Company: UTZ
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001739566-25-000153
Chunk: 18

Company: Utz Brands, Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 2025As of December 29, 2024Finished goods$86.2 $67.0 Raw materials31.4 27.1 Maintenance parts7.9 7.3 Total inventories$125.5 $101.4 

4.PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consisted of the following:(in millions)As of June 29, 2025As of December 29, 2024Land$25.8 $25.9 Buildings136.4 113.2 Machinery and equipment303.9 215.5 Land improvements2.7 2.7 Building improvements3.4 2.8 Construction-in-progress58.5 107.4  530.7 467.5 Less: accumulated depreciation(141.0)(122.3)Property, plant and equipment, net$389.7 $345.2 Depreciation expense was $11.9 million and $8.2 million for the thirteen weeks ended June 29, 2025 and June 30, 2024, respectively, and $21.3 million and $17.0 million for the twenty-six weeks ended June 29, 2025 and June 30, 2024, respectively. Depreciation expense is included in Cost of goods sold and Selling, distribution, and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss).

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5.GOODWILL AND INTANGIBLE ASSETS, NET

A roll-forward of goodwill is as follows:(in millions)Balance as of December 29, 2024$870.7 Balance as of June 29, 2025$870.7 Intangible assets, net, consisted of the following:(in millions)As of June 29, 2025As of December 29, 2024Subject to amortization:  Distributor/customer relationships$647.7 $647.7 Trademarks59.9 59.9 Amortizable assets, gross707.6 707.6 Accumulated amortization(169.9)(151.8)Amortizable assets, net537.7 555.8 Not subject to amortization:Trade names428.7 428.7 Route assets16.6 12.0 Intangible assets, net