Monster Beverage (MNST) 10-Q5 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2023	Apr. 28, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Transition Report	false
Entity File Number	001-18761
Entity Registrant Name	MONSTER BEVERAGE CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1809393
Entity Address, Address Line One	1 Monster Way
Entity Address, City or Town	Corona
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92879
City Area Code	951
Local Phone Number	739 - 6200
Title of 12(b) Security	Common Stock
Trading Symbol	MNST
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,046,711,932
Entity Central Index Key	0000865752
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents		$ 1,672,660	$ 1,307,141
Short-term investments		1,383,028	1,362,314
Accounts receivable, net		1,190,351	1,016,203
Inventories		906,723	935,631
Prepaid expenses and other current assets		110,958	109,823
Prepaid income taxes		30,889	33,785
Total current assets		5,294,609	4,764,897
INVESTMENTS		41,152	61,443
PROPERTY AND EQUIPMENT, net		545,922	516,897
DEFERRED INCOME TAXES, net		177,039	177,039
GOODWILL		1,417,941	1,417,941
OTHER INTANGIBLE ASSETS, net		1,222,598	1,220,410
OTHER ASSETS		145,101	134,478
Total Assets		8,844,362	8,293,105
CURRENT LIABILITIES:
Accounts payable		491,249	444,265
Accrued liabilities		245,932	172,991
Accrued promotional allowances		308,094	255,631
Deferred revenue		44,440	43,311
Accrued compensation		42,673	72,463
Income taxes payable		55,123	13,317
Total current liabilities		1,187,511	1,001,978
DEFERRED REVENUE		219,764	223,800
OTHER LIABILITIES		41,727	42,286
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock - $0.005 par value; 1,250,000 shares authorized; 1,117,392 shares issued and 1,046,616 shares outstanding as of March 31, 2023; 1,283,688 shares issued and 1,044,600 shares outstanding as of December 31, 2022	[1]	5,587	6,418
Additional paid-in capital	[1]	4,829,301	4,776,804
Retained earnings	[1]	4,706,192	9,001,173
Accumulated other comprehensive loss	[1]	(147,911)	(159,073)
Common stock in treasury, at cost; 70,776 shares and 239,088 shares as of March 31, 2023 and December 31, 2022, respectively	[1]	(1,997,809)	(6,600,281)
Total stockholders' equity	[1]	7,395,360	7,025,041
Total Liabilities and Stockholders' Equity	[1]	$ 8,844,362	$ 8,293,105

[1] 1 Stock Split - On February 28, 2023, the Company announced a two-for-one stock split of its common stock to be effected in the form of a 100% stock dividend. The stock dividend was issued on March 27, 2023 (the “Stock Split”). The accompanying condensed consolidated financial statements and notes thereto have been retroactively updated to reflect the Stock Split. See Note 1 for additional information.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2023	Dec. 31, 2022
CONDENSED CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.005	$ 0.005
Common stock, shares authorized	1,250,000	1,250,000
Common stock, shares issued	1,117,392	1,283,688
Common stock, shares outstanding	1,046,616	1,044,600
Common stock in treasury, shares	70,776	239,088

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
NET SALES		$ 1,698,930	$ 1,518,574
COST OF SALES		801,081	741,907
GROSS PROFIT		897,849	776,667
OPERATING EXPENSES		412,785	377,178
OPERATING INCOME		485,064	399,489
INTEREST and OTHER INCOME (EXPENSE), net		12,496	(7,300)
INCOME BEFORE PROVISION FOR INCOME TAXES		497,560	392,189
PROVISION FOR INCOME TAXES		100,116	97,986
NET INCOME		$ 397,444	$ 294,203
NET INCOME PER COMMON SHARE1:
Basic	[1]	$ 0.38	$ 0.28
Diluted	[1]	$ 0.38	$ 0.27
WEIGHTED AVERAGE NUMBER OF SHARES OF COMMON STOCK AND COMMON STOCK EQUIVALENTS1:
Basic	[1]	1,044,909	1,058,810
Diluted	[1]	1,059,069	1,071,108

[1] Stock Split - The accompanying condensed consolidated financial statements and notes thereto have been retroactively updated to reflect the Stock Split. See Note 1 for additional information.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income, as reported	$ 397,444	$ 294,203
Other comprehensive income (loss):
Change in foreign currency translation adjustment	7,981	1,079
Available-for-sale investments:
Change in net unrealized gains (losses)	3,181	(4,059)
Other comprehensive income (loss)	11,162	(2,980)
Comprehensive income	$ 408,606	$ 291,223

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Total
Balance at Dec. 31, 2021	$ 6,400	$ 4,649,420	$ 7,809,549	$ (69,165)	$ (5,829,253)	$ 6,566,951
Balance (in shares) at Dec. 31, 2021	1,280,086				(221,440)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Stock-based compensation		16,175				16,175
Stock options/awards	$ 6	4,504				4,510
Stock options/awards (in shares)	970
Unrealized gain (loss), net on available-for-sale securities				(4,059)		(4,059)
Repurchase of common stock					$ (12,187)	(12,187)
Repurchase of common stock (in shares)					(332)
Foreign currency translation				1,079		1,079
Net income			294,203			294,203
Balance at Mar. 31, 2022	$ 6,406	4,670,099	8,103,752	(72,145)	$ (5,841,440)	6,866,672
Balance (in shares) at Mar. 31, 2022	1,281,056				(221,772)
Balance at Dec. 31, 2022	$ 6,418	4,776,804	9,001,173	(159,073)	$ (6,600,281)	7,025,041	[1]
Balance (in shares) at Dec. 31, 2022	1,283,688				(239,088)
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
Stock-based compensation		15,743				15,743
Stock options/awards	$ 19	36,329				$ 36,348
Stock options/awards (in shares)	3,704					3,129
Unrealized gain (loss), net on available-for-sale securities				3,181		$ 3,181
Repurchase of common stock					$ (90,378)	(90,378)
Repurchase of common stock (in shares)					(1,688)
Retirement of treasury stock	$ (850)	425	(4,692,425)		$ 4,692,850
Retirement of treasury stock (in shares)	(170,000)				170,000
Foreign currency translation				7,981		7,981
Net income			397,444			397,444
Balance at Mar. 31, 2023	$ 5,587	$ 4,829,301	$ 4,706,192	$ (147,911)	$ (1,997,809)	$ 7,395,360	[1]
Balance (in shares) at Mar. 31, 2023	1,117,392				(70,776)

[1] 1 Stock Split - On February 28, 2023, the Company announced a two-for-one stock split of its common stock to be effected in the form of a 100% stock dividend. The stock dividend was issued on March 27, 2023 (the “Stock Split”). The accompanying condensed consolidated financial statements and notes thereto have been retroactively updated to reflect the Stock Split. See Note 1 for additional information.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 397,444	$ 294,203
Adjustments to reconcile net income to net cash provided by (used in)operating activities:
Depreciation and amortization	16,808	14,599
Non-cash lease expense	2,160	1,481
Gain on disposal of property and equipment	(385)	(6)
Stock-based compensation	16,051	16,332
Effect on cash of changes in operating assets and liabilities net of acquisition:
Accounts receivable	(167,512)	(134,433)
Inventories	35,495	(208,673)
Prepaid expenses and other assets	1,273	(29,621)
Prepaid income taxes	3,986	(5,885)
Accounts payable	51,124	18,329
Accrued liabilities	14,207	20,603
Accrued promotional allowances	48,265	61,171
Accrued compensation	(30,261)	(32,122)
Income taxes payable	41,617	(9,818)
Other liabilities	(751)	(596)
Deferred revenue	(5,046)	(5,915)
Net cash provided by (used in) operating activities	424,475	(351)
CASH FLOWS FROM INVESTING ACTIVITIES:
Sales of available-for-sale investments	522,501	504,808
Purchases of available-for-sale investments	(518,751)	(441,925)
Acquisition of CANarchy, net of cash	0	(330,356)
Purchases of property and equipment	(40,100)	(21,511)
Proceeds from sale of property and equipment	564	14
Additions to intangibles	(3,952)	(8,419)
Increase in other assets	(13,028)	(6,241)
Net cash used in investing activities	(52,766)	(303,630)
CASH FLOWS FROM FINANCING ACTIVITIES:
(Payments) borrowings on debt	(7,271)	3,454
Issuance of common stock	36,348	4,510
Purchases of common stock held in treasury	(35,126)	(12,187)
Net cash used in financing activities	(6,049)	(4,223)
Effect of exchange rate changes on cash and cash equivalents	(141)	(3,472)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	365,519	(311,676)
CASH AND CASH EQUIVALENTS, beginning of period	1,307,141	1,326,462
CASH AND CASH EQUIVALENTS, end of period	1,672,660	1,014,786
Cash paid during the period for:
Interest	96	91
Income taxes	$ 56,985	$ 112,863

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL DISCLOSURE OF NON-CASH ITEMS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONSOLIDATED STATEMENTS OF CASH FLOWS - SUPPLEMENTAL DISCLOSURE OF NON-CASH ITEMS
Accrued liabilities for intangible assets	$ 9.6	$ 11.3
Accured liabilities purchased from employees	55.3
Accounts payable for purchases of equipment	$ 2.5	$ 4

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
BASIS OF PRESENTATION	Mar. 31, 2023
BASIS OF PRESENTATION
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Reference is made to the Notes to Consolidated Financial Statements, in Monster Beverage Corporation and Subsidiaries (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2022 for a summary of significant accounting policies utilized by the Company and its consolidated subsidiaries and other disclosures, which should be read in conjunction with this Quarterly Report on Form 10-Q (“Form 10-Q”). The Company’s condensed consolidated financial statements included in this Form 10-Q have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and Securities and Exchange Commission (“SEC”) rules and regulations applicable to interim financial reporting. They do not include all the information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP. The information set forth in these interim condensed consolidated financial statements for the three-months ended March 31, 2023 and 2022, respectively, is unaudited and reflects all adjustments, which include only normal recurring adjustments and which in the opinion of management are necessary to make the interim condensed consolidated financial statements not misleading. Results of operations for periods covered by this report may not necessarily be indicative of results of operations for the full year. The preparation of financial statements in conformity with GAAP necessarily requires management to make estimates and assumptions that affect 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 periods. Actual results could differ from these estimates. Treasury Stock Retirement Stock Split Recent Accounting Pronouncements There have been no changes in recently issued or adopted accounting pronouncements that would materially impact the Company from those disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
REVENUE RECOGNITION	Mar. 31, 2023
REVENUE RECOGNITION
REVENUE RECOGNITION	2. REVENUE RECOGNITION Revenues are accounted for in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606, “Revenue from Contracts with Consumers”. The Company has four operating and reportable segments: (i) Monster Energy® Drinks segment (“Monster Energy® Drinks”), which is primarily comprised of the Company’s Monster Energy® drinks, Reign Total Body Fuel® high performance energy drinks, Monster ® TM TM The Company’s Monster Energy® Drinks segment primarily generates net operating revenues by selling ready-to-drink packaged energy drinks primarily to bottlers and full service beverage bottlers/distributors (“bottlers/distributors”). In some cases, the Company sells ready-to-drink packaged energy drinks directly to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, drug stores, foodservice customers, value stores, e-commerce retailers and the military. The Company’s Strategic Brands segment primarily generates net operating revenues by selling “concentrates” and/or “beverage bases” to authorized bottling and canning operations. Such bottlers generally combine the concentrates and/or beverage bases with sweeteners, water and other ingredients to produce ready-to-drink packaged energy drinks. The ready-to-drink packaged energy drinks are then sold by such bottlers to other bottlers/distributors and to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, foodservice customers, drug stores, value stores, e-commerce retailers and the military. To a lesser extent, the Strategic Brands segment generates net operating revenues by selling certain ready-to-drink packaged energy drinks to bottlers/distributors. The Company’s Alcohol Brands segment primarily generates operating revenues by selling kegged and ready-to-drink canned beers, hard seltzers and FMBs primarily to beer distributors in the United States. The majority of the Company’s revenue is recognized when it satisfies a single performance obligation by transferring control of its products to a customer. Control is generally transferred when the Company’s products are either shipped or delivered based on the terms contained within the underlying contracts or agreements. Certain of the Company’s bottlers/distributors may also perform a separate function as a co-packer on the Company’s behalf. In such cases, control of the Company’s products passes to such bottlers/distributors when they notify the Company that they have taken possession or transferred the relevant portion of the Company’s finished goods. The Company’s general payment terms are short-term in duration. The Company does not have significant financing components or payment terms. The Company did not have any material unsatisfied performance obligations as of March 31, 2023 and December 31, 2022. The Company excludes from revenues all taxes assessed by a governmental authority that are imposed on the sale of its products and collected from customers. Distribution expenses to transport the Company’s products, where applicable, and warehousing expense after manufacture are accounted for within operating expenses. Promotional and other allowances (variable consideration) recorded as a reduction to net sales for the Company’s energy drink products primarily include consideration given to the Company’s non-alcohol bottlers/distributors or retail customers including, but not limited to, the following: ● discounts granted off list prices to support price promotions to end-consumers by retailers; ● reimbursements given to the Company’s bottlers/distributors for agreed portions of their promotional spend with retailers, including slotting, shelf space allowances and other fees for both new and existing products; ● the Company’s agreed share of fees given to bottlers/distributors and/or directly to retailers for advertising, in-store marketing and promotional activities; ● the Company’s agreed share of slotting, shelf space allowances and other fees given directly to retailers, club stores and/or wholesalers; ● incentives given to the Company’s bottlers/distributors and/or retailers for achieving or exceeding certain predetermined sales goals; ● discounted or free products; ● contractual fees given to the Company’s bottlers/distributors related to sales made directly by the Company to certain customers that fall within the bottlers’/distributors’ sales territories; and ● commissions to TCCC based on the Company’s sales to wholly-owned subsidiaries of TCCC (the “TCCC Subsidiaries”) and/or to TCCC bottlers/distributors accounted for under the equity method by TCCC (the “TCCC Related Parties”). The Company’s promotional allowance programs for its energy drink products are executed through separate agreements in the ordinary course of business. These agreements generally provide for one or more of the arrangements described above and are of varying durations, typically ranging from one week to one year. The Company’s promotional and other allowances for its energy drink products are calculated based on various programs with bottlers/distributors and retail customers, and accruals are established at the time of initial product sale for the Company’s anticipated liabilities. These accruals are based on agreed upon terms as well as the Company’s historical experience with similar programs and require management’s judgment with respect to estimating consumer participation and/or bottler/distributor and retail customer performance levels. Differences between such estimated expenses and actual expenses for promotional and other allowance costs have historically been insignificant and are recognized in earnings in the period such differences are determined. Promotional and other allowances for our Alcohol Brands segment primarily include price promotions where permitted. Amounts received pursuant to new and/or amended distribution agreements entered into with certain bottlers/distributors relating to the costs associated with terminating the Company’s prior distributors, are accounted for as deferred revenue and recognized as revenue ratably over the anticipated life of the respective distribution agreements, generally over 20 years. The Company also enters into license agreements that generate revenues associated with third-party sales of non-beverage products bearing the Company’s trademarks including, but not limited to, clothing, hats, t-shirts, jackets, helmets and automotive wheels. Management believes that adequate provision has been made for cash discounts, returns and spoilage based on the Company’s historical experience. Disaggregation of Revenue The following tables disaggregate the Company’s revenue by geographical markets and reportable segments: Three-Months Ended March 31, 2023 Latin America U.S. and and Net Sales Canada EMEA 1 Asia Pacific Caribbean Total Monster Energy® Drinks $ 1,021,328 $ 277,111 $ 121,994 $ 141,235 $ 1,561,668 Strategic Brands 43,043 30,951 8,983 3,381 86,358 Alcohol Brands 46,290 — — — 46,290 Other 4,614 — — — 4,614 Total Net Sales $ 1,115,275 $ 308,062 $ 130,977 $ 144,616 $ 1,698,930 Three-Months Ended March 31, 2022 Latin America U.S. and and Net Sales Canada EMEA 1 Asia Pacific Caribbean Total Monster Energy® Drinks $ 925,680 $ 260,889 $ 110,556 $ 107,722 $ 1,404,847 Strategic Brands 53,051 30,176 6,662 2,704 92,593 Alcohol Brands 2 15,207 — — — 15,207 Other 5,927 — — — 5,927 Total Net Sales $ 999,865 $ 291,065 $ 117,218 $ 110,426 $ 1,518,574 1 Europe, Middle East and Africa (“EMEA”) 2 Effectively from February 17, 2022 to March 31, 2022 Contract Liabilities Amounts received from certain bottlers/distributors at inception of their distribution contracts or at the inception of certain sales/marketing programs are accounted for as deferred revenue. As of March 31, 2023, the Company had $264.2 million of deferred revenue, which is included in current and long-term deferred revenue in the Company’s condensed consolidated balance sheet. As of December 31, 2022, the Company had $267.1 million of deferred revenue, which is included in current and long-term deferred revenue in the Company’s condensed consolidated balance sheet. During the three-months ended March 31, 2023 and 2022, $9.9 million and $10.0 million, respectively, of deferred revenue was recognized in net sales. See Note 10.

