Molson Coors Brewing Co. now considers legal cannabis a potential “risk factor” to its business. Molson Coors, which maintains headquarters in Denver and Montreal, on Wednesday joined the growing ranks of established, traditional publicly traded companies to address the burgeoning marijuana industry in annual financial reports filed with the U.S. Securities and Exchange Commission.

In the 10-K filing made Wednesday, officials for the multinational brewer disclosed they’re keeping close watch on how legal cannabis sales affect consumers’ pocket money and, ultimately, sales of beers like Molson Canadian, Miller and Coors.

“Although the ultimate impact is currently unknown, the emergence of legal cannabis in certain U.S. states and Canada may result in a shift of discretionary income away from our products or a change in consumer preferences away from beer,” officials wrote in the filing. “As a result, a shift in consumer preferences away from our products or beer or a decline in the consumption of our products could result in a material adverse effect on our business and financial results.

“It’s too early to determine legal cannabis’ impact on beer sales volumes”, said the Colin Wheeler, a Molson Coors spokesman”.

Some beer companies are monitoring whether to enter the market and others have already taken the leap. Last fall, Constellation Brands invested $190 million in Canada marijuana firm Canopy Growth Corp. with a plan to eventually develop cannabis beverages for adults.

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