Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 19

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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$983.0 $996.5 Amortization of distributor/customer relationships, technology and trade names amounted to $9.0 million and $9.0 million for the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $18.0 million and $18.3 million for the twenty-six weeks ended June 29, 2025 and June 30, 2024, respectively. The expense related to the amortization of intangibles is included in Selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).

6.NOTES RECEIVABLE

Contracts are executed between the Company and its independent operators (“IOs”) for the sale of product distribution routes, including notes in favor of the Company, in certain cases. The notes bear interest at rates ranging from 5.00% to 10.55% with terms ranging generally from one to ten years. The notes receivable balances due from IOs at June 29, 2025 and December 29, 2024 totaled $16.6 million and $13.8 million, respectively, and are collateralized by the routes for which the loans are made. The Company also sold certain notes to Bank of America and two other banks. The Company has a corresponding notes payable related to the sale of IOs notes receivables. See Note 10. Contingencies.

9

7.ACCRUED EXPENSES AND OTHER

Current accrued expenses and other consisted of the following:(in millions)As of June 29, 2025As of December 29, 2024Accrued compensation and benefits$14.0 $24.3 Accrued Federal income tax payable4.5 — Operating right of use liability18.6 17.3 Insurance liabilities6.5 6.8 Tax Receivable Agreement liability4.6 0.1 Accrued freight and manufacturing related costs2.6 4.0 Accrued dividends and distributions8.6 8.6 Accrued interest3.4 11.1 Deferred transition services and other fees (a)— 2.0 Other accrued expenses12.3 4.1 Total accrued expenses and other$75.1 $78.3 (a) See Note 2. Divestitures, for further discussion.Non-current accrued expenses and other consisted of the