in the 52-week period ended december 26 , 2020 , the company recorded covid-19 related pre-tax reductions in net revenue and increases in other costs that total $ 16.0 million , of which $ 1.8 million was recorded in the fourth quarter . the total amount consists of a $ 3.3 million reduction in net revenue for estimated keg returns from distributors and retailers and $ 12.7 million of other covid-19 related direct costs , of which $ 8.2 million are recorded in cost of goods sold and $ 4.5 million are recorded in operating expenses . in addition to these direct financial impacts , covid-19 related safety measures resulted in a reduction of brewery productivity . this has shifted more volume to third-party breweries , which increased production costs and negatively impacted gross margins . the company will continue to assess and manage this situation and will provide a further update in each quarterly earnings release , to the extent that the effects of the covid-19 pandemic are then known more clearly . outlook year-to-date depletions reported to the company for the 6 weeks ended february 6 , 2021 are estimated by the company to have increased approximately 53 % from the comparable weeks in 2020. the company is targeting non-gaap earnings per diluted share for 2021 of between $ 20.00 and $ 24.00 , excluding the impact of asu 2016-09 , stock compensation ( topic 718 ) , improvements to employee share-based payment accounting , but actual results could vary significantly from this target . the company is forecasting 2021 depletions and shipments percentage increases of between 35 % and 45 % . the company is targeting national price increases of between 1 % and 2 % . full-year 2021 gross margins are currently expected to be between 45 % and 47 % , a decrease from the previously communicated estimate of between 46 % and 48 % . the company intends to increase advertising , promotional and selling expenses by between $ 120 million and $ 140 million for the full year 2021 , a decrease from the previously communicated estimate of between $ 130 million and $ 150 million , which does not include any increases in freight costs for the shipment of products to its distributors . the company intends to increase its investment in its brands in 2021 commensurate with the 29 opportunities for growth that it sees , but there is no guarantee that such increased investments will result in increased volumes . the company estimates a full-year 202 1 non-gaap effective tax rate of approximately 2 6 .5 % , excluding the impact of asu 2016-09. this effective tax rate estimate also , excludes the potential impact of changes to current federal income tax laws and regulations that could occur later in 2021. non-gaap earnings per diluted share and non-gaap effective tax rate are not defined terms under u.s. generally accepted accounting principles ( “ gaap ” ) . these non-gaap measures should not be considered in isolation or as a substitute for diluted earnings per share and effective tax rate data prepared in accordance with gaap , and may not be comparable to calculations of similarly titled measures by other companies . management believes these non-gaap measures provide meaningful and useful information to investors and analysts regarding our outlook and facilitate period to period comparisons of our forecasted financial performance . non-gaap earnings per diluted share and non-gaap effective tax rate exclude the potential impact of asu 2016-09 , which could be significant and will depend largely upon unpredictable future events outside the company 's control , including the timing and value realized upon exercise of stock options versus the fair value of those options when granted . therefore , because of the uncertainty and variability of the impact of asu 2016-09 , the company is unable to provide , without unreasonable effort , a reconciliation of these non-gaap measures on a forward-looking basis . the company is continuing to evaluate 2021 capital expenditures . its current estimates are between $ 300 million and $ 400 million , consisting mostly of continued investments in capacity and efficiency improvements at the company 's breweries . the actual total amount spent on 2021 capital expenditures may well be different from these estimates . based on information currently available , the company believes that its capacity requirements for 2021 can be covered by its company-owned breweries and contracted capacity at third-party brewers . results of operations year ended december 26 , 2020 compared to year ended december 28 , 2019 replace_table_token_4_th net revenue . net revenue increased by $ 486.6 million , or 38.9 % , to $ 1,736.4 million for the year ended december 26 , 2020 , as compared to $ 1,249.8 million for the year ended december 28 , 2019 , due primarily to increased shipments . volume . total shipment volume of 7,368,000 barrels for the year ended december 26 , 2020 increased by 38.8 % over 2019 levels of 5,307,000 barrels , due primarily to increases in shipments of truly hard seltzer and twisted tea and the addition of the dogfish head brands , partially offset by decreases in its samuel adamas and angry orchard brands . 