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2023
LEASES
LEASES	3. LEASES The Company leases identified assets comprised of real estate and equipment. Real estate leases consist primarily of office and warehouse space and equipment leases consist of vehicles and warehouse equipment. At the inception of a contract, the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the term, and (3) whether the Company has the right to direct the use of the asset. At inception of a lease, the Company allocates the consideration in the contract to each lease and non-lease component based on the component’s relative stand-alone price to determine the lease payments. Lease and non-lease components are accounted for separately. Leases are classified as either finance leases or operating leases based on criteria in ASC 842, “Leases”. The Company’s operating leases are comprised of real estate and warehouse equipment, and the Company’s finance leases are comprised of vehicles. Right-of-use (“ROU”) assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As the Company’s leases generally do not provide an implicit rate, the Company uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at the commencement date. ROU assets also include any lease payments made and exclude lease incentives. Lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Certain of the Company’s real estate leases contain variable lease payments, including payments based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at the lease commencement date. Additional payments based on the change in an index or rate, or payments based on a change in the Company’s portion of real estate taxes and insurance, are recorded as a period expense when incurred. Lease expense for operating leases, consisting of lease payments, is recognized on a straight-line basis over the lease term and is included in operating expenses in the consolidated statement of income. Lease expense for finance leases consists of the amortization of the ROU asset on a straight-line basis over the asset’s estimated useful life and is included in operating expenses in the consolidated statement of income. Interest expense on finance leases is calculated using the amortized cost basis and is included in other income (expense), net in the consolidated statement of income. The Company’s leases have remaining lease terms of less than one year to 11 years, some which leases leases The components of lease cost were comprised of the following: Three-Months Three-Months Ended Ended March 31, March 31, 2023 2022 Operating lease cost $ 2,467 $ 1,694 Short-term lease cost 979 929 Variable lease cost 215 183 Finance leases: Amortization of ROU assets 123 127 Interest on lease liabilities 14 3 Finance lease cost 137 130 Total lease cost $ 3,798 $ 2,936 Supplemental cash flow information for the following periods: Three-Months Three-Months Ended March 31, Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 2,391 $ 1,652 Operating cash outflows from finance leases 14 3 Financing cash outflows from finance leases 598 592 ROU assets obtained in exchange for lease obligations: Finance leases 2,227 832 Operating leases 313 13,197 ROU assets for operating and finance leases recognized in the Company’s condensed consolidated balance sheets were comprised of the following at: March 31, 2023 Real Estate Equipment Total Balance Sheet Location Operating leases $ 35,953 $ 256 $ 36,209 Other Assets Finance leases — 3,694 3,694 Property and Equipment, net December 31, 2022 Real Estate Equipment Total Balance Sheet Location Operating leases $ 37,682 $ 330 $ 38,012 Other Assets Finance leases — 1,598 1,598 Property and Equipment, net Operating and finance lease liabilities recognized in the Company’s condensed consolidated balance sheets were as follows at: March 31, 2023 Operating Leases Finance Leases Accrued liabilities $ 7,642 $ 2,393 Other liabilities 27,958 33 Total $ 35,600 $ 2,426 December 31, 2022 Operating Leases Finance Leases Accrued liabilities $ 7,747 $ 757 Other liabilities 29,586 41 Total $ 37,333 $ 798 The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases at March 31, 2023 and December 31, 2022 were as follows: March 31, 2023 Operating Leases Finance Leases Weighted-average remaining lease term (years) 6.6 0.9 Weighted-average discount rate 3.5 % 5.7 % December 31, 2022 Operating Leases Finance Leases Weighted-average remaining lease term (years) 6.7 0.8 Weighted-average discount rate 3.4 % 3.6 % The following table reconciles the undiscounted future lease payments for operating and finance leases to the operating and finance leases recorded in the Company’s condensed consolidated balance sheet at March 31, 2023: Undiscounted Future Lease Payments Operating Leases Finance Leases 2023 (from April 1, 2023 to December 31, 2023) $ 6,626 $ 2,051 2024 7,469 423 2025 5,318 17 2026 4,181 2 2027 4,059 — 2028 and thereafter 12,352 — Total lease payments 40,005 2,493 Less imputed interest (4,405) (67) Total $ 35,600 $ 2,426 As of March 31, 2023, the Company had an additional operating lease for office and warehouse space that had not yet commenced of $1.1 million in aggregate. This operating lease will commence in June 2023 with a term of four years. As of March 31, 2023, the Company did not have any significant additional finance leases that had not yet commenced.

INVESTMENTS

INVESTMENTS	3 Months Ended
INVESTMENTS	Mar. 31, 2023
INVESTMENTS
INVESTMENTS	4. INVESTMENTS The following table summarizes the Company’s investments at: Continuous Continuous Gross Gross Unrealized Unrealized Unrealized Unrealized Loss Position Loss Position Amortized Holding Holding Fair less than 12 greater than 12 March 31, 2023 Cost Gains Losses Value Months Months Available-for-sale Short-term: Commercial paper $ 296,708 $ 1 $ 1 $ 296,708 $ 1 $ — Certificates of deposit 12,630 — — 12,630 — — Municipal securities 129,779 3 208 129,574 208 — U.S. government agency securities 129,605 35 332 129,308 332 — U.S. treasuries 744,403 156 2,180 742,379 2,180 — Corporate bonds 72,536 15 122 72,429 122 — Long-term: U.S. government agency securities 10,432 7 9 10,430 9 — U.S. treasuries 28,996 9 34 28,971 34 — Corporate bonds 1,753 — 2 1,751 2 — Total $ 1,426,842 $ 226 $ 2,888 $ 1,424,180 $ 2,888 $ — Continuous Continuous Gross Gross Unrealized Unrealized Unrealized Unrealized Loss Position Loss Position Amortized Holding Holding Fair less than 12 greater than 12 December 31, 2022 Cost Gains Losses Value Months Months Available-for-sale Short-term: Commercial paper $ 197,712 $ 1 $ 4 $ 197,709 $ 4 $ — Certificates of deposit 10,078 — — 10,078 — — Municipal securities 211,791 60 612 211,239 612 — U.S. government agency securities 109,697 3 715 108,985 715 — U.S. treasuries 838,825 17 4,539 834,303 4,539 — Long-term: U.S. government agency securities 2,016 — 3 2,013 3 — U.S. treasuries 53,215 20 71 53,164 71 — Variable rate demand notes 6,266 — — 6,266 — — Total $ 1,429,600 $ 101 $ 5,944 $ 1,423,757 $ 5,944 $ — During the three-months ended March 31, 2023 and 2022, realized gains or losses recognized on the sale of investments were not significant. The Company’s investments at March 31, 2023 and December 31, 2022 carried investment grade credit ratings. The following table summarizes the underlying contractual maturities of the Company’s investments at: March 31, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Less than 1 year: Commercial paper $ 296,708 $ 296,708 $ 197,712 $ 197,710 Municipal securities 129,779 129,574 211,791 211,239 U.S. government agency securities 129,605 129,308 109,697 108,985 Certificates of deposit 12,630 12,630 10,078 10,078 U.S. treasuries 744,403 742,379 838,825 834,302 Corporate bonds 72,536 72,429 — — Due 1 -10 years: U.S. treasuries 28,996 28,971 53,215 53,164 U.S. government agency securities 10,432 10,430 2,016 2,013 Variable rate demand notes — — 4,862 4,862 Corporate bonds 1,753 1,751 — — Due 11 - 20 years: Variable rate demand notes — — 1,404 1,404 Total $ 1,426,842 $ 1,424,180 $ 1,429,600 $ 1,423,757

FAIR VALUE OF CERTAIN FINANCIAL

FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES	3 Months Ended
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES	Mar. 31, 2023
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES	5. FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES ASC 820, “Fair Value Measurement”, provides a framework for measuring fair value and requires disclosures regarding fair value measurements. ASC 820 defines fair value as the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs, where available. The three levels of inputs required by the standard that the Company uses to measure fair value are summarized below. ● Level 1: Quoted prices in active markets for identical assets or liabilities. ● Level 2: Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities. ● Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. ASC 820 requires the use of observable market inputs (quoted market prices) when measuring fair value and requires a Level 1 quoted price to be used to measure fair value whenever possible. The following tables present the fair value of the Company’s financial assets and liabilities that are recorded at fair value on a recurring basis, segregated among the appropriate levels within the fair value hierarchy at: March 31, 2023 Level 1 Level 2 Level 3 Total Cash $ 886,785 $ — $ — $ 886,785 Money market funds 713,009 — — 713,009 Certificates of deposit — 41,050 — 41,050 Commercial paper — 310,774 — 310,774 Corporate bonds — 74,180 — 74,180 Municipal securities — 129,574 — 129,574 U.S. government agency securities — 151,678 — 151,678 U.S. treasuries — 789,790 — 789,790 Foreign currency derivatives — 77 — 77 Total $ 1,599,794 $ 1,497,123 $ — $ 3,096,917 Amounts included in: Cash and cash equivalents $ 1,599,794 $ 72,866 $ — $ 1,672,660 Short-term investments — 1,383,028 — 1,383,028 Accounts receivable, net — 382 — 382 Investments — 41,152 — 41,152 Accrued liabilities — (305) — (305) Total $ 1,599,794 $ 1,497,123 $ — $ 3,096,917 December 31, 2022 Level 1 Level 2 Level 3 Total Cash $ 1,132,509 $ — $ — $ 1,132,509 Money market funds 121,444 — — 121,444 Certificates of deposit — 10,078 — 10,078 Commercial paper — 225,067 — 225,067 Variable rate demand notes — 6,266 — 6,266 Municipal securities — 213,798 — 213,798 U.S. government agency securities — 113,357 — 113,357 U.S. treasuries — 908,379 — 908,379 Foreign currency derivatives — (3,733) — (3,733) Total $ 1,253,953 $ 1,473,212 $ — $ 2,727,165 Amounts included in: Cash and cash equivalents $ 1,253,953 $ 53,188 $ — $ 1,307,141 Short-term investments — 1,362,314 — 1,362,314 Accounts receivable, net — 965 — 965 Investments — 61,443 — 61,443 Accrued liabilities — (4,698) — (4,698) Total $ 1,253,953 $ 1,473,212 $ — $ 2,727,165 All of the Company’s short-term and long-term investments are classified within Level 1 or Level 2 of the fair value hierarchy. The Company’s valuation of its Level 1 investments is based on quoted market prices in active markets for identical securities. The Company’s valuation of its Level 2 investments is based on other observable inputs, specifically a market approach which utilizes valuation models, pricing systems, mathematical tools and other relevant information for the same or similar securities. The Company’s valuation of its Level 2 foreign currency exchange contracts is based on quoted market prices of the same or similar instruments, adjusted for counterparty risk. There were no transfers between Level 1 and Level 2 measurements during the three-months ended March 31, 2023, or during the year-ended December 31, 2022, and there were no changes in the Company’s valuation techniques.

