Molson Coors
40 named things its latest annual report says its results depend on, each in the company's own words. 14 of them are also named by other companies we've read.
Customers
U.S. independent beer distributors
earns fromnamed as a riskWe sell nearly all of our products, including our imported products, in the U.S. to independent distributors for resale to retail outlets.Risk factors (Item 1A)
Suppliers
Ball Corporation (Rocky Mountain Metal Container)
depends onnamed as a riskIn the Americas segment, a portion of our aluminum cans and ends are purchased from Rocky Mountain Metal Container ("RMMC"), our joint venture with Ball Corporation, whose production facilities, which are leased from us, are located near our brewery in Golden, Colorado.Business (Item 1)
Also named by CCK
Owens-Brockway Glass Container (Rocky Mountain Bottle Company)
depends onnamed as a riskIn the Americas segment, a portion of our glass bottles are purchased from Rocky Mountain Bottle Company ("RMBC"), our joint venture with Owens-Brockway Glass Container, Inc., whose production facilities, which are leased from us, are located in Wheat Ridge, Colorado.Business (Item 1)
Packaging materials suppliers (aluminum cans, glass, paperboard, carbon dioxide)
depends onnamed as a riskWe purchase certain types of input and other packaging materials, including aluminum cans and bottles, glass bottles, paperboard and carbon dioxide from a small number of suppliers.Risk factors (Item 1A)
DHL Supply Chain
depends onnamed as a riskTo facilitate this, we have agreements with DHL Supply Chain Limited to provide the distribution of our products throughout the U.K.Business (Item 1)
Partners and platforms
Factored brands (U.K.)
earns from · Approximately 20% of our EMEA&APAC segment net salesnamed as a riskApproximately 20% of our EMEA&APAC segment net sales in 2025 represented factored brands.Business (Item 1)
Heineken
depends onnamed as a riskWe manufacture and distribute products of other beverage companies through various joint ventures, licensing, distribution, contract brewing or other similar arrangements, such as our agreement to produce, import, market, distribute and sell certain Heineken brands in Canada, and our arrangements with ABI to brew and distribute Beck's, Stella Artois, and Lowenbrau and to distribute Hoegaarden, Leffe, and Corona in Central Europe.Risk factors (Item 1A)
Also named by CCK
Red Tree Beverages (Simply Spiked, Topo Chico Hard Seltzer)
depends onnamed as a riskWe also have authorizations from Red Tree Beverages, LLC that grant us the right to produce, market, advertise, promote, sell and distribute products bearing the Simply Spiked trademark in the U.S. and Canada, as well as the Topo Chico Hard Seltzer trademark in the U.S.Risk factors (Item 1A)
Fevertree Drinks
depends onnamed as a riskIn addition, we have a license agreement to produce, market, distribute and sell Fever-Tree products in the U.S.Risk factors (Item 1A)
Brewers Retail Inc. (The Beer Store)
depends onnamed as a riskIf TBS cannot transition quickly from a retail-led organization to a distribution-led organization, it may adversely impact our business, our results of operations and financial condition.Risk factors (Item 1A)
Brewers' Distributor Ltd. (BDL)
depends onnamed as a riskBDL facilitates the distribution of our products in the western Canadian provinces.Risk factors (Item 1A)
The Yuengling Company
earns fromWe have also entered into a joint venture with The Yuengling Company LLC to expand the distribution of Yuengling beer in the western U.S.Risk factors (Item 1A)
Other companies
Canadian dollar
exposed to its price · $1.2 billionnamed as a riskAs a result, fluctuations in foreign currency exchange rates, particularly the CAD and the GBP, may have a material impact on our reported results.Market risk (Item 7A)
Also named by ABBV, ADBE, AMG, AYI, BBY, BWXT, CBRE, CDRE and 67 more
British pound
exposed to its price · $1.5 billionnamed as a riskFor the year ended December 31, 2025, net sales denominated in GBP and CAD approximated $1.5 billion and $1.2 billion, for each respective currency.Market risk (Item 7A)
Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more
Coors Light and Miller Lite
concentrated in · approximately 55% of segment net salesnamed as a riskOur Coors Light and Miller Lite brands in the Americas represented approximately 55% of segment net sales in 2025 while, Carling, Staropramen, Coors, Madrí Excepcional, Ožujsko, and Bergenbier brands in EMEA&APAC represented approximately 45% of segment net sales in 2025, with several of our other brands representing a significant share of their respective markets.Risk factors (Item 1A)
FEMSA (Kaiser indemnities)
named as a riskThe terms of the sale agreement require us to indemnify FEMSA for exposures related to certain tax, civil and labor contingencies and certain purchased tax credits.Risk factors (Item 1A)
Competitors
Anheuser-Busch InBev (ABI)
competes withIn the U.S. and Canada, we compete most directly with Anheuser-Busch InBev SA/NV ("ABI") and Constellation Brands, Inc., but we also compete with imports and other providers of craft beer and flavored malt beverages.Business (Item 1)
Constellation Brands
competes withIn the U.S. and Canada, we compete most directly with Anheuser-Busch InBev SA/NV ("ABI") and Constellation Brands, Inc., but we also compete with imports and other providers of craft beer and flavored malt beverages.Business (Item 1)
Places
United States
concentrated in · approximately 78% of our total 2025 net salesnamed as a riskFor example, net sales in our Americas segment accounted for approximately 78% of our total 2025 net sales.Risk factors (Item 1A)
Also named by ABBV, ADP, AJG, AMGN, APA, AXGN, AXP, BALL and 139 more
United Kingdom
concentrated in · over 55% of the segment's net salesThe majority of our EMEA&APAC segment sales are in the U.K., Croatia, Romania and the Czech Republic, with the U.K. representing over 55% of the segment's net sales in 2025.Business (Item 1)
Also named by AGX, AJG, AMP, BAC, BF/B, BGC, BRO, C and 59 more
Ontario