30 depletions , or sales by distributors to retailers , of the company 's products for the year ended december 28 , 2019 increased by approximately 3 7 % compared to the prior year , primarily due to increases in depletions of truly hard seltzer and twisted tea brands and the addition of the dogfish head brands , partially offset by decreases in its samuel adams and angry orchard brands . net revenue per barrel . story_separator_special_tag historically , the cost of actual stale beer returns has been in line with established reserves , however , the cost could differ materially from the estimated reserve which would impact revenue . as of december 26 , 2020 and december 28 , 2019 , the stale beer reserve was $ 3.1 million and $ 1.8 million , respectively . customer programs and incentives are a common practice in the alcohol beverage industry . amounts paid in connection with customer programs and incentives are recorded as reductions to net revenue or as advertising , promotional and selling expenses , based on the nature of the expenditure . customer incentives and other payments made to distributors are primarily based upon performance of certain marketing and advertising activities . depending on applicable state laws and regulations , these activities promoting the company 's products may include , but are not limited to point-of-sale and merchandise placement , samples , product displays , promotional programs at retail locations and meals , travel and entertainment . amounts paid to customers in connection with these programs that were recorded as reductions to net revenue or as advertising , promotional and selling expenses totaled $ 85.0 million , $ 75.2 million and $ 55.5 million in fiscal year 2020 , 2019 and 2018 , respectively . estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred . customer promotional discount programs are entered into with distributors for certain periods of time . amounts paid to distributors in connection with these programs in fiscal years 2020 , 2019 and 2018 were $ 59.3 million , $ 43.9 million and $ 34.5 million , respectively . the reimbursements for discounts to distributors are recorded as reductions to net revenue . the agreed-upon discount rates are applied to certain distributors ' sales to retailers , based on volume metrics , in order to determine the total discounted amount . the computation of the discount allowance requires that management make certain estimates and assumptions that affect the timing and amounts of revenue and liabilities recorded . actual promotional discounts owed and paid have historically been in line with allowances recorded by the company , however , the amounts could differ from the estimated allowance . customer incentives and other payments are made primarily to distributors based upon performance of certain marketing and advertising activities . depending on applicable state laws and regulations , these activities promoting the company 's products may include , but are not limited to point-of-sale and merchandise placement , samples , product displays , promotional programs at retail locations and meals , travel and entertainment . amounts paid to customers in connection with these programs in fiscal years 2020 , 2019 and 2018 were $ 25.7 million , $ 31.2 million and $ 21.0 million , respectively . in fiscal 2020 , 2019 and 2018 , the company recorded certain of these costs in the total amount of $ 23.1 million , $ 21.6 million , and $ 13.9 million , respectively , as reductions to net revenue . costs recognized in net revenues include , but are not limited to , promotional discounts , sales incentives and certain other promotional activities . costs recognized in advertising , promotional and selling expenses include point of sale materials , samples and media advertising expenditures in local markets . these costs are recorded as incurred , generally when invoices are received ; however certain estimates are required at period end . estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred . in connection with its preparation of financial statements and other financial reporting , management is required to make certain estimates and assumptions regarding the amount , timing and classification of expenditures resulting from these activities . actual expenditures incurred could differ from management 's estimates and assumptions . 