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	Mar. 31, 2023
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	6. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES The Company is exposed to foreign currency exchange rate risks related primarily to its foreign business operations. During the three-months ended March 31, 2023 and the year-ended December 31, 2022, the Company entered into forward currency exchange contracts with financial institutions to create an economic hedge to specifically manage a portion of the foreign exchange risk exposure associated with certain consolidated subsidiaries’ non-functional currency denominated assets and liabilities. All foreign currency exchange contracts of the Company that were outstanding as of March 31, 2023 have terms of one month or less. The Company does not enter into forward currency exchange contracts for speculation or trading purposes. The Company has not designated its foreign currency exchange contracts as hedge transactions under ASC 815, “Derivatives and Hedging.” Therefore, gains and losses on the Company’s foreign currency exchange contracts are recognized in interest and other income (expense), net, in the condensed consolidated statements of income, and are largely offset by the changes in the fair value of the underlying economically hedged item. The notional amount and fair value of all outstanding foreign currency derivative instruments in the Company’s condensed consolidated balance sheets consist of the following at: March 31, 2023 Derivatives not designated as hedging instruments under Notional Fair ASC 815 Amount Value Balance Sheet Location Assets: Foreign currency exchange contracts: Receive CAD/pay USD $ 44,220 $ 168 Accounts receivable, net Receive USD/pay CLP 56,610 159 Accounts receivable, net Receive USD/pay COP 15,493 37 Accounts receivable, net Receive RSD/pay USD 4,560 18 Accounts receivable, net Liabilities: Foreign currency exchange contracts: Receive USD/pay EUR $ 48,377 $ (105) Accrued liabilities Receive USD/pay ZAR 4,117 (97) Accrued liabilities Receive USD/pay NZD 6,906 (32) Accrued liabilities Receive USD/pay CNY 18,642 (31) Accrued liabilities Receive USD/pay GBP 14,292 (24) Accrued liabilities Receive SGD/pay USD 24,977 (10) Accrued liabilities Receive AUD/pay USD 2,884 (6) Accrued liabilities December 31, 2022 Derivatives not designated as hedging instruments under Notional Fair ASC 815 Amount Value Balance Sheet Location Assets: Foreign currency exchange contracts: Receive SGD/pay USD $ 15,883 $ 398 Accounts receivable, net Receive CAD/pay USD 34,467 106 Accounts receivable, net Receive USD/pay MXN 12,430 88 Accounts receivable, net Receive USD/pay GBP 43,551 118 Accounts receivable, net Receive RSD/pay USD 3,513 112 Accounts receivable, net Receive GBP/pay USD 34,716 100 Accounts receivable, net Receive GBP/pay USD 4,321 31 Accounts receivable, net Receive USD/pay COP 11,570 12 Accounts receivable, net Liabilities: Foreign currency exchange contracts: Receive USD/pay CLP $ 43,071 $ (2,549) Accrued liabilities Receive USD/pay EUR 40,592 (1,377) Accrued liabilities Receive USD/pay CNY 12,460 (362) Accrued liabilities Receive USD/pay EUR 34,714 (295) Accrued liabilities Receive USD/pay NZD 4,093 (91) Accrued liabilities Receive USD/pay AUD 1,271 (23) Accrued liabilities Receive USD/pay ZAR 3,124 (1) Accrued liabilities The net gains (losses) on derivative instruments in the condensed consolidated statements of income were as follows: Amount of gain (loss) recognized in income on derivatives Three-months ended Derivatives not designated as Location of gain (loss) hedging instruments under recognized in income on March 31, March 31, ASC 815 derivatives 2023 2022 Foreign currency exchange contracts Interest and other income (expense), net $ (7,852) $ (4,019)

INVENTORIES

INVENTORIES	3 Months Ended
INVENTORIES	Mar. 31, 2023
INVENTORIES
INVENTORIES	7. INVENTORIES Inventories consist of the following at: March 31, December 31, 2023 2022 Raw materials $ 421,914 $ 467,392 Work in process 1,615 1,688 Finished goods 483,194 466,551 $ 906,723 $ 935,631

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	3 Months Ended
PROPERTY AND EQUIPMENT, NET	Mar. 31, 2023
PROPERTY AND EQUIPMENT, NET
PROPERTY AND EQUIPMENT, NET	8. PROPERTY AND EQUIPMENT, NET Property and equipment consist of the following at: March 31, December 31, 2023 2022 Land $ 139,922 $ 139,798 Leasehold improvements 31,753 31,327 Furniture and fixtures 9,335 9,286 Office and computer equipment 22,532 22,386 Computer software 5,310 5,906 Equipment 255,991 244,739 Buildings 164,821 163,885 Vehicles 51,675 49,175 Assets under construction 111,283 83,553 792,622 750,055 Less: accumulated depreciation and amortization (246,700) (233,158) $ 545,922 $ 516,897 Total depreciation and amortization expense was $14.8 million and $13.1 million for the three-months ended March 31, 2023 and 2022, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Mar. 31, 2023
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	9. The following is a roll-forward of goodwill for the three-months ended March 31, 2023 and 2022 by reportable segment: Monster Energy® Strategic Alcohol Drinks Brands Brands Other Total Balance at December 31, 2022 $ 693,644 $ 637,999 $ 86,298 $ — $ 1,417,941 Acquisitions — — — — — Balance at March 31, 2023 $ 693,644 $ 637,999 $ 86,298 $ — $ 1,417,941 Monster Energy® Strategic Alcohol Drinks Brands Brands Other Total Balance at December 31, 2021 $ 693,644 $ 637,999 $ — $ — $ 1,331,643 Acquisitions — — 80,285 — 80,285 Balance at March 31, 2022 $ 693,644 $ 637,999 $ 80,285 $ — $ 1,411,928 Intangible assets consist of the following at: March 31, December 31, 2023 2022 Amortizing intangibles $ 121,378 $ 121,378 Accumulated amortization (70,800) (68,790) 50,578 52,588 Non-amortizing intangibles 1,172,020 1,167,822 $ 1,222,598 $ 1,220,410 Amortizing intangibles primarily consist of customer relationships. All amortizing intangibles have been assigned an estimated finite useful life and such intangibles are amortized on a straight-line basis over the number of years that approximate their respective useful lives, generally five The following is the future estimated amortization expense related to amortizing intangibles as of March 31, 2023: 2023 (from April 1, 2023 to December 31, 2023) $ 2,736 2024 3,648 2025 3,647 2026 3,647 2027 3,646 2028 and thereafter 33,254 $ 50,578

DISTRIBUTION AGREEMENTS

DISTRIBUTION AGREEMENTS	3 Months Ended
DISTRIBUTION AGREEMENTS	Mar. 31, 2023
DISTRIBUTION AGREEMENTS
DISTRIBUTION AGREEMENTS	10 DISTRIBUTION AGREEMENTS In the normal course of business, amounts received pursuant to new and/or amended distribution agreements entered into with certain bottlers/distributors, relating to the costs associated with terminating agreements with the Company’s prior distributors, or at the inception of certain sales/marketing programs are accounted for as deferred revenue and are recognized as revenue ratably over the anticipated life of the respective agreement, generally 20 years or program duration, as the case may be. Revenue recognized was $9.9 million and $10.0 million for the three-months ended March 31, 2023 and 2022, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES The Company had purchase commitments aggregating approximately $336.8 million at March 31, 2023, which represented commitments made by the Company and its subsidiaries to various suppliers of raw materials for the production of its products. These obligations vary in terms, but are generally satisfied within one year. The Company had contractual obligations aggregating approximately $380.6 million at March 31, 2023, which related primarily to sponsorships and other marketing activities. The Company has a credit facility with HSBC Bank (China) Company Limited, Shanghai Branch, of $15.0 million. At March 31, 2023, the interest rate on borrowings under the line of credit was 5.5%. As of March 31, 2023, $1.1 million was outstanding on this line of credit. Litigation The Company evaluates, on a quarterly basis, developments in legal proceedings and other matters that could cause an increase or decrease in the amount of the liability that is accrued, if any, and any related insurance reimbursements. As of March 31, 2023, $0.3 million of loss contingencies were included in the Company’s accompanying consolidated balance sheet. As of December 31, 2022, no loss contingencies were included in the Company’s accompanying consolidated balance sheet. On September 29, 2022, a jury in the U.S. District Court for the Central District of California (the “District Court”) awarded Monster Energy Company (“MEC”) approximately $293 million in damages in its false advertising and trade secrets case against Vital Pharmaceuticals, Inc. (“VPX”), the maker of Bang Energy. The jury found VPX and its former chief executive officer John H. Owoc to have falsely advertised the “Super Creatine” ingredient of Bang Energy and to have acted willfully and deliberately in violating the federal Lanham Act. The jury also found that VPX stole trade secrets and interfered with MEC’s contracts over shelf space with certain key vendors. On April 12, 2023, the District Court granted Monster’s motion for a permanent injunction which, among other things, enjoins VPX, Mr. Owoc, and others working in concert with them from falsely or deceptively claiming that BANG or any other beverages contain creatine or a form of creatine, requires them to remove all such advertising within 60 days, and requires VPX and Mr. Owoc to issue corrective statements to consumers and non-consumer partners, including retailers and distributors. The parties have completed briefing the remaining post-verdict issues, including MEC’s request for enhanced and punitive damages. In April 2022, MEC and Orange Bang, Inc. (“Orange Bang”) filed a joint motion in the District Court to confirm a final arbitration award against VPX that awarded MEC and Orange Bang $175.0 million and a 5% royalty on all future sales of VPX’s Bang Energy drink and other Bang-branded products as well as certain fees and costs. Pursuant to the terms of the agreement between MEC and Orange Bang, the award and future royalties will, after accounting for MEC’s expended fees and costs, be shared equally between MEC and Orange Bang. The arbitration arose from a settlement agreement that VPX entered into in 2010 with Orange Bang, a family-owned beverage business. Pursuant to the terms of that agreement, VPX is only permitted to use the Bang mark on “creatine-based” products or on Bang products that are marketed and sold only in the vitamin and dietary supplement sections of stores. On September 29, 2022, the District Court entered final judgment confirming the award. On October 28, 2022, VPX filed a notice of appeal of the District Court’s final judgment confirming the award. On October 10, 2022, VPX, along with certain of its domestic subsidiaries and affiliates, filed for protection under Chapter 11 of the Bankruptcy Code in the Southern District of Florida. Due to such ongoing proceedings, VPX’s appeal of the District Court’s final judgment confirming the final arbitration award is stayed. While reserving all rights to appeal, VPX made its first royalty payment of $3.6 million on February 14, 2023, which is for sales of Bang Energy drink and other Bang-branded products from October 10, 2022 through December 31, 2022. This payment is subject to potential claw back if, among other things, the judgment and final arbitration award are overturned on appeal or VPX becomes administratively insolvent. In addition, per ASC 450 “Contingencies”, the Company will not recognize the September 2022 jury award or the April 2022 arbitration award until the awards are realized or realizable. As of May 5, 2023, the proceedings have yet to progress to a stage where there is sufficient information for an accurate timeline of when the awards, including any royalty payments received, will be realized or realizable, if at all.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE LOSS	Mar. 31, 2023
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS	12. ACCUMULATED OTHER COMPREHENSIVE LOSS Changes in accumulated other comprehensive loss by component, after tax, for the three-months ended March 31, 2023 and 2022 are as follows: Unrealized Currency Gains (Losses) Translation on Available-for- Losses Sale Securities Total Balance at December 31, 2022 $ (153,230) $ (5,843) $ (159,073) Other comprehensive income before reclassifications 7,981 3,181 11,162 Net current-period other comprehensive income 7,981 3,181 11,162 Balance at March 31, 2023 $ (145,249) $ (2,662) $ (147,911) Unrealized Currency Gains (Losses) Translation on Available-for- Losses Sale Securities Total Balance at December 31, 2021 $ (68,209) $ (956) $ (69,165) Other comprehensive (loss) income before reclassifications 1,079 (4,059) (2,980) Net current-period other comprehensive (loss) income 1,079 (4,059) (2,980) Balance at March 31, 2022 $ (67,130) $ (5,015) $ (72,145)

