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Other Liabilities (Tables)
9 Months Ended
Sep. 30, 2018
Payables And Accruals [Abstract]  
Summary of Other Liabilities

Other liabilities consisted of the following:

 

(in thousands)

 

September 30, 2018

 

 

December 31, 2017

 

Non-current portion of acquisition related contingent consideration

 

$

338,530

 

 

$

357,952

 

Accruals for executive benefit plans

 

 

128,079

 

 

 

125,791

 

Non-current deferred proceeds from Territory Conversion Fee

 

 

85,734

 

 

 

87,449

 

Non-current deferred proceeds from Legacy Facilities Credit(1)

 

 

30,568

 

 

 

29,881

 

Other

 

 

17,399

 

 

 

19,506

 

Total other liabilities

 

$

600,310

 

 

$

620,579

 

 

(1)

In December 2017, The Coca‑Cola Company agreed to provide the Company a one-time fee, which, after final adjustments made during the third quarter of 2018, totaled $44.3 million (the “Legacy Facilities Credit”). The Legacy Facilities Credit compensated the Company for the net economic impact of changes made by The Coca‑Cola Company to the authorized pricing on sales of covered beverages produced at the manufacturing facilities owned by Company prior to the System Transformation and sold to The Coca‑Cola Company and certain U.S. Coca‑Cola bottlers pursuant to new pricing mechanisms included in the regional manufacturing agreement entered into by the Company and The Coca‑Cola Company on March 31, 2017, as amended. The Company immediately recognized the portion of the Legacy Facilities Credit applicable to a regional manufacturing facility in Mobile, Alabama which the Company transferred to CCR as part of the CCR Exchange Transaction. The remaining balance of the Legacy Facilities Credit will be amortized as a reduction to cost of sales over a period of 40 years.