35 stock-based compensation the company accounts for share-based awards in accordance with asc topic 718 , compensation – stock compensation ( “ asc 718 ” ) , which generally requires recognition of share-based compensation costs in financial statements based on fair value . compensation cost is recognized over the period during which an employee is required to provide services in exchange for the award ( the requisite service period ) . the amount of compensation cost recognized in the consolidated statements of comprehensive income is based on the awards ultimately expected to vest , and therefore , reduced for estimated forfeitures . stock-based compensation was $ 15.3 million , $ 12.3 million and $ 10.0 million in fiscal years 2020 , 2019 and 2018 , respectively . as permitted by asc 718 , the company elected to use a lattice model , such as the trinomial option-pricing model , to estimate the fair values of stock options . all option-pricing models require the input of subjective assumptions . these assumptions include the estimated volatility of the company 's common stock price over the expected term , the expected dividend rate , the estimated post-vesting forfeiture rate , the risk-free interest rate and expected exercise behavior . see note n of the notes to consolidated financial statements for further discussion of the application of the option-pricing models . in addition , an estimated pre-vesting forfeiture rate is applied in the recognition of the compensation charge . periodically , the company grants performance-based stock options , related to which it only recognizes compensation expense if it is probable that performance targets will be met . consequently , at the end of each reporting period , the company estimates whether it is probable that performance targets will be met . changes in the subjective assumptions and estimates can materially affect the amount of stock-based compensation expense recognized in the consolidated statements of comprehensive income . business environment the alcoholic beverage industry

liquidity and capital resources cash increased to $ 163.3 million as of december 26 , 2020 from $ 36.7 million as of december 28 , 2019 , reflecting cash provided by operating activities and proceeds from exercise of stock options and sale of investment shares , partially offset by purchases of property , plant and equipment . cash provided by or used in operating activities consists of net income , adjusted for certain non-cash items , such as depreciation and amortization , stock-based compensation expense and related excess tax benefit , other non-cash items included in operating results , and changes in operating assets and liabilities , such as accounts receivable , inventory , accounts payable and accrued expenses . cash provided by operating activities increased from $ 178.2 million in 2019 to $ 253.3 million in 2020 principally as a result of increases in shipments and operating income , partially offset by higher investments in working capital , particularly higher inventory and third party brewery prepayments due under production agreements to support increased demand . cash used in investing activities decreased from $ 258.8 million in 2019 to $ 139.1 million in 2020 , primarily as a result of the investment in dogfish head in fiscal 2019. investing activities in 2020 primarily consisted of capital investments made mostly in the company 's breweries to increase capacity , drive efficiencies and cost reductions , and support product innovation . cash provided by financing activities was $ 12.3 million during 2020 , as compared to $ 8.9 million provided by financing activities during 2019. the $ 3.4 million increase in cash provided by financing activities in 2020 from 2019 is primarily due to higher proceeds from exercise of stock options and sale of investment shares .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources cash increased to $ 163.3 million as of december 26 , 2020 from $ 36.7 million as of december 28 , 2019 , reflecting cash provided by operating activities and proceeds from exercise of stock options and sale of investment shares , partially offset by purchases of property , plant and equipment . cash provided by or used in operating activities consists of net income , adjusted for certain non-cash items , such as depreciation and amortization , stock-based compensation expense and related excess tax benefit , other non-cash items included in operating results , and changes in operating assets and liabilities , such as accounts receivable , inventory , accounts payable and accrued expenses . cash provided by operating activities increased from $ 178.2 million in 2019 to $ 253.3 million in 2020 principally as a result of increases in shipments and operating income , partially offset by higher investments in working capital , particularly higher inventory and third party brewery prepayments due under production agreements to support increased demand . cash used in investing activities decreased from $ 258.8 million in 2019 to $ 139.1 million in 2020 , primarily as a result of the investment in dogfish head in fiscal 2019. investing activities in 2020 primarily consisted of capital investments made mostly in the company 's breweries to increase capacity , drive efficiencies and cost reductions , and support product innovation . cash provided by financing activities was $ 12.3 million during 2020 , as compared to $ 8.9 million provided by financing activities during 2019. the $ 3.4 million increase in cash provided by financing activities in 2020 from 2019 is primarily due to higher proceeds from exercise of stock options and sale of investment shares .