TREASURY STOCK

TREASURY STOCK	3 Months Ended
TREASURY STOCK	Mar. 31, 2023
TREASURY STOCK
TREASURY STOCK	13. TREASURY STOCK On March 10, 2023, the Company retired 170.0 million shares (stock split adjusted) of treasury stock owned by the Company. The retired stock had a carrying value of approximately$4.69 billion. The Company’s accounting policy upon the formal retirement of treasury stock is to deduct its par value from common stock and to reflect any excess of cost over par as a deduction from retained earnings. On June 14, 2022, the Company’s Board of Directors authorized a share repurchase program for the purchase of up to $500.0 million of the Company’s outstanding common stock (the “June 2022 Repurchase Plan”). During the three-months ended March 31, 2023, no shares were repurchased under the June 2022 Repurchase Plan. As of May 5, 2023, $182.8 million remained available for repurchase under the June 2022 Repurchase Plan. On November 2, 2022, the Company’s Board of Directors authorized a share repurchase program for the purchase of up to an additional $500.0 million of the Company’s outstanding common stock (the “November 2022 Repurchase Plan”). During the three-months ended March 31, 2023, no shares were repurchased under the November 2022 Repurchase Plan. As of May 5, 2023, $500.0 million remained available for repurchase under the November 2022 Repurchase Plan. The aggregate amount of the Company’s outstanding common stock that remains available for repurchase under all previously authorized repurchase plans is $682.8 million as of May 5, 2023. During the three-months ended March 31, 2023, 1.7 million shares of common stock were purchased from employees in lieu of cash payments for options exercised or withholding taxes due for a total amount of $90.4 million. While such purchases are considered common stock repurchases, they are not counted as purchases against the Company’s authorized share repurchase programs. Such shares are included in common stock in treasury in the accompanying consolidated balance sheet at March 31, 2023.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
STOCK-BASED COMPENSATION	Mar. 31, 2023
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION	14. STOCK-BASED COMPENSATION The Company has two stock-based compensation plans under which shares were available for grant at March 31, 2023: (i) the Monster Beverage Corporation 2020 Omnibus Incentive Plan, including the Monster Beverage Corporation Deferred Compensation Plan as a sub-plan thereunder, and (ii) the Monster Beverage Corporation 2017 Compensation Plan for Non-Employee Directors as Amended and Restated on February 23, 2022, including the Monster Beverage Corporation Deferred Compensation Plan for Non-Employee Directors as a sub-plan thereunder. The Company recorded $16.1 million and $16.3 million of compensation expense relating to outstanding options, restricted stock units, performance share units and other share-based awards during the three-months ended March 31, 2023 and 2022, respectively. The tax benefit for tax deductions from non-qualified stock option exercises, disqualifying dispositions of incentive stock options and vesting of restricted stock units and performance share units for the three-months ended March 31, 2023 and 2022 was $25.9 million and $0.4 million, respectively. Stock Options Under the Company’s stock-based compensation plans, all stock options granted as of March 31, 2023 were granted at prices based on the fair value of the Company’s common stock on the date of grant. The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes-Merton option pricing formula with the assumptions included in the table below. The Company uses historical data to determine the exercise behavior, volatility and forfeiture rate of the options. The following weighted-average assumptions were used to estimate the fair value of options granted during: Three-Months Ended March 31, 2023 2022 Dividend yield 0.0 % 0.0 % Expected volatility 27.6 % 27.7 % Risk-free interest rate 3.7 % 2.1 % Expected term 6.3 years 6.0 years Expected Volatility Risk-Free Interest Rate Expected Term The following table summarizes the Company’s activities with respect to its stock option plans as follows: Weighted- Weighted- Average Average Remaining Number of Exercise Contractual Shares (in Price Per Term (in Aggregate Options thousands) Share years) Intrinsic Value Outstanding at January 1, 2023 29,710 $ 26.38 5.0 $ 724,651 Granted 01/01/23 - 03/31/23 3,962 $ 50.82 Exercised (3,129) $ 11.62 Cancelled or forfeited (73) $ 37.39 Outstanding at March 31, 2023 30,470 $ 31.04 5.8 $ 699,802 Vested and expected to vest in the future at March 31, 2023 29,381 $ 30.58 5.6 $ 688,532 Exercisable at March 31, 2023 19,309 $ 24.79 4.0 $ 564,190 The weighted-average grant-date fair value of options granted during the three-months ended March 31, 2023 and 2022 was $18.23 per share and $11.61 per share, respectively. The total intrinsic value of options exercised during the three-months ended March 31, 2023 and 2022 was $131.0 million and $4.9 million, respectively. Cash received from option exercises under all plans for the three-months ended March 31, 2023 and 2022 was $36.3 million and $4.5 million, respectively. At March 31, 2023, there was $125.2 million of total unrecognized compensation expense related to non-vested options granted to employees under the Company’s stock-based compensation plans. That cost is expected to be recognized over a weighted-average period of 3.6 years. Restricted Stock Units and Performance Share Units The cost of stock-based compensation for restricted stock units and performance share units is measured based on the closing fair market value of the Company’s common stock at the date of grant. In the event that the Company has the option and intent to settle a restricted stock unit or performance share unit in cash, the award is classified as a liability and revalued at each balance sheet date. The following table summarizes the Company’s activities with respect to non-vested restricted stock units and performance share units as follows: Weighted Number of Average Shares (in Grant-Date thousands) Fair Value Non-vested at January 1, 2023 2,026 $ 36.27 Granted 01/01/23 - 03/31/23 1 523 $ 48.49 Vested (576) $ 32.87 Forfeited/cancelled (4) $ 32.80 Non-vested at March 31, 2023 1,969 $ 40.52 1 The grant activity for performance share units is recorded based on the target performance level earning 100% of target performance share units. The actual number of performance share units earned could range from 0% to 200% of target depending on the achievement of pre-established performance goals. The weighted-average grant-date fair value of restricted stock units and/or performance share units granted during the three-months ended March 31, 2023 and 2022 was $50.83 and $36.73 per share, respectively. As of March 31, 2023, 1.8 million of restricted stock units and performance share units are expected to vest over their respective terms. At March 31, 2023, total unrecognized compensation expense relating to non-vested restricted stock units and performance share units was $53.6 million, which is expected to be recognized over a weighted-average period of 1.9 years. Other Share-Based Awards The Company has granted other share-based awards to certain employees that are payable in cash. These awards are classified as liabilities and are valued based on the fair value of the award at the grant date and are remeasured at each reporting date until settlement, with compensation expense being recognized in proportion to the completed requisite service period up until date of settlement. At March 31, 2023, other share-based awards outstanding included grants that vest over three years payable in the first quarters of 2024, 2025 and 2026. At March 31, 2023, there was $0.3 million of total unrecognized compensation expense related to nonvested other share-based awards granted to employees under the Company’s stock-based compensation plans. That cost is expected to be recognized over a weighted-average period of 1.4 years.

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2023
INCOME TAXES
INCOME TAXES	15. INCOME TAXES The following is a roll-forward of the Company’s total gross unrecognized tax benefits, not including interest and penalties, for the three-months ended March 31, 2023: Gross Unrecognized Tax Benefits Balance at December 31, 2022 $ 3,020 Additions for tax positions related to the current year — Additions for tax positions related to the prior years 738 Decreases for tax positions related to the prior years — Balance at March 31, 2023 $ 3,758 The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes in the Company’s condensed consolidated financial statements. As of March 31, 2023, the Company had approximately $0.6 million in accrued interest and penalties related to unrecognized tax benefits. If the Company were to prevail on all uncertain tax positions, the resultant impact on the Company’s effective tax rate would not be significant. It is expected that any change in the amount of unrecognized tax benefits within the next 12 months will not be significant. The Company is subject to U.S. federal income tax as well as to income tax in multiple state and foreign jurisdictions. The Company is in various stages of examination with certain states and certain foreign jurisdictions. The Company’s 2019 through 2021 U.S. federal income tax returns are subject to examination by the IRS. The Company’s state income tax returns are subject to examination for the 2018 through 2021 tax years.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
EARNINGS PER SHARE	Mar. 31, 2023
EARNINGS PER SHARE
EARNINGS PER SHARE	16. EARNINGS PER SHARE A reconciliation of the weighted-average shares used in the basic and diluted earnings per common share computations is presented below (in thousands): Three-Months Ended March 31, 2023 2022 Weighted-average shares outstanding: Basic 1,044,909 1,058,810 Dilutive 14,160 12,298 Diluted 1,059,069 1,071,108 For the three-months ended March 31, 2023 and 2022, options and awards outstanding totaling 2.6 million shares and 3.2 million shares, respectively, were excluded from the calculations as their effect would have been antidilutive.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
SEGMENT INFORMATION	Mar. 31, 2023
SEGMENT INFORMATION
SEGMENT INFORMATION	17. SEGMENT INFORMATION The Company has four operating and reportable ® TM TM The Company’s Monster Energy® Drinks segment primarily generates net operating revenues by selling ready-to-drink packaged drinks primarily to bottlers/distributors. In some cases, the Company sells ready-to-drink packaged drinks directly to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, drug stores, foodservice customers, value stores, e-commerce retailers and the military. The Company’s Strategic Brands segment primarily generates net operating revenues by selling “concentrates” and/or “beverage bases” to authorized bottling and canning operations. Such bottlers generally combine the concentrates and/or beverage bases with sweeteners, water and other ingredients to produce ready-to-drink packaged energy drinks. The ready-to-drink packaged energy drinks are then sold by such bottlers to other bottlers/distributors and to retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, foodservice customers, drug stores, value stores, e-commerce retailers and the military. To a lesser extent, the Strategic Brands segment generates net operating revenues by selling certain ready-to-drink packaged energy drinks to bottlers/distributors. Generally, the Monster Energy® Drinks segment generates higher per case net operating revenues, but lower per case gross profit margin percentages than the Strategic Brands segment. The Company’s Alcohol Brands segment primarily generates operating revenues by selling kegged and ready-to-drink canned beers, hard seltzers and FMBs primarily to beer distributors in the United States. Generally, the Alcohol Brands segment will have lower gross profit margin percentages than the Monster Energy® Drinks segment. Corporate and unallocated amounts that do not relate to a reportable segment have been allocated to “Corporate & Unallocated.” No asset information, other than goodwill and other intangible assets, has been provided in the Company’s reportable segments, as management does not measure or allocate such assets on a segment basis. The net revenues derived from the Company’s reportable segments and other financial information related thereto for the three-months ended March 31, 2023 and 2022 were as follows: Three-Months Ended March 31, 2023 2022 Net sales: Monster Energy® Drinks 1 $ 1,561,669 $ 1,404,847 Strategic Brands 86,357 92,593 Alcohol Brands 2 46,290 15,207 Other 4,614 5,927 Corporate and unallocated — — $ 1,698,930 $ 1,518,574 Three-Months Ended March 31, 2023 2022 Operating Income: Monster Energy® Drinks 1 $ 560,819 $ 454,563 Strategic Brands 51,771 57,195 Alcohol Brands 2 (6,883) (4,953) Other (293) 1,127 Corporate and unallocated (120,350) (108,443) $ 485,064 $ 399,489 Three-Months Ended March 31, 2023 2022 Income before tax: Monster Energy® Drinks 1 $ 561,674 $ 455,134 Strategic Brands 51,788 57,254 Alcohol Brands 2 (6,867) (5,606) Other (293) 1,137 Corporate and unallocated (108,742) (115,730) $ 497,560 $ 392,189 (1) Includes $9.9 million and $10.0 million for the three-months ended March 31, 2023 and 2022, respectively, related to the recognition of deferred revenue. (2) For the three-months ended March 31, 2022, effectively from February 17, 2022 to March 31, 2022. Three-Months Ended March 31, 2023 2022 Depreciation and amortization: Monster Energy® Drinks $ 8,989 $ 8,159 Strategic Brands 221 233 Alcohol Brands 4,051 2,283 Other 1,123 1,110 Corporate and unallocated 2,424 2,814 $ 16,808 $ 14,599 Corporate and unallocated expenses for the three-months ended March 31, 2023 include $80.3 million of payroll costs, of which $15.7 million was attributable to stock-based compensation expenses (see Note 14 “Stock-Based Compensation”), as well as $22.1 million attributable to professional service expenses, including accounting and legal costs, and $18.0 million of other operating expenses. Corporate and unallocated expenses for the three-months ended March 31, 2022 include $68.1 million of payroll costs, of which $16.2 million was attributable to stock-based compensation expenses (see Note 14 “Stock-Based Compensation”), as well as $26.4 million attributable to professional service expenses, including accounting and legal costs, and $13.9 million of other operating expenses. Coca-Cola Europacific Partners accounted for approximately 13% and 12% of the Company’s net sales for the three-months ended March 31, 2023 and 2022, respectively. Coca-Cola Consolidated, Inc. accounted for approximately 10% and 9% of the Company’s net sales for the three-months ended March 31, 2023 and 2022, respectively. Reyes Coca-Cola Bottling, LLC accounted for approximately 9% and 10% of the Company’s net sales for the three-months ended March 31, 2023 and 2022, respectively. Net sales to customers outside the United States amounted to $622.9 million and $553.4 million for the three-months ended March 31, 2023 and 2022, respectively. Such sales were approximately 37% and 36% of net sales for the three-months ended March 31, 2023 and 2022, respectively. Goodwill and other intangible assets for the Company’s reportable segments as of March 31, 2023 and December 31, 2022 were as follows: March 31, December 31, 2023 2022 Goodwill and other intangible assets: Monster Energy® Drinks $ 1,427,947 $ 1,424,212 Strategic Brands 980,360 979,896 Alcohol Brands 232,232 233,140 Other — 1,103 $ 2,640,539 $ 2,638,351

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2023
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	18. RELATED PARTY TRANSACTIONS TCCC controls approximately 19.5% of the voting interests of the Company. The TCCC Subsidiaries, the TCCC Related Parties and certain TCCC independent bottlers/distributors purchase and distribute the Company’s products in domestic and certain international markets. The Company also pays TCCC a commission based on certain sales within the TCCC distribution network. TCCC commissions, based on sales to the TCCC Subsidiaries and the TCCC Related Parties, were $15.7 million and $18.4 million for the three-months ended March 31, 2023 and 2022, respectively, and are included as a reduction to net sales. TCCC commissions, based on sales to TCCC independent bottlers/distributors, were $8.8 million and $11.0 million for the three-months ended March 31, 2023 and 2022, respectively, and are included in operating expenses. Net sales to the TCCC Subsidiaries for the three-months ended March 31, 2023 and 2022 were $35.1 million and $31.8 million, respectively. The Company also purchases concentrates from TCCC which are then sold to certain of the Company’s bottlers/distributors. Concentrate purchases from TCCC were $6.5 million and $8.5 million for the three-months ended March 31, 2023 and 2022, respectively. Certain TCCC Subsidiaries also contract manufacture certain of the Company’s energy drinks. Such contract manufacturing expenses were $7.4 million and $9.2 million for the three-months ended March 31, 2023 and 2022, respectively. Accounts receivable, accounts payable, accrued promotional allowances and accrued liabilities related to the TCCC Subsidiaries were as follows at: March 31, December 31, 2023 2022 Accounts receivable, net $ 128,697 $ 88,169 Accounts payable $ (36,703) $ (35,467) Accrued promotional allowances $ (10,833) $ (11,222) Accrued liabilities $ (23,569) $ (14,733) One director of the Company through certain trusts, and a family member of one director are the principal owners of a company that provides promotional materials to the Company. Expenses incurred with such company in connection with promotional materials purchased during both the three-months ended March 31, 2023 and 2022 was $1.1 million. During the three-months ended March 31, 2022, the Company occasionally chartered a private aircraft that is indirectly owned by Mr. Rodney C. Sacks, Co-Chief Executive Officer and Chairman of the Board of Directors. On certain occasions, Mr. Sacks was accompanied by guests and other Company personnel when using such aircraft for business travel. During the three-months ended March 31, 2022, the Company incurred costs of $0.08 million, an amount the Company believes is commensurate with market rates for comparable travel. No amounts were incurred by the Company during the three-months ended March 31, 2023. In December 2018, the Company and a director of the Company entered into a 50-50 partnership that purchased land, and real property thereon, in Kona, Hawaii for the purpose of producing coffee products. This partnership meets the definition of a Variable Interest Entity (“VIE”) for which the Company has determined that it is the primary beneficiary. Therefore, the Company consolidates the VIE in the accompanying condensed consolidated financial statements. The aggregate carrying values of the VIE’s assets and liabilities, after elimination of any intercompany transactions and balances, as well as the results of operations for all periods presented, are not material to the Company’s condensed consolidated financial statements.

