How Subscription Boxes Are Bringing Local Brews to the National Stage

exactly ones of those transient variations are likely to be resolved or recovered? Income in the period including the enactment date shows the effect on deferred taxes of a change in tax rates When it is decided that the positions are "more likely-than-not" to be sustained by the taxation authority, we acknowledge the advantages of tax return positions. Tax expense in the

period incurred records interest and penalties accumulated on unrecognized tax benefits. At December 31, 2014 and 2013, we did not have any interest or penalties incurred on any unrecognized tax benefits Particle Information Monitoring net sales and gross margins of our Beer Related operations as well as our pub operations is our main operating decision maker.

Brewing activities as well as related domestic and international beer and cider sales for our Kona, Widmer Brothers, Redhook and Omission beer brands and Square Mile cider brand are part of Beer Related operations. Our pubs, some of which are next to our Beer Related operations, comprise most of Pubs operations. We only track segmentally based on our

Assets or the gross margin level

not operating performance beyond either Per Share Earning The weighted average number of outstanding shares over the period guides computation of basic earnings per share. Common share equivalents computed under the Treasury stock approach have a diluting effect included in diluted earnings per share. When the underlying performance criteria have been

satisfied, basic and diluted earnings per share include performance-based restricted stock grants. Applications of Estimate The preparation of financial statements in line with accounting principles generally accepted in the United States of America demands management to make estimations and assumptions that influence 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 revenues and expenses during the reporting period. Our estimations are based on past experience as well as on other presumptions thought appropriate given the conditions at the time. Under other presumptions or conditions,

Actual results could vary from those

approximates Recent Pronouncements in Accounting The Financial Accounting Standards Board ("FASB") published Accounting Standards Update "Income Statement - Extraordinary and Unusual Items (S2015-1 to have a meaningful effect on our financial status, results of operations or cash flows. released in November 2014 This ASU gives an acquired firm an

opportunity to adopt pushdown accounting in its separate financial statements following occurrence of an event in which an acquirerWhile the leases for the other facilities, land and equipment end in 2017 with an extension at our discretion for two five-year periods, the lease

for the headquarters office space and restaurant facility expires in 2034. Based on a legally agreed valuation process, we have a right to buy the headquarters office space and restaurant facility at the fair market value of the property that is, at least $2.0 million. As relevant, the right to purchase is void in the last year of the lease term or in each of the last

Years of the renewal periods

Every leasing term is regarded as arm's-length business We have leases and sub leases.Every now and then we pledge ourselves to buy specific raw materials in line with business operations. We have also signed purchase agreements and commodities contracts to guarantee we have enough malt and hops to satisfy future manufacturing needs.

Some of the malt and hop obligations are for crop years starting 2019. If so, we believe malt and hop commitments exceeding future needs would not significantly affect our financial situation or operational performance. The goods may be delivered in more than our needs or financial outlays in any one year may either exceed or be less than the specified commitment

amount. We have occasionally signed agreements with specific suppliers to meet our specifications for spe8 and excluded from the chart below With certain professional sports teams and entertainment firms, we have signed multi-yea sponsorships and advertising agreements. Usually, in return for our sponsorship, we put signs and supply other advertising

Conclusion

materials at the site or the event. Through Mayligations for some office space and the land under the brewery and pub location in Kona, Hawaii, the terms of these sponsorship commitments expire at different dates under a company whose owners include a shareholder owning more than 5% of our common stock and a nonexecutive officer. Under all operating leases abov, the sublease contracts, in thousands, which are included in the rent expense

under varied dater were under vary. An acquired entity could choose to implement pushdown accounting in the reporting period after the occurrence of change-in-control. An individual change-in- control event handled via pushdown accounting results in an irrevocable election. November performed well. We do not expect the acceptance of to have a significant impact on our financial situation, operational results or cash flows. Monitoring net sales and gross