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 Suspicious Activity Report : in the 52-week period ended december 26 , 2020 , the company recorded covid-19 related pre-tax reductions in net revenue and increases in other costs that total $ 16.0 million , of which $ 1.8 million was recorded in the fourth quarter . the total amount consists of a $ 3.3 million reduction in net revenue for estimated keg returns from distributors and retailers and $ 12.7 million of other covid-19 related direct costs , of which $ 8.2 million are recorded in cost of goods sold and $ 4.5 million are recorded in operating expenses . in addition to these direct financial impacts , covid-19 related safety measures resulted in a reduction of brewery productivity . this has shifted more volume to third-party breweries , which increased production costs and negatively impacted gross margins . the company will continue to assess and manage this situation and will provide a further update in each quarterly earnings release , to the extent that the effects of the covid-19 pandemic are then known more clearly . outlook year-to-date depletions reported to the company for the 6 weeks ended february 6 , 2021 are estimated by the company to have increased approximately 53 % from the comparable weeks in 2020. the company is targeting non-gaap earnings per diluted share for 2021 of between $ 20.00 and $ 24.00 , excluding the impact of asu 2016-09 , stock compensation ( topic 718 ) , improvements to employee share-based payment accounting , but actual results could vary significantly from this target . the company is forecasting 2021 depletions and shipments percentage increases of between 35 % and 45 % . the company is targeting national price increases of between 1 % and 2 % . full-year 2021 gross margins are currently expected to be between 45 % and 47 % , a decrease from the previously communicated estimate of between 46 % and 48 % . the company intends to increase advertising , promotional and selling expenses by between $ 120 million and $ 140 million for the full year 2021 , a decrease from the previously communicated estimate of between $ 130 million and $ 150 million , which does not include any increases in freight costs for the shipment of products to its distributors . the company intends to increase its investment in its brands in 2021 commensurate with the 29 opportunities for growth that it sees , but there is no guarantee that such increased investments will result in increased volumes . the company estimates a full-year 202 1 non-gaap effective tax rate of approximately 2 6 .5 % , excluding the impact of asu 2016-09. this effective tax rate estimate also , excludes the potential impact of changes to current federal income tax laws and regulations that could occur later in 2021. non-gaap earnings per diluted share and non-gaap effective tax rate are not defined terms under u.s. generally accepted accounting principles ( “ gaap ” ) . these non-gaap measures should not be considered in isolation or as a substitute for diluted earnings per share and effective tax rate data prepared in accordance with gaap , and may not be comparable to calculations of similarly titled measures by other companies . management believes these non-gaap measures provide meaningful and useful information to investors and analysts regarding our outlook and facilitate period to period comparisons of our forecasted financial performance . non-gaap earnings per diluted share and non-gaap effective tax rate exclude the potential impact of asu 2016-09 , which could be significant and will depend largely upon unpredictable future events outside the company 's control , including the timing and value realized upon exercise of stock options versus the fair value of those options when granted . therefore , because of the uncertainty and variability of the impact of asu 2016-09 , the company is unable to provide , without unreasonable effort , a reconciliation of these non-gaap measures on a forward-looking basis . the company is continuing to evaluate 2021 capital expenditures . its current estimates are between $ 300 million and $ 400 million , consisting mostly of continued investments in capacity and efficiency improvements at the company 's breweries . the actual total amount spent on 2021 capital expenditures may well be different from these estimates . based on information currently available , the company believes that its capacity requirements for 2021 can be covered by its company-owned breweries and contracted capacity at third-party brewers . results of operations year ended december 26 , 2020 compared to year ended december 28 , 2019 replace_table_token_4_th net revenue . net revenue increased by $ 486.6 million , or 38.9 % , to $ 1,736.4 million for the year ended december 26 , 2020 , as compared to $ 1,249.8 million for the year ended december 28 , 2019 , due primarily to increased shipments . volume . total shipment volume of 7,368,000 barrels for the year ended december 26 , 2020 increased by 38.8 % over 2019 levels of 5,307,000 barrels , due primarily to increases in shipments of truly hard seltzer and twisted tea and the addition of the dogfish head brands , partially offset by decreases in its samuel adamas and angry orchard brands . 