I work for a place that tests hand sanitizers. For us, we have tested it for 2 years + and it has shown to be the same percentage of alcohol for at least 2 years. After that it is either they don't want the paperwork hanging around for longer or the container evaporates the contents so it is no longer what the stated contents says. E.g. our bags get only 1.5 years because the alcohol and other contents evaporate at the same rate but evaporate more quickly than bottles. So...the alcohol content is most likely good it's just that it may not be 32 oz after it expires, which would make the FDA sad.