Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 137

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 137
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, the determination of fair value requires more judgment.The fair values of the Company’s Level 2 derivative instruments were determined using valuation models that use market observable inputs including interest rate curves and both forward and spot prices for commodities. Derivative assets and liabilities included in Level 2 primarily represent commodity and interest rate swap contracts.

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The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of December 29, 2024:(in thousands)Level ILevel IILevel IIITotalAssets:Cash and cash equivalents$56,138 $— $— $56,138 Commodity contracts— 89 — 89 Interest rate swaps— 25,043 — 25,043 Total assets$56,138 $25,132 $— $81,270 Liabilities:Commodity contracts$— $1,434 $— $1,434 Warrants— 33,048 — 33,048 Debt— 768,581 — 768,581 Total liabilities$— $803,063 $— $803,063 The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of December 31, 2023: (in thousands)Level ILevel IILevel IIITotalAssets:Cash and cash equivalents$52,023 $— $— $52,023 Commodity contracts— 211 — 211 Interest rate swaps— 33,332 — 33,332 Total assets$52,023 $33,543 $— $85,566 Liabilities:Commodity contracts— 2,094 — 2,094 Interest rate swaps— 1,936 — 1,936 Warrants— 43,272 — 43,272 Debt— 899,597 — 899,597 Total liabilities$— $946,899 $— $946,899 

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11.SHARE-BASED COMPENSATION

For the periods presented, compensation expense included primarily in Selling, distribution, and administrative expense for all types of stock-based compensation programs and the related income tax benefit recognized