What do you compare the contents() method of ArrayList?

ArrayList<Thing> basket = new ArrayList<Thing>();  
Thing thing = new Thing(100);  
basket.add(thing);  
Thing another = new Thing(100);  
basket.contains(another); // true or false?

class Thing {  
    public int value;  

    public Thing (int x) {
        value = x;
    }

    equals (Thing x) {
        if (x.value == value) return true;
        return false;
    }
}