Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Monster Beverage Corp., adjusted current assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current assets	5,588,996)	4,764,897)	4,682,110)	3,140,955)	2,316,309)
Adjustments
Add: Allowance for doubtful accounts, sales returns and cash discounts	7,638)	10,460)	4,676)	1,878)	2,045)
After Adjustment
Adjusted current assets	5,596,634)	4,775,357)	4,686,786)	3,142,833)	2,318,354)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Monster Beverage Corp., adjusted total assets

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total assets	9,686,522)	8,293,105)	7,804,784)	6,202,716)	5,150,352)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Allowance for doubtful accounts, sales returns and cash discounts	7,638)	10,460)	4,676)	1,878)	2,045)
Less: Deferred tax assets²	175,003)	177,039)	225,221)	241,650)	84,777)
After Adjustment
Adjusted total assets	9,519,157)	8,126,526)	7,584,239)	5,962,944)	5,067,620)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Monster Beverage Corp., adjusted current liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current liabilities	1,161,689)	1,001,978)	965,076)	749,988)	661,097)
Adjustments
Less: Current deferred revenue	41,914)	43,311)	42,530)	45,429)	44,237)
After Adjustment
Adjusted current liabilities	1,119,775)	958,667)	922,546)	704,559)	616,860)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Monster Beverage Corp., adjusted total liabilities

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Total liabilities	1,457,778)	1,268,064)	1,237,833)	1,041,856)	979,071)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Less: Deferred tax liabilities²	28,896)	—)	—)	—)	—)
Less: Deferred revenue	246,165)	267,111)	285,779)	309,865)	331,706)
After Adjustment
Adjusted total liabilities	1,182,717)	1,000,953)	952,054)	731,991)	647,365)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Monster Beverage Corp., adjusted stockholders’ equity

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Stockholders’ equity	8,228,744)	7,025,041)	6,566,951)	5,160,860)	4,171,281)
Adjustments
Less: Net deferred tax assets (liabilities)¹	146,107)	177,039)	225,221)	241,650)	84,777)
Add: Allowance for doubtful accounts, sales returns and cash discounts	7,638)	10,460)	4,676)	1,878)	2,045)
Add: Deferred revenue	246,165)	267,111)	285,779)	309,865)	331,706)
After Adjustment
Adjusted stockholders’ equity	8,336,440)	7,125,573)	6,632,185)	5,230,953)	4,420,255)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Net deferred tax assets (liabilities). See details »

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Monster Beverage Corp., adjusted capitalization table

US$ in thousands

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Current finance lease liabilities	6,449)	757)	960)	799)	1,485)
Noncurrent finance lease liabilities	19)	41)	41)	24)	—)
Total reported debt	6,468)	798)	1,001)	823)	1,485)
Stockholders’ equity	8,228,744)	7,025,041)	6,566,951)	5,160,860)	4,171,281)
Total reported capital	8,235,212)	7,025,839)	6,567,952)	5,161,683)	4,172,766)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)
Add: Operating lease liabilities (included in Accrued liabilities)²	11,088)	7,747)	3,990)	3,171)	2,812)
Add: Operating lease liabilities (included in Other liabilities)³	48,459)	29,586)	17,389)	17,342)	25,651)
Adjusted total debt	66,015)	38,131)	22,380)	21,336)	29,948)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	146,107)	177,039)	225,221)	241,650)	84,777)
Add: Allowance for doubtful accounts, sales returns and cash discounts	7,638)	10,460)	4,676)	1,878)	2,045)
Add: Deferred revenue	246,165)	267,111)	285,779)	309,865)	331,706)
Adjusted stockholders’ equity	8,336,440)	7,125,573)	6,632,185)	5,230,953)	4,420,255)
After Adjustment
Adjusted total capital	8,402,455)	7,163,704)	6,654,565)	5,252,289)	4,450,203)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities (included in Accrued liabilities). See details »

³ Operating lease liabilities (included in Other liabilities). See details »

⁴ Net deferred tax assets (liabilities). See details »

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Monster Beverage Corp., adjusted net sales

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net sales	7,140,027)	6,311,050)	5,541,352)	4,598,638)	4,200,819)
Adjustment
Add: Increase (decrease) in deferred revenue	(20,946)	(18,668)	(24,086)	(21,841)	(24,563)
After Adjustment
Adjusted net sales	7,119,081)	6,292,382)	5,517,266)	4,576,797)	4,176,256)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Monster Beverage Corp., adjusted net income

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
As Reported
Net income	1,630,988)	1,191,624)	1,377,475)	1,409,594)	1,107,835)
Adjustments
Add: Deferred income tax expense (benefit)¹	30,677)	45,453)	24,531)	(151,485)	(2,777)
Add: Increase (decrease) in allowance for doubtful accounts, sales returns and cash discounts	(2,822)	5,784)	2,798)	(167)	456)
Add: Increase (decrease) in deferred revenue	(20,946)	(18,668)	(24,086)	(21,841)	(24,563)
Add: Other comprehensive income (loss)	33,736)	(89,908)	(72,199)	35,421)	477)
After Adjustment
Adjusted net income	1,671,633)	1,134,285)	1,308,519)	1,271,522)	1,081,428)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

¹ Deferred income tax expense (benefit). See details »

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Monster Beverage Corp. (NASDAQ:MNST)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income