operates innamed as a riskThis ongoing evolution of the Ontario beer market may have a significant impact on the financial results of our ownership in Brewers Retail, Inc. and adversely affect our financial results.Risk factors (Item 1A)
Golden, Colorado brewery
operates innamed as a riskFor example, we have a major brewery in the state of Colorado, which experienced several significant wildfires in 2022, and we have another major brewery in Texas, which experienced a severe winter weather event in 2021.Risk factors (Item 1A)
Hazards
Water scarcity in Colorado and Texas
operates innamed as a riskWe have substantial brewery operations in the states of Colorado and Texas, which have been areas vulnerable to water scarcity conditions.Risk factors (Item 1A)
Commodities and inputs
Midwest Premium (aluminum)
exposed to its price · approximate $35 million unfavorable impactnamed as a riskFor example, in 2025, the Midwest Premium increased, which resulted in an approximate $35 million unfavorable impact on our results for the year ended December 31, 2025.Risk factors (Item 1A)
Aluminum
exposed to its pricenamed as a riskFor example, the U.S. tariffs on aluminum imports imposed in June 2018 (and partially lifted in May 2019) created volatility in the price of aluminum in the U.S. and increased the price of aluminum used in some of our product packaging.Risk factors (Item 1A)
Also named by AAON, ACHR, ALSN, AYI, BA, BALL, BF/B, BWA and 59 more
Natural gas
exposed to its pricenamed as a riskWe specifically hedge our exposure to fluctuations in the price of natural gas, barley, diesel and aluminum, including surcharges relating to our aluminum exposures.Market risk (Item 7A)
Also named by AA, ADM, AEE, AEP, AES, AESI, AGX, ALB and 132 more
Carbon dioxide
depends onnamed as a riskIn addition, we also purchase and use a significant amount of diesel fuel, natural gas, electricity and carbon dioxide in our operations.Risk factors (Item 1A)
Also named by LIN
Barley
exposed to its pricenamed as a riskBarley is purchased primarily under annual contracts with independent farmers located predominately in the western U.S. and Canadian Prairies.Business (Item 1)
Hops
depends onnamed as a riskIn Europe, hops are primarily sourced from Germany, the U.K., Czech Republic and Slovenia.Business (Item 1)
Regulators
Alcohol and Tobacco Tax and Trade Bureau
subject toTo operate our facilities, we must obtain and maintain numerous permits, licenses and approvals from various governmental agencies, including the U.S. Department of Treasury, Alcohol and Tobacco Tax and Trade Bureau, the U.S. Department of Agriculture, the U.S. Food and Drug Administration, state alcohol regulatory agencies and state and federal environmental agencies.Business (Item 1)
Laws and programs
Ontario Early Implementation Agreement
subject to · 225 million CADnamed as a riskSuch impacts of the EIA could have a negative impact on the results of operations, cash flows and financial position of our Americas segment.Risk factors (Item 1A)
U.S. federal excise tax on beer
subject to · approximately $15 per hectoliternamed as a riskIn 2025, our U.S. excise taxes totaled approximately $15 per hectoliter sold on a reported basis.Business (Item 1)
Canadian excise tax on beer
subject to · approximately $56 per hectoliternamed as a riskIn 2025, our Canadian excise taxes totaled approximately $56 per hectoliter sold on a reported basis.Business (Item 1)
EMEA&APAC excise taxes
subject to · approximately $45 per hectoliternamed as a riskIn 2025, the excise taxes for our EMEA&APAC segment were approximately $45 per hectoliter on a reported basis.Business (Item 1)
EU-UK Trade and Cooperation Agreement
subject tonamed as a riskThe TCA, effective May 2021, also resulted in disruptions and transportation delays that affected our sourcing of raw materials and packaging for our products, as well as our ability to import and export products.Risk factors (Item 1A)
U.S. tariffs on aluminum
subject tonamed as a riskOngoing or additional U.S. tariffs, including on aluminum, retaliatory tariffs or related actions from trade partners, and related uncertainty may continue to increase the cost of certain of our imported materials and, adversely affect our profitability.Risk factors (Item 1A)
U.S. three-tier distribution system
subject tonamed as a riskTo the extent that such challenges are successful and change the three-tier system, including through the expansion of e-commerce and direct-to-consumer offerings, such changes could have a material adverse effect on our Americas segment results of operations.Risk factors (Item 1A)
Extended Producer Responsibility and deposit return system legislation
subject tonamed as a riskThe requirements of Extended Producer Responsibility ("EPR") and deposit return system ("DRS") legislation and regulations vary by jurisdiction, and such legislation, as well as voluntary initiatives aimed at reducing packaging waste, could reduce demand for our products, increase our compliance and other costs or otherwise adversely impact our business, financial condition and results of operations.Risk factors (Item 1A)
Alcohol health warning labeling requirements
subject tonamed as a riskIn January 2025, the United States' outgoing Surgeon General issued an advisory recommending an update to the Surgeon General's warning label in the United States for alcohol-containing beverages to include a cancer risk warning.Risk factors (Item 1A)
Technology
GLP-1 agonists
named as a riskFurthermore, the broader alcohol industry is also experiencing a shift in consumer drinking preferences and behaviors due to, among others, downturns in economic conditions or perceived value, changing demographics and taste preferences, such as the expansion in above premium products, specifically flavored malt beverages, RTDs, spirit-based beverages, cider and other similar beverages, as well as a shift toward non-alcoholic beverages, health and wellness trends (including the use of glucagon-like peptide (GLP-1) agonists), as well as changes in consumers' perception of our brands and the brands of our competitors.Risk factors (Item 1A)