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2023
BASIS OF PRESENTATION
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no changes in recently issued or adopted accounting pronouncements that would materially impact the Company from those disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022.

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	3 Months Ended
REVENUE RECOGNITION (Tables)	Mar. 31, 2023
REVENUE RECOGNITION
Schedule of disaggregation of revenue by geographical markets	Three-Months Ended March 31, 2023 Latin America U.S. and and Net Sales Canada EMEA 1 Asia Pacific Caribbean Total Monster Energy® Drinks $ 1,021,328 $ 277,111 $ 121,994 $ 141,235 $ 1,561,668 Strategic Brands 43,043 30,951 8,983 3,381 86,358 Alcohol Brands 46,290 — — — 46,290 Other 4,614 — — — 4,614 Total Net Sales $ 1,115,275 $ 308,062 $ 130,977 $ 144,616 $ 1,698,930 Three-Months Ended March 31, 2022 Latin America U.S. and and Net Sales Canada EMEA 1 Asia Pacific Caribbean Total Monster Energy® Drinks $ 925,680 $ 260,889 $ 110,556 $ 107,722 $ 1,404,847 Strategic Brands 53,051 30,176 6,662 2,704 92,593 Alcohol Brands 2 15,207 — — — 15,207 Other 5,927 — — — 5,927 Total Net Sales $ 999,865 $ 291,065 $ 117,218 $ 110,426 $ 1,518,574 1 Europe, Middle East and Africa (“EMEA”) 2 Effectively from February 17, 2022 to March 31, 2022

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2023
LEASES
Schedule of lease cost	Three-Months Three-Months Ended Ended March 31, March 31, 2023 2022 Operating lease cost $ 2,467 $ 1,694 Short-term lease cost 979 929 Variable lease cost 215 183 Finance leases: Amortization of ROU assets 123 127 Interest on lease liabilities 14 3 Finance lease cost 137 130 Total lease cost $ 3,798 $ 2,936
Schedule of supplemental cash flow information for leases	Three-Months Three-Months Ended March 31, Ended March 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash outflows from operating leases $ 2,391 $ 1,652 Operating cash outflows from finance leases 14 3 Financing cash outflows from finance leases 598 592 ROU assets obtained in exchange for lease obligations: Finance leases 2,227 832 Operating leases 313 13,197
Schedule of ROU assets for operating and finance leases	March 31, 2023 Real Estate Equipment Total Balance Sheet Location Operating leases $ 35,953 $ 256 $ 36,209 Other Assets Finance leases — 3,694 3,694 Property and Equipment, net December 31, 2022 Real Estate Equipment Total Balance Sheet Location Operating leases $ 37,682 $ 330 $ 38,012 Other Assets Finance leases — 1,598 1,598 Property and Equipment, net
Summary of operating and finance lease liabilities recognized in the condensed consolidated balance sheets	March 31, 2023 Operating Leases Finance Leases Accrued liabilities $ 7,642 $ 2,393 Other liabilities 27,958 33 Total $ 35,600 $ 2,426 December 31, 2022 Operating Leases Finance Leases Accrued liabilities $ 7,747 $ 757 Other liabilities 29,586 41 Total $ 37,333 $ 798
Schedule of weighted-average remaining lease terms and weighted-average discount rates	March 31, 2023 Operating Leases Finance Leases Weighted-average remaining lease term (years) 6.6 0.9 Weighted-average discount rate 3.5 % 5.7 % December 31, 2022 Operating Leases Finance Leases Weighted-average remaining lease term (years) 6.7 0.8 Weighted-average discount rate 3.4 % 3.6 %
Schedule of reconciliation of undiscounted future lease payments for operating and finance leases	Undiscounted Future Lease Payments Operating Leases Finance Leases 2023 (from April 1, 2023 to December 31, 2023) $ 6,626 $ 2,051 2024 7,469 423 2025 5,318 17 2026 4,181 2 2027 4,059 — 2028 and thereafter 12,352 — Total lease payments 40,005 2,493 Less imputed interest (4,405) (67) Total $ 35,600 $ 2,426

INVESTMENTS (Tables)

INVESTMENTS (Tables)	3 Months Ended
INVESTMENTS (Tables)	Mar. 31, 2023
INVESTMENTS
Summary of investments in available-for-sale	Continuous Continuous Gross Gross Unrealized Unrealized Unrealized Unrealized Loss Position Loss Position Amortized Holding Holding Fair less than 12 greater than 12 March 31, 2023 Cost Gains Losses Value Months Months Available-for-sale Short-term: Commercial paper $ 296,708 $ 1 $ 1 $ 296,708 $ 1 $ — Certificates of deposit 12,630 — — 12,630 — — Municipal securities 129,779 3 208 129,574 208 — U.S. government agency securities 129,605 35 332 129,308 332 — U.S. treasuries 744,403 156 2,180 742,379 2,180 — Corporate bonds 72,536 15 122 72,429 122 — Long-term: U.S. government agency securities 10,432 7 9 10,430 9 — U.S. treasuries 28,996 9 34 28,971 34 — Corporate bonds 1,753 — 2 1,751 2 — Total $ 1,426,842 $ 226 $ 2,888 $ 1,424,180 $ 2,888 $ — Continuous Continuous Gross Gross Unrealized Unrealized Unrealized Unrealized Loss Position Loss Position Amortized Holding Holding Fair less than 12 greater than 12 December 31, 2022 Cost Gains Losses Value Months Months Available-for-sale Short-term: Commercial paper $ 197,712 $ 1 $ 4 $ 197,709 $ 4 $ — Certificates of deposit 10,078 — — 10,078 — — Municipal securities 211,791 60 612 211,239 612 — U.S. government agency securities 109,697 3 715 108,985 715 — U.S. treasuries 838,825 17 4,539 834,303 4,539 — Long-term: U.S. government agency securities 2,016 — 3 2,013 3 — U.S. treasuries 53,215 20 71 53,164 71 — Variable rate demand notes 6,266 — — 6,266 — — Total $ 1,429,600 $ 101 $ 5,944 $ 1,423,757 $ 5,944 $ —
Summary of the underlying contractual maturities of investments	March 31, 2023 December 31, 2022 Amortized Cost Fair Value Amortized Cost Fair Value Less than 1 year: Commercial paper $ 296,708 $ 296,708 $ 197,712 $ 197,710 Municipal securities 129,779 129,574 211,791 211,239 U.S. government agency securities 129,605 129,308 109,697 108,985 Certificates of deposit 12,630 12,630 10,078 10,078 U.S. treasuries 744,403 742,379 838,825 834,302 Corporate bonds 72,536 72,429 — — Due 1 -10 years: U.S. treasuries 28,996 28,971 53,215 53,164 U.S. government agency securities 10,432 10,430 2,016 2,013 Variable rate demand notes — — 4,862 4,862 Corporate bonds 1,753 1,751 — — Due 11 - 20 years: Variable rate demand notes — — 1,404 1,404 Total $ 1,426,842 $ 1,424,180 $ 1,429,600 $ 1,423,757

FAIR VALUE OF CERTAIN FINANCI_2

FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2023
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Schedule of financial assets and liabilities recorded at fair value on a recurring basis	March 31, 2023 Level 1 Level 2 Level 3 Total Cash $ 886,785 $ — $ — $ 886,785 Money market funds 713,009 — — 713,009 Certificates of deposit — 41,050 — 41,050 Commercial paper — 310,774 — 310,774 Corporate bonds — 74,180 — 74,180 Municipal securities — 129,574 — 129,574 U.S. government agency securities — 151,678 — 151,678 U.S. treasuries — 789,790 — 789,790 Foreign currency derivatives — 77 — 77 Total $ 1,599,794 $ 1,497,123 $ — $ 3,096,917 Amounts included in: Cash and cash equivalents $ 1,599,794 $ 72,866 $ — $ 1,672,660 Short-term investments — 1,383,028 — 1,383,028 Accounts receivable, net — 382 — 382 Investments — 41,152 — 41,152 Accrued liabilities — (305) — (305) Total $ 1,599,794 $ 1,497,123 $ — $ 3,096,917 December 31, 2022 Level 1 Level 2 Level 3 Total Cash $ 1,132,509 $ — $ — $ 1,132,509 Money market funds 121,444 — — 121,444 Certificates of deposit — 10,078 — 10,078 Commercial paper — 225,067 — 225,067 Variable rate demand notes — 6,266 — 6,266 Municipal securities — 213,798 — 213,798 U.S. government agency securities — 113,357 — 113,357 U.S. treasuries — 908,379 — 908,379 Foreign currency derivatives — (3,733) — (3,733) Total $ 1,253,953 $ 1,473,212 $ — $ 2,727,165 Amounts included in: Cash and cash equivalents $ 1,253,953 $ 53,188 $ — $ 1,307,141 Short-term investments — 1,362,314 — 1,362,314 Accounts receivable, net — 965 — 965 Investments — 61,443 — 61,443 Accrued liabilities — (4,698) — (4,698) Total $ 1,253,953 $ 1,473,212 $ — $ 2,727,165

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	Mar. 31, 2023
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Schedule of notional amount and fair value of all outstanding foreign currency derivative instruments in the consolidated balance sheets	March 31, 2023 Derivatives not designated as hedging instruments under Notional Fair ASC 815 Amount Value Balance Sheet Location Assets: Foreign currency exchange contracts: Receive CAD/pay USD $ 44,220 $ 168 Accounts receivable, net Receive USD/pay CLP 56,610 159 Accounts receivable, net Receive USD/pay COP 15,493 37 Accounts receivable, net Receive RSD/pay USD 4,560 18 Accounts receivable, net Liabilities: Foreign currency exchange contracts: Receive USD/pay EUR $ 48,377 $ (105) Accrued liabilities Receive USD/pay ZAR 4,117 (97) Accrued liabilities Receive USD/pay NZD 6,906 (32) Accrued liabilities Receive USD/pay CNY 18,642 (31) Accrued liabilities Receive USD/pay GBP 14,292 (24) Accrued liabilities Receive SGD/pay USD 24,977 (10) Accrued liabilities Receive AUD/pay USD 2,884 (6) Accrued liabilities December 31, 2022 Derivatives not designated as hedging instruments under Notional Fair ASC 815 Amount Value Balance Sheet Location Assets: Foreign currency exchange contracts: Receive SGD/pay USD $ 15,883 $ 398 Accounts receivable, net Receive CAD/pay USD 34,467 106 Accounts receivable, net Receive USD/pay MXN 12,430 88 Accounts receivable, net Receive USD/pay GBP 43,551 118 Accounts receivable, net Receive RSD/pay USD 3,513 112 Accounts receivable, net Receive GBP/pay USD 34,716 100 Accounts receivable, net Receive GBP/pay USD 4,321 31 Accounts receivable, net Receive USD/pay COP 11,570 12 Accounts receivable, net Liabilities: Foreign currency exchange contracts: Receive USD/pay CLP $ 43,071 $ (2,549) Accrued liabilities Receive USD/pay EUR 40,592 (1,377) Accrued liabilities Receive USD/pay CNY 12,460 (362) Accrued liabilities Receive USD/pay EUR 34,714 (295) Accrued liabilities Receive USD/pay NZD 4,093 (91) Accrued liabilities Receive USD/pay AUD 1,271 (23) Accrued liabilities Receive USD/pay ZAR 3,124 (1) Accrued liabilities
Schedule of net loss on derivative instruments in the consolidated statements of income	Amount of gain (loss) recognized in income on derivatives Three-months ended Derivatives not designated as Location of gain (loss) hedging instruments under recognized in income on March 31, March 31, ASC 815 derivatives 2023 2022 Foreign currency exchange contracts Interest and other income (expense), net $ (7,852) $ (4,019)

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
INVENTORIES (Tables)	Mar. 31, 2023
INVENTORIES
Schedule of inventories	March 31, December 31, 2023 2022 Raw materials $ 421,914 $ 467,392 Work in process 1,615 1,688 Finished goods 483,194 466,551 $ 906,723 $ 935,631

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	3 Months Ended
PROPERTY AND EQUIPMENT, NET (Tables)	Mar. 31, 2023
PROPERTY AND EQUIPMENT, NET
Schedule of property and equipment	March 31, December 31, 2023 2022 Land $ 139,922 $ 139,798 Leasehold improvements 31,753 31,327 Furniture and fixtures 9,335 9,286 Office and computer equipment 22,532 22,386 Computer software 5,310 5,906 Equipment 255,991 244,739 Buildings 164,821 163,885 Vehicles 51,675 49,175 Assets under construction 111,283 83,553 792,622 750,055 Less: accumulated depreciation and amortization (246,700) (233,158) $ 545,922 $ 516,897

