99,049

$ 87,349

Allocation of net income for basic:

Allocation of net income for basic common stock

92,663

99,049

87,349

Allocation of net income for basic unvested participating shares

$ 873

$ 544

$ 442

Weighted average number of shares for basic:

Weighted-average number of common shares — basic

11,733

12,102

12,597

Net income per share for basic:

Net income per common share — basic

$ 1.88

$ 3.25

$ 1.99

$ 0.79

$ 2.60

$ 2.82

$ 2.38

$ 0.46

$ 7.90

$ 8.18

$ 6.93

Common Class A

Allocation of net income for basic:

Allocation of net income for basic common stock

$ 68,080

$ 73,114

$ 63,717

Weighted average number of shares for basic:

Weighted-average number of common shares — basic

8,620

8,933

9,189

Net income per share for basic:

Net income per common share — basic

$ 7.90

$ 8.18

$ 6.93

Common Class B

Allocation of net income for basic:

Allocation of net income for basic common stock

$ 23,710

$ 25,391

$ 23,190

Weighted average number of shares for basic:

Weighted-average number of common shares — basic

3,002

3,102

3,344

Net income per share for basic:

Net income per common share — basic

$ 7.90

$ 8.18

$ 6.93

Unvested participating shares

Weighted average number of shares for basic:

Weighted-average number of common shares — basic

111

[1]	During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.
[2]	During the fourth quarter of 2017, the Company recorded a $20.3 million tax benefit due to the Tax Cuts and Jobs Act of 2017.

Computation of Earnings Per Share, Basic (Parenthetical) (Detail) - shares	Nov. 01, 2018	Oct. 31, 2017	Mar. 07, 2017
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion of Class B Common Stock into Class A Common Stock	100,000	79,000	100,000

Computation of Diluted Net Income Per Share (Detail) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

^[1]

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

^[2]

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]

Allocation of net income for basic common stock

$ 92,663

$ 99,049

$ 87,349

Add: effect of dilutive potential common shares Share-based awards

112

145

263

Earnings to Common Shareholders, Net effect of unvested participating shares

$ 8

$ 7

$ 9

Earnings to Common Shareholders, Net income per common share — diluted

$ 91,798

$ 98,512

$ 86,916

Weighted-average number of common shares — basic

11,733

12,102

12,597

Weighted-average number of common shares — diluted

11,734

12,180

12,796

Net income per common share — basic

$ 1.88

$ 3.25

$ 1.99

$ 0.79

$ 2.60

$ 2.82

$ 2.38

$ 0.46

$ 7.90

$ 8.18

$ 6.93

Net income per common share — diluted

$ 1.86

$ 3.21

$ 1.98

$ 0.78

$ 2.57

$ 2.78

$ 2.35

$ 0.45

$ 7.82

$ 8.09

$ 6.79

Common Class A

Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]

Allocation of net income for basic common stock

$ 68,080

$ 73,114

$ 63,717

Weighted-average number of common shares — basic

8,620

8,933

9,189

Net income per common share — basic

$ 7.90

$ 8.18

$ 6.93

Common Class B

Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]

Allocation of net income for basic common stock

$ 23,710

$ 25,391

$ 23,190

Class B Common Stock

3,002

3,102

3,344

Earnings to Common Shareholders, Class B Common Stock

$ 23,710

$ 25,391

$ 23,190

Weighted-average number of common shares — basic

3,002

3,102

3,344

Net income per common share — basic

$ 7.90

$ 8.18

$ 6.93

[1]	During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.
[2]	During the fourth quarter of 2017, the Company recorded a $20.3 million tax benefit due to the Tax Cuts and Jobs Act of 2017.

Net Income per Share - Additional Information (Detail)

3 Months Ended

12 Months Ended

Dec. 29, 2018

Customer

$ / shares

Sep. 29, 2018

$ / shares

^[1]

Jun. 30, 2018

$ / shares

Mar. 31, 2018

$ / shares

Dec. 30, 2017

$ / shares

^[2]

Sep. 30, 2017

$ / shares

Jul. 01, 2017

$ / shares

Apr. 01, 2017

$ / shares

Dec. 29, 2018

Customer

$ / shares

Dec. 30, 2017

$ / shares

Dec. 31, 2016

$ / shares

Earnings Per Share Note [Line Items]

Net income per common share — basic | $ / shares

$ 1.88

$ 3.25

$ 1.99

$ 0.79

$ 2.60

$ 2.82

$ 2.38

$ 0.46

$ 7.90

$ 8.18

$ 6.93

Conversion ratio for Class B to Class A shares | Customer

Stock options cancelled during the period

613,630

Common Class A

Earnings Per Share Note [Line Items]

