$SAM
BOSTON BEER CO INC

2016 Q2 Form 10-Q Financial Statement

#000119312517238577 Filed on July 27, 2017

View on sec.gov

Income Statement

Concept 2016 Q2
Revenue $244.8M
YoY Change -2.93%
Cost Of Revenue $117.9M
YoY Change 1.69%
Gross Profit $126.9M
YoY Change -6.86%
Gross Profit Margin 51.83%
Selling, General & Admin $85.05M
YoY Change -4.87%
% of Gross Profit 67.03%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.50M
YoY Change 22.55%
% of Gross Profit 9.85%
Operating Expenses $85.09M
YoY Change -4.83%
Operating Profit $41.79M
YoY Change -10.75%
Interest Expense $20.00K
YoY Change 81.82%
% of Operating Profit 0.05%
Other Income/Expense, Net -$186.0K
YoY Change -386.15%
Pretax Income $41.60M
YoY Change -11.27%
Income Tax $14.98M
% Of Pretax Income 36.01%
Net Earnings $26.62M
YoY Change -11.06%
Net Earnings / Revenue 10.87%
Basic Earnings Per Share $2.11
Diluted Earnings Per Share $2.06
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding 12.83M shares

Balance Sheet

Concept 2016 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.60M
YoY Change -81.22%
Cash & Equivalents $27.58M
Short-Term Investments
Other Short-Term Assets $19.30M
YoY Change -8.53%
Inventory $61.25M
Prepaid Expenses
Receivables $56.69M
Other Receivables $3.500M
Total Short-Term Assets $168.3M
YoY Change -40.15%
LONG-TERM ASSETS
Property, Plant & Equipment $411.9M
YoY Change 3.52%
Goodwill $3.683M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.704M
YoY Change -31.02%
Total Long-Term Assets $422.3M
YoY Change 2.67%
TOTAL ASSETS
Total Short-Term Assets $168.3M
Total Long-Term Assets $422.3M
Total Assets $590.6M
YoY Change -14.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $41.59M
YoY Change -9.6%
Accrued Expenses $69.50M
YoY Change -4.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $100.0K
YoY Change
Total Short-Term Liabilities $111.1M
YoY Change -6.11%
LONG-TERM LIABILITIES
Long-Term Debt $400.0K
YoY Change -20.0%
Other Long-Term Liabilities $9.476M
YoY Change 21.33%
Total Long-Term Liabilities $9.476M
YoY Change 21.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.1M
Total Long-Term Liabilities $9.476M
Total Liabilities $178.3M
YoY Change 0.29%
SHAREHOLDERS EQUITY
Retained Earnings $80.93M
YoY Change -65.28%
Common Stock $332.2M
YoY Change 17.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $412.2M
YoY Change
Total Liabilities & Shareholders Equity $590.6M
YoY Change -14.72%

Cashflow Statement

Concept 2016 Q2
OPERATING ACTIVITIES
Net Income $26.62M
YoY Change -11.06%
Depreciation, Depletion And Amortization $12.50M
YoY Change 22.55%
Cash From Operating Activities $42.00M
YoY Change -26.57%
INVESTING ACTIVITIES
Capital Expenditures -$13.00M
YoY Change -35.64%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$12.90M
YoY Change -36.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -52.60M
YoY Change 334.71%
NET CHANGE
Cash From Operating Activities 42.00M
Cash From Investing Activities -12.90M
Cash From Financing Activities -52.60M
Net Change In Cash -23.50M
YoY Change -194.38%
FREE CASH FLOW
Cash From Operating Activities $42.00M
Capital Expenditures -$13.00M
Free Cash Flow $55.00M
YoY Change -28.94%