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Mar. 31, 2023
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of goodwill	Monster Energy® Strategic Alcohol Drinks Brands Brands Other Total Balance at December 31, 2022 $ 693,644 $ 637,999 $ 86,298 $ — $ 1,417,941 Acquisitions — — — — — Balance at March 31, 2023 $ 693,644 $ 637,999 $ 86,298 $ — $ 1,417,941 Monster Energy® Strategic Alcohol Drinks Brands Brands Other Total Balance at December 31, 2021 $ 693,644 $ 637,999 $ — $ — $ 1,331,643 Acquisitions — — 80,285 — 80,285 Balance at March 31, 2022 $ 693,644 $ 637,999 $ 80,285 $ — $ 1,411,928
Schedule of intangible assets	March 31, December 31, 2023 2022 Amortizing intangibles $ 121,378 $ 121,378 Accumulated amortization (70,800) (68,790) 50,578 52,588 Non-amortizing intangibles 1,172,020 1,167,822 $ 1,222,598 $ 1,220,410
Schedule of future estimated amortization expense related to amortizing intangibles	2023 (from April 1, 2023 to December 31, 2023) $ 2,736 2024 3,648 2025 3,647 2026 3,647 2027 3,646 2028 and thereafter 33,254 $ 50,578

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	Mar. 31, 2023
ACCUMULATED OTHER COMPREHENSIVE LOSS
Schedule of components of accumulated other comprehensive loss	Unrealized Currency Gains (Losses) Translation on Available-for- Losses Sale Securities Total Balance at December 31, 2022 $ (153,230) $ (5,843) $ (159,073) Other comprehensive income before reclassifications 7,981 3,181 11,162 Net current-period other comprehensive income 7,981 3,181 11,162 Balance at March 31, 2023 $ (145,249) $ (2,662) $ (147,911) Unrealized Currency Gains (Losses) Translation on Available-for- Losses Sale Securities Total Balance at December 31, 2021 $ (68,209) $ (956) $ (69,165) Other comprehensive (loss) income before reclassifications 1,079 (4,059) (2,980) Net current-period other comprehensive (loss) income 1,079 (4,059) (2,980) Balance at March 31, 2022 $ (67,130) $ (5,015) $ (72,145)

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
STOCK-BASED COMPENSATION (Tables)	Mar. 31, 2023
STOCK-BASED COMPENSATION
Schedule of weighted-average assumptions used to estimate the fair value of options granted	Three-Months Ended March 31, 2023 2022 Dividend yield 0.0 % 0.0 % Expected volatility 27.6 % 27.7 % Risk-free interest rate 3.7 % 2.1 % Expected term 6.3 years 6.0 years
Summary of activities with respect to its stock option plans	Weighted- Weighted- Average Average Remaining Number of Exercise Contractual Shares (in Price Per Term (in Aggregate Options thousands) Share years) Intrinsic Value Outstanding at January 1, 2023 29,710 $ 26.38 5.0 $ 724,651 Granted 01/01/23 - 03/31/23 3,962 $ 50.82 Exercised (3,129) $ 11.62 Cancelled or forfeited (73) $ 37.39 Outstanding at March 31, 2023 30,470 $ 31.04 5.8 $ 699,802 Vested and expected to vest in the future at March 31, 2023 29,381 $ 30.58 5.6 $ 688,532 Exercisable at March 31, 2023 19,309 $ 24.79 4.0 $ 564,190
Summary of activities with respect to non-vested restricted stock units and performance share units	Weighted Number of Average Shares (in Grant-Date thousands) Fair Value Non-vested at January 1, 2023 2,026 $ 36.27 Granted 01/01/23 - 03/31/23 1 523 $ 48.49 Vested (576) $ 32.87 Forfeited/cancelled (4) $ 32.80 Non-vested at March 31, 2023 1,969 $ 40.52 1 The grant activity for performance share units is recorded based on the target performance level earning 100% of target performance share units. The actual number of performance share units earned could range from 0% to 200% of target depending on the achievement of pre-established performance goals.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
INCOME TAXES (Tables)	Mar. 31, 2023
INCOME TAXES
Schedule of roll-forward of the total gross unrecognized tax benefits, not including interest and penalties	Gross Unrecognized Tax Benefits Balance at December 31, 2022 $ 3,020 Additions for tax positions related to the current year — Additions for tax positions related to the prior years 738 Decreases for tax positions related to the prior years — Balance at March 31, 2023 $ 3,758

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Mar. 31, 2023
EARNINGS PER SHARE
Schedule of reconciliation of the weighted average shares used in the basic and diluted earnings per common share	A reconciliation of the weighted-average shares used in the basic and diluted earnings per common share computations is presented below (in thousands): Three-Months Ended March 31, 2023 2022 Weighted-average shares outstanding: Basic 1,044,909 1,058,810 Dilutive 14,160 12,298 Diluted 1,059,069 1,071,108

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
SEGMENT INFORMATION (Tables)	Mar. 31, 2023
SEGMENT INFORMATION
Schedule of net revenues and other financial information by segment	Three-Months Ended March 31, 2023 2022 Net sales: Monster Energy® Drinks 1 $ 1,561,669 $ 1,404,847 Strategic Brands 86,357 92,593 Alcohol Brands 2 46,290 15,207 Other 4,614 5,927 Corporate and unallocated — — $ 1,698,930 $ 1,518,574 Three-Months Ended March 31, 2023 2022 Operating Income: Monster Energy® Drinks 1 $ 560,819 $ 454,563 Strategic Brands 51,771 57,195 Alcohol Brands 2 (6,883) (4,953) Other (293) 1,127 Corporate and unallocated (120,350) (108,443) $ 485,064 $ 399,489 Three-Months Ended March 31, 2023 2022 Income before tax: Monster Energy® Drinks 1 $ 561,674 $ 455,134 Strategic Brands 51,788 57,254 Alcohol Brands 2 (6,867) (5,606) Other (293) 1,137 Corporate and unallocated (108,742) (115,730) $ 497,560 $ 392,189 (1) Includes $9.9 million and $10.0 million for the three-months ended March 31, 2023 and 2022, respectively, related to the recognition of deferred revenue. (2) For the three-months ended March 31, 2022, effectively from February 17, 2022 to March 31, 2022. Three-Months Ended March 31, 2023 2022 Depreciation and amortization: Monster Energy® Drinks $ 8,989 $ 8,159 Strategic Brands 221 233 Alcohol Brands 4,051 2,283 Other 1,123 1,110 Corporate and unallocated 2,424 2,814 $ 16,808 $ 14,599
Schedule of goodwill and other intangible assets for the reportable segments	March 31, December 31, 2023 2022 Goodwill and other intangible assets: Monster Energy® Drinks $ 1,427,947 $ 1,424,212 Strategic Brands 980,360 979,896 Alcohol Brands 232,232 233,140 Other — 1,103 $ 2,640,539 $ 2,638,351

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
RELATED PARTY TRANSACTIONS (Tables)	Mar. 31, 2023
RELATED PARTY TRANSACTIONS
Schedule of related party transactions	March 31, December 31, 2023 2022 Accounts receivable, net $ 128,697 $ 88,169 Accounts payable $ (36,703) $ (35,467) Accrued promotional allowances $ (10,833) $ (11,222) Accrued liabilities $ (23,569) $ (14,733)

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) shares in Millions, $ in Millions	Mar. 10, 2023 USD ($) shares	Feb. 28, 2023
Stock split ratio		2
Stock dividend (in percent)		100%
Treasury stock [Member]
Number of shares retired \| shares	170
Carrying value of shares retired \| $	$ 4,690

REVENUE RECOGNITION - (Details)

REVENUE RECOGNITION - (Details)	3 Months Ended
REVENUE RECOGNITION - (Details)	Mar. 31, 2023 segment
REVENUE RECOGNITION
Number of operating segments	4
Number of reportable segments	4
Distribution agreement, revenue recognition period	20 years

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Total Net Sales	$ 1,698,930	$ 1,518,574
U.S. and Canada
Total Net Sales	1,115,275	999,865
EMEA
Total Net Sales	308,062	291,065
Asia Pacific
Total Net Sales	130,977	117,218
Latin America and Caribbean
Total Net Sales	144,616	110,426
Monster Energy Drinks
Total Net Sales	1,561,668	1,404,847
Monster Energy Drinks \| U.S. and Canada
Total Net Sales	1,021,328	925,680
Monster Energy Drinks \| EMEA
Total Net Sales	277,111	260,889
Monster Energy Drinks \| Asia Pacific
Total Net Sales	121,994	110,556
Monster Energy Drinks \| Latin America and Caribbean
Total Net Sales	141,235	107,722
Strategic Brands
Total Net Sales	86,358	92,593
Strategic Brands \| U.S. and Canada
Total Net Sales	43,043	53,051
Strategic Brands \| EMEA
Total Net Sales	30,951	30,176
Strategic Brands \| Asia Pacific
Total Net Sales	8,983	6,662
Strategic Brands \| Latin America and Caribbean
Total Net Sales	3,381	2,704
Other
Total Net Sales	4,614	5,927
Other \| U.S. and Canada
Total Net Sales	4,614	5,927
Other \| EMEA
Total Net Sales	0	0
Other \| Asia Pacific
Total Net Sales	0	0
Other \| Latin America and Caribbean
Total Net Sales	0	0
Alcohol Brands
Total Net Sales	46,290	15,207
Alcohol Brands \| U.S. and Canada
Total Net Sales	46,290	15,207
Alcohol Brands \| EMEA
Total Net Sales	0	0
Alcohol Brands \| Asia Pacific
Total Net Sales	0	0
Alcohol Brands \| Latin America and Caribbean
Total Net Sales	$ 0	$ 0

REVENUE RECOGNITION - Contract

REVENUE RECOGNITION - Contract Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Contract Liabilities
Deferred revenue	$ 264.2		$ 267.1
Deferred revenue recognized in net sales	$ 9.9	$ 10

LEASES - Lease Terms (Details)

LEASES - Lease Terms (Details)	3 Months Ended
LEASES - Lease Terms (Details)	Mar. 31, 2023
LEASES
Operating leases, lease term (in years)	4 years
Operating leases, options to extend	true
Finance leases, options to extend	true
Operating leases, options to terminate	true
Finance leases, options to terminate	true
Minimum
LEASES
Operating leases, lease term (in years)	1 year
Finance leases, lease term (in years)	1 year
Maximum
LEASES
Operating leases, lease term (in years)	11 years
Finance leases, lease term (in years)	12 years
Operating leases, renewal lease term (in years)	5 years
Finance leases, renewal lease term (in years)	5 years
Operating leases, termination period (in years)	1 year
Finance leases, termination period (in years)	1 year

LEASES - Lease Cost (Details)

LEASES - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
LEASES - Lease Cost (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
LEASES
Operating lease cost	$ 2,467	$ 1,694
Short-term lease cost	979	929
Variable lease cost	215	183
Finance leases:
Amortization of ROU assets	123	127
Interest on lease liabilities	14	3
Finance lease cost	137	130
Total lease cost	$ 3,798	$ 2,936

LEASES - Supplemental cash flow

LEASES - Supplemental cash flow information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$ 2,391	$ 1,652
Operating cash outflows from finance leases	14	3
Financing cash outflows from finance leases	598	592
ROU assets obtained in exchange for lease obligations:
Finance leases	2,227	832
Operating leases	$ 313	$ 13,197

LEASES - ROU assets for operati

LEASES - ROU assets for operating and finance leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
LEASES
Operating leases	$ 36,209	$ 38,012
Finance leases	$ 3,694	$ 1,598
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Real Estate
LEASES
Operating leases	$ 35,953	$ 37,682
Finance leases	0	0
Equipment
LEASES
Operating leases	256	330
Finance leases	$ 3,694	$ 1,598

LEASES - Operating and finance

LEASES - Operating and finance leases liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
LEASES
Operating Leases	$ 35,600	$ 37,333
Finance Leases	2,426	798
Accrued liabilities
LEASES
Operating Leases	7,642	7,747
Finance Leases	$ 2,393	$ 757
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Other Liabilities
LEASES
Operating Leases	$ 27,958	$ 29,586
Finance Leases	$ 33	$ 41
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

LEASES - Weighted-average remai

LEASES - Weighted-average remaining lease term and weighted-average discount rate (Details)	Mar. 31, 2023	Dec. 31, 2022
LEASES
Weighted-average remaining lease term (years), Operating Leases	6 years 7 months 6 days	6 years 8 months 12 days
Weighted-average remaining lease term (years), Finance Leases	10 months 24 days	9 months 18 days
Weighted-average discount rate, Operating Leases	3.50%	3.40%
Weighted-average discount rate, Finance Leases	5.70%	3.60%

LEASES - Undiscounted future le

LEASES - Undiscounted future lease payments for operating and finance leases (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Operating Leases
2023	$ 6,626
2024	7,469
2025	5,318
2026	4,181
2027	4,059
2027 and thereafter	12,352
Total lease payments	40,005
Less imputed interest	(4,405)
Operating Lease, Liability, Total	35,600	$ 37,333
Finance Leases
2023	2,051
2024	423
2025	17
2026	2
2027 and thereafter	0
Total lease payments	2,493
Less imputed interest	(67)
Finance Lease, Liability, Total	2,426	$ 798
Additional operating leases	$ 1,100
Operating leases, lease term (in years)	4 years

INVESTMENTS (Details)

INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Available-for-sale
Amortized Cost	$ 1,426,842	$ 1,429,600
Gross Unrealized Holding Gains	226	101
Gross Unrealized Holding Losses	2,888	5,944
Fair Value	1,424,180	1,423,757
Continuous Unrealized Loss Position less than 12 Months	2,888	5,944
Short-term \| Commercial paper
Available-for-sale
Amortized Cost	296,708	197,712
Gross Unrealized Holding Gains	1	1
Gross Unrealized Holding Losses	1	4
Fair Value	296,708	197,709
Continuous Unrealized Loss Position less than 12 Months	1	4
Short-term \| Certificates of deposit
Available-for-sale
Amortized Cost	12,630	10,078
Fair Value	12,630	10,078
Short-term \| Municipal securities
Available-for-sale
Amortized Cost	129,779	211,791
Gross Unrealized Holding Gains	3	60
Gross Unrealized Holding Losses	208	612
Fair Value	129,574	211,239
Continuous Unrealized Loss Position less than 12 Months	208	612
Short-term \| Corporate bonds
Available-for-sale
Amortized Cost	72,536
Gross Unrealized Holding Gains	15
Gross Unrealized Holding Losses	122
Fair Value	72,429
Continuous Unrealized Loss Position less than 12 Months	122
Short-term \| U.S. government agency securities
Available-for-sale
Amortized Cost	129,605	109,697
Gross Unrealized Holding Gains	35	3
Gross Unrealized Holding Losses	332	715
Fair Value	129,308	108,985
Continuous Unrealized Loss Position less than 12 Months	332	715
Short-term \| U.S. treasuries
Available-for-sale
Amortized Cost	744,403	838,825
Gross Unrealized Holding Gains	156	17
Gross Unrealized Holding Losses	2,180	4,539
Fair Value	742,379	834,303
Continuous Unrealized Loss Position less than 12 Months	2,180	4,539
Long-term \| Corporate bonds
Available-for-sale
Amortized Cost	1,753
Gross Unrealized Holding Losses	2
Fair Value	1,751
Continuous Unrealized Loss Position less than 12 Months	2
Long-term \| U.S. government agency securities
Available-for-sale
Amortized Cost	10,432	2,016
Gross Unrealized Holding Gains	7
Gross Unrealized Holding Losses	9	3
Fair Value	10,430	2,013
Continuous Unrealized Loss Position less than 12 Months	9	3
Long-term \| U.S. treasuries
Available-for-sale
Amortized Cost	28,996	53,215
Gross Unrealized Holding Gains	9	20
Gross Unrealized Holding Losses	34	71
Fair Value	28,971	53,164
Continuous Unrealized Loss Position less than 12 Months	$ 34	71
Long-term \| Variable rate demand notes
Available-for-sale
Amortized Cost		6,266
Fair Value		$ 6,266

INVESTMENTS - Maturity Period (

INVESTMENTS - Maturity Period (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
INVESTMENTS
Amortized Cost	$ 1,426,842	$ 1,429,600
Fair Value	1,424,180	1,423,757
Commercial paper \| Less than 1 year
INVESTMENTS
Amortized Cost	296,708	197,712
Fair Value	296,708	197,710
Municipal securities \| Less than 1 year
INVESTMENTS
Amortized Cost	129,779	211,791
Fair Value	129,574	211,239
Corporate bonds \| Less than 1 year
INVESTMENTS
Amortized Cost	72,536
Fair Value	72,429
Corporate bonds \| Due 1 - 10 years
INVESTMENTS
Amortized Cost	1,753
Fair Value	1,751
U.S. government agency securities \| Less than 1 year
INVESTMENTS
Amortized Cost	129,605	109,697
Fair Value	129,308	108,985
U.S. government agency securities \| Due 1 - 10 years
INVESTMENTS
Amortized Cost	10,432	2,016
Fair Value	10,430	2,013
Certificates of deposit \| Less than 1 year
INVESTMENTS
Amortized Cost	12,630	10,078
Fair Value	12,630	10,078
U.S. treasuries \| Less than 1 year
INVESTMENTS
Amortized Cost	744,403	838,825
Fair Value	742,379	834,302
U.S. treasuries \| Due 1 - 10 years
INVESTMENTS
Amortized Cost	28,996	53,215
Fair Value	$ 28,971	53,164
Variable rate demand notes \| Due 1 - 10 years
INVESTMENTS
Amortized Cost		4,862
Fair Value		4,862
Variable rate demand notes \| Due 11 - 20 years
INVESTMENTS
Amortized Cost		1,404
Fair Value		$ 1,404

FAIR VALUE OF CERTAIN FINANCI_3

FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Cash and cash equivalents	$ 1,672,660	$ 1,307,141
Short-term investments	1,383,028	1,362,314
Investments	41,152	61,443
Asset transfers between Level 1 and Level 2 measurements	0	0
Total fair value
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Cash	886,785	1,132,509
Foreign currency derivatives	77	(3,733)
Assets measured at fair value	3,096,917	2,727,165
Cash and cash equivalents	1,672,660	1,307,141
Short-term investments	1,383,028	1,362,314
Accounts receivable, net	382	965
Investments	41,152	61,443
Accrued liabilities	(305)	(4,698)
Total fair value \| Money market funds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	713,009	121,444
Total fair value \| Certificates of deposit
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	41,050	10,078
Total fair value \| Commercial paper
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	310,774	225,067
Total fair value \| Variable rate demand notes
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value		6,266
Total fair value \| Municipal securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	129,574	213,798
Total fair value \| Corporate bonds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	74,180
Total fair value \| U.S. government agency securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	151,678	113,357
Total fair value \| U.S. treasuries
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	789,790	908,379
Level 1
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Cash	886,785	1,132,509
Foreign currency derivatives	0	0
Assets measured at fair value	1,599,794	1,253,953
Cash and cash equivalents	1,599,794	1,253,953
Short-term investments	0	0
Accounts receivable, net	0	0
Investments	0	0
Accrued liabilities	0	0
Level 1 \| Money market funds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	713,009	121,444
Level 1 \| Certificates of deposit
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 1 \| Commercial paper
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 1 \| Municipal securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 1 \| Corporate bonds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0
Level 1 \| U.S. government agency securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 1 \| U.S. treasuries
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 2
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Cash	0	0
Foreign currency derivatives	77	(3,733)
Assets measured at fair value	1,497,123	1,473,212
Cash and cash equivalents	72,866	53,188
Short-term investments	1,383,028	1,362,314
Accounts receivable, net	382	965
Investments	41,152	61,443
Accrued liabilities	(305)	(4,698)
Level 2 \| Money market funds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 2 \| Certificates of deposit
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	41,050	10,078
Level 2 \| Commercial paper
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	310,774	225,067
Level 2 \| Variable rate demand notes
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value		6,266
Level 2 \| Municipal securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	129,574	213,798
Level 2 \| Corporate bonds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	74,180
Level 2 \| U.S. government agency securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	151,678	113,357
Level 2 \| U.S. treasuries
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	789,790	908,379
Level 3
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Cash	0	0
Foreign currency derivatives	0	0
Assets measured at fair value	0	0
Cash and cash equivalents	0	0
Short-term investments	0	0
Accounts receivable, net	0	0
Investments	0	0
Accrued liabilities	0	0
Level 3 \| Money market funds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 3 \| Certificates of deposit
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 3 \| Commercial paper
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 3 \| Municipal securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 3 \| Corporate bonds
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0
Level 3 \| U.S. government agency securities
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	0	0
Level 3 \| U.S. treasuries
FAIR VALUE OF CERTAIN FINANCIAL ASSETS AND LIABILITIES
Assets measured at fair value	$ 0	$ 0

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Notional amount and fair value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Foreign currency exchange contracts \| Maximum
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Term of derivative instrument	1 month
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive CAD Pay USD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets	$ 44,220	$ 34,467
Fair value assets	168	106
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive USD/pay CLP
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets	56,610
Fair value assets	159
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive USD/pay COP
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets	15,493	11,570
Fair value assets	37	12
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive RSD/pay USD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets	4,560	3,513
Fair value assets	18	112
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive USD/pay GBP
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets		43,551
Fair value assets		118
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive SGD/pay USD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets		15,883
Fair value assets		398
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive USD/pay MXN
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets		12,430
Fair value assets		88
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive GBP/pay USD 1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets		34,716
Fair value assets		100
Derivatives not designated as hedging instruments \| Accounts receivables, net \| Receive GBP/pay USD 2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount assets		4,321
Fair value assets		31
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay CLP
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities		43,071
Fair value liabilities		(2,549)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay EUR
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	18,642
Fair value liabilities	(31)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay ZAR
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	4,117	3,124
Fair value liabilities	(97)	(1)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay NZD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	6,906	4,093
Fair value liabilities	(32)	(91)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay CNY
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities		12,460
Fair value liabilities		(362)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay GBP
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	14,292
Fair value liabilities	(24)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive SGD/pay USD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	24,977
Fair value liabilities	(10)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive AUD/pay USD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	2,884
Fair value liabilities	(6)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay EUR 1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities	48,377	40,592
Fair value liabilities	$ (105)	(1,377)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay EUR 2
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities		34,714
Fair value liabilities		(295)
Derivatives not designated as hedging instruments \| Accrued liabilities \| Receive USD/pay AUD
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Notional amount liabilities		1,271
Fair value liabilities		$ (23)

DERIVATIVE INSTRUMENTS AND HE_4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Non hedging designation (Details) - Derivatives not designated as hedging instruments - Foreign currency exchange contracts - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
Amount of loss recognized in income on derivatives	$ 7,852	$ 4,019
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income (Expense)	Other Nonoperating Income (Expense)

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
INVENTORIES
Raw materials	$ 421,914	$ 467,392
Work in process	1,615	1,688
Finished goods	483,194	466,551
Inventories	$ 906,723	$ 935,631

PROPERTY AND EQUIPMENT, NET (De

PROPERTY AND EQUIPMENT, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	$ 792,622		$ 750,055
Less: accumulated depreciation and amortization	(246,700)		(233,158)
Property and equipment, net	545,922		516,897
Total depreciation and amortization expense	14,800	$ 13,100
Land
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	139,922		139,798
Leasehold improvements
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	31,753		31,327
Furniture and fixtures
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	9,335		9,286
Office and computer equipment
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	22,532		22,386
Computer software
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	5,310		5,906
Equipment
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	255,991		244,739
Buildings
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	164,821		163,885
Vehicles
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	51,675		49,175
Assets under construction
PROPERTY AND EQUIPMENT, NET
Property and equipment, gross	$ 111,283		$ 83,553

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill, beginning balance	$ 1,417,941	$ 1,331,643
Acquisitions	0	80,285
Goodwill, ending balance	1,417,941	1,411,928
Monster Energy Drinks
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill, beginning balance	693,644	693,644
Acquisitions	0	0
Goodwill, ending balance	693,644	693,644
Strategic Brands
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill, beginning balance	637,999	637,999
Acquisitions	0	0
Goodwill, ending balance	637,999	637,999
Alcohol Brands
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill, beginning balance	86,298	0
Acquisitions	0	80,285
Goodwill, ending balance	86,298	80,285
Other
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill, beginning balance	0	0
Acquisitions	0	0
Goodwill, ending balance	$ 0	$ 0

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Intangible assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
GOODWILL AND OTHER INTANGIBLE ASSETS
Amortizing intangibles	$ 121,378		$ 121,378
Accumulated amortization	(70,800)		(68,790)
Amortizing intangibles, net	50,578		52,588
Non-amortizing intangibles	1,172,020		1,167,822
Intangibles, net	1,222,598		$ 1,220,410
Amortization expense	$ 2,000	$ 1,500
Minimum
GOODWILL AND OTHER INTANGIBLE ASSETS
Useful life of intangible assets	5 years
Maximum
GOODWILL AND OTHER INTANGIBLE ASSETS
Useful life of intangible assets	15 years

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS - Amortization expense (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Future estimated amortization expense related to amortizing intangibles
2023 (from April 1, 2023 to December 31, 2023)	$ 2,736
2024	3,648
2025	3,647
2026	3,647
2027	3,646
2028 and thereafter	33,254
Amortizing intangibles, net	$ 50,578	$ 52,588

DISTRIBUTION AGREEMENTS (Detail

DISTRIBUTION AGREEMENTS (Details) - USD ($) $ in Millions	3 Months Ended
DISTRIBUTION AGREEMENTS (Details) - USD ($) $ in Millions	Mar. 31, 2023	Mar. 31, 2022
DISTRIBUTION AGREEMENTS
Distribution agreement (in years)	20 years
Revenue recognized	$ 9.9	$ 10

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Purchase Commitments (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
COMMITMENTS AND CONTINGENCIES
Aggregate contractual obligations	$ 380.6
Line of credit
COMMITMENTS AND CONTINGENCIES
Amount outstanding	$ 1.1
Interest rate (as a percent)	5.50%
Maximum borrowing capacity	$ 15
Raw material items
COMMITMENTS AND CONTINGENCIES
Purchase commitments	$ 336.8
Obligation term ( in years)	1 year

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Litigation (Details) - USD ($) $ in Millions			1 Months Ended
	Feb. 14, 2023	Sep. 29, 2022	Apr. 30, 2022	Mar. 31, 2023	Dec. 31, 2022
COMMITMENTS AND CONTINGENCIES
Loss contingencies				$ 0.3	$ 0
Amount awarded		$ 293
Amount awarded to the company			$ 175
Percentage of royalty awarded by the court on sales			5%
First royalty payment	$ 3.6

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023		Mar. 31, 2022
Components of accumulated other comprehensive loss:
Balance at the beginning of the period	$ (159,073)	[1]	$ 69,165
Other comprehensive income before reclassifications	11,162		(2,980)
Net current-period other comprehensive income	11,162		(2,980)
Balance at the end of the period	(147,911)	[1]	72,145
Currency Translation Losses
Components of accumulated other comprehensive loss:
Balance at the beginning of the period	(153,230)		(68,209)
Other comprehensive income before reclassifications	7,981		1,079
Net current-period other comprehensive income	7,981		1,079
Balance at the end of the period	(145,249)		(67,130)
Unrealized Losses on Available-for-Sale Securities
Components of accumulated other comprehensive loss:
Balance at the beginning of the period	(5,843)		(956)
Other comprehensive income before reclassifications	3,181		(4,059)
Net current-period other comprehensive income	3,181		(4,059)
Balance at the end of the period	$ (2,662)		$ (5,015)

[1] 1 Stock Split - On February 28, 2023, the Company announced a two-for-one stock split of its common stock to be effected in the form of a 100% stock dividend. The stock dividend was issued on March 27, 2023 (the “Stock Split”). The accompanying condensed consolidated financial statements and notes thereto have been retroactively updated to reflect the Stock Split. See Note 1 for additional information.