Net income per common share — basic | $ / shares

$ 7.90

$ 8.18

$ 6.93

Antidilutive securities excluded from computation of earnings per share

100,000

785,000

712,000

Common Class A | Performance-Based Awards

Earnings Per Share Note [Line Items]

Number of shares not included because the performance criteria was not expected to be met

10,000

36,000

35,000

Stock options cancelled during the period

6,000

[1]	During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.
[2]	During the fourth quarter of 2017, the Company recorded a $20.3 million tax benefit due to the Tax Cuts and Jobs Act of 2017.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Name Accounting Standards Codification
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+ Details

Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ 423,523	$ 446,582	$ 461,221
Deferred pension and other post-retirement benefit costs	191	(170)	122
Amortization of Deferred benefit costs	86	(32)	(175)
One time effect of adoption of ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income	(211)
Currency translation adjustment	25	17	(99)
Balance	460,317	423,523	446,582
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(1,288)	(1,103)	(951)
Currency translation adjustment	25	17	(99)
Balance	$ (1,197)	$ (1,288)	$ (1,103)

Changes in Accumulated Other Comprehensive Loss (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Deferred pension and other post-retirement benefit costs, taxes	$ 64	$ 57	$ 69
Amortization of Deferred benefit costs, tax	$ 29	$ 11	$ 101

Summary of Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	$ 3,000
Balance at End of Period	2,100	$ 3,000
Allowance for Doubtful Accounts
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period			$ 244
Net Provision (Recovery)	2		(244)
Balance at End of Period	2
Discount Accrual
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	3,072	3,078	2,813
Net Provision (Recovery)	36,213	30,171	33,157
Amounts Charged Against Reserves	(34,649)	(30,177)	(32,892)
Balance at End of Period	4,636	3,072	3,078
Inventory Obsolescence Reserve
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	1,826	2,262	1,525
Net Provision (Recovery)	4,175	5,751	4,707
Amounts Charged Against Reserves	(3,421)	(6,187)	(3,970)
Balance at End of Period	2,580	1,826	2,262
Stale Beer Reserve
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Period	3,023	5,226	3,254
Net Provision (Recovery)	2,691	5,449	10,466
Amounts Charged Against Reserves	(3,568)	(7,652)	(8,494)
Balance at End of Period	$ 2,146	$ 3,023	$ 5,226

Valuation and Qualifying Accounts Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 29, 2018 USD ($)
cumulative effect adjustment to retained earnings and the current year adjustment to deferred revenue	$ 1.7

Quarterly Results (Detail) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Dec. 29, 2018

Sep. 29, 2018

^[1]

Jun. 30, 2018

Mar. 31, 2018

Dec. 30, 2017

^[2]

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 29, 2018

Dec. 30, 2017

Dec. 31, 2016

Quarterly Financial Information [Line Items]

Net revenue

$ 225,222

$ 306,870

$ 273,100

$ 190,457

$ 206,320

$ 247,047

$ 247,930

$ 161,695

$ 1,057,495

$ 921,736

$ 968,994

Gross profit

116,949

157,227

141,970

96,097

108,037

131,501

134,019

76,344

512,243

449,901

459,670

Operating income

28,851

46,728

31,064

9,238

14,863

51,496

45,288

4,028

115,881

115,675

137,659

Net income

$ 21,811

$ 38,007

$ 23,535

$ 9,310

$ 30,530

$ 33,683

$ 29,125

$ 5,711

$ 92,663

$ 99,049

$ 87,349

Net income per share — basic

$ 1.88

$ 3.25

$ 1.99

$ 0.79

$ 2.60

$ 2.82

$ 2.38

$ 0.46

$ 7.90

$ 8.18

$ 6.93

Net income per share — diluted

$ 1.86

$ 3.21

$ 1.98

$ 0.78

$ 2.57

$ 2.78

$ 2.35

$ 0.45

$ 7.82

$ 8.09

$ 6.79

[1]	During the third quarter of 2018, the Company recorded a $4.5 million tax benefit related to tax accounting method changes.
[2]	During the fourth quarter of 2017, the Company recorded a $20.3 million tax benefit due to the Tax Cuts and Jobs Act of 2017.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Quarterly Results (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Sep. 29, 2018	Dec. 30, 2017	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Quarterly Financial Information [Line Items]
Deferred income taxes	$ 4,500	$ 20,300	$ 14,350	$ (22,442)	$ 8,243