BOSTON BEER CO INC Segments Disclosure
T. Segment Reporting
Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision making group, in deciding how to allocate resources in assessing performance. The Company has one operating segment and one reportable segment that produces and sells alcohol beverages under various brands. All brands are predominantly beverages that are manufactured using similar production processes, have comparable alcohol content, generally fall under the same regulatory environment, and are sold to the same types of customers in similar size quantities at similar price points, with similar profit margins, and through the same channels of distribution. .
The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the segment based on net income, which is reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets.
The table below summarizes the Company’s measures of segment net income that the CODM considered in determining how to allocate resources and assess segment performance for the years ended December 27, 2025, December 28, 2024, and December 30, 2023:
|
|
Year Ended |
|
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|
|
December 27, |
|
|
December 28, |
|
|
December 30, |
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|
|
|
|
|
|
|
|
|
|
|||
Net revenue |
|
$ |
1,964,994 |
|
|
$ |
2,012,926 |
|
|
$ |
2,008,625 |
|
Less: |
|
|
|
|
|
|
|
|
|
|||
Cost of goods sold |
|
|
1,012,414 |
|
|
|
1,119,194 |
|
|
|
1,156,256 |
|
Salaries and benefits expenses |
|
|
261,910 |
|
|
|
254,589 |
|
|
|
238,363 |
|
Advertising, promotional, and selling expenses (excluding salaries and benefits) |
|
|
455,833 |
|
|
|
402,221 |
|
|
|
410,710 |
|
General and administrative expenses (excluding salaries and benefits) |
|
|
83,000 |
|
|
|
85,129 |
|
|
|
81,473 |
|
Impairment of intangible assets |
|
|
— |
|
|
|
42,584 |
|
|
|
16,426 |
|
Impairment of brewery assets |
|
|
6,955 |
|
|
|
7,184 |
|
|
|
5,396 |
|
Contract settlement costs |
|
|
— |
|
|
|
26,052 |
|
|
|
— |
|
Interest income, net |
|
|
(9,939 |
) |
|
|
(13,249 |
) |
|
|
(10,995 |
) |
Other expense, net |
|
|
1,361 |
|
|
|
1,620 |
|
|
|
1,408 |
|
Income tax provision |
|
|
44,991 |
|
|
|
27,907 |
|
|
|
33,338 |
|
Segment net income |
|
$ |
108,469 |
|
|
$ |
59,695 |
|
|
$ |
76,250 |
|
|
|
|
|
|
|
|
|
|
|
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 24, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.