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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6549000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
15001000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
34826000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-10000
us-gaap Income Taxes Paid
IncomeTaxesPaid
4812000
us-gaap Gross Profit
GrossProfit
210363000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
57000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
227000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34836000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
34643000
us-gaap Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
5000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2605000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
49543000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
25000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25616000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14707000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
6227000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8580000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-16710000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
16000
us-gaap Share Based Compensation
ShareBasedCompensation
3413000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
1505000
us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
18437000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
2000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
121585000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
37957000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-254000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
-63716000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-195000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-19384000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
199262000
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
27476000
us-gaap Operating Expenses
OperatingExpenses
161047000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
14062000
sam Decrease Increase In Accounts Payable For Purchase Of Property Plant And Equipment
DecreaseIncreaseInAccountsPayableForPurchaseOfPropertyPlantAndEquipment
-3550000
sam Weighted Average Number Of Basic Shares Outstanding Equity Instruments Other Than Option Nonvested
WeightedAverageNumberOfBasicSharesOutstandingEquityInstrumentsOtherThanOptionNonvested
69000 shares
sam Loss On Sale Of Property Plant Equipment
LossOnSaleOfPropertyPlantEquipment
22000
sam Weighted Average Number Of Shares Outstanding Basic Including Nonvested Participating Securities
WeightedAverageNumberOfSharesOutstandingBasicIncludingNonvestedParticipatingSecurities
12364000 shares
sam Income Allocated To Equity Instruments Other Than Option Nonvested
IncomeAllocatedToEquityInstrumentsOtherThanOptionNonvested
2000
sam Provision For Recovery Of Doubtful Accounts
ProvisionForRecoveryOfDoubtfulAccounts
17000
sam Net Proceeds From Sale Of Investment Shares
NetProceedsFromSaleOfInvestmentShares
462000
CY2016Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.06
CY2016Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12830000 shares
CY2016Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.11
CY2016Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
282000 shares
CY2016Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.360 pure
CY2016Q2 us-gaap Revenues
Revenues
244816000
CY2016Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
20000
CY2016Q2 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
0
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
261225000
CY2016Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
41788000
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
26621000
CY2016Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
26533000
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-88000
CY2016Q2 us-gaap Gross Profit
GrossProfit
126876000
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-206000
CY2016Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-186000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26621000
CY2016Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
26485000
CY2016Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
41602000
CY2016Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14981000
CY2016Q2 us-gaap Share Based Compensation
ShareBasedCompensation
3100000
CY2016Q2 us-gaap Asset Impairment Charges
AssetImpairmentCharges
37000
CY2016Q2 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
14981000
CY2016Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
63252000
CY2016Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21799000
CY2016Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-139000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
117940000
CY2016Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
16409000
CY2016Q2 us-gaap Operating Expenses
OperatingExpenses
85088000
CY2016Q2 sam Weighted Average Number Of Basic Shares Outstanding Equity Instruments Other Than Option Nonvested
WeightedAverageNumberOfBasicSharesOutstandingEquityInstrumentsOtherThanOptionNonvested
66000 shares
CY2016Q2 sam Weighted Average Number Of Shares Outstanding Basic Including Nonvested Participating Securities
WeightedAverageNumberOfSharesOutstandingBasicIncludingNonvestedParticipatingSecurities
12614000 shares
CY2016Q2 sam Income Allocated To Equity Instruments Other Than Option Nonvested
IncomeAllocatedToEquityInstrumentsOtherThanOptionNonvested
3000
CY2017Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.35
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
12344000 shares
CY2017Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.38
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
155000 shares
CY2017Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.360 pure
CY2017Q3 us-gaap Revenues
Revenues
247930000
CY2017Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
86000
CY2017Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
168000
CY2017Q3 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
264664000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
45288000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
29125000
CY2017Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
29115000
CY2017Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-10000
CY2017Q3 us-gaap Gross Profit
GrossProfit
134019000
CY2017Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
129000
CY2017Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
215000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
29125000
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
28965000
CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
45503000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
16378000
CY2017Q3 us-gaap Share Based Compensation
ShareBasedCompensation
1800000
CY2017Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
1505000
CY2017Q3 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
16546000
CY2017Q3 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
67831000
CY2017Q3 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19395000
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
-162000
CY2017Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
113911000
CY2017Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
16734000
CY2017Q3 us-gaap Operating Expenses
OperatingExpenses
88731000
CY2017Q3 sam Weighted Average Number Of Basic Shares Outstanding Equity Instruments Other Than Option Nonvested
WeightedAverageNumberOfBasicSharesOutstandingEquityInstrumentsOtherThanOptionNonvested
68000 shares
CY2017Q3 sam Weighted Average Number Of Shares Outstanding Basic Including Nonvested Participating Securities
WeightedAverageNumberOfSharesOutstandingBasicIncludingNonvestedParticipatingSecurities
12257000 shares
CY2017Q3 sam Income Allocated To Equity Instruments Other Than Option Nonvested
IncomeAllocatedToEquityInstrumentsOtherThanOptionNonvested
2000

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