Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 150

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 150
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735 550 318 Total finance lease expense3,916 3,523 2,903 Operating lease expense (1)29,322 22,437 16,679 Total lease expense$33,238 $25,960 $19,582 (1) Included variable and short-term lease expense of $5.2 million and $8.1 million, respectively, for the fiscal year ended December 29, 2024, $4.6 million and $5.3 million, respectively, for the fiscal year ended December 31, 2023 and $3.2 million and $3.8 million, respectively, for the fiscal year ended January 1, 2023.Finance leases, net, are included in Property, Plant and Equipment, net as follows:(in thousands)As ofDecember 29, 2024As ofDecember 31, 2023Leases$19,488 $17,956 Less: accumulated depreciation10,029 8,007 Leases, net$9,459 $9,949 Maturities of lease liabilities as of December 29, 2024:(in thousands)Operating LeasesFinance LeasesTotal2025$27,820 $3,479 $31,299 202624,823 3,131 27,954 202721,340 2,636 23,976 202817,011 1,529 18,540 202914,086 318 14,404 2029 and thereafter259,986 — 259,986 Total undiscounted obligations365,066 11,093 376,159      Less imputed interest(214,730)(1,386)(216,116)Present value of lease obligations$150,336 $9,707 $160,043 

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The following table summarizes supplemental balance sheet information related to leases as of December 29, 2024 and December 31, 2023:As of December 29, 2024As of December 31, 2023(in thousands, except lease term and discount rate)Operating LeasesFinance LeasesOperating LeasesFinance LeasesROU asset, non-current(1)(2)$146,891 $9,459 $56,705 $9,949 Lease liability, current$17,341 $2,853