30 depletions , or sales by distributors to retailers , of the company 's products for the year ended december 28 , 2019 increased by approximately 3 7 % compared to the prior year , primarily due to increases in depletions of truly hard seltzer and twisted tea brands and the addition of the dogfish head brands , partially offset by decreases in its samuel adams and angry orchard brands . net revenue per barrel . story_separator_special_tag historically , the cost of actual stale beer returns has been in line with established reserves , however , the cost could differ materially from the estimated reserve which would impact revenue . as of december 26 , 2020 and december 28 , 2019 , the stale beer reserve was $ 3.1 million and $ 1.8 million , respectively . customer programs and incentives are a common practice in the alcohol beverage industry . amounts paid in connection with customer programs and incentives are recorded as reductions to net revenue or as advertising , promotional and selling expenses , based on the nature of the expenditure . customer incentives and other payments made to distributors are primarily based upon performance of certain marketing and advertising activities . depending on applicable state laws and regulations , these activities promoting the company 's products may include , but are not limited to point-of-sale and merchandise placement , samples , product displays , promotional programs at retail locations and meals , travel and entertainment . amounts paid to customers in connection with these programs that were recorded as reductions to net revenue or as advertising , promotional and selling expenses totaled $ 85.0 million , $ 75.2 million and $ 55.5 million in fiscal year 2020 , 2019 and 2018 , respectively . estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred . customer promotional discount programs are entered into with distributors for certain periods of time . amounts paid to distributors in connection with these programs in fiscal years 2020 , 2019 and 2018 were $ 59.3 million , $ 43.9 million and $ 34.5 million , respectively . the reimbursements for discounts to distributors are recorded as reductions to net revenue . the agreed-upon discount rates are applied to certain distributors ' sales to retailers , based on volume metrics , in order to determine the total discounted amount . the computation of the discount allowance requires that management make certain estimates and assumptions that affect the timing and amounts of revenue and liabilities recorded . actual promotional discounts owed and paid have historically been in line with allowances recorded by the company , however , the amounts could differ from the estimated allowance . customer incentives and other payments are made primarily to distributors based upon performance of certain marketing and advertising activities . depending on applicable state laws and regulations , these activities promoting the company 's products may include , but are not limited to point-of-sale and merchandise placement , samples , product displays , promotional programs at retail locations and meals , travel and entertainment . amounts paid to customers in connection with these programs in fiscal years 2020 , 2019 and 2018 were $ 25.7 million , $ 31.2 million and $ 21.0 million , respectively . in fiscal 2020 , 2019 and 2018 , the company recorded certain of these costs in the total amount of $ 23.1 million , $ 21.6 million , and $ 13.9 million , respectively , as reductions to net revenue . costs recognized in net revenues include , but are not limited to , promotional discounts , sales incentives and certain other promotional activities . costs recognized in advertising , promotional and selling expenses include point of sale materials , samples and media advertising expenditures in local markets . these costs are recorded as incurred , generally when invoices are received ; however certain estimates are required at period end . estimates are based on historical and projected experience for each type of program or customer and have historically been in line with actual costs incurred . in connection with its preparation of financial statements and other financial reporting , management is required to make certain estimates and assumptions regarding the amount , timing and classification of expenditures resulting from these activities . actual expenditures incurred could differ from management 's estimates and assumptions . 35 stock-based compensation the company accounts for share-based awards in accordance with asc topic 718 , compensation – stock compensation ( “ asc 718 ” ) , which generally requires recognition of share-based compensation costs in financial statements based on fair value . compensation cost is recognized over the period during which an employee is required to provide services in exchange for the award ( the requisite service period ) . the amount of compensation cost recognized in the consolidated statements of comprehensive income is based on the awards ultimately expected to vest , and therefore , reduced for estimated forfeitures . stock-based compensation was $ 15.3 million , $ 12.3 million and $ 10.0 million in fiscal years 2020 , 2019 and 2018 , respectively . as permitted by asc 718 , the company elected to use a lattice model , such as the trinomial option-pricing model , to estimate the fair values of stock options . all option-pricing models require the input of subjective assumptions . these assumptions include the estimated volatility of the company 's common stock price over the expected term , the expected dividend rate , the estimated post-vesting forfeiture rate , the risk-free interest rate and expected exercise behavior . see note n of the notes to consolidated financial statements for further discussion of the application of the option-pricing models . in addition , an estimated pre-vesting forfeiture rate is applied in the recognition of the compensation charge . periodically , the company grants performance-based stock options , related to which it only recognizes compensation expense if it is probable that performance targets will be met . consequently , at the end of each reporting period , the company estimates whether it is probable that performance targets will be met . changes in the subjective assumptions and estimates can materially affect the amount of stock-based compensation expense recognized in the consolidated statements of comprehensive income . business environment the alcoholic beverage industry