TREASURY STOCK (Details)

TREASURY STOCK (Details) - USD ($) $ in Thousands			3 Months Ended
TREASURY STOCK (Details) - USD ($) $ in Thousands	May 05, 2023	Mar. 10, 2023	Mar. 31, 2023	Mar. 31, 2022	Nov. 02, 2022	Jun. 14, 2022
Treasury Stock Purchase
Repurchase price of stock	$ 682,800
Amount of shares purchased			$ 90,378	$ 12,187
Number of shares repurchased of common stock from employees in lieu of cash or withholding taxes due			1,700,000
Common stock [Member]
Treasury Stock Purchase
Cash payment for repurchase of common stock from employees in lieu of cash or withholding taxes due			$ 90,400
March 2020 Repurchase Plan
Treasury Stock Purchase
Repurchase price of stock			$ 4,690,000
March 2020 Repurchase Plan \| Maximum
Treasury Stock Purchase
Common stock repurchased (in shares)		170,000,000
June 2022 Repurchase Plan
Treasury Stock Purchase
Repurchase price of stock	182,800
June 2022 Repurchase Plan \| Maximum
Treasury Stock Purchase
Share repurchase program, authorized amount						$ 500,000
November 2022 Repurchase Plan
Treasury Stock Purchase
Share repurchase program, authorized amount					$ 500,000
Repurchase price of stock	$ 500,000
November 2022 Repurchase Plan \| Common stock [Member]
Treasury Stock Purchase
Common stock repurchased (in shares)			0

STOCK-BASED COMPENSATION - Plan

STOCK-BASED COMPENSATION - Plans (Details) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) plan shares	Mar. 31, 2022 USD ($)
STOCK-BASED COMPENSATION
Stock-based compensation plans \| plan	2
Compensation expense on share-based plans	$ 16.1	$ 16.3
Excess tax benefit realized for tax deductions from non-qualified stock option exercises and disqualifying dispositions of incentive stock options	$ 25.9	$ 0.4
Granted 01/01/23 - 03/31/23
STOCK-BASED COMPENSATION
Common stock granted, net of cancellations (in shares) \| shares	3,962

STOCK-BASED COMPENSATION - Fair

STOCK-BASED COMPENSATION - Fair Value Assumptions (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Stock options, Number of Shares
Balance at the beginning of the period (in shares)	29,710
Exercised (in shares)	(3,129)
Cancelled or forfeited (in shares)	(73)
Balance at the end of the period (in shares)	30,470		29,710
Vested and expected to vest in the future at the end of the period (in shares)	29,381
Exercisable at the end of the period (in shares)	19,309
Stock options, Weighted-Average Exercise Price Per Share
Balance at the beginning of the period (in dollars per share)	$ 26.38
Exercised (in dollars per share)	11.62
Cancelled or forfeited (in dollars per share)	37.39
Balance at the end of the period (in dollars per share)	31.04		$ 26.38
Vested and expected to vest in the future at the end of the period (in dollars per share)	30.58
Exercisable at the end of the period (in dollars per share)	$ 24.79
Weighted-Average Remaining Contractual Term (in years)
Weighted-Average Remaining Contractual Terms (in years)	5 years 9 months 18 days		5 years
Vested and expected to vest in the future at the end of the period	5 years 7 months 6 days
Exercisable at the end of the period	4 years
Aggregate Intrinsic Value
Balance at the beginning of the period	$ 724,651
Balance at the end of the period	699,802		$ 724,651
Vested and expected to vest in the future at the end of the period	688,532
Exercisable at the end of the period	$ 564,190
Granted 01/01/23 - 03/31/23
Stock options, Weighted-Average Exercise Price Per Share
Granted (in dollars per share)	$ 50.82
Employee Stock Option [Member]
Weighted-average assumptions used to estimate the fair value of options granted
Dividend yield (as a percent)	0%	0%
Expected volatility (as a percent)	27.60%	27.70%
Risk-free interest rate (as a percent)	3.70%	2.10%
Expected term	6 years 3 months 18 days	6 years

STOCK-BASED COMPENSATION - Equi

STOCK-BASED COMPENSATION - Equity Awards (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
STOCK-BASED COMPENSATION
Stock units expected to vest (in shares)	29,381
Total employee and non-employee share-based compensation expense included in income, before income tax	$ 16,051	$ 16,332
Employee Stock Option [Member]
STOCK-BASED COMPENSATION
Weighted-average grant-date fair value of options granted (in dollars per share)	$ 18.23	$ 11.61
Total intrinsic value of options exercised	$ 131,000	$ 4,900
Cash received from option exercises	36,300	$ 4,500
Total unrecognized compensation expense related to non-vested shares granted to employees	$ 125,200
Cost expected to be recognized over a weighted-average period	3 years 7 months 6 days
Restricted Stock Units [Member]
STOCK-BASED COMPENSATION
Weighted-average grant-date fair value of options granted (in dollars per share)	$ 50.83	$ 36.73
Restricted Stock Units And Performance Share Units [Member]
STOCK-BASED COMPENSATION
Total unrecognized compensation expense related to non-vested shares granted to employees	$ 53,600
Cost expected to be recognized over a weighted-average period	1 year 10 months 24 days
Stock units expected to vest (in shares)	1,800
Number of Shares
Non-vested at the beginning of the period (in shares)	2,026
Vested (in shares)	(576)
Forfeited/cancelled (in shares)	(4)
Non-vested at the end of the period (in shares)	1,969
Weighted Average Grant-Date Fair Value
Non-vested at the beginning of the period (in dollars per share)	$ 36.27
Vested (in dollars per share)	32.87
Forfeited/cancelled (in dollars per share)	32.80
Non-vested at the end of the period (in dollars per share)	$ 40.52
Restricted Stock Units And Performance Share Units [Member] \| Granted 01/01/23 - 03/31/23
Number of Shares
Granted (in shares)	523
Weighted Average Grant-Date Fair Value
Granted (in dollars per share)	$ 48.49
Performance Share Units [Member]
STOCK-BASED COMPENSATION
Percentage of target performance	100%
Performance Share Units [Member] \| Maximum [Member]
STOCK-BASED COMPENSATION
Percentage of target performance	200%
Performance Share Units [Member] \| Minimum [Member]
STOCK-BASED COMPENSATION
Percentage of target performance	0%
Other Share-based Awards [Member]
STOCK-BASED COMPENSATION
Total unrecognized compensation expense related to non-vested shares granted to employees	$ 300
Cost expected to be recognized over a weighted-average period	1 year 4 months 24 days

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefit Rollforward (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Gross Unrecognized Tax Benefits , roll forward
Balance at the beginning of the period	$ 3,020
Additions for tax positions related to the current year	0
Additions for tax positions related to the prior years	738
Decreases for tax positions related to the prior years	0
Balance at the end of the period	3,758
Accrued interest and penalties related to unrecognized tax benefits	$ 600

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands		3 Months Ended
EARNINGS PER SHARE (Details) - shares shares in Thousands		Mar. 31, 2023	Mar. 31, 2022
Weighted-average shares outstanding:
Basic	[1]	1,044,909	1,058,810
Dilutive securities		14,160	12,298
Diluted	[1]	1,059,069	1,071,108
Totaling options and awards outstanding (in shares)		2,600	3,200

[1] Stock Split - The accompanying condensed consolidated financial statements and notes thereto have been retroactively updated to reflect the Stock Split. See Note 1 for additional information.

SEGMENT INFORMATION - Net Reven

SEGMENT INFORMATION - Net Revenues (Details) $ in Thousands	3 Months Ended
SEGMENT INFORMATION - Net Revenues (Details) $ in Thousands	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)
SEGMENT INFORMATION
Number of reportable segments \| segment	4
Number of operating segments \| segment	4
Net Sales	$ 1,698,930	$ 1,518,574
Operating Income:	485,064	399,489
Income before tax	497,560	392,189
Recognition of deferred revenue	9,900	10,000
Corporate and Unallocated
SEGMENT INFORMATION
Net Sales	0	0
Operating Income:	(120,350)	(108,443)
Income before tax	(108,742)	(115,730)
Monster Energy Drinks
SEGMENT INFORMATION
Net Sales	1,561,668	1,404,847
Monster Energy Drinks \| Operating segment
SEGMENT INFORMATION
Net Sales	1,561,669	1,404,847
Operating Income:	560,819	454,563
Income before tax	561,674	455,134
Recognition of deferred revenue	9,900	10,000
Strategic Brands
SEGMENT INFORMATION
Net Sales	86,358	92,593
Strategic Brands \| Operating segment
SEGMENT INFORMATION
Net Sales	86,357	92,593
Operating Income:	51,771	57,195
Income before tax	51,788	57,254
Alcohol Brands
SEGMENT INFORMATION
Net Sales	46,290	15,207
Alcohol Brands \| Operating segment
SEGMENT INFORMATION
Net Sales	46,290	15,207
Operating Income:	(6,883)	(4,953)
Income before tax	(6,867)	(5,606)
Other
SEGMENT INFORMATION
Net Sales	4,614	5,927
Other \| Operating segment
SEGMENT INFORMATION
Net Sales	4,614	5,927
Operating Income:	(293)	1,127
Income before tax	$ (293)	$ 1,137

SEGMENT INFORMATION - Depreciat

SEGMENT INFORMATION - Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
SEGMENT INFORMATION
Depreciation and amortization	$ 16,808	$ 14,599
Corporate and Unallocated
SEGMENT INFORMATION
Depreciation and amortization	2,424	2,814
Monster Energy Drinks \| Operating segment
SEGMENT INFORMATION
Depreciation and amortization	8,989	8,159
Strategic Brands \| Operating segment
SEGMENT INFORMATION
Depreciation and amortization	221	233
Alcohol Brands \| Operating segment
SEGMENT INFORMATION
Depreciation and amortization	4,051	2,283
Other \| Operating segment
SEGMENT INFORMATION
Depreciation and amortization	$ 1,123	$ 1,110

SEGMENT INFORMATION - Expenses

SEGMENT INFORMATION - Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
SEGMENT INFORMATION
Stock-based compensation expense	$ 16.1	$ 16.3
Corporate and Unallocated
SEGMENT INFORMATION
Payroll costs	80.3	68.1
Stock-based compensation expense	15.7	16.2
Professional service expenses	22.1	26.4
Other operating expenses	$ 18	$ 13.9

SEGMENT INFORMATION - Concentra

SEGMENT INFORMATION - Concentration Risk (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
SEGMENT INFORMATION
Net Sales	$ 1,698,930	$ 1,518,574
Sales \| Outside United States
SEGMENT INFORMATION
Net Sales	$ 622,900	$ 553,400
Sales \| Customer concentration \| Outside United States
SEGMENT INFORMATION
Percentage of net sales	37%	36%
Coca-Cola Europacific Partners \| Sales \| Customer concentration
SEGMENT INFORMATION
Percentage of net sales	13%	12%
Coca-Cola Consolidated, Inc \| Sales \| Customer concentration
SEGMENT INFORMATION
Percentage of net sales	10%	9%
Reyes Coca-Cola Bottling, LLC \| Sales \| Customer concentration
SEGMENT INFORMATION
Percentage of net sales	9%	10%

SEGMENT INFORMATION - Goodwill

SEGMENT INFORMATION - Goodwill and other intangible assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
SEGMENT INFORMATION
Goodwill and other intangible assets	$ 2,640,539	$ 2,638,351
Monster Energy Drinks \| Operating segment
SEGMENT INFORMATION
Goodwill and other intangible assets	1,427,947	1,424,212
Strategic Brands \| Operating segment
SEGMENT INFORMATION
Goodwill and other intangible assets	980,360	979,896
Alcohol Brands \| Operating segment
SEGMENT INFORMATION
Goodwill and other intangible assets	$ 232,232	233,140
Other \| Operating segment
SEGMENT INFORMATION
Goodwill and other intangible assets		$ 1,103

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	3 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Thousands	Mar. 31, 2023 USD ($) director	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Coca Cola Company
RELATED PARTY TRANSACTIONS
Net sales	$ 35,100	$ 31,800
Purchases from related party	$ 6,500	8,500
Coca Cola Company \| Voting Interests
RELATED PARTY TRANSACTIONS
Related Party Ownership Interest (as a percent)	19.50%
TCCC Subsidiaries and TCCC Related parties
RELATED PARTY TRANSACTIONS
Commission expenses	$ 15,700	18,400
TCCC Subsidiaries and TCCC Related parties \| Monster Energy Drinks
RELATED PARTY TRANSACTIONS
Contract manufacturing expenses	7,400	9,200
TCCC Related Parties and TCCC Independent Bottlers \| Operating expense
RELATED PARTY TRANSACTIONS
Commission expenses	8,800	11,000
TCCC Subsidiaries
RELATED PARTY TRANSACTIONS
Accounts receivable, net	128,697		$ 88,169
Accounts payable	(36,703)		(35,467)
Accrued promotional allowances	(10,833)		(11,222)
Accrued liabilities	$ (23,569)		$ (14,733)
Principal Owners
RELATED PARTY TRANSACTIONS
Number of directors \| director	1
Expenses incurred in connection with materials or services provided by a related party	$ 1,100	1,100
Business Travelling Expenses	$